Markforged Holding Corporation. (NYSE:MKFG) Q1 2024 Earnings Conference Call May 8, 2024 5:00 PM ET
Company Participants
Austin Bohlig - Director, Investor Relations
Shai Terem - President and CEO
Assaf Zipori - CFO
Conference Call Participants
Greg Palm - Craig-Hallum
Tyler Hutin - William Blair
Troy Jensen - Lake Street Capital
Operator
Hello, and welcome to the Markforged First Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It’s now my pleasure to turn the call over to Austin Bohlig, Director of Investor Relations. Please go ahead.
Austin Bohlig
Good afternoon. I’m Austin Bohlig, Director of Investor Relations of Markforged Holding Corporation. Welcome to our first quarter of 2024 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 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, May 8, 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 schedule 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 Q1 2024 earnings call. We started 2024 with strong execution, setting a solid foundation for the year ahead. While the CapEx environment remained challenging in Q1, the market response to our new product has been very encouraging, and we are optimistic about the opportunities these products will bring in the second half.
With the FX10, FX20, PX100 and Digital Source, we believe we are positioned for growth as we drive the adoption of additive manufacturing on the factory floor to increase efficiency, reduce costs and improve supply chain resiliency. We want to begin by providing an update on the patent lawsuit with Continuous Composites.