It is called coverstitch machine with 3 needles ,and what makes it great it that it can sew flat seams
I have folded over my faric just once and away i sew,on the front are three sittches as expected,
But on the back that seam allowance is encased inside of the stitch pattern.
And if it looks familliar ,go check a T-shirt you bought at the store. and you’ll see that they too coverstitch the hems.And best of all ,it has a lot of stretches in it as well.
I can even reduce it down to just 2 stitches on the front if I want.Just as beautifully encased on the back.
I can even sew together 2 pieces of fabric,a bit like a flat felled seam,and it is sturdy.A stitch you will see on a pair of jeans often.