Nano Dimension Reports First Quarter 2025 Financial Results

Core Business Revenue of $14.4 Million, 8% Higher Year-Over-Year Conference Call Today at 4:30 PM EDT WALTHAM, Mass., June 12, 2025 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano Dimension” or the “Company”), a leader in Digital Manufacturing solutions, today announced its financial results for the first quarter ended March 31, 2025. The following information does not reflect the results or impact of Desktop Metal, Inc. (“Desktop Metal”) or Markforged Holding Corporation (“Markforged”) unless stated otherwise, as transactions concerning these companies were completed after the conclusion of the first quarter. First Quarter 2025 Highlights Revenue: $14.4 million, an 8% increase from $13.4 million year-over-yearGross Margin (“GM”): 41%, down from 46% year-over-yearAdjusted Gross Margin (“Adjusted GM”): 44%, down from 50% year-over-yearAdjusted EBITDA loss: $9.0 million, down from a loss of $13.6 million or 33% improved year-over-yearNet Loss: $24.0 million, down from a loss of $35.0 million or 31% improved year-over-yearTotal Cash, cash equivalents, deposits and investable securities: $840 million as of March 31, 2025, down from $907 million year-over-year Details regarding Adjusted EBITDA and Adjusted Gross Margin can be found below in this press release under “Non-IFRS Measures.” Ofir Baharav, Chief Executive Officer, commented, “In spite of the challenging economic environment, we were able to grow revenue while meeting our cost cutting commitments. Our transformation is well underway as we focused the Core business on the most impactful, high-performance customer solutions, and applied a disciplined operating model to drive efficiency and long-term value creation. We took action designed to realize more than $20 million in annualized operating costs savings from Q4 2025 onwards, targeting an improvement of revenue per employee of approximately 50% over historical levels. “Since our Markforged acquisition in April 2025, we’ve been applying the same rigorous approach to ensure their alignment with our financial and operational standards and we are well on our way to realize operational synergies, along with product and customer focus. “This is a pivotal time for Nano Dimension. We remain focused on building a scalable, profitable platform, and will continue updating shareholders, including in regard to Desktop Metal’s ongoing strategic assessment.” Business Transformation & Recent Developments Core Business Strategic Review: Delivered $20 million in annualized cost savings from Q4 2025 onwards through: Discontinuation of underperforming product lines including Admatec, DeepCube, Fabrica, and Formatec.Targeted headcount reductions and process optimization while preserving investment in high-growth areas. Desktop Metal Acquisition (Closed April 2, 2025): Desktop Metal has initiated an independent strategic assessment to address liabilities and liquidity issues. Markforged Acquisition (Closed April 25, 2025): Post-merger integration underway, following the same playbook applied to Core business. Operational Leveraging: Reviewing manufacturing footprint for optimization opportunities.Unifying software division to build a scalable platform and reduce backend costs. Product Innovation: Launched FOX Ultra and PUMA Ultra, next-gen SMT solutions from Essemtec. Corporate governance: Strengthening of board of directors with the addition of technology and growth experts Andy Sriubas and Eileen Tanghal (June 11, 2025) Financial results in detail First Quarter 2025 Financial Results Total revenues for the first quarter of 2025 were $14.4 million, compared to $13.4 million in the first quarter of 2024. The increase is attributed mostly to increased sales efforts for Nano Dimension’s diversified product portfolio.Total cost of revenues for the first quarter of 2025 was $8.5 million, compared to $7.2 million in the first quarter of 2024. The increase is mainly attributed to the above-mentioned increase in revenues.Research and development ("R&D") expenses for the first quarter of 2025 were $5.0 million, compared to $9.1 million in the first quarter of 2024. The decrease is mainly attributed to a decrease in payroll and related expenses, share-based payments, subcontractor and professional fees and other R&D expenses.Sales and marketing ("S&M") expenses for the first quarter of 2025 were $5.5 million, compared to $6.5 million in the first quarter of 2024. The decrease is mainly attributed to payroll and related expenses, as well as share-based payments and other S&M expenses.General and administrative ("G&A") expenses for the first quarter of 2025 were $3.5 million, compared to $9.6 million in the first quarter of 2024. The decrease is mainly attributed to a decrease in share-based payments, professional services and payroll and related expenses.Other expenses for the first quarter of 2025 were $30.8 million, compared to other income, net of $109 thousand for the first quarter of 2024. In the first quarter of 2025 the amount is mainly attributed to Desktop Metal litigation related