DIGITAL MANUFACTURING. REIMAGINED.
然
92.1%
69.0%
47.8%
Operational Benchmarking
Industry 4.0 comparable universe
Scaled advanced manufacturing / Industry disruptors
Early stage / Recent de-SPACS
19.1%
FATHOM
2022E
Gross margin
2022E
Adj. EBITDA² margin
*20-'23E Revenue
CAGR1
26.5%
FATHOM
17.5%
15.2%
11.7%
10.6%
7.0%
6.1%
Median: 11.1%
176.1%
104.3%
☑
COGNEX
stratasys
PROTOLABS
materialise
ROPER
D Desktop Metal
VELO 3D
BG
3D SYSTEMS
12.9%
36.4%
4.4%
36.6%
21.3%
13.7%
COGNEX
stratasys
PROTOLABS
Roper
materialise
3D SYSTEMS
Median: 17.5%
78.0%
63.1%
56.8%
52.0%
49.6%
49.0%
44.7%
Median: 53.2%
Median: 92.1%
Bright
Machines.
Markforged
Median: N/M
N/M
N/M
N/M
N/M
N/M
Desktop Metal
VELO SD
BG
Bright
Machines
Markforged
58.6%
33.8%
37.8%
23.5%
11.8%
FATHOM
COGNEX
materialise
stratasys
☑PROTOLABS
ROPER
D Desktop Metal
VELO 3D
BG
3D SYSTEMS
Median: 33.8%
Bright
Machines
Markforged
Source: Company filings, management projections, Factset as of 7/14/2021; Berkshire Grey data from SPAC announcement presentation as of 2/24/21, MarkForged data from SPAC announcement presentation as of 2/24/21, Velo3D data from SPAC announcement presentation as of
3/23/21, Bright Machines data from SPAC announcement presentation as of 5/17/21
Note: Medians exclude Fathom
1 Fathom's 19.1% CAGR is adjusted to give pro forma effect to all acquisitions prior to 05/01/21; 2 Adjusted EBITDA is a non-GAAP measure. Adjustments to EBITDA include transaction and integration costs, non-recurring and non-cash items, compensation normalization and other
accounting adjustments. See Appendix for a calculation of Adjusted EBITDA
FATHOM
Fathom Proprietary
and Confidential
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