Core Insights - Markforged has launched the FX10 Metal Kit, making the FX10 the first industrial 3D printer capable of printing both metal filaments and composites with continuous fiber reinforcement [1][2] Group 1: Product Features - The FX10 was initially released in November 2023 as a composite-only printer and has received positive feedback from early customers for its versatility [2] - The FX10 Metal Kit includes a swappable print engine, allowing users to switch between metal and composite printing in approximately 15 minutes [4] - The new 316L stainless steel metal filament will be available for use with the FX10 Metal Kit, with plans for additional metal filament support in the future [3] Group 2: Performance and Efficiency - The FX10's 5th Generation Continuous Fiber Reinforcement (CFR) print system operates nearly twice as fast as previous composite printers, while the 2nd Generation Metal FFF engine offers significantly faster printing than earlier Markforged metal systems [5] - The FX10 has a print volume that is twice as large compared to previous industrial metal printers from Markforged [5] Group 3: Integration and Ecosystem - The Digital Forge is the additive manufacturing platform that supports the FX10, enabling integration into existing manufacturing ecosystems and allowing users to monitor fleet performance centrally [7] - The FX10 is designed as a modular platform, allowing for future innovations and upgrades without the need for customers to purchase new printers annually [4] Group 4: Market Presence - Markforged aims to enhance manufacturing resiliency by providing on-demand industrial production capabilities, with over 10,000 customers across more than 70 countries [9] - The FX10 Metal Kit will be showcased at the International Manufacturing Technology Show in Chicago from September 9-14, highlighting its capabilities in both metal and composite printing [8]

Core Viewpoint - Markforged Holding Corporation (MKFG) has been upgraded to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system emphasizes the importance of changing earnings estimates in determining near-term stock price movements, making it a valuable tool for investors [2][4]. - The correlation between earnings estimate revisions and stock price movements is strong, with institutional investors using these estimates to assess fair value [4]. Company Performance Indicators - The recent upgrade indicates an improvement in Markforged's underlying business, suggesting that investors may respond positively by driving the stock price higher [5]. - Markforged is expected to earn -$0.20 per share for the fiscal year ending December 2024, reflecting a year-over-year change of 23.1% [8]. - Over the past three months, the Zacks Consensus Estimate for Markforged has increased by 2.5%, indicating a positive trend in earnings estimates [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with only the top 20% receiving a 'Strong Buy' or 'Buy' rating [9][10]. - The upgrade of Markforged to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].

Core Viewpoint - Markforged Holding Corporation (MKFG) has experienced significant selling pressure, resulting in a 48.2% decline in stock price over the past four weeks, but analysts anticipate better earnings than previously expected, indicating a potential turnaround for the stock [1]. Group 1: Stock Performance and Technical Analysis - MKFG's stock is currently in oversold territory, with a Relative Strength Index (RSI) reading of 24.32, suggesting a possible trend reversal as selling pressure may be exhausting [5]. - The stock's price has been significantly affected by unwarranted selling, leading to potential entry opportunities for investors looking to benefit from a rebound [3]. - The consensus EPS estimate for MKFG has increased by 2.5% over the last 30 days due to a strong agreement among sell-side analysts, which typically correlates with price appreciation in the near term [5]. Group 2: Analyst Ratings and Market Position - MKFG holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating a strong potential for a turnaround [6].

Markforged Holding Corporation (MKFG) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of a loss of $0.06. This compares to loss of $0.07 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 16.67%. A quarter ago, it was expected that this company would post a loss of $0.06 per share when it actually produced a loss of $0.06, delivering no surprise. Over the last four quarters, the company has ...

WALTHAM, Mass., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Markforged Holding Corporation (NYSE: MKFG) (the "Company"), the company strengthening manufacturing resiliency by enabling industrial production at the point of need, today announced its financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Financial Results Compared To Second Quarter 2023 Revenue was $21.7 million compared to $25.4 million. Gross margin was 50.2% compared to 47.0%. Non-GAAP gross margin was 51.9% compared to 48. ...

