Markforged Is Maintaining Its FY23 Revised Revenue Guidance Of $90M-$95M Vs $105.49M Est.; EPS $(0.26)-$(0.28) Vs $(0.26) Est.
Portfolio Pulse from Benzinga Newsdesk
Markforged (MKFG) is maintaining its FY23 revenue guidance of $90M-$95M, which is below the estimated $105.49M. The company cites an uncertain macro environment and high cost of capital affecting customer purchases. Non-GAAP gross margins are expected to remain within 47%-48%. Markforged is focusing on profitable growth and has announced a reorganization to save $9-$12 million annually in opex starting in 2024, with one-time restructuring costs of about $0.9 million. The operating loss for the year is projected to be $59-$61 million, and the Non-GAAP EPS loss is expected to be $0.26-$0.28, including restructuring costs.
November 13, 2023 | 9:34 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Markforged is holding its FY23 revenue guidance at $90M-$95M, lower than the expected $105.49M, due to challenging economic factors. The company is undertaking a reorganization to improve profitability, which will result in significant opex savings but also includes one-time restructuring costs.
Maintaining a lower revenue guidance suggests that Markforged's financial performance may not meet market expectations, which could negatively impact investor sentiment and the stock price in the short term. The cost-saving measures indicate a proactive approach to improving profitability, but the associated restructuring costs and projected operating loss may further concern investors.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100