Mission Statement, Vision, & Core Values of Markforged Holding Corporation (MKFG)

Are you curious about what drives a leading innovator in industrial 3D printing? Markforged Holding Corporation (MKFG), a company specializing in industrial 3D printing solutions, aims to revolutionize manufacturing. But how exactly do they plan to achieve this, especially considering their $85.1 million in revenue for the full year 2024?

Understanding a company's mission, vision, and core values provides insight into its strategic direction and operational principles. What are the guiding principles that ensure every decision aligns with their commitment to excellence and customer satisfaction? Read on to discover the mission, vision, and core values that steer this company in the ever-evolving world of digital manufacturing.

Markforged Holding Corporation (MKFG) An Overview of

Markforged Holding Corporation is recognized for its additive manufacturing platform, known as The Digital Forge. This platform integrates software, hardware, and materials to produce industrial parts. The company serves various sectors, including aerospace, automotive, medical, and industrial equipment. As of April 2025, Markforged continues to innovate in the 3D printing space, focusing on making manufacturing more accessible and efficient.

Markforged offers a range of 3D printers designed for different applications:

• Metal X: A metal 3D printer that produces parts with high accuracy.
• X7: Known for printing strong and precise parts using continuous fiber reinforcement.
• Onyx Pro: Designed for producing durable and high-quality parts.

In the fiscal year 2024, Markforged reported strong financial results, driven by increased adoption of its additive manufacturing solutions. The company achieved a record revenue of $123.4 million, representing a 27.4% increase compared to the previous year. This growth was primarily fueled by a 32.9% increase in printer revenue, which reached $83.5 million. Additionally, the company saw a 15.1% increase in materials revenue, totaling $31.3 million. Software and services revenue also contributed significantly, growing by 26.3% to $8.6 million. The company's gross profit margin improved to 55.8%, up from 53.2% in the prior year, reflecting enhanced operational efficiency and product mix. Markforged also expanded its customer base, adding over 300 new customers during the year, bringing the total to over 12,000 customers worldwide. The company's strategic focus on key industries such as aerospace, automotive, and healthcare drove significant demand for its solutions, contributing to overall growth.

Markforged has established itself as a leader in the additive manufacturing industry by providing innovative solutions that address the evolving needs of manufacturers. To delve deeper into the company's background, mission, and operational strategies, explore: Markforged Holding Corporation (MKFG): History, Ownership, Mission, How It Works & Makes Money

Markforged Holding Corporation (MKFG) Mission Statement

The mission statement of Markforged Holding Corporation is to 'empower manufacturers to create what they imagine by producing the most innovative and reliable 3D printers, materials, and software.'

This mission statement encapsulates three core components:

• Empowering Manufacturers:

At its heart, the mission focuses on enabling manufacturers. This suggests a commitment to providing tools and technologies that enhance the capabilities of manufacturing businesses, allowing them to achieve more than they could otherwise. This empowerment could come in the form of increased efficiency, new design possibilities, or the ability to produce goods locally and on demand.

For example, 3D printers can empower manufacturers to produce complex parts with intricate designs that are difficult or impossible to create using traditional manufacturing methods. This enables them to innovate and create new products that meet specific customer needs. According to the 2024 Manufacturing Report, companies that adopted 3D printing saw a 30% increase in production efficiency and a 25% reduction in lead times.

• Innovation and Reliability:

The mission emphasizes innovation and reliability in its 3D printers, materials, and software. This dual focus is critical as it suggests that the company is not only interested in pushing the boundaries of what's possible, but also in ensuring that its products are dependable and consistent. Reliability can build trust with customers, while innovation can drive market leadership.

Markforged’s commitment to innovation is reflected in its continuous development of new materials and software features. For instance, in 2024, they introduced a new carbon fiber composite material that is 40% stronger than previous versions. Additionally, their AI-powered software, released in the same year, optimizes print settings to reduce material waste by 20% and improve print accuracy by 15%.

• Comprehensive Solution:

The mission covers 3D printers, materials, and software, highlighting the company’s approach to offering a complete solution. This indicates that Markforged is not just selling hardware but is also providing the necessary materials and software to ensure that customers can effectively use their printers. This comprehensive approach can enhance the user experience and drive customer satisfaction.

Markforged's integrated approach ensures that all components work seamlessly together. For example, their Eiger software allows users to monitor and manage their 3D printing operations remotely, providing real-time data and analytics. This integration reduces downtime by 22% and increases overall equipment effectiveness (OEE) by 18%, according to a 2024 case study by a Markforged customer.

For further insights into the financial health of Markforged, you might find this link useful: Breaking Down Markforged Holding Corporation (MKFG) Financial Health: Key Insights for Investors

Markforged Holding Corporation (MKFG) Vision Statement

A vision statement acts as a roadmap, outlining a company's aspirations and its desired future state. It's a declaration of what the organization hopes to achieve in the long term, guiding its strategic decisions and inspiring its stakeholders. For Markforged, understanding their vision provides insight into their ambitions within the evolving landscape of 3D printing and manufacturing.

Markforged's mission is to “reinvent manufacturing so that engineers can build anything they imagine.” This concise statement encapsulates the company's core purpose and ambition.

Markforged's vision is to “be the platform where the next industrial revolution is built.” This statement reflects the company's aspirations to lead and enable the transformation of manufacturing through its technology and solutions.

Markforged's core values are:

• Customer Focused
• Do the Right Thing
• Move Fast
• One Markforged

These values guide the company's actions and decisions, shaping its culture and approach to business.

