8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): March 15, 2021

Desktop Metal, Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-38835	83-2044042
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

63 Third Avenue Burlington, Massachusetts	01803
(Address of principal executive offices)	(Zip Code)

(978) 224-1244

Registrant’s telephone number, including area code

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A common stock, par value $0.0001 per share	DM	New York Stock Exchange
Warrants to purchase one share of Class A common stock	DM.WS	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

Item 2.02. Results of Operations and Financial Condition

On March 15, 2021, Desktop Metal, Inc. (the “Company”) issued a press release announcing its financial results for the fourth quarter and fiscal year 2020. A copy of the press release is attached to this Current Report as Exhibit 99.1.

Item 7.01. Regulation FD Disclosure.

On March 15, 2021, the Company issued a press release announcing the launch of a new business line, Desktop Health^TM. A copy of the press release is attached to this Current Report as Exhibit 99.2.

The information in set forth under Items 2.02 and 7.01 of this Current Report, including Exhibits 99.1 and 99.2, are furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section, and such information shall not be deemed to be incorporated by reference into any of the Company’s filings under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number	Description
99.1	Press release dated March 15, 2021 entitled “Desktop Metal Announces Fourth Quarter and Full Year 2020 Financial Results”
99.2	Press release dated March 15, 2021 entitled “Desktop Metal Launches Desktop Health to Redefine Patient-Specific Healthcare”

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		Desktop Metal, Inc.
Date:	March 15, 2021	By:	/s/ Ric Fulop
		Name:	Ric Fulop
		Title:	Chief Executive Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release dated March 15, 2021 entitled “Desktop Metal Announces Fourth Quarter and Full Year 2020 Financial Results”
99.2	Press release dated March 15, 2021 entitled “Desktop Metal Launches Desktop Health to Redefine Patient-Specific Healthcare”

EX-99.1

Exhibit 99.1

Desktop Metal Announces Fourth Quarter

and Full Year 2020 Financial Results

March 15, 2021

· Began trading on the NYSE as the world’s first and only public company focused on Additive Manufacturing 2.0 (AM 2.0)

· Commenced global shipments of the Shop System – our binder jetting platform focused on flexible, mid-volume production in job and machine shops

· Commenced global shipments of the Production System P-1 – our binder jetting development platform featuring breakthrough Single Pass Jetting™ technology

· Fourth quarter 2020 revenue of $8.4 million, up from $2.5 million in the third quarter of 2020

· Robust liquidity position with cash and cash equivalents and short-term investments of $595.4 million as of December 31, 2020 to support organic and inorganic growth opportunities

· Entered photopolymer additive manufacturing market through EnvisionTEC acquisition, which closed in the first quarter of 2021

BOSTON -- Desktop Metal, Inc. (NYSE: DM), (“Desktop Metal” or “the Company”), a leader in mass production and turnkey additive manufacturing solutions, today announced its financial results for the fourth quarter and full year ended December 31, 2020.

“The fourth quarter of 2020 was transformative for our Company as we became the only publicly traded pure-play AM 2.0 company.” said Ric Fulop, CEO and co-founder of Desktop Metal. “We achieved key milestones in our path to driving adoption of additive manufacturing with the global shipments of our Shop System and Production System P-1 solutions. Our acquisition of EnvisionTEC in February strengthens our market position by adding a compelling lineup of production-focused photopolymer printers and over 190 qualified materials to our portfolio. We are excited to continue building on our strong momentum by capitalizing on both high levels of customer interest and inorganic opportunities in the space as we enter this next chapter of our growth story.”

Fourth Quarter 2020 Business Highlights:

· Completed business combination between Trine Acquisition Corp. and Desktop Metal, Inc. to become the world’s first publicly traded, pure-play AM 2.0 company

· Received multi-million dollar award from the United States Department of Defense for the development of a high-volume manufacturing process to mass produce Cobalt-free hardmetal parts

· Launched Live Sinter, a new process simulation software for powder metallurgy-based additive manufacturing

· Commenced global shipments of Shop System, which became the #1 metal binder jetting system by unit share within its first quarter of salesⁱ

· Commenced global shipments of the Production System P-1

Fourth Quarter and Full Year 2020 Financial Highlights:

· Fourth quarter revenue of $8.4 million, up from $2.5 million in the third quarter of 2020

· Fourth quarter net loss of $25.4 million

· Full year revenue of $16.5 million

· Full year net loss of $90.4 million

· Full year Adjusted EBITDA of $(73.5) million

· Robust liquidity position with cash, cash equivalents and short-term investments of $595.4 million as of December 31, 2020

