Markforged Holding Corporation (NYSE:MKFG) Q4 2023 Earnings Conference Call March 7, 2024 5:00 PM ET

Company Participants

Austin Bohlig - Director, Investor Relations

Shai Terem - President and CEO

Assaf Zipori - CFO

Conference Call Participants

Troy Jensen - Lake Street Capital Markets

Danny Eggerichs - Craig-Hallum

Tyler Hutin - William Blair

Jacob Stephan - Lake Street Capital Markets

Operator

Greetings and welcome to the Markforged Fourth Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow a formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Austin Bohlig, Director of Investor Relations. Thank you, Austin. You may begin.

Austin Bohlig

Good afternoon. I’m Austin Bohlig, Director of Investor Relations of Markforged Holding Corporation. Welcome to our fourth quarter of 2023 results conference call. We will be discussing the results announced in our earnings press release issued after market close today. With me on the call is our; President and CEO, Shai Terem; and our CFO, Assaf Zipori.

Before we get started, I’d like to remind everyone that management will be making statements during this call that include estimates and other forward-looking statements which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.

Any statements contained in this call that are not statements of historical facts should be deemed to be forward-looking statements. These statements represent management’s views as of today, March 7th, 2024, and are subject to material risks and uncertainties that could cause actual results to differ materially. Markforged disclaims any intention or obligation, except as required by law, to update or revise forward-looking statements.

Also, during the course of today’s call, we refer to certain non-GAAP financial measures. There’s a reconciliation scheduled showing the GAAP versus non-GAAP results currently available in our press release issued after market close today, which can also be found on our website at investors.markforged.com.

I’ll now turn the call over to Shai Terem, President and CEO of Markforged.

Shai Terem

Thank you, Austin. And thank you, everyone for joining us on our Q4 2023 earnings call. We ended the year with a positive momentum as we continue to execute our strategy. While the challenging CapEx environment of 2023 delayed system sales were encouraged by 20% sequential revenue growth in the fourth quarter, which helped drive sales to the high end of our 2023 target range.