Desktop Metal, Inc. (NYSE:DM) Q3 2023 Earnings Call Transcript

Greg Palm: Okay. And maybe just last question. You’ve talked about some big projects in a couple of verticals, automotive and consumer electronics, specifically. Any update on those — to those remain on track.

Ric Fulop: Yeah, they do. We continue to make progress across the board in a number of the area. Like all major projects, things always take a little bit longer, but we continue to make progress in this area. I think those are going to be major markets for our technology in the long run.

Greg Palm: Okay.

Jason Cole: Let me add one thing to Ric’s comments because I think it’s important and we mentioned in the prepared remarks as well. The consumables and services recurring revenue streams performing the way they are, I think, is of a bullish undertone here. I think, while we have had some purchase decisions on products delayed, we are seeing the utilization of our systems that are in place rising. And I think that is a trend. It’s the kind of the razorblade thing we’ve talked about in past calls, and so we’re encouraged by that.

Greg Palm: Yes. Thanks for commenting that out again. Okay, I will leave it there. Thanks.

Ric Fulop: Awesome. Wonderful. Well, we keep making great progress on titanium and many other areas. Great to have a P50 quarter this quarter with our friends at FreeFORM and many other things to come in this area. So thanks again for listening, and thanks to all of our employees that worked very hard to drive additive into mass production, in our investors for believing our vision, and look forward to next quarter.

Operator: Thank you. That concludes our question-and-answer session. Mr. Fulop, did you have any further comments?

Ric Fulop: No, we’re good.

Operator: Thank you. That concludes our conference call today. Thank you for your participation. You may now disconnect your lines.