Markforged reports FY23 EPS (53c), consensus (27c)

Reports FY23 revenue $93.78M, consensus $91.1M. “We ended the year with positive momentum as we continued to execute our strategy to lead the adoption of additive manufacturing on the factory floor,” said Shai Terem, President and CEO of Markforged. “Although in the near term we expect elevated interest rates will continue to impact capital spending, the need for manufacturers to reduce costs and build more resilient supply chains remains a long-term tailwind driving demand for the Digital Forge. We have a strong product portfolio and are encouraged by robust utilization across our global fleet network. We look forward to realizing the growth potential our new products provide, especially in the second half of the year. We believe this, combined with our tight cost controls and strong balance sheet, keeps us on a clear path to profitability.”