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

Quarterly report pursuant to Section 13 or 15(d)

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
Mar. 31, 2023
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	21. RELATED PARTY TRANSACTIONS As a result of other acquisitions, the Company assumed lease agreements with related parties for facilities across the United States which extend through 2029. As of March 31, 2023, the Company recorded $4.7 million of right of use asset and lease liability. During the three months ended March 31, 2023 and 2022, the Company paid lease expense of $0.2 million and $0.1 million, respectively, to the related party. The Company’s annual commitment related to these lease agreements is $0.8 million. The Company sells products to Lightforce Orthodontics which is affiliated with a member of the Company’s Board of Directors. Management believes the sales were conducted on terms equivalent to those prevailing in an arm’s-length transaction. During the three months ended March 31, 2023, the Company recognized $0.4 million of revenue from Lightforce Orthodontics. As of March 31, 2023, the Company has an account receivable balance of $0.4 million with Lightforce Orthodontics.

RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2023

21. RELATED PARTY TRANSACTIONS

As a result of other acquisitions, the Company assumed lease agreements with related parties for facilities across the United States which extend through 2029. As of March 31, 2023, the Company recorded $4.7 million of right of use asset and lease liability. During the three months ended March 31, 2023 and 2022, the Company paid lease expense of $0.2 million and $0.1 million, respectively, to the related party. The Company’s annual commitment related to these lease agreements is $0.8 million.

The Company sells products to Lightforce Orthodontics which is affiliated with a member of the Company’s Board of Directors. Management believes the sales were conducted on terms equivalent to those prevailing in an arm’s-length transaction. During the three months ended March 31, 2023, the Company recognized $0.4 million of revenue from Lightforce Orthodontics. As of March 31, 2023, the Company has an account receivable balance of $0.4 million with Lightforce Orthodontics.