Fathom has appointed a new CEO amidst a difficult financial situation.


Fathom Digital Manufacturing Corp. (NYSE: FATH) has announced a leadership change, appointing Carey Chen as its new Chief Executive Officer. Chen has an impressive background in global manufacturing and has been a member of Fathom’s Board of Directors since the company went public in 2021.

Prior to joining Fathom, Chen held leadership positions at Altix Corporation, Cadrex Manufacturing Solutions, and Incodema Holdings LLC. He also served as Executive Chairman and President at Cincinnati Incorporated, where he played a key role in the launch of the Big Area Additive Manufacturing system, which was the world’s largest 3D printer at the time. Chen has also served on the Board of Directors of New Valence Robotics Corporation (NVBots) and its metal 3D printing spinout, Digital Alloys, Inc.

Fathom has undergone a significant transformation over its 35-year history, starting as Midwest Composite Technologies and evolving into one of North America’s largest digital manufacturing bureaus after several acquisitions and restructuring efforts under CORE Industrial Partners. In an interview with 3DPrint.com, outgoing CEO Ryan Martin discussed the fragmented nature of the manufacturing industry and Fathom’s goal of becoming a consolidated service bureau to meet the diverse needs of enterprise customers.

While many private equity firms are now pursuing consolidation strategies, Fathom took a different path by going public via a SPAC during an economic downturn when SPACs were losing favor with investors. The challenging market conditions have been reflected in the company’s financial results for the second quarter and first half of 2023. Fathom’s revenue for the first half of the year dropped to $69.5 million, down from $82.5 million in the previous year, primarily due to lower production volumes influenced by a softer macroeconomic environment.

Despite these challenges, Fathom managed to generate a positive Adjusted EBITDA of $8.9 million, although with a reduced margin compared to the previous year. Among Fathom’s different product lines, precision sheet metal experienced the most significant decline in revenue, while CNC machining was less affected.

Fathom’s stock performance has also been volatile since its public listing. Starting at an inflated value of $197.4, it experienced a sharp decline before stabilizing. Recently, the company performed a reverse stock split to increase its per-share market price and meet the NYSE’s minimum $1.00 average closing price requirement.

With a new CEO in place, Fathom is taking steps to address its challenges and move towards a more positive direction. Given Carey Chen’s background, which includes experience at GE Additive, the company is hopeful that its 3D printing endeavors will gain traction under his leadership.

Title: Fathom Manufacturing: Navigating the Turbulent Waters of the 3D Printing Industry


In an ever-evolving industry like manufacturing, it can be challenging to determine the strength of a company’s management and financial decisions from an outsider’s perspective. Fathom, a prominent 3D printing service bureau, seems to have built a robust business model despite the traditional struggles faced by similar players in the industry. With a diverse range of offerings that includes both additive manufacturing (AM) and traditional production technologies, Fathom has positioned itself for long-term viability. In this blog post, we will explore the potential factors that could contribute to Fathom’s continued success, despite the challenging financial climate.

A History of Prominence:

Fathom has a rich history as a reliable service provider, garnering the support of private equity firm CORE Industrial Partners and establishing itself as a trusted name in the industry. The company’s certifications further enhance its credibility, with ISO 9001:2015 and AS9100 Rev. D certifications, ITAR Registration, and NIST 800-171 compliance. These credentials align with the global trend of embracing digital manufacturing for enhanced supply chain resilience and sustainable practices.

Surviving the Profitability Challenge:

Often, 3D printing service bureaus face significant hurdles in maintaining profitability. However, Fathom has found a way to thrive by diversifying its offerings. This approach has been successfully demonstrated by Proto Labs and proves that sustainability in the service manufacturing space is achievable. Fathom not only embraces various AM technologies but also incorporates traditional production methods, allowing the company to appeal to a broader range of customers.

Weathering the Storm:

Fathom’s decision to execute a Special Purpose Acquisition Company (SPAC) IPO may have occurred amidst an unfavorable financial climate. Still, the company’s robust business model and industry expertise could be key to its resilience. According to a report by Additive Manufacturing Research, the market for metal AM services is projected to reach $16.1 billion by 2031. If Fathom can stabilize its course, it is ideally positioned to capitalize on this burgeoning market segment, ensuring long-term growth and profitability.


As the 3D printing industry continues to evolve, Fathom Manufacturing stands out as not only a prominent service provider but also a company with a solid business model. Its diversification strategy, combined with the backing of private equity, demonstrates their commitment to maintaining profitability and navigating the challenges of the industry. With the potential for growth in metal AM services, Fathom’s resilience and market positioning could see them emerge as a key player in the coming years. As industry leaders, we should keep a close eye on Fathom’s journey and explore opportunities to leverage their expertise for our own success.

Stay tuned for more updates on the latest news from the thriving 3D printing industry, and don’t miss out on valuable information and offers from our trusted third-party vendors.

Original source


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