(UNAUDITED)
(in thousands, except per share amounts)
|
|
Three Months Ended |
||||
|
|
March 31, |
||||
|
|
2022 |
|
2021 |
||
Revenues |
|
|
|
|
|
|
Products |
|
$ |
39,476 |
|
$ |
10,311 |
Services |
|
|
4,230 |
|
|
1,002 |
Total revenues |
|
|
43,706 |
|
|
11,313 |
Cost of sales |
|
|
|
|
|
|
Products |
|
|
41,902 |
|
|
10,487 |
Services |
|
|
3,132 |
|
|
1,413 |
Total cost of sales |
|
|
45,034 |
|
|
11,900 |
Gross profit/(loss) |
|
|
(1,328) |
|
|
(587) |
Operating expenses |
|
|
|
|
|
|
Research and development |
|
|
24,605 |
|
|
10,858 |
Sales and marketing |
|
|
19,689 |
|
|
5,449 |
General and administrative |
|
|
23,857 |
|
|
13,846 |
| Total operating expenses |
|
|
68,151 |
|
|
30,153 |
| Loss from operations |
|
|
(69,479) |
|
|
(30,740) |
| Change in fair value of warrant liability |
|
|
— |
|
|
(56,576) |
| Interest expense |
|
|
32 |
|
|
(73) |
| Interest and other (expense) income, net |
|
|
(1,753) |
|
|
361 |
| Loss before income taxes |
|
|
(71,200) |
|
|
(87,028) |
| Income tax benefit |
|
|
1,256 |
|
|
27,920 |
| Net loss |
|
$ |
(69,944) |
|
$ |
(59,108) |
| Net loss per share—basic and diluted |
|
$ |
(0.22) |
|
$ |
(0.25) |
| Weighted average shares outstanding, basic and diluted |
|
|
312,016,627 |
|
|
238,243,779 |
DESKTOP METAL, INC.
