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Industrial 3D printer manufacturer Desktop Metal (DM) has reported an 85.4% revenue increase in its Q3 2022 financial results.
Over the quarter, Desktop Metal turned over $47.1 million, a $21.7 million rise on the $25.4 million it generated in Q3 2021, but an 18.4% fall when measured on a sequential quarterly basis. On the firm’s earnings call, its new CFO Jason Cole explained that it had missed internal revenue expectations in Q3 2022, due to “customers delaying purchases” amid an “uncertain macroeconomic backdrop.”
“The challenging macroeconomic environment created great headwinds for our business,” added Desktop Metal CEO, Ric Fulop. “We exited the first half of the year tracking towards our financial targets,…
