Pros
Tons of fun perks, most people you interact with are very friendly and there are free lunches, beer, cold brew, etc. Many outings. A lot of work flexibility in engineering if you prove yourself. Work with a lot of smart people and many are willing to help you learn. Projects are really cool. Free access to 3D printing and machine shop for personal projects. High turnover rate which is bad, but it means you will know a lot of talented people who have moved on to better companies and can help you get a foot in the door. Overall it is a great company to work at fresh out of school, get a few years of experience, learn a lot, and make a ton of connections, then move on to a much higher paying job where you can work normal hours and work in a much more organized company.
Cons
Low salary and management constantly is dangling the carrot of "we are working to get near market rate" but they never will. Even if you get another job offer, Formlabs will give a lousy counter. They clearly have very set (low) values of what each position should be paid and refuse to go above that, despite the fact that many positions are very vague, especially on the Process team where some people are mechanical specialty, some software, some integration, but the "allowable pay bracket" is the same for all. Plus the CEO directly gates all individual raises, despite the fact that he doesn't even interact with many engineers. This is a nearly 600 person company, there should be a better system than that. Stock options are all but worthless unless you were hired more than 2 years ago or plan to stick around for 10 years and things go well. Upper management loves to gate engineering projects as they near completion despite not having any input or desire to be involved before that, wasting a lot of time. Deadlines are ridiculous and never are considered "real". You are highly encouraged to work well over 40 hours despite the poor compensation so many people get burnt out.