• Disclaimer
  • Privacy Policy
Media Coverage
  • Analyst Ratings
  • Market coverage
  • Business news
  • Wealth
  • Stock Markets
  • World Economy
  • About Us
    • About us
    • Contact
No Result
View All Result
  • Analyst Ratings
  • Market coverage
  • Business news
  • Wealth
  • Stock Markets
  • World Economy
  • About Us
    • About us
    • Contact
No Result
View All Result
Media Coverage
No Result
View All Result
Home Market coverage

Fathom Digital Manufacturing Corp. Reports 5.9% Increase in Revenues in FY 2022, Despite Net Loss

Gabriel Bello Obando by Gabriel Bello Obando
March 31, 2023
in Market coverage
0
Stock Market News
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

Fathom Digital Manufacturing Corp. has reported a 5.9% increase in revenues in FY 2022, reaching $161.1 million. The company attributed this growth to acquisition-related activity and an increase in strategic accounts. However, the company also recorded a net loss of $1,109.2 million, which was due to a non-cash goodwill impairment charge.

Despite the overall growth in revenues, Fathom experienced a decrease in revenue during the fourth quarter of 2022, which was $38.4 million, a decline of 13.3% from the same period in 2021. The company stated that this was primarily due to lower production volumes.

Ryan Martin, CEO of Fathom Digital Manufacturing Corp., explained that the company’s fourth-quarter results were below expectations due to the ongoing softness in the macro environment and the continued ramp-up of new commercial activities.

To combat these challenges, Fathom plans to generate approximately $19.5 million in annualized cost savings upon completion of its plan in Q2 2023. The company aims to drive greater efficiencies in the business, ultimately leading to a more profitable future.

Overall, Fathom’s growth in revenues despite challenges faced during the past year showcases the company’s resilience and determination to succeed. With a plan in place to drive greater efficiencies and generate cost savings, Fathom is setting itself up for long-term success.

It will be interesting to see how the company progresses in the coming year and whether its efforts to combat ongoing challenges will pay off.

Fathom Digital Manufacturing Corp. is a leading provider of 3D printing and additive manufacturing solutions to a wide range of industries, including aerospace, medical, and consumer products. The company is known for its innovative approach to manufacturing and its commitment to delivering high-quality products to its customers.

Despite the challenges faced by Fathom and the broader manufacturing industry over the past year, the company remains optimistic about the future. In addition to its plan to drive greater efficiencies and generate cost savings, Fathom is also exploring new markets and expanding its product offerings.

For example, the company recently launched a new line of 3D-printed surgical instruments for the medical industry, which has received positive feedback from customers and industry experts alike. Fathom has also been working closely with its strategic accounts to identify new opportunities for growth and expansion.

Looking ahead, Fathom is well-positioned to continue its upward trajectory in the manufacturing industry. With its focus on innovation, efficiency, and customer satisfaction, the company is poised to thrive in a rapidly evolving market. As the world becomes increasingly dependent on technology and automation, companies like Fathom will play a critical role in driving economic growth and creating new opportunities for businesses and consumers alike.

Tags: Fathom Digital
Previous Post

SYLA Technologies Co., Ltd. Announces Pricing of Initial Public Offering

Next Post

Stocks Rise as Inflation Slows, Leading to Potential Fed Action

Next Post
Bull vs. Bear Market

Stocks Rise as Inflation Slows, Leading to Potential Fed Action

Wealth

Sugarhill Ddot’s Net Worth: Inside The Career of the Rising Drill Rap Star

by Gabriel Bello Obando
November 10, 2023
0

When it comes to the hip-hop scene in America, there are a few names that stand out. However, one name...

Read more

From Telenovelas to Hollywood: Exploring Kate del Castillo Net Worth and Career Achievements

June 1, 2023

Adamari López Net Worth: An Inspirational Tale of Resilience Beyond The Screen

June 1, 2023

Simon Helberg Net Worth: A Multi-Talented Hollywood Star

June 1, 2023

Sam Bailey Net Worth: Her Journey to Fame and Musical Career

June 1, 2023

Categories

  • Analyst Ratings
  • Business
  • Business news
  • Market coverage
  • Pre-IPO & Startups
  • Stock Markets
  • Wealth
  • World Economy

About Us

Our team of experienced journalists and industry experts is committed to providing you with the latest and most accurate information on a wide range of topics, from finance and technology to politics and the economy.

We are proud to be part of the Best Stocks team and to offer our readers exceptional content that is informed by our combined expertise. We look forward to continuing to serve our readers and to playing a key role in the world of business analysis and reporting.

READ MORE

  • Media Contacts
  • Journalist Contacts
  • Contact
  • About us
  • Disclaimer
  • Privacy Policy

© 2023 Media Coverage

No Result
View All Result
  • Analyst Ratings
  • Market coverage
  • Business news
  • Wealth
  • Stock Markets
  • World Economy
  • About Us
    • About us
    • Contact

© 2023 Media Coverage