expenses.Net loss attributable to owners for the first quarter of 2025 was $23.8 million or $0.11 loss per share, compared to net loss of $34.8 million, or $0.15 loss per share, in the first quarter of 2024. Conference Call Today Nano Dimension will host a conference call to discuss its financial results and strategic outlook today, June 12, 2025, at 4:30 p.m. EDT. Participants can also dial-in/connect by following the below: Listen in via US dial-in: 1-844-695-5517Listen via international dial-in: 1-412-902-6751Listen and view presentation via webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=uKTBW5Ak For those unable to participate in the conference call, there will be a replay available from a link on Nano Dimension’s website at http://investors.nano-di.com/events-and-presentations. About Nano Dimension Driven by strong trends in onshoring, national security, and increasing product customization, Nano Dimension (Nasdaq: NNDM) delivers advanced Digital Manufacturing technologies to the defense, aerospace, automotive, electronics, and medical devices industries, enabling rapid deployment of high-mix, low-volume production with IP security and sustainable manufacturing practices. For more information, please visit https://www.nano-di.com/. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding Nano’s future growth, strategic plan and value to shareholders, and all other statements other than statements of historical fact that address activities, events or developments that Nano intends, expects, projects, believes or anticipates will or may occur in the future. Such statements are based on management’s beliefs and assumptions made based on information currently available to management. These forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company’s actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Because such statements deal with future events and are based on the current expectations of Nano, they are subject to various risks and uncertainties. The forward-looking statements contained or implied in this communication are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Nano’s annual report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on May 12, 2025, and in any subsequent filings with the SEC. Except as otherwise required by law, Nano 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 communication. Contacts:Investors: nano-di@icrinc.com Media: NanoDimension@feintuchpr.com Unaudited Consolidated Statements of Financial Position as at(In thousands of USD) March 31, December 31, 2024 2025 20241 (Unaudited) (Unaudited) Assets Cash and cash equivalents 251,858 487,438 317,169 Bank deposits 541,164 257,227 440,790 Restricted deposits 60 60 537 Trade receivables 11,840 12,300 9,141 Other receivables 6,419 5,076 4,790 Inventory 19,698 16,832 16,899 Total current assets 831,039 778,933 789,326 Restricted deposits 879 766 768 Investment in securities 112,657 94,915 86,190 Property plant and equipment, net 16,078 13,057 14,143 Right-of-use assets 11,084 8,484 9,307 Intangible assets 2,235 2,076 2,155 Total non-current assets 142,933 119,298 112,563 Total assets 973,972 898,231 901,889 Liabilities Trade payables 4,123 30,685 4,249 Other payables 21,837 18,798 22,461 Current portion of lease liability 4,317 3,921 3,968 Current portion of bank loan 138 142 138 Total current liabilities 30,415 53,546 30,816 Liability in respect of government grants 1,989 873 843 Employee benefits 4,009 4,827 4,700 Long term lease liability 7,900 5,855 6,547 Bank loan 380 248 276 Total non-current liabilities 14,278 11,803 12,366 Total liabilities 44,693 65,349 43,182 Equity Non-controlling interests 857 491 715 Share capital 404,366 410,973 409,145 Share premium and capital reserves 1,298,973 1,300,382 1,304,617 Treasury shares (149,461) (167,651) (167,651)Foreign currency translation reserve 1,249 1,625 1,044 Remeasurement of net defined benefit liability (IAS 19) (726) (2,062) (2,062)Accumulated loss (625,979) (710,876) (687,101)Equity attributable to owners of the Company 928,422 832,391 857,992 Total equity 929,279 832,882 858,707 Total liabilities and equity 973,972 898,231 901,889 ___________________1 The December 31, 2024, balances were derived from the Company’s audited annual financial statements Unaudited Consolidated Statements of Profit or Loss and Other Comprehensive Income(In thousands of USD, except per share amounts) Three Months EndedMarch 31, Year endedDecember 31, 2024 2025 2024Revenues 13,364 14,401 57,775 Cost of revenues 7,142 8,392 31,125 Cost of revenues - write-down of inventories and amortization of technology 44 103 1,655 Total cost of revenues 7,186 8,495 32,780 Gross profit 6,178 5,906 24,995 Research and development expenses 9,133 4,977 37,157 Sales and marketing expenses 6,517 5,506 26,951 General and administrative expenses 9,602 3,472 40,059 Other expenses (income), net (109) 30,810 5,966 Impairment losses — 1,229 1,283 Operating loss (18,965) (40,088) (86,421)Finance income 11,311 18,035 43,540 Finance expenses 27,324 1,935 53,645 Loss before taxes on income (34,978) (23,988) (96,526)Taxes (expenses) benefit 16 (23) (397)Loss for the period (34,962) (24,011) (96,923)Loss attributable to non-controlling interests (190) (236) (1,029)Loss attributable to owners (34,772) (23,775) (95,894) Loss per share Basic loss per share (0.15) (0.11) (0.44) Other comprehensive income items that after initial recognition in comprehensive income were or will be transferred to profit or loss Foreign currency translation differences for foreign operations (1,704) 593 (1,944)Other comprehensive income items that will not be transferred to profit or loss Remeasurement of net defined benefit liability (IAS 19), net of tax (1,433) — (2,769)Total other comprehensive income (loss) for the period (3,137) 593 (4,713)Total comprehensive loss for the period (38,099) (23,418) (101,636)Comprehensive loss attributable to non-controlling interests (214) (224) (1,088)Comprehensive loss attributable to owners of the Company (37,885) (23,194) (100,548) Consolidated Statements of Changes in Equity (Unaudited)(In thousands of USD) Share capital Sharepremiumandcapitalreserves Remeasurement of IAS 19 Treasuryshares Foreigncurrencyreserve Accumulatedloss Total Non-controllinginterests Total equityBalance as of December 31, 2024 409,145 1,304,617 (2,062) (167,651) 1,044 (687,101) 857,992 715 858,707 Loss for the period — — — — — (23,775) (23,775) (236) (24,011)Other comprehensive income for the period — — — — 581 — 581 12 593 Exercise of warrants, options and vesting of RSUs 1,828 (1,828) — — — — — — — Share-based payments — (2,407) — — — — (2,407) — (2,407)Balance as of March 31, 2025 410,973 1,300,382 (2,062) (167,651) 1,625 (710,876) 832,391 491 832,882 Consolidated Statements of Cash Flows (Unaudited)(In thousands of USD) Three Months EndedMarch 31, Year endedDecember 31 2024 2025 2024Cash flow from operating activities: Net loss (34,962) (24,011) (96,923)Adjustments: Depreciation and amortization 2,066 1,500 6,675 Impairment losses — 1,229 1,283 Financing income, net (9,798) (7,383) (42,183)Loss (gain) from revaluation of financial assets and liabilities accounted at fair value 25,811 (8,717) 52,288 Share-based payments 3,460 (2,407) 13,883 Other 43 (32) 217 21,582 (15,810) 32,163 Changes in assets and liabilities: Decrease (increase) in inventory (2,287) 340 387 Decrease (increase) in other receivables 4,589 (371) 6,078 Decrease (increase) in trade receivables 313 (2,881) 2,950 Decrease in other payables (1,917) (4,026) (1,150)Increase (decrease) in employee benefits 51 38 (562)Increase (decrease) in trade payables (345) 26,362 47 404 19,462 7,750 Net cash used in operating activities (12,976) (20,359) (57,010) Cash flow from investing activities: Change in bank deposits (6,594) 177,395 100,530 Interest received 17,154 14,010 42,806 Change in restricted bank deposits (11) 474 (377)Acquisition of property plant and equipment (776) (295) (2,196)Acquisition of intangible asset (711) — (711)Net cash from investing activities 9,062 191,584 140,052 Cash flow from financing activities: Lease payments (1,140) (1,082) (4,524)Repayment long-term bank debt (73) (35) (180)Proceeds from non-controlling interests — — 555 Amounts recognized in respect of government grants liability (36) (43) (180)Payments of share price protection recognized in business combination (363) — (363)Repurchase of treasury shares (51,565) — (69,755)Net cash used in financing activities (53,177) (1,160) (74,447)Increase (decrease) in cash and cash equivalents (57,091) 170,065 8,595 Cash and cash equivalents at beginning of the period 309,571 317,169 309,571 Effect of exchange rate fluctuations on cash (622) 204 (997)Cash and cash equivalents at end of the period 251,858 487,438 317,169 Non-cash transactions: Property plant and equipment acquired on credit 286 54 69 Recognition of a right-of-use asset 158 55 1,275 Non-IFRS Measures The following are reconciliations of income before taxes, as calculated in accordance with International Financial Reporting Standards (“IFRS”), to EBITDA and Adjusted EBITDA, as well as of gross profit, as calculated in accordance with IFRS, to Adjusted Gross Profit: For the Three-Month Period Ended March 31, 2025 In thousands of USDNet loss (24,011)Tax expenses 23 Depreciation and amortization 1,500 Interest income (9,309)EBITDA (loss) (31,797)Finance income from revaluation of assets and liabilities (8,396)Exchange rate differences 1,573 Share-based payments (2,407)Desktop Metal litigation related expenses 28,069 Desktop Metal and Markforged transaction related expenses 1,515 Restructuring costs 1,180 Impairment losses 1,229 Adjusted EBITDA (loss) (9,034) Gross profit 5,906 Depreciation and amortization 209 Share-based payments 190 Adjusted gross profit 6,305 EBITDA is a non-IFRS measure and is defined as earnings before interest income, income tax, depreciation and amortization. We believe that EBITDA, as described above, should be useful in evaluating the performance of our business. EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting interest expenses (income), net), and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively) and EBITDA is useful to an investