Markforged Results Presentation Deck
Financial Summary
Growth Strategy on Plan, While Building Operational Efficiencies
14
We continued to execute on our growth
strategy, with record Q2 revenues of
$25.4M, increasing 5% year-over-year
and largest pipeline in our company's
history.
Demand for the Digital Forge continued
to grow globally in Q2, even in the face
of the high cost of capital environment
which is restricting capital expense
investments.
The FX20 is exciting customers globally
within industrial and high-regulated
markets like aerospace and automotive.
Coupled with the growing order pipeline
for our newest metal binder jetting
solution, the PX100, we believe our
future growth prospects are bright.
Non-GAAP 2023 gross margins will
end up in the mid to upper range of
our prior guidance of 47% -49%, and
gradually expand to historical levels
that are above 50% in 2024.
We remain laser focused on margin
expansion and driving profitable growth,
and our financial strength is in our
balance sheet where we exited Q2 with
$136.0M in cash, cash equivalents, and
short-term investments and no debt.
We have plans for multiple new product
introductions in the second half of 2023
which further enhance our current
platform and should contribute to
accelerating growth in 2024.
2023 Non-GAAP Guidance*
Revenue**
Gross Margin
Operating Loss
EPS
$101.0 -110.0M
47.0 - 49.0%
($54.0-57.0M)
($0.25-0.27)
*We currently intend that non-GAAP reporting will exclude
share-based compensation, other income, and other non-recurring.
unusual and infrequent charges from our GAAP results.
**2023 Revenue guidance is on a GAAP basis.
As provided in the Company's second quarter and year earnings
conference call on August 10, 2023.
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