Core Viewpoint - Markforged is set to release its financial results for Q2 2024 on August 8, 2024, after market close, followed by a conference call to discuss the results [1]. Company Overview - Markforged (NYSE: MKFG) focuses on enhancing manufacturing resiliency through industrial 3D printing, enabling production at the point of need [4]. - The company operates The Digital Forge, an additive manufacturing platform that allows the creation of strong, accurate parts in metal and advanced composites [4]. - Markforged serves over 10,000 customers across more than 70 countries, promoting on-demand industrial production [4]. - The company is headquartered in Waltham, Massachusetts, where it designs hardware, software, and advanced materials for The Digital Forge [4]. Financial Results Announcement - The financial results for the second quarter ended June 30, 2024, will be released after market close on August 8, 2024 [1]. - A webcast and conference call will be held at 5:00 PM ET on the same day to discuss the financial results [1]. - Participants can access the earnings press release and related materials through the investors section of the company's website [2]. Conference Call Details - To participate in the conference call, interested parties should dial 1-877-407-9039 or 1-201-689-8470 ten minutes before the scheduled start [2]. - A replay of the conference call will be available on the company's website and via telephone until August 22, 2023, at 11:59 PM ET [3]. - The replay can be accessed by dialing 1-844-512-2921 or 1-412-317-6671 with the passcode 13743375 [3].

Massive opportunity today as manufacturers seek more resilient supply chains Market and Industry Data. Certain information contained in this Presentation relates to or is based on publications, surveys and the Company's own internal estimates and research. In addition, all of the market data included in this Presentation involves a number of assumptions and limitations, and there can be no guarantee as to the accuracy or reliability of such assumptions. Finally, while the Company believes its internal resea ...

Financial Data and Key Metrics Changes - Revenue for Q1 2024 was $20.5 million, a decrease of 15% from Q1 2023, primarily due to lower system revenue impacted by a challenging macroeconomic environment with high interest rates [17] - Gross margin for Q1 2024 was 51.3%, an increase of 1.8 percentage points from Q4 2023 and up 2 points from Q1 2023, driven by operational efficiencies and product mix [19] - Operating expenses were $24.1 million in Q1 2024, down from $26.7 million in Q1 2023, reflecting ongoing efforts to reduce expenses and optimize cash utilization [20] - Net loss for Q1 2024 was $12.2 million, an improvement from a loss of $13.3 million in Q1 2023 [21] - Cash and cash equivalents at the end of Q1 2024 were $107.9 million, down from $8.9 million at the end of Q4 2023 [55] Business Line Data and Key Metrics Changes - Consumable revenues were essentially flat year-over-year, while subscription-based software and services revenue grew 18% year-over-year in Q1 2024 [18] - The FX10, a next-generation 3D printer, was shipped in Q1 2024, with initial market feedback being very positive, including significant orders from customers like Toyota [10][57] Market Data and Key Metrics Changes - The company noted a challenging macroeconomic environment affecting system revenue, particularly in Europe and Asia, but anticipates recovery based on the current pipeline [35] - The demand for industrial automation technologies is seen as a robust tailwind for the company's Digital Forge platform [14] Company Strategy and Development Direction - The company aims to drive the adoption of additive manufacturing on the factory floor to enhance efficiency, reduce costs, and improve supply chain resiliency [6][9] - The company is focused on sustaining operational efficiencies and scaling up its business in 2024, with expectations for growth driven by new products and improved go-to-market operations [15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the opportunities presented by new products in the second half of 2024, despite the ongoing challenges in the CapEx environment [6] - The company reiterated its 2024 revenue guidance of $95 million to $105 million, acknowledging macroeconomic headwinds but expecting mid-single-digit growth quarter-over-quarter in Q2 [25] Other Important Information - The company accrued a GAAP expense of $17.3 million related to a patent lawsuit verdict, which is excluded from non-GAAP results [23] - Management is actively exploring options to overturn the patent verdict and is limited in commenting further on the matter [55][58] Q&A Session Summary Question: Pipeline status and capacity for FX10 - Management indicated that the FX10 pipeline is building up as expected, with production likely to meet demand by Q4 2024 [31][32] Question: Impact of patent verdict on product lines and geographies - Management stated it is too early to provide additional details on the impact of the patent verdict on specific product lines and geographies [34][58] Question: International performance, particularly in Europe and Asia - Management noted that the current downturn in these regions is part of a cyclical change and anticipates recovery soon based on the pipeline [35] Question: FX10 shipments to existing vs. new customers - Initial shipments of FX10 primarily went to existing customers, with new customer orders expected to be fulfilled in Q2 [65] Question: Gross margins outlook with FX10 launch - Management expressed encouragement regarding Q1 gross margin performance but acknowledged potential pressure from the FX10 launch and other new technologies [41]

