Nano Dimension Announces Strong Preliminary Q3/2023 Results
October 16 2023 - 8:30AM
Nano Dimension Ltd. (
Nasdaq:
NNDM, “Nano Dimension” or the “Company”), a leading
supplier of
Additively
Manufactured
Electronics (“AME”)
and multi-dimensional polymer, metal and ceramic
Additive
Manufacturing (“AM”) 3D
printers, today announced its financial results, on a preliminary
basis, for the third quarter and nine months ended September 30th,
2023.
Nano Dimension reported unaudited approximated
consolidated revenues of $12.2 million for Q3/2023, a 22%
increase over Q3/2022, and $41.9 million for the first nine
months of 2023, a 33% increase over the same period in 2022.
Yoav Stern, Chief Executive Officer of Nano
Dimension, commented: “The synergies that we insisted on analyzing
and implementing when we performed acquisitions are leading our
revenue growth of 33% for the first nine months of 2023 compared to
the same period in 2022. Importantly, most of it is from organic
revenue growth. Our competitors inform the public about a
challenging macro environment, and while we share their opinions,
we are proud that our better and leading organic growth performance
is a testament to the strength of our strategy, operational
expertise, and team. We closed some iconic new sales to industry
leading customers in the quarter. Given our pipeline, we look
forward to closing even more strategic new relationships, and
ultimately hoping finishing 2023 as the best year and organic
growth we have ever done.”
The information contained in this release
reflects preliminary estimates with respect to certain financial
results of Nano Dimension for the third quarter and nine months
ended September 30th, 2023, based on currently available
information. The final third quarter and nine months results may
vary from the preliminary estimates.
In addition to the aforementioned results, Nano
Dimension would like to share that inventory in one of its storage
facilities was damaged in the Hamas attacks on Israel on October
7th, 2023. The Company does not expect this to impact its supply
chain and especially its ability to meet existing promises to
customers. There should be immaterial to no financial impact due to
the Company’s insurance coverage.
About Nano DimensionNano
Dimension’s (Nasdaq: NNDM) vision is to transform existing
electronics and mechanical manufacturing into Industry 4.0
environmentally friendly & economically efficient precision
additive electronics and manufacturing – by delivering solutions
that convert digital designs to electronic or mechanical devices -
on demand, anytime, anywhere.
Nano Dimension’s strategy is driven by the application of deep
learning based AI to drive improvements in manufacturing
capabilities by using self-learning & self-improving systems,
along with the management of a distributed manufacturing network
via the cloud.
Nano Dimension has served over 2,000 customers across vertical
target markets such as aerospace & defense, advanced
automotive, high-tech industrial, specialty medical technology,
R&D and academia. The Company designs and makes Additive
Electronics and Additive Manufacturing 3D printing machines and
consumable materials. Additive Electronics are manufacturing
machines that enable the design and development of
High-Performance-Electronic-Devices (Hi-PED®s). Additive
Manufacturing includes manufacturing solutions for production of
metal, ceramic, and specialty polymers based applications - from
millimeters to several centimeters in size with micron
precision.
Through the integration of its portfolio of products, Nano
Dimension is offering the advantages of rapid prototyping,
high-mix-low-volume production, IP security, minimal environmental
footprint, and design-for-manufacturing capabilities, which is all
unleashed with the limitless possibilities of additive
manufacturing.
For more information, please visit
www.nano-di.com.
Forward-Looking StatementsThis
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 its preliminary
unaudited financial results for the third quarter ended September
30, 2023, assigning 2024 as year of profitability focus, the
Company’s pipeline and growth,its expected new relationships and
results for 2023 and the impact of the damage caused to the
Company’s inventory in Israel due to Hamas attack. 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 30, 2023, 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 CONTACT Investor Relations |
ir@nano-di.com
NANO DIMENSION MEDIA CONTACTSKal Goldberg / Bryan Locke / Kelsey
Markovich | NanoDimension@fgsglobal.com
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