Manufacturing. Accelerated.
Reconciliation of non-GAAP financials.
Adjusted EBITDA (1)
($M)
2019A
2020E(2)
2021E
2022E
2023E
2024E
2025E
Operating income (loss)
(109.0)
(76.3)
(36.9)
(14.1)
23.5
103.0
225.8
Depreciation & amortization
8.1
7.8
8.0
7.5
7.5
7.5
7.5
Stock-based compensation.
5.2
4.5
4.4
5.1
12.6
23.0
34.9
Adjusted EBITDA
(95.8)
(64.0)
(24.5)
(1.5)
43.6
133.6
268.2
Free cash flow (1)
($M)
2019A
2020E(2)
2021E
2022E
2023E
2024E
2025E
Cash flow from operations.
(96.0)
(77.9)
(25.6)
(3.7)
33.2
110.7
240.5
Capital expenditures
(6.9)
(3.2)
(6.0)
(7.0)
(8.0)
(10.0)
(10.0)
Free cash flow
(102.8)
(81.1)
(31.6)
(10.7)
25.2
100.7
230.5
1.
D Desktop Metal
Presented financial data not inclusive of estimated public company-related costs of approximately $6M per year.
All 2020E figures excluding revenue assume high end of the revenue range ($15M - $25M).
200%+ CAGR
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