Desktop Metal Announces Second Quarter 2024 Financial Results

(1) 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 $1.1 million and $2.5 million of liability-award stock-based compensation expense for the three and six months ended June 30, 2023, respectively.

 

DESKTOP METAL, INC.
NON-GAAP ADJUSTED EBITDA 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

Net loss attributable to common stockholders

 

$

(103,440

)

 

$

(49,728

)

 

$

(155,538

)

 

$

(102,369

)

Interest expense

 

 

1,690

 

 

 

1,109

 

 

 

3,181

 

 

 

1,920

 

Income tax benefit (expense)

 

 

345

 

 

 

23

 

 

 

147

 

 

 

(534

)

Depreciation and amortization (2)

 

 

71,858

 

 

 

13,530

 

 

 

96,043

 

 

 

26,965

 

EBITDA

 

 

(29,547

)

 

 

(35,066

)

 

 

(56,167

)

 

 

(74,018

)

Change in fair value of investments

 

 

497

 

 

 

107

 

 

 

1,814

 

 

 

286

 

Stock-based compensation expense (1)

 

 

6,497

 

 

 

9,703

 

 

 

14,335

 

 

 

19,016

 

Restructuring expense (2)

 

 

7,295

 

 

 

2,850

 

 

 

9,887

 

 

 

6,469

 

Acquisition-related and integration costs

 

 

2,050

 

 

 

7,359

 

 

 

3,305

 

 

 

8,765

 

Adjusted EBITDA

 

$

(13,208

)

 

$

(15,047

)

 

$

(26,826

)

 

$

(39,482

)


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