DESKTOP METAL, INC. |
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CONDENSED CONSOLIDATED BALANCE SHEETS |
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(UNAUDITED) |
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(in thousands, except share and per share amounts) |
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September 30, |
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December 31, |
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|
|
2023 |
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|
2022 |
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||
Assets |
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|
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Current assets: |
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|
|
|
|
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||
Cash and cash equivalents |
|
$ |
107,432 |
|
|
$ |
76,291 |
|
Current portion of restricted cash |
|
|
841 |
|
|
|
4,510 |
|
Short‑term investments |
|
|
803 |
|
|
|
108,243 |
|
Accounts receivable |
|
|
40,088 |
|
|
|
38,481 |
|
Inventory |
|
|
107,196 |
|
|
|
91,736 |
|
Prepaid expenses and other current assets |
|
|
24,987 |
|
|
|
16,325 |
|
Assets held for sale |
|
|
— |
|
|
|
830 |
|
| Total current assets |
|
|
281,347 |
|
|
|
336,416 |
|
| Restricted cash, net of current portion |
|
|
612 |
|
|
|
1,112 |
|
| Property and equipment, net |
|
|
38,387 |
|
|
|
56,271 |
|
| Goodwill |
|
|
108,651 |
|
|
|
112,955 |
|
| Intangible assets, net |
|
|
178,802 |
|
|
|
219,830 |
|
| Other noncurrent assets |
|
|
36,465 |
|
|
|
27,763 |
|
| Total Assets |
|
$ |
644,264 |
|
|
$ |
754,347 |
|
| Liabilities and Stockholders’ Equity |
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|
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| Current liabilities: |
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|
|
|
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| Accounts payable |
|
$ |
32,114 |
|
|
$ |
25,105 |
|
| Customer deposits |
|
|
6,918 |
|
|
|
11,526 |
|
| Current portion of lease liability |
|
|
6,644 |
|
|
|
5,730 |
|
| Accrued expenses and other current liabilities |
|
|
27,899 |
|
|
|
26,723 |
|
| Current portion of deferred revenue |
|
|
17,015 |
|
|
|
13,719 |
|
| Current portion of long‑term debt |
|
|
368 |
|
|
|
584 |
|
| Total current liabilities |
|
|
90,958 |
|
|
|
83,387 |
|
| Long-term debt, net of current portion |
|
|
120 |
|
|
|
311 |
|
| Convertible notes |
|
|
112,382 |
|
|
|
111,834 |
|
| Lease liability, net of current portion |
|
|
23,680 |
|
|
|
17,860 |
|
| Deferred revenue, net of current portion |
|
|
3,780 |
|
|
|
3,664 |
|
| Deferred tax liability |
|
|
4,693 |
|
|
|
8,430 |
|
| Other noncurrent liabilities |
|
|
3,077 |
|
|
|
1,359 |
|
| Total liabilities |
|
|
238,690 |
|
|
|
226,845 |
|
| Commitments and Contingencies (Note 17) |
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|
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| Stockholders’ Equity |
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|
|
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| Preferred Stock, $0.0001 par value—authorized, 50,000,000 shares; no shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively |
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|
— |
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|
|
— |
|
| Common Stock, $0.0001 par value—500,000,000 shares authorized; 323,658,575 and 318,235,106 shares issued at September 30, 2023 and December 31, 2022, respectively, 323,642,480 and 318,133,434 shares outstanding at September 30, 2023 and December 31, 2022, respectively |
|
|
32 |
|
|
|
32 |
|
| Additional paid‑in capital |
|
|
1,901,931 |
|
|
|
1,874,792 |
|
| Accumulated deficit |
|
|
(1,457,696 |
) |
|
|
(1,308,954 |
) |
| Accumulated other comprehensive loss |
|
|
(38,693 |
) |
|
|
(38,368 |
) |
| Total Stockholders’ Equity |
|
|
405,574 |
|
|
|
527,502 |
|
| Total Liabilities and Stockholders’ Equity |
|
$ |
644,264 |
|
|
$ |
754,347 |
|
See notes to condensed consolidated financial statements