Recent Business Highlights:

· Acquired EnvisionTEC, a leading global provider of volume production photopolymer 3D printing solutions for end-use parts, in February 2021, creating a comprehensive product portfolio across metals, polymers, composites, and biocompatible materials while strengthening our global distribution channel

· Enhanced senior management team

o Appointed James Haley as Chief Financial Officer, effective February 12, 2021

o Appointed Arjun Aggarwal as Chief Product Officer, effective February 9, 2021

· Announced and commenced global shipments of Studio System 2, a second generation of our office-friendly metal 3D printing platform that offers customers an accessible way to print metal parts in low volumes with a simplified two-step process

· Streamlined capital structure and enhanced cash position by beginning the redemption process for DM public warrants, providing significant financial flexibility to invest in organic and inorganic growth opportunities with an additional $137 million in cash provided through March 10, 2021

Desktop Health:

In a separate press release issued today, Desktop Metal announced the launch of Desktop Health™, a new business dedicated to redefining patient-specific healthcare. Lead by healthcare industry executive, Michael Jafar, who brings nearly 20 years of experience creating and scaling breakthrough healthcare products, Desktop Health’s mission is to change the way patients experience personalized healthcare, through innovation and science-based solutions. The business will leverage Desktop Metal’s comprehensive portfolio of additive manufacturing solutions in combination with its extensive library of advanced materials for current and future applications spanning dentistry, orthodontics, dermatology, orthopedics, cardiology, plastic surgery and printed regenerative tissues and grafts. Additional details on this launch can be found in the separate press release, accessible on the Investor Relations section of Desktop Metal’s website, ir.desktopmetal.com.

Conference Call Information:

Desktop Metal will host a conference call on March 15, 2021 at 8:30 a.m. ET to discuss fourth quarter 2020 financial results. To listen to the conference call via telephone, dial 1-877-407-4018 or 1-201-689-8471 (international callers/U.S. toll) and enter the conference ID number 13717409. The conference call will be webcast simultaneously to the public through a link on the Investor Relations section of Desktop Metal’s website, ir.desktopmetal.com. A replay of the call will be accessible at the webcast link after the conference call.

Full Year 2020 Financial Results

DESKTOP METAL, INC.

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share amounts)

	December 31,
	2020			2019
Assets
Current assets:
Cash and cash equivalents	$	483,525		$	66,161
Short-term investments		111,867			84,754
Accounts receivable		6,516			4,523
Inventory		9,708			8,405
Prepaid expenses and other current assets		976			1,888
Total current assets		612,592			165,731
Restricted cash		612			612
Property and equipment, net		12,160			18,387
Capitalized software, net		312			446
Goodwill		2,252			2,252
Acquired technology, net		9,102			2,994
Other noncurrent assets		4,879			2,289
Total Assets	$	641,909		$	192,711
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	7,591		$	10,228
Customer deposits		1,480			2,325
Current portion of operating lease liability		868			806
Accrued expenses and other current liabilities		7,565			5,053
Deferred revenue		3,004			2,230
Current portion of long-term debt, net of deferred financing costs		9,991			—
Total current liabilities		30,499			20,642
Long-term debt, net of deferred financing costs		—			9,972
Lease liability, net of current portion		2,157			3,026
Total liabilities		32,656			33,640
Commitments and Contingences (Note 15)
Legacy Convertible Preferred Stock (Note 17)		—			—
Stockholders’ Equity
Preferred Stock, $0.0001 par value—authorized, 50,000,000 shares; no shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively		—			—
Common Stock, $0.0001 par value—500,000,000 shares authorized; 226,756,733 and 160,500,702 shares issued at December 31, 2020 and December 31, 2019, respectively, 224,626,597 and 154,913,934 shares outstanding at December 31, 2020 and December 31, 2019, respectively		23			16
Additional paid-in capital		993,933			453,242
Accumulated deficit		(384,694	)		(294,262	)
Accumulated other comprehensive (loss) income		(9	)		75
Total Stockholders’ Equity		609,253			159,071
Total Liabilities and Stockholders’ Equity	$	641,909		$	192,711