Markforged Holding Corporation (MKFG) came out with a quarterly loss of $0.06 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.07 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post a loss of $0.07 per share when it actually produced a loss of $0.06, delivering a surprise of 14.29%.Over the last four quarters, the company has surpassed consensus EPS estimates two times.Markforged Holding Corporat ...

Revenue Performance - Revenue for the three months ended March 31, 2024, was $20.5 million, a decrease of 15% compared to $24.1 million for the same period in 2023[154]. - Consolidated revenue for the three months ended March 31, 2024 was $20.5 million, a decrease of 15% compared to $24.1 million for the same period in 2023[159]. - Hardware revenue decreased by 26% to $11.3 million, while services revenue increased by 18% to $2.9 million, driven by the launch of a subscription offering[160]. Net Loss and Financial Health - Net loss for the three months ended March 31, 2024, was $35.9 million, compared to a net loss of $19.0 million for the same period in 2023, reflecting an increase in losses of $16.9 million[154]. - The company incurred a net loss of $35.9 million for the three months ended March 31, 2024, compared to a net loss of $19.0 million in 2023[176]. - Non-GAAP net loss for the three months ended March 31, 2024 was $12.2 million, compared to a non-GAAP net loss of $13.3 million in 2023[175]. Operating Expenses - Operating expenses increased to $47.2 million for the three months ended March 31, 2024, compared to $33.1 million for the same period in 2023, primarily due to a $17.3 million litigation judgment[154]. - Total operating expenses increased by 43% to $47.2 million, primarily due to a $17.3 million litigation judgment[163]. - Research and development expenses decreased by 4% to $9.9 million, reflecting cost management efforts[164]. Cash Position - Cash and cash equivalents as of March 31, 2024, were $107.9 million, with an accumulated deficit of $240.6 million[130]. - Cash and cash equivalents as of March 31, 2024 were $107.9 million, sufficient to meet working capital needs for the next 12 months[177]. - As of March 31, 2024, the company had $107.9 million in cash and cash equivalents[187]. Revenue Composition - Recurring revenue accounted for 45% of total revenue for the three months ended March 31, 2024, up from 37% in the same period of 2023[136]. - The company anticipates that its cost of revenue will increase in absolute dollars as revenues continue to grow[142]. Legal and Compliance Matters - The company incurred a $17.3 million accrual related to a patent infringement verdict during the three months ended March 31, 2024[130]. - The company has not engaged in any hedging activities since inception and does not expect to do so in the future[187]. - The company is classified as an "emerging growth company" under the JOBS Act, allowing it to delay adopting new accounting standards[185]. - The company intends to utilize the extended transition period provided by the JOBS Act for compliance with new accounting standards[185]. - Recent accounting pronouncements have been adopted and are detailed in Note 2 of the condensed consolidated financial statements[184]. - The company’s financial statements may not be comparable to those of companies that comply with new accounting standards as of public company effective dates[185]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[187]. Profitability Metrics - The gross profit for the three months ended March 31, 2024, was $10.1 million, down 13% from $11.6 million in the same period of 2023[154]. - Gross profit for the three months ended March 31, 2024 was $10.1 million, down from $11.6 million in 2023, with a gross margin of 49%, up from 48%[161]. Cash Flow - Net cash used in operating activities decreased by 52% to $7.4 million for the three months ended March 31, 2024, compared to $15.5 million in 2023[180].