Fathom Digital Manufacturing Corp Stock Research

Market Summary

USD0.71+0.04

Market Closed

6.02%

FATH Stock Price

FATH RSI Chart

FATH Valuation

Market Cap

104.6M

Price/Earnings (Trailing)

1.31

Price/Sales (Trailing)

0.63

EV/EBITDA

2.34

Price/Free Cashflow

-8.39

FATH Price/Sales (Trailing)

FATH Profitability

Operating Margin

34.72%

EBT Margin

-809.97%

Return on Equity

-553.86%

Return on Assets

-116.39%

Free Cashflow Yield

-11.92%

FATH Fundamentals

FATH Revenue

Revenue (TTM)

163.6M

Revenue Y/Y

-3.06%

Revenue Q/Q

-4.23%

FATH Earnings

Earnings (TTM)

-576.9M

Earnings Y/Y

-14.0K%

Earnings Q/Q

-1.5K%

Price Action

52 Week Range

0.607.91

(Low)(High)

Last 7 days

14.8%

Last 30 days

-41.2%

Last 90 days

-46.6%

Trailing 12 Months

-89.1%

FATH Financial Health

Current Ratio

0.95

Debt/Equity

0.22

Debt/Cashflow

0.01

FATH Investor Care

Financials for Fathom Digital Manufacturing

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q3	2021Q2
Revenue	-1.0%	163,648,000	165,342,667	157,192,000	143,849,333	132,812,000
Gross Profit	0.4%	56,814,667	56,593,333	53,857,333	50,420,000	47,360,000
Operating Expenses	2223.7%	1,492,661,333	64,237,333	57,872,000	47,499,000	46,226,667
S&GA Expenses	3.5%	51,120,000	49,414,667	45,605,333	38,269,000	36,784,000
EBITDA	-1534.1%	-1,299,724,000	90,628,000	41,152,000	7,193,000	-
EBITDA Margin	-1549.0%	-7.94	0.55	0.27	0.05	-
Earnings Before Taxes	-2122.8%	-1,325,501,333	65,529,333	15,377,333	-14,109,000	-15,149,333
EBT Margin	-2143.7%	-8.10	0.40	0.10	-0.11	-
Interest Expenses	-25.6%	7,649,333	10,276,000	10,878,667	10,100,000	7,632,000
Net Income	-902.2%	-576,890,666	71,914,667	20,577,333	-10,744,000	-9,164,000
Net Income Margin	-827.1%	-3.53	0.48	0.35	0.01	-
Free Cahsflow	-37.2%	-5,942,666	-4,331,825	-16,150,049	-10,475,049	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Assets	-68.3%	496	1,563	1,570	1,566	283
Current Assets	-2.1%	54.00	55.00	58.00	61.00	47.00
Cash Equivalents	-28.0%	8.00	11.00	12.00	20.00	11.00
Inventory	12.3%	16.00	14.00	13.00	13.00	9.00
Net PPE	4.9%	49.00	47.00	46.00	45.00	41.00
Goodwill	-89.8%	122	1,188	1,190	1,189	83.00
Liabilities	-7.7%	230	249	289	306	201
Current Liabilities	-0.9%	57.00	58.00	57.00	50.00	194
Long Term Debt	-27.3%	125	172	-	-	-
LT Debt, Current	2.5%	32.00	31.00	25.00	30.00	170
LT Debt, Non Current	-1.3%	116	118	119	120	-
Shareholder's Equity	-81.5%	104	564	444	419	-
Retained Earnings	-4943.8%	-480	10.00	-24.51	-47.58	-22.29
Additional Paid-In Capital	5.0%	584	556	468	466	-
Accumulated Depreciation	56.3%	5.00	3.00	2.00	0.00	7.00
Shares Outstanding	0%	51.00	51.00	-	-	-
Float	-	67.00	-	-	-	-

Cashflow (Last 12 Months)					(In Thousands)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q3	2021Q2
Cashflow From Operations	31.6%	8,661	6,580	596	2,316	1,922
Share Based Compensation	44.9%	7,583	5,233	4,260	24.00	48.00
Cashflow From Investing	-5.6%	-14,604	-13,836	-86,985	-128,421	-166,286
Cashflow From Financing	1.4%	-10,528	-10,681	76,735	131,677	177,281

Risks for FATH

What is the probability of a big loss on FATH?

62.5%

Probability that Fathom Digital Manufacturing stock will be more than 20% underwater in next one year

61.5%

Probability that Fathom Digital Manufacturing stock will be more than 30% underwater in next one year.

61.5%

Probability that Fathom Digital Manufacturing stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does FATH drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Fathom Digital Manufacturing was unfortunately bought at previous high price.