DESKTOP METAL, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

	Years Ended December 31,
	2020			2019
Revenues
Products	$	13,718		$	22,758
Services		2,752			3,681
Total revenues		16,470			26,439
Cost of sales
Products		26,945			45,268
Services		4,574			5,528
Total cost of sales		31,519			50,796
Gross margin		(15,049	)		(24,357	)
Operating expenses
Research and development		43,136			54,656
Sales and marketing		13,136			18,749
General and administrative		20,734			11,283
Total operating expenses		77,006			84,688
Loss from operations		(92,055	)		(109,045	)
Interest expense		(328	)		(503	)
Interest and other income, net		1,011			5,952
Loss before income taxes		(91,372	)		(103,596	)
Income tax benefit		940			—
Net loss	$	(90,432	)	$	(103,596	)
Net loss per share—basic and diluted	$	(0.57	)	$	(0.69	)

DESKTOP METAL, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(in thousands)

	Years Ended December 31,
	2020			2019
Net loss	$	(90,432	)	$	(103,596	)
Other comprehensive (loss) income, net of taxes:
Unrealized (loss) gain on available-for-sale marketable securities, net		(84	)		171
Total comprehensive loss, net of taxes of $0	$	(90,516	)	$	(103,425	)

DESKTOP METAL, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

	Years Ended December 31,
	2020			2019
Cash flows from operating activities:
Net loss	$	(90,432	)	$	(103,596	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		8,589			8,087
Stock-based compensation		8,006			5,215
Expense related to Common Stock warrants issued		1,915			1,038
Loss (gain) on disposal of property and equipment		18			(7	)
Gain on investment, related to Make Composites, Inc.		—			(1,426	)
Impairment of capitalized software		—			444
Amortization (accretion) of discount on investments		75			(1,570	)
Amortization of debt financing cost		19			19
Provision for bad debt		377			199
Net increase in accrued interest related to marketable securities		(3	)		(36	)
Income tax benefit		(940	)		—
Changes in operating assets and liabilities:
Accounts receivable		(2,370	)		(1,664	)
Inventory		(1,303	)		(1,694	)
Prepaid expenses and other current assets		901			809
Accounts payable		(2,637	)		(4,455	)
Accrued expenses and other current liabilities		(2,391	)		3,272
Customer deposits		(845	)		152
Deferred revenue		774			(1,693	)
Change in right of use assets and lease liabilities, net		(328	)		(296	)
Net cash used in operating activities		(80,575	)		(97,202	)
Cash flows from investing activities:
Purchases of property and equipment		(1,429	)		(6,867	)
Purchase of other investments		(3,000	)		—
Capitalized software		—			(321	)
Purchase of marketable securities		(136,286	)		(215,584	)
Proceeds from sales and maturities of marketable securities		109,016			196,836
Cash paid for asset acquisition, net of cash acquired		(5,284	)		(96	)
Net cash used in investing activities		(36,983	)		(26,032	)
Cash flows from financing activities:
Proceeds from Preferred Stock issuances, net of issuance cost		—			159,644
Proceeds from reverse recapitalization, net of issuance costs		534,597			—
Proceeds from exercise of stock options		325			708
Proceeds from PPP loan		5,379			—
Repayment of PPP loan		(5,379	)		—
Net cash provided by financing activities		534,922			160,352
Net increase in cash, cash equivalents, and restricted cash		417,364			37,118
Cash and cash equivalents at beginning of year		66,161			29,043
Restricted cash		612			612
Cash, cash equivalents, and restricted cash at year-end	$	484,137		$	66,773
Supplemental cash flow information:
Interest paid	$	322		$	485
Non-cash investing and financing activities:
Net liabilities assumed from Trine in Business Combination	$	2,650			—
Accrued reverse recapitalization transaction costs	$	1,901			—
Common Stock issued for acquisitions	$	500		$	3,563
Accrued purchase price for asset acquisition	$	200			—
Tax liabilities related to withholdings on Common Stock issued in connection with acquisitions	$	102			—
Additions to right of use assets and lease liabilities	$	—		$	296
Purchase of property and equipment included in accrued expenses and other current liabilities	$	—		$	109
Common Stock forfeited in satisfaction of note receivable	$	—		$	249

Non-GAAP Financial Information

This press release contains non-GAAP financial measures, including EBITDA and Adjusted EBITDA.

• EBITDA is GAAP net income (loss) excluding interest, income taxes and depreciation and amortization expense.

• Adjusted EBITDA is EBITDA excluding stock based compensation and warrant expenses.

In addition to Desktop Metal’s results determined in accordance with GAAP, Desktop Metal’s management uses this non GAAP financial information to evaluate the Company’s ongoing operations and for internal planning and forecasting purposes. We believe that this non GAAP financial information, when taken collectively, may be helpful to investors in assessing Desktop Metal’s operating performance.

