Markforged Holding Corporation (MKFG) reports earnings

The report was filed on March 28, 2025

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Markforged Holding Corporation (MKFG-1.27%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.

The filing details Markforged's financial performance, reporting a decrease in revenue to $85.1 million from $93.8 million in the previous year. The decline is attributed to a challenging macroeconomic environment and increased competition.

The company reported a net loss of $85.6 million for the year, compared to a net loss of $103.6 million in the prior year. This includes a litigation judgment expense of $17.7 million related to a settlement with Continuous Composites.

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Markforged's cost of revenue decreased to $44.0 million from $49.4 million, while gross profit decreased to $41.1 million from $44.4 million. The gross margin slightly improved to 48% from 47% due to operational efficiencies and product mix changes.

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Operating expenses totaled $127.7 million, down from $155.8 million, primarily due to reductions in sales, marketing, and research and development expenses.

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The company incurred $4.9 million in transaction costs related to a proposed merger with Nano Dimension Ltd., which is subject to regulatory approval and other closing conditions.

Markforged's cash and cash equivalents were $53.6 million as of December 31, 2024, and the company has expressed substantial doubt about its ability to continue as a going concern if the merger with Nano is not consummated.

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The filing also notes that Markforged regained compliance with the NYSE's minimum bid price listing requirement following a 10-for-1 reverse stock split.

Markforged continues to focus on its growth strategy, which includes expanding its integrated platform with software solutions, increasing customer use cases, and driving deeper market coverage.

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This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Markforged Holding Corporation annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.