This statistic highlights Desktop Metal Inc.’s Revenue by Segment from Q1 2020 till the latest quarter, split across Product and Services segments on a quarterly basis.
The company is based in Burlington, Massachusetts, and has raised $ 438 million in funding since its inception by investors such as Google Ventures, BMW, and Ford Motor Company. It is an American public technology company that designs and markets three-dimensional printing systems.
Desktop Metal Inc.’s Revenue by Segment
|Revenue by Segment||Q3 2020||Q2 2021||Q3 2021||Revenue mix by segment in Q3 2021|
(All figures are in millions, except percentages)
The total revenue of Desktop Metal increased at a high rate of 909.12% between Q3 2020 and Q3 2021. It also increased quarterly, i.e., between Q2 2021 and Q3 2021 at the rate of 33.98%.
The revenue from Desktop Metal is bifurcated into two segments namely Products and Services which are explained in the following paragraphs.
Desktop Metal produces three-dimensional printing solutions suitable for all scales of manufacturing ranging from composite templates and on-demanding tools for the brisk production of parts. It produces hardware items including fiber, the studio system, shop system, production system, and software items such as live parts, etc. The early customers from this segment include the United States Navy, Lumenium, Built-Rite Tool & Die.
The major proportion of total revenue comes from the product segment. It contributes a total of 94% to the company’s total revenue as of Q3 2021. Revenue from the product segment rose from $1.89 million in Q3 2020 to $23.95 million, marking a growth of revenue by $22.06 million on a year-on-year basis. It also increased on a quarter-on-quarter basis between Q2 2021 and Q3 2021 by $22.06 million, i.e., by 36.38%.
Desktop Metal conducts webinars and educational programs. It also publishes articles, explanatory videos, e-books, etc. The customers from this segment belong amongst the most ingenious companies in the world.
As compared to the product sector, the services segment contributes a significantly lesser proportion of revenue to the total revenue of the company. It adds 6% to the total revenue of the company as of Q3 2021. The revenue from this segment rose by $0.85 million, i.e., by 134.92% between Q3 2020 and Q3 2021 on a yearly basis. It also sloped upwards on a quarter-on-quarter basis from $1.43 million to $1.48 million between Q2 2021 and Q3 2021, i.e., by 0.05 million.
About the Company
Desktop Metal is a public manufacturing company that produces and supplies three-dimensional printing systems. It was founded in October 2015 in Massachusetts. The company is headquartered in Burlington in Massachusetts in the United States. It is known as the most rapid-growing Unicorn in the history of the United States. The company launched its first products in April 2017. It was also labeled as Technology Pioneer by the World Economic Forum in 2017.
The company comes under automotive, consumer goods, heavy industry, education, machine design, and manufacturing tooling industries. Desktop Metal acquired EnvisionTEC that is specialized in photopolymer printing in January 2021. In mid-2021, the company announced a new line namely Desktop Health which focuses on dentistry, orthodontics, orthopedics, cardiology, plastic surgery, dermatology, and printed regenerative. It is traded at the NYSE under the ticker symbol DM since December 2020.
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