Desktop Metal Inc - Ordinary Shares - Class A

NYSE:DM   3:59:51 PM EDT
2.31
-0.24 (-9.61%)
4:10:21 PM EDT: $2.35 +0.05 (+1.95%)
Layoffs, Restructuring / Reorganization, Earnings Announcements

Desktop Metal Announces Strategic Integration And Cost Optimization Initiative

Published: 06/13/2022 11:41 GMT
Desktop Metal Inc - Ordinary Shares - Class A (DM) - Desktop Metal Announces Strategic Integration and Cost Optimization Initiative to Accelerate Additive Manufacturing 2.0 and Drive Value to Shareholders.
Desktop Metal Inc - Workforce Reductions of About 12% to Drive Cost Synergies and Productivity Gains From Integration of Businesses Acquired in 2021.
Desktop Metal - Strategic Integration, Cost Optimization Initiative Projected to Result in About $40 Million of Annualized Run Rate Non-GAAP Cost Savings.
Desktop Metal Inc - Simplified Operational Structure, to Include a Consolidated Global Facilities Footprint.
Desktop Metal - Engineering, Manufacturing, Marketing, Finance, Legal, Human Resources, Customer Service to Be Fully Consolidated Under Desktop Metal.
Desktop Metal - Sees Will Incur One-time Termination Benefits, Associated Costs Related to Integration, Cost Optimization of About $14.0 Million.
Desktop Metal Inc - About $11.0 Million of One-time Termination Benefits and Associated Costs Expected to Be Incurred in Q2 of 2022.
Desktop Metal Inc - Remaining About $3.0 Million of One-time Termination Benefits and Associated Costs Are Expected to Be Incurred by End of 2023.
Desktop Metal Inc - Estimates That $6.2 Million of One-time Charges Will Result in Future Cash Expenditures.
Desktop Metal Inc - Anticipates That Initiative Will Be Substantially Complete by End of 2023.
Desktop Metal Inc - Continuing to Review International Workforce Changes.
Revenue is expected to be $55.32 Million
Adjusted EPS is expected to be -$0.12

Next Quarter Revenue Guidance is expected to be $59.16 Million
Next Quarter EPS Guidance is expected to be -$0.11

More details on our Analysts Page.