From that awful Cathie Wood
Markforged Holding Corporation (MKFG)
Shares of Markforged Holding Corporation traded down ~18% on Monday on no company-specific news but perhaps because merger & acquisition (M&A) activity2 in the 3D Printing industry seems to be slowing down. Separately, on Thursday, Markforged reported second-quarter earnings that beat consensus revenue estimates while missing earnings3 expectations. Markforged is a 3D printing company focused on carbon fiber composites and metal.
Yes, Cathy Wood and since her disclosure MKFG has been running
Lol says the blind man.
If it did…I would imagine $6 by the end of the year.
Too bad imagination doesn’t move stock prices
What's up with this? Ready for a swing $MKFG
It’s nonsense trade. Pretty sure employee count dropped by 150 which is good. Cut fat.
ceo and cfo selling so I guess the shows over here.
Another 198k bought today
Where’s cathy and stifel? Dumping shares or buying? Feel like this thing is stuck with no direction.
Wonder how was sold I’m to that stifel buy rating.
How about way above 4?
Markforged Announces Fourth Quarter and Full-Year 2021 Results:
“This has been a tremendous growth year for Markforged. We executed on the plan we shared a year ago and beat our targets for 2021, making Markforged one of the fastest organically growing additive manufacturing companies, with industry-leading gross margins,” said Shai Terem, President and CEO of Markforged. “Thanks to the hard work of our team, we exceeded growth targets for both the fourth quarter and full fiscal year. We saw a 27% organic growth rate in 2021, as the Digital Forge continued to solve manufacturing challenges for customers around the world. Our closely integrated hardware, software and materials are designed to allow our customers to overcome ongoing global supply chain constraints by printing industrial-strength parts for critical applications directly at the point-of-need.”
Financial Highlights for Full-Year 2021
Revenue increased 27%, to $91.2 million, in 2021 as compared to $71.9 million in 2020.
Gross profit grew 26%, to $52.9 million, in 2021 from $41.9 million in 2020.
Gross margin was 58% in 2021, consistent with our 2020 gross margin.
Net loss from operations was $61.0 million in 2021, compared to a net loss from operations of $17.7 million in the year prior.
Adjusted EBITDA was a loss of $38.7 million in 2021, compared to a loss of $13.4 million in the year prior.
Cash and cash equivalents were $288.6 million as of December 31, 2021.
Financial Highlights for the Fourth Quarter of 2021
Revenue increased by 9%, to $26.6 million, in the fourth quarter of 2021 from $24.3 million in the fourth quarter of 2020. Revenue increased by 33%, to $26.6 million, in the fourth quarter of 2021 from $20.0 million in the fourth quarter of 2020, when adjusted for revenues generated from the single largest transaction in our history, Automation Alley.
Gross profit decreased 4%, to $15.0 million, in the fourth quarter of 2021 from $15.7 million in the fourth quarter of 2020.
Gross margin was 56% in the fourth quarter of 2021 compared to 65% in the fourth quarter of 2020.
Net loss from operations was $18.9 million in the fourth quarter of 2021, compared to a net loss from operations of $3.2 million in the fourth quarter of 2020.
Adjusted EBITDA was a loss of $11.0 million in the fourth quarter of 2021, compared to a loss of $1.7 million in the fourth quarter of 2020.
Adjusted EBITDA is a non-GAAP measure. Please see “Non-GAAP Financial Measures” below for a reconciliation of Adjusted EBITDA to the most directly comparable non-GAAP measure.
In 2021, the Company continued to expand the addressable market of the Digital Forge by introducing 12 major, new solutions to the platform in the form of printers, software updates and materials. Most notably, the FX20 with ULTEM™ 9085 Filament with Continuous Fiber Reinforcement advanced the Company’s position as a leader in point-of-need production in industrial-strength parts. Built to scale distributed global production, the FX20 empowers Markforged customers to move their additive operations into robust production with strong, accurate parts that solve demanding, end-use applications.
Markforged also grew its greatest asset - its team. Having nearly doubled in size with approximately 400 employees to close out 2021, including several key executive hires, the team is sharply focused on developing multiple products simultaneously to accelerate the growth of the Digital Forge’s addressable market.
“Between the release of new, expanded capabilities of the Digital Forge and the material uptick in volume shipment of the FX20 expected in the latter half of this year, we remain confident in our ability to achieve our targets again in 2022,” says Mark Schwartz, Chief Financial Officer.
Business Outlook for Full-Year 2022
Full-year revenue is anticipated to be $114.0 - $123.0 million, representing year over year growth of 30% at the midpoint of that range.
Factoring in seasonality and FX20 revenue in the second half of the year, we expect 60% - 65% of our revenue will be recognized in the second half of the year.
Expectations continue for generating industry-leading gross margins, with full-year non-GAAP gross margin expected to be in the range of 55% - 57%.
We expect operating expenses to decline as a percentage of our revenue, resulting in a non-GAAP operating loss in the range of $52.0 - $57.0 million for the year.
We expect non-GAAP earnings per share results for the full year to be a loss in the range of $0.28 - $0.31 per share, based on an outstanding share count of approximately 186 million shares.
Beginning in the first quarter of 2022, we intend to supplement the reporting of our GAAP results with certain non-GAAP results for gross profit, operating profit, and earnings per share, intended to provide broader insight into how we manage our business. We believe this will provide a more meaningful set of data points, for comparison purposes, than our prior non-GAAP reporting of adjusted EBITDA.
Bought some MKFG down here.
And she's still buying. Innovation is at bargain basement prices right now.
I may not like all of Ms. Wood's stock picks, but I like many of them.
More importantly, I agree with Cathie Wood's investment logic regarding disruptive innovation.
I think this recent article sums things up very well:
"Stock market faces the most ‘massive misallocation’ of ‘capital in the history of mankind,’ says ARK’s Cathie Wood"
MUST WATCH >>>>> Disruptive Technology Video:
Almost daily she buys
FX20: the biggest, fastest, and smartest 3D printer Markforged has ever produced. Matching size with throughput, the FX20 can print larger parts at incredible speeds. Learn more: https://t.co/vxSKRQ0PTI pic.twitter.com/qRa7mh7jXh— Markforged (@Markforged) November 1, 2021