BOSTON - Desktop Health, a division of Desktop Metal, Inc. (NYSE: DM), has announced the qualification of Flexcera family resins for use with LuxCreo 3D printing systems. This move allows LuxCreo's dental 3D printers to create cosmetic, restorative, and removable dental prosthetics using Flexcera's nanoceramic polymers, which are FDA 510(k) cleared and have received similar certifications in Europe.
The Flexcera resins, which include Flexcera Smile Ultra+ for permanent and temporary restorations, Flexcera Smile for removable denture teeth, and Flexcera Base Ultra+ for full, removable denture bases and partials, are now available for purchase in the United States, United Kingdom, European Economic Area, and Canada. These materials are designed to deliver both aesthetic and mechanical properties suited for dental applications.
LuxCreo, known for its 3D printers such as the iLux Pro Dental and fastprint.io, is expanding its capabilities beyond orthodontic applications like aligners, surgical guides, and night guards. The partnership with Glidewell, the world's largest dental lab, enables LuxCreo's systems to now offer Flexcera resins, which could benefit more patients.
According to Lou Azzara, President of Desktop Health, the collaboration with LuxCreo will allow the delivery of high-quality dental prosthetics globally. Dr. Dane Dudley DDS of Lompoc Family Dental in Lompoc, California, highlighted the ability to provide All-on-X restorations in-house, thanks to the Flexcera and Glidewell fastprint.io 3D printing solution.
Desktop Health emphasizes that Flexcera resins are validated only on 3D printers that meet stringent criteria for print quality and patient safety. The resins have passed a series of ISO tests to ensure accuracy, mechanical properties, and biocompatibility.
The dental 3D printing market, where Flexcera and LuxCreo are now positioned, is expected to reach $8.1 billion by 2029, with a compound annual growth rate of 19% from 2023, driven by the increasing demand for cosmetic and functional dental procedures.
This expansion is based on a press release statement and reflects the current strategic steps by Desktop Health within the growing dental 3D printing industry.
"In other recent news, Nano Dimension (NASDAQ:NNDM) Ltd. is advancing in its acquisition of Desktop Metal, Inc., having cleared the U.S. antitrust hurdle. This development is a significant step towards the anticipated merger, which is expected to be finalized in the fourth quarter of 2024. The proposed acquisition is subject to Desktop Metal's shareholders' approval and other standard closing conditions.
In the financial sphere, Desktop Metal reported a Q2 2024 revenue of $38.9 million, a decrease from the previous year, mainly due to reduced hardware sales. However, the company managed to improve its adjusted EBITDA by $1.8 million compared to the same quarter in the previous year. Amid these financial challenges, Desktop Metal has ceased providing financial guidance for the rest of 2024 due to the pending acquisition with Nano Dimension.
The merger with Nano Dimension is expected to accelerate the transition to mass production in the additive manufacturing industry and provide a stronger financial profile for Desktop Metal. These are significant recent developments for both companies, and investors are advised to refer to official communications for further details."
InvestingPro Insights
As Desktop Health, a division of Desktop Metal, Inc. (NYSE: DM), forges ahead in the dental 3D printing market with its recent qualification of Flexcera resins, investors may take interest in the company's financial health and market performance. According to InvestingPro data, Desktop Metal has a market capitalization of $141.91 million, which can be indicative of the company's size and market share within the industry.
Despite the potential for growth in the dental 3D printing sector, Desktop Metal faces some financial challenges. An InvestingPro Tip suggests that the company is quickly burning through cash, which could be a concern for its ability to sustain operations and invest in new opportunities like the Flexcera resins. Additionally, analysts have revised their earnings downwards for the upcoming period, hinting at potential headwinds that the company may encounter.
From a valuation perspective, Desktop Metal's price-to-earnings (P/E) ratio stands at -0.37, reflecting negative earnings per share over the last twelve months as of Q2 2024. This may raise questions about the company's profitability in the short term. However, it's worth noting that the company's liquid assets exceed its short-term obligations, providing some financial cushioning to navigate the competitive landscape.
Investors looking to delve deeper into Desktop Metal's financials and market potential can find additional InvestingPro Tips, with a total of 15 tips available, offering a more comprehensive analysis of the company's prospects. These insights can be accessed at https://www.investing.com/pro/DM, which may help investors make more informed decisions regarding their interest in Desktop Health's endeavors within the dental 3D printing market.
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