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, 2024

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, 2024


	Americas		EMEA		APAC		Total
Products	$	18,454		8,632		4,325	$	31,411
Services		5,425		1,800		296		7,521
Total	$	23,879	$	10,432	$	4,621	$	38,932

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 six months ended June 30, 2024


	Americas		EMEA		APAC		Total
Products	$	44,465		15,948		6,629	$	67,042
Services		7,997		3,933		560		12,490
Total	$	52,462	$	19,881	$	7,189	$	79,532

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

During the three and six months ended June 30, 2024 and 2023, 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,
	2024		2023		2024		2023
Revenue recognized at a point in time	$	31,411	$	47,398	$	67,042	$	84,095
Revenue recognized over time		7,521		5,888		12,490		10,507
Total	$	38,932	$	53,286	$	79,532	$	94,602

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,
	2024		2023
Americas	$	30,953	$	46,390
EMEA		12,877		13,320
APAC		4,975		5,853
Total long-lived assets	$	48,805	$	65,563

- 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.

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+ Details