We believe that the use of EBITDA and Adjusted EBITDA provides an additional tool for investors to use in evaluating ongoing operating results and trends because it eliminates the effect of financing, capital expenditures, and non-cash expenses such as stock-based compensation and warrants, and provides investors with a means to compare Desktop Metal’s financial measures with those of comparable companies, which may present similar non GAAP financial measures to investors. However, investors should be aware that when evaluating EBITDA and Adjusted EBITDA, we may incur future expenses similar to those excluded when calculating these measures. In addition, our presentation of these measures should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. Our computation of these measures, especially Adjusted EBITDA, may not be comparable to other similarly titled measures computed by other companies because not all companies calculate these measures in the same fashion.

Because of these limitations, EBITDA and Adjusted EBITDA should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. We compensate for these limitations by relying primarily on our GAAP results and using EBITDA and Adjusted EBITDA on a supplemental basis. Investors should review the reconciliation of net loss to EBITDA and Adjusted EBITDA below and not rely on any single financial measure to evaluate our business.

ADJUSTED EBITDA RECONCILIATION TABLE

	For the Years Ended
	December 31,
(Dollars in thousands)	2020			2019
Net loss attributable to common stockholders	$	(90,432	)	$	(103,596	)
Interest (income) expense, net		(610	)		(3,993	)
Income tax benefit		(940	)		—
Depreciation and amortization		8,589			8,087
EBITDA		(83,393	)		(99,502	)
Stock compensation expense		8,006			5,215
Warrant expense		1,915			1,038
Adjusted EBITDA	$	(73,472	)	$	(93,249	)

About Desktop Metal

Desktop Metal, Inc., based in Burlington, Massachusetts, is accelerating the transformation of manufacturing with an expansive portfolio of 3D printing solutions, from rapid prototyping to mass production. Founded in 2015 by leaders in advanced manufacturing, metallurgy, and robotics, the company is addressing the unmet challenges of speed, cost, and quality to make additive manufacturing an essential tool for engineers and manufacturers around the world. Desktop Metal was selected as one of the world’s 30 most promising Technology Pioneers by the World Economic Forum and named to MIT Technology Review’s list of 50 Smartest Companies.

For more information, visit www.desktopmetal.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to Desktop Metal’s potential and future performance, including its strategic focus, development of new product solutions, adoption or success of new technologies and applications, and anticipated results. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including risks and uncertainties set forth in the sections entitled “Cautionary Note Regarding Forward Looking Statements” and “Risk Factors” in the Annual Report on Form 10-K filed by Desktop Metal with the U.S. Securities and Exchange Commission (the “SEC”) on March 15, 2021, and the Company’s other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. The forward-looking statements included in this press release speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Desktop Metal assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Desktop Metal does not give any assurance that it will achieve its expectations.

For Desktop Metal Investor / Media Relations

Lynda McKinney

press@desktopmetal.com

Investor Relations

Mike Callahan / Tom Cook

DesktopMetalIR@icrinc.com

ⁱ Based on published figures available as of March 15, 2021.

EX-99.2

Exhibit 99.2

 

DESKTOP METAL LAUNCHES DESKTOP HEALTH

TO REDEFINE PATIENT-SPECIFIC HEALTHCARE

Additive Healthcare Business to Be Led by Industry Executive

Michael Jafar As President and CEO

● New healthcare business will leverage Desktop Metal’s comprehensive portfolio of additive manufacturing solutions for current and future applications spanning dentistry, orthodontics, dermatology, orthopedics, cardiology, plastic surgery and printed regenerative tissues and grafts

● Built on a proprietary technology infrastructure for end-use parts production, including Digital Light Processing (DLP), Continuous Digital Light Manufacturing (cDLM), and high-speed metal binder jetting, Desktop Health’s mission is to create future patient-specific solutions in the medical field

● Enabled by 3D Bioplotter, the industry’s most widely published translational bioprinting platform¹ and an extensive library of printable advanced materials to create breakthrough healthcare products

MARCH 15, 2021, BOSTON, MA and NEWPORT BEACH, CA -- Desktop Metal, Inc. (NYSE: DM), a leader in mass production and turnkey additive manufacturing solutions, today announced the launch of Desktop Health^TM, a new business line focused on accelerating the growth of additive manufacturing solutions for dental, orthodontic and otolaryngology applications. Furthermore, the combination of new additive manufacturing technologies, including bioprinting, high-speed metal binder jetting, and the use of advanced biocompatible materials across polymers, ceramics and metals, puts Desktop Health in a strong position to develop advanced healthcare applications.

