Financial ReportsMoney & Funding

Markforged reports Q2 2021 results: 44% revenue increase

Company started trading as MKFG and launched new products

Stay up to date with everything that is happening in the wonderful world of AM via our LinkedIn community.

Markforged Holding Corporation (NYSE: MKFG) reported that revenues increased by 44.1% to $20.4 million in the second quarter of 2021, up from $14.2 million in the second quarter of 2020. Gross profit also grew 60.0% to $11.9 million in the second quarter of 2021 from $7.5 million in the second quarter of 2020. Gross margins expanded to 58% (compared to 53%).

On July 14, 2021, MarkForged, Inc. completed its previously-announced merger with one (NYSE: AONE), a special purpose acquisition company, and debuted as Markforged Holding Corporation on the New York Stock Exchange on July 15, 2021, under the ticker symbol “MKFG.”

Markforged reports Q2 2021 results: 44% revenue increase
Shai Terem, President and CEO of Markforged

“We are pleased with our results as we look to continue to build momentum for the remainder of the year,” said Shai Terem, Markforged’s President and Chief Executive Officer. “The Digital Forge is helping solve critical manufacturing and supply chain challenges for our customers. We launched new key products and software updates this quarter as part of our strategy to meet the growing demand for our solutions. Our recent debut on the New York Stock Exchange energized and motivated our talented and hardworking team, and I look forward to seeing what we will accomplish together in the remainder of 2021.”

In the second quarter, Markforged launched key products such as the new Metal X Gen 2, Next Day Metal and X7 Field Edition to improve the speed, user experience and ability to print anywhere, enabling the Digital Forge to help customers overcome challenges more quickly and easily than before. The introduction of the FX20 3D printer is intended for robust production of high-strength, higher performance parts for those operating in demanding and regulated industries like aerospace, defense, and automotive.

In preparation for becoming a public company, Markforged continued to build out its management team and Board of Directors with several experienced and talented additions. The company welcomed Mark Schwartz as the Chief Financial Officer and Ken Clayton as Senior Vice President of Global Sales. Kevin Hartz, Carol Meyers, former CMO of Rapid 7, and Alan Masarek, former CEO of Vonage, also joined the Board of Directors upon the completion of the merger.

Research
Composites AM 2024

746 composites AM companies individually surveyed and studied. Core composites AM market generated over $785 million in 2023. Market expected to grow to $7.8 billion by 2033 at 25.8% CAGR. This new...

Federico Sher

Fede brings his background in architecture and design to VoxelMatters' vision. Working with all teams, he focuses on the company’s overall brand message, establishing and refining our strategy and overseeing long-term projects. Fede grew up in London, UK and graduated with first-class honours from the School of Architecture, Oxford Brookes.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close Popup
Privacy Settings saved!
Privacy Settings

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.

These cookies are necessary for the website to function and cannot be switched off in our systems.

Technical Cookies
In order to use this website we use the following technically required cookies
  • PHPSESSID
  • wordpress_test_cookie
  • wordpress_logged_in_
  • wordpress_sec

Decline all Services
Save
Accept all Services

Newsletter

Join our 12,000+ Professional community and get weekly AM industry insights straight to your inbox. Our editor-curated newsletter equips executives, engineers, and end-users with crucial updates, helping you stay ahead.