Desktop Metal Announces Second Quarter 2024 Financial Results

(1) Includes immaterial liability-award stock-based compensation expense for the three and six months ended June 30, 2024, respectively. Includes $0.2 million and $0.4 million of liability-award stock-based compensation expense for the three and six months ended June 30, 2023, respectively.
(2) Includes no liability-award stock-based compensation expense and $0.5 million of liability-award stock-based compensation expense for the three and six months ended June 30, 2024, respectively. Includes $1.3 million and $2.9 million of liability-award stock-based compensation expense for the three and six months ended June 30, 2023, respectively
(3) Includes $3.9 million and $4.3 million of depreciation classified as restructuring charges for the three and six months ended June 30, 2024, respectively.

 

DESKTOP METAL, INC.
NON-GAAP OPERATING EXPENSE RECONCILIATION TABLE
(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended

 

For the Six Months Ended

 

 

June 30,

 

June 30,

(Dollars in thousands)

 

2024

 

2023

 

2024

 

2023

GAAP operating expenses

 

$

69,138

 

 

$

54,607

 

 

$

116,321

 

 

$

105,559

 

Stock-based compensation included in operating expenses(1)

 

 

(6,022

)

 

 

(9,113

)

 

 

(13,292

)

 

 

(17,746

)

Amortization of acquired intangible assets included in operating expenses

 

 

(23,250

)

 

 

(3,529

)

 

 

(29,957

)

 

 

(7,044

)

Restructuring expense included in operating expenses

 

 

(11,183

)

 

 

(362

)

 

 

23,326

 

 

 

(3,264

)

Acquisition-related and integration costs included in operating expenses

 

 

(1,684

)

 

 

(6,925

)

 

 

(2,939

)

 

 

(7,852

)

Non-GAAP operating expenses

 

$

26,999

 

 

$

34,678

 

 

$

93,459

 

 

$

69,653

 


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