“Today the world manufactures more than $85 billion in medical and dental implants each year²,” said Ric Fulop, CEO and co-founder of Desktop Metal. “We think a large percentage of these parts could be printed and made patient-specific before the end of the decade, making this market a key opportunity for Desktop Metal. We look forward to building a best-in-class team to work with our industry partners to bring patient-specific solutions to the market at-scale.”

To lead this new initiative, Desktop Metal has appointed healthcare executive Michael Mazen Jafar as President and CEO, Desktop Health. Jafar brings nearly 20 years of experience creating and scaling breakthrough healthcare products. Most recently he served as Chief Commercial Officer of Evolus (NASDAQ: EOLS), a performance beauty company, where he oversaw the launch of its flagship product, Jeuveau®. For 16 years, Jafar also led the ophthalmology and medical aesthetics division for Allergan, culminating as VP Marketing, U.S. Medical Aesthetics, and working on several of the company’s marquee brands, including Botox® Cosmetic, JUVEDERM® Collection and CoolSculpting®.

“I am excited to join Desktop Metal at such an important time in medical technology. I want to build on years of the company’s research and development to bring its core technology and advanced materials to many healthcare specialties,” said Jafar. “Desktop Health has a mission to change the way patients experience personalized healthcare, through innovation and science-based solutions.”

Leveraging Breakthrough Technologies Trusted in the Industry

Backed by 20 years of research, more than 1,400 published papers, and 3D Bioplotter and DLP technology, coupled with high-speed metal binder jetting additive manufacturing solutions, Desktop Health plans to leverage proven technology to create patient-specific solutions in the medical field.

“It’s a true privilege to work with leading technology alongside physicians, surgeons and dentists to advance personal care,” said Jafar. “Our technology is widely used for customized in-office digital dentistry, makes customized metal implants possible, and has enabled exploration of applications such as bone regeneration, cartilage regeneration, and soft tissue biofabrication. We look forward to building on our success and ingenuity as we research extensions of our core technology across cardiology, orthopedics, ophthalmology, dermatology and plastic surgery.”

About Desktop Metal

Desktop Metal, Inc., based in Burlington, Massachusetts, is accelerating the transformation of manufacturing with end-to-end 3D printing solutions. Founded in 2015 by leaders in advanced manufacturing, metallurgy, and robotics, the company is addressing the unmet challenges of speed, cost, and quality to make 3D printing an essential tool for engineers and manufacturers around the world. Desktop Metal was selected as one of the world’s 30 most promising Technology Pioneers by the World Economic Forum; named to MIT Technology Review’s list of 50 Smartest Companies; and recognized among the most important innovations in engineering in Popular Science’s “Best of What’s New.”

For more information, visit www.desktopmetal.com.

About Desktop Health

Desktop Health, based in Newport Beach, California, is leveraging additive manufacturing and advanced materials to personalize patient care. Desktop Health is vertically integrated to develop, manufacture and commercialize applications across a range of healthcare specialties. The company is rapidly focused on leveraging its bio printing capabilities across several key specialties.

For more information on Desktop Health, visit www.desktophealth.com.

FORWARD LOOKING STATEMENTS

This press release relates to a newly-launched business line, called Desktop Health, and contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to Desktop Health’s potential and future performance, including its strategic focus, development of new healthcare applications, adoption or success of new technologies and applications, and anticipated results. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including, but not limited to: (i) the ongoing COVID-19 pandemic and measures taken by Desktop Metal, its customers and suppliers, and governmental authorities in response thereto; (ii) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors, including downturns in the highly competitive additive manufacturing industry; (iii) the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities; (iv) the regulatory requirements that will apply to Desktop Health’s technology, products, materials and applications, including by the U.S. Food and Drug Administration and comparable agencies in other countries; (v) risks associated with products manufactured by Desktop Health, including product liability or warranty claims; and (vi) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward Looking Statements”” in the Annual Report on Form 10-K filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”) on March 15, 2021, and the Company’s other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. The forward-looking statements included in this press release speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Desktop Metal assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Desktop Metal does not give any assurance that it will achieve its expectations.

(1)  Based on Google Scholar citations from 2010 through 2020.

(2)  Allied Market Research, Medical Implant Market By Product Type: Global Opportunity Analysis and Industry Forecast, 2020 – 2027.

Press Contact

Lynda McKinney, 978-224-1282

Lyndamckinney@desktopmetal.com

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