Desktop Metal Announces Fourth Quarter and Full Year 2020 Financial Results

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.











For the Years Ended



December 31,

(Dollars in thousands)





Net loss attributable to common stockholders









Interest (income) expense, net









Income tax benefit








Depreciation and amortization


















Stock compensation expense









Warrant expense









Adjusted EBITDA









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