Drawdowns

Returns for FATH

Cumulative Returns on FATH

Which funds bought or sold FATH recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	unchanged	-	17.00	17.00	-%
2023-02-22	CVA Family Office, LLC	added	-	-1,625,170	3,021,830	0.73%
2023-02-15	JANE STREET GROUP, LLC	unchanged	-	-4,565	3,435	-%
2023-02-15	Exor Capital LLP	unchanged	-	-710,000	1,320,000	0.10%
2023-02-15	Vestcor Inc	unchanged	-	-1,000	-	-%
2023-02-15	SIGULER GUFF ADVISERS, LLC	reduced	-9.57	-15,385,000	21,958,000	10.55%
2023-02-14	Royal Bank of Canada	added	813	1,000	1,000	-%
2023-02-14	CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	added	1.15	-2,870	5,130	-%
2023-02-14	ADVENT CAPITAL MANAGEMENT /DE/	unchanged	-	-736	264	-%
2023-02-14	CSS LLC/IL	added	61.37	-5,262	9,738	-%

Latest Funds Activity

Are funds buying FATH calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own FATH

No. of Funds

Fathom Digital Manufacturing News

Schedule 13G FIlings of Fathom Digital Manufacturing

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2022	altimar sponsor ii, llc	9.98%	14,547,500	SC 13G
Feb 14, 2022	citadel advisors llc	0.0%	6	SC 13G/A

FATH Fair Value

Recent SEC filings of Fathom Digital Manufacturing

View All Filings

Date Filed	Form Type	Document
Mar 10, 2023	4	Insider Trading
Mar 10, 2023	4	Insider Trading
Mar 10, 2023	4	Insider Trading
Feb 24, 2023	8-K/A	Current Report
Jan 31, 2023	4	Insider Trading
Dec 28, 2022	4	Insider Trading

Latest Insider Trading transactions for FATH

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-08	Martin Ryan	sold	-12,257	1.203	-10,189	chief executive officer
2023-03-08	Stump Richard L.	sold	-7,534	1.204	-6,258	chief commercial officer
2023-03-08	Frost Mark T	sold	-6,829	1.204	-5,672	chief financial officer
2023-01-27	Martin Ryan	sold	-94,756	1.43	-66,263	chief executive officer
2022-12-23	Chen Carey	sold (taxes)	-2,903	1.39	-2,089	-
2022-10-07	Chen Carey	sold (taxes)	-8,145	1.96	-4,156	-
2022-10-05	Stump Richard L.	sold (taxes)	-17,752	2.08	-8,535	chief commercial officer
2022-10-01	NARDELLI ROBERT L	acquired	-	-	19,396	-
2022-04-19	LEEMPUTTE PETER G	acquired	-	-	20,574	-
2022-04-19	Collens Caralynn Valerie	acquired	-	-	20,574	-

About Fathom Digital Manufacturing

Ryan Martin

fathommfg.com

710

Fathom Digital Manufacturing Corporation, a digital manufacturing platform, provides product development and manufacturing services in North America. It provides plastic and metal additive manufacturing, computer numerical control machining, injection molding and tooling, precision sheet metal fabrication, design engineering, urethane casting, and chemical etching. The company serves the technology, defense, aerospace, medical, automotive, and IOT sectors. The company was founded in 1984 and is headquartered in Hartland, Wisconsin.

FATH Income Statement

2022-09-30

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Revenue

$ 40,210

$ 41,481

$ 122,737

$ 107,887

Cost of revenue

^[1],[2],[3]

25,144

26,581

80,126

66,080

Gross profit

15,066

14,900

42,611

41,807

Operating expenses

Selling, general, and administrative

^[4]

11,960

10,681

38,341

27,111

Depreciation and amortization

4,627

2,148

13,595

7,355

Restructuring

996

Goodwill impairment

1,066,564

Total operating expenses

1,084,147

12,829

1,119,496

34,466

Operating (loss) income

(1,069,081)

2,071

(1,076,885)

7,341

Interest expense and other (income) expense

Interest expense

2,406

4,376

5,738

8,800

Other expense

442

276

9,007

Other income

(25,548)

(88,771)

(3,215)

Total interest expense and other (income) expense, net

(23,061)

4,818

(82,757)

14,592

Net loss before income tax

(1,046,020)

(2,747)

(994,128)

(7,251)

Income tax expense

729

167

807

Net loss

(1,046,107)

(3,476)

(994,295)

(8,058)

Net loss attributable to Fathom OpCo non-controlling interest (Note 14)

(556,027)

