Nano Dimension Reports Growth in Revenues and Record Third Quarter Revenues of $2.2 Million Based on Preliminary Results
October 24 2019 - 2:30AM
Nano Dimension Ltd., a leading additive electronics provider
(NASDAQ, TASE: NNDM), today released selected preliminary unaudited
estimates of financial results for the third quarter of 2019 and
reported record quarterly revenues of approximately $2,200,000 for
the third quarter of 2019, which represents 32% growth
year-over-year.
“Nano Dimension achieved record quarterly
revenues in the third quarter of 2019 reflecting an acceleration in
sales since the launch of the DragonFly LDM Lights-Out Digital
Manufacturing System,” said Amit Dror, CEO of Nano Dimension.
“During the second quarter of the year, we recognized potential
growth setbacks and took actions to work as quickly as possible to
address these issues. The third quarter preliminary results show
that our rapid response and strategy have put us back on track to
being competitive.”
“We are very proud of our achievements. Our new
DragonFly LDM system offers advanced capabilities and innovative
application possibilities, meeting customers’ expectations and the
needs of potential customers. We have added new customers to our
install base and many of our existing customers have expressed a
vote of confidence and purchased an LDM upgrade to their existing
DragonFly Pro system. Our unique technology, innovative solutions
and advanced applications offer substantial advantages to our
customers and are gaining brand awareness within the industry.”
Third Quarter 2019 Preliminary Estimates
of Financial Results and Business HighlightsThe
anticipated results presented in this release are based on
preliminary financial data and are subject to change until the
period-end financial reporting and review process is complete.
Highlights of Nano Dimension’s preliminary financial results for
the third quarter of 2019 include:
- In the third quarter of 2019, the company sold eight DragonFly
systems, four of which were sold to customers operating in the U.S.
defense industry. This brings the system sales in 2019 to 21
systems. The total install base is 51 systems worldwide.
- Revenue for the third quarter of 2019 is expected to be
approximately $2.2 million, compared to $1.16 million in the second
quarter of 2019 and $1.67 million in the third quarter of
2018.
- Increased ink consumption validates the company's recurring
revenue model.
- Many existing customers expressed a vote of confidence and
purchased an LDM upgrade to their existing DragonFly Pro
system.
- Nano Dimension introduced 3D printed capacitors embedded in
additively manufactured printed circuit boards (PCBs), saving space
and eliminating the need for assembly.
- The company ended the third quarter of 2019 with approximately
$5.5 million in cash on its balance sheet.
Conference call Details
The Company will release its results for the
third quarter 2019 before the Nasdaq market opens on Wednesday,
November 13, 2019.
Mr. Amit Dror, Chief Executive Officer, and Ms.
Yael Sandler, Chief Financial Officer, will host a conference call
on November 13, 2019, at 9:00 a.m. EDT, to discuss the financial
results.
To attend the conference call, please dial one
of the following teleconferencing numbers. Please begin by placing
your calls five minutes before the conference call commences. If
you are unable to connect using the toll-free number, please try
the international dial-in number.
U.S. Dial-in Number: 1-844-695-5517
International Dial-in Number: 1-412-902-6751
Israel Toll Free Dial-in Number: 1-80-9212373
At: 9:00 a.m. Eastern Time, 6:00 a.m. Pacific
Time, 4:00 p.m. Israel Time
Participants can register for the conference
call by navigating to http://dpregister.com/10136192. The
conference call will also be webcast live from the Investor
Relations section of Nano Dimension's website.
A replay will be available one hour after the
end of the conference call. Participants will be required to state
their name and company upon entering the call. To access the replay
from within the U.S., please dial (toll free): 1-877-344-7529 or
internationally: 1-412-317-0088 and use the replay conference ID
number: 10136192. To access the replay using an international
dial-in number, please select the following link:
https://services.choruscall.com/ccforms/replay.html.
About Nano Dimension
Nano Dimension (Nasdaq, TASE: NNDM) is a
leading electronics provider that is disrupting, reshaping, and
defining the future of how cognitive connected products are made.
With its unique 3D printing technologies, Nano Dimension is
targeting the growing demand for electronic devices that require
increasingly sophisticated features. Demand for circuitry,
including PCBs - which are the heart of every electronic device -
covers a diverse range of industries, including consumer
electronics, medical devices, defense, aerospace, automotive, IoT
and telecom. These sectors can all benefit greatly from Nano
Dimension’s products and services for rapid prototyping and
short-run manufacturing. For more information, please visit
www.nano-di.com.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates” and similar
expressions or variations of such words are intended to identify
forward-looking statements. For example, Nano Dimension is using
forward-looking statements in this press release when it discusses
preliminary unaudited estimates of financial results, when it
discusses the company being competitive, and when it discusses
releasing final results for the third quarter of 2019, and the
timing thereof. Because such statements deal with future events and
are based on Nano Dimension's current expectations, they are
subject to various risks and uncertainties. Actual results,
performance or achievements of Nano Dimension could differ
materially from those described in or implied by the statements in
this press release. The forward-looking statements contained or
implied in this press release are subject to other risks and
uncertainties, including those discussed under the heading “Risk
Factors” in Nano Dimension’s annual report on Form 20-F filed with
the Securities and Exchange Commission (“SEC”) on March 14, 2019,
and in any subsequent filings with the SEC. Except as otherwise
required by law, Nano Dimension undertakes no obligation to
publicly release any revisions to these forward-looking statements
to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events. References and
links to websites have been provided as a convenience, and the
information contained on such websites is not incorporated by
reference into this press release. Nano Dimension is not
responsible for the contents of third-party websites.
NANO DIMENSION INVESTOR RELATIONS CONTACTYael
Sandler, CFO | ir@nano-di.com
NANO DIMENSION PR CONTACT Galit
Beck, Public Relations Manager | 972-542539495 |
galit@nano-di.com
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