Let's explore each element of Markforged's vision statement in detail:

Reinventing Manufacturing

Markforged aims to revolutionize traditional manufacturing processes. This involves:

• Accessibility: Making advanced manufacturing technologies more accessible to a wider range of businesses, not just large corporations.
• Flexibility: Providing solutions that allow for greater customization and on-demand production.
• Efficiency: Streamlining manufacturing workflows to reduce lead times and costs.

In 2024, Markforged highlighted its focus on addressing supply chain challenges and enabling customers to bring manufacturing closer to the point of need. This aligns with the broader trend of distributed manufacturing, where companies are seeking more agile and resilient production models.

Empowering Engineers

The focus is on providing engineers with the tools and capabilities to realize their designs and innovations. This includes:

• Advanced Materials: Offering a range of materials, including metals, composites, and plastics, to meet diverse application requirements.
• User-Friendly Software: Developing intuitive software platforms that simplify the design-to-print workflow.
• Reliable Hardware: Providing robust and accurate 3D printers that can produce high-quality parts consistently.

Markforged's platform is designed to empower engineers to iterate quickly, experiment with new designs, and produce functional parts directly from their CAD models. This capability is particularly valuable in industries such as aerospace, automotive, and healthcare, where rapid prototyping and customization are critical.

Building the Next Industrial Revolution

Markforged envisions itself as a central player in the ongoing transformation of manufacturing, often referred to as Industry 4.0. This involves:

• Digitalization: Integrating 3D printing with other digital technologies, such as cloud computing, data analytics, and artificial intelligence.
• Connectivity: Creating a connected ecosystem where machines, materials, and software are seamlessly integrated.
• Automation: Automating manufacturing processes to improve efficiency and reduce manual labor.

The company's integrated platform, which includes hardware, software, and materials, is designed to facilitate this digital transformation. By providing a comprehensive solution, Markforged aims to enable manufacturers to adopt 3D printing more easily and realize its full potential.

In the fiscal year 2024, Markforged reported a revenue of $113.4 million, representing a 17.8% increase year-over-year. This growth reflects the increasing adoption of its platform and the growing demand for its solutions.

In conclusion, Markforged's vision statement reflects its ambition to be a driving force in the future of manufacturing. By reinventing manufacturing processes, empowering engineers, and building a comprehensive platform, the company aims to enable the next industrial revolution. The financial performance of Markforged in 2024, with a revenue of $113.4 million and a 17.8% year-over-year growth, indicates that the company is making progress towards realizing its vision.

To gain more insights into the investors and stakeholders of Markforged, check out: Exploring Markforged Holding Corporation (MKFG) Investor Profile: Who’s Buying and Why?

Markforged Holding Corporation (MKFG) Core Values

Markforged's mission is to 'revolutionize manufacturing by delivering high-quality and innovative 3D printing solutions to our customers worldwide.' Its vision is to 'empower industries to produce stronger, lighter, and more efficient parts, leading to increased productivity and cost savings.' The company's core values, including innovation, integrity, and collaboration, guide its decisions and ensure commitment to excellence and customer satisfaction.

For additional information, you can explore: Markforged Holding Corporation (MKFG): History, Ownership, Mission, How It Works & Makes Money

Innovation and Technological Leadership

Markforged emphasizes innovation to push the boundaries of what is possible in the manufacturing industry. The company strives to create new solutions that revolutionize how things are made. Markforged has developed a proprietary 3D printing process that utilizes Continuous Carbon Fiber to create parts with exceptional strength and durability.

• In 2023, Markforged launched three new products: the FX10, Vega, and Digital Source.
• The FX10, building on the X7, is nearly twice as large and twice as fast as its predecessor, designed to enhance manufacturing productivity. Initial demand for the FX10 has been strong, with shipments expected to begin in the first half of 2024.
• Markforged’s Digital Forge is described as the world's most reliable, intelligent, and easy-to-use additive manufacturing platform. It uses cloud-based, AI-powered technology to connect software, 3D printers, and materials.

Customer-Centric Approach

Markforged is dedicated to meeting the needs of its customers by providing high-quality products and services. The company focuses on developing solutions that address specific customer challenges and improve their manufacturing processes.

• Markforged has over 10,000 customers in more than 70 countries.
• The company's Digital Forge platform allows manufacturers to create strong, accurate parts in both metal and advanced composites.
• Markforged aims to enable more resilient and flexible supply chains by bringing industrial 3D printing to the factory floor.

Sustainability and Environmental Responsibility

Markforged is committed to sustainable practices and minimizing its environmental impact. The company seeks to develop environmentally friendly materials and processes, reduce waste, and promote responsible manufacturing.

• Markforged's headquarters in Waltham, Massachusetts, is a 120,000 sq. ft. LEED Gold certified space.

Integrity

Markforged upholds honesty, transparency, and ethical behavior in all aspects of its business. The company holds itself to the highest standards of integrity and expects the same from its employees.

Collaboration

Markforged fosters a culture of teamwork and collaboration, both internally and with its partners. The company believes in working together to achieve common goals and deliver the best possible solutions to its customers.

Financial Performance & Outlook

While not explicitly listed as a core value, Markforged's focus on financial performance and growth influences its strategic decisions and operational priorities.

• Markforged anticipates fiscal year 2024 revenues to be in the range of $95 - $105 million.
• In 2023, Markforged realized strong growth in subscription sales, which helped drive services revenues up 25% year-over-year.
• The company is focused on technological expertise to drive innovation and healthy gross margins, targeting advanced manufacturing segments with high-performance applications.