(561,728)

Net loss attributable to controlling interest

(490,080)

(3,476)

(432,567)

(8,058)

Comprehensive loss:

(Loss) Income from foreign currency translation adjustments

201

(107)

Comprehensive loss, net of tax

$ (490,080)

$ (3,275)

$ (432,674)

$ (7,962)

Class A and Class B Common Unit

Net loss per unit attributable to common stock/unit holders

Basic

^[5]

$ (0.72)

$ (2.63)

Diluted

^[5]

$ (0.72)

$ (2.63)

Weighted average common shares outstanding

Basic

7,723,592

Diluted

7,723,592

Class A Common Shares

Net loss per unit attributable to common stock/unit holders

Basic

$ (7.80)

$ (7.82)

Diluted

$ (7.80)

$ (7.82)

Weighted average common shares outstanding

Basic

62,816,174

55,348,018

Diluted

62,816,174

55,348,018

[1]	Inclusive of $0 and $0 of inventory step-up amortization for the three months ended September 30, 2022 and September 30, 2021, respectively; and $3,241 and $277 for the nine months ended September 30, 2022 and September 30, 2021, respectively;
[2]	Inclusive of $2,573 and $2,767of cost of revenue related to inventory purchases from a related party for the three months ended September 30, 2022 and September 30, 2021, respectively; and $7,513 and $6,200 for the nine months ended September 30, 2022 and September 30, 2021, respectively;
[3]	Inclusive of $1,707 and $1,130 of depreciation and amortization for the three months ended September 30, 2022 and September 30, 2021, respectively; and of $4,944 and $2,679 for the nine months ended September 30, 2022 and September 30, 2021, respectively;
[4]	Inclusive of $0 and $670 of management fees incurred to a related party for the three months ended September 30, 2022 and September 30, 2021, respectively; and $83 and $1,432 for the nine months ended September 30, 2022 and September 30, 2021, respectively; and
[5]	Basic and diluted net loss per unit amounts are the same for both Class A common units and Class B common units. See Note 13.

FATH Balance Sheet

2022-09-30

Consolidated Balance Sheets - USD ($)
$ in Thousands

Sep. 30, 2022

Dec. 31, 2021

Current assets

Cash

$ 8,004

$ 20,357

Accounts receivable, net

^[1]

27,237

25,367

Inventory

15,831

13,165

Prepaid expenses and other current assets

3,170

1,836

Total current assets

54,242

60,725

Property and equipment, net

49,197

44,527

Right-of-use operating lease assets, net

10,774

Right-of-use financing lease assets, net

2,308

Intangible assets, net

255,947

269,622

Goodwill

121,779

1,189,464

Other non-current assets

1,415

2,036

Total assets

495,662

1,566,374

Current liabilities

Accounts payable

^[2]

11,779

9,409

Accrued expenses

8,162

5,957

Current operating lease liability

2,164

Current financing lease liability

195

Contingent consideration

700

2,748

Current portion of debt

31,955

29,697

Other current liabilities

2,037

2,058

Total current liabilities

56,992

49,869

Long-term debt, net

116,187

120,491

Fathom earnout shares liability

11,910

64,300

Sponsor earnout shares liability

1,790

9,380

Warrant liability

5,900

33,900

Payable to related parties pursuant to the tax receivable agreement (includes $4,400 and $4,600 at fair value, respectively)

26,100

4,600

Noncurrent contingent consideration

850

Noncurrent operating lease liability

9,041

Noncurrent financing lease liability

2,176

Deferred tax liability

17,570

Other noncurrent liabilities

4,655

Total liabilities

230,096

305,615

Commitments and Contingencies:

Redeemable non-controlling interest in Fathom Holdco, LLC.

161,407

841,982

Shareholders' Equity:

Preferred Stock, $.0001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding as of September 30, 2022 and December 31, 2021

Additional paid-in-capital

584,313

466,345

Accumulated deficit

(480,167)

(47,581)

Shareholders' equity attributable to Fathom Digital Manufacturing Corporation

104,159

418,777

Total Liabilities, Shareholders' Equity, and Redeemable Non-Controlling Interest

495,662

1,566,374

Class A Common Shares

Shareholders' Equity:

Common stock

Class B Common Shares

Shareholders' Equity:

Common stock

Class C Common Stock [Member]

Shareholders' Equity:

Common stock

$ 0

[1]	Inclusive of allowance for doubtful accounts of $1,155and $1,150 as of September 30, 2022 and December 31, 2021, respectively
[2]	Inclusive of accounts payable to related parties of $375 and $1,246 as of September 30, 2022 and December 31, 2021, respectively