Desktop Metal, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION

SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2023

22. SEGMENT INFORMATION

In its operation of the business, management, including the Company’s chief operating decision maker, who is also Chief Executive Officer, reviews the business as one segment. The Company currently ships its product to markets in the Americas, Europe Middle East and Africa (“EMEA”), and Asia Pacific (“APAC”). Disaggregated revenue data for those markets is as follows (in thousands):

Revenue for the three months ended June 30, 2023


	Americas		EMEA		APAC		Total
Products	$	29,344	$	13,933	$	4,121	$	47,398
Services		3,110		2,257		521		5,888
Total	$	32,454	$	16,190	$	4,642	$	53,286

Revenue for the three months ended June 30, 2022


	Americas		EMEA		APAC		Total
Products	$	37,414	$	11,319	$	3,939	$	52,672
Services		2,738		1,948		316		5,002
Total	$	40,152	$	13,267	$	4,255	$	57,674

Revenue for the six months ended June 30, 2023


	Americas		EMEA		APAC		Total
Products	$	53,602	$	22,655	$	7,838	$	84,095
Services		5,893		3,794		820		10,507
Total	$	59,495	$	26,449	$	8,658	$	94,602

Revenue for the six months ended June 30, 2022


	Americas		EMEA		APAC		Total
Products	$	65,343	$	19,912	$	6,893	$	92,148
Services		5,544		3,148		540		9,232
Total	$	70,887	$	23,060	$	7,433	$	101,380

During the three and six months ended June 30, 2023 and 2022, the Company recognized the following revenue from service contracts and cloud-based software licenses over time, and hardware and consumable product shipments and subscription software at a point in time (in thousands):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
Revenue recognized at a point in time	$	47,398	$	52,672	$	84,095	$	92,148
Revenue recognized over time		5,888		5,002		10,507		9,232
Total	$	53,286	$	57,674	$	94,602	$	101,380

The Company’s operations are principally in the United States. The locations of long-lived assets, including property, plant and equipment, net and operating lease right-of-use assets, are summarized as follows (in thousands):


	June 30,		December 31,
	2023		2022
Americas	$	48,875	$	56,145
EMEA		15,555		16,399
APAC		5,851		5,874
Total long-lived assets	$	70,281	$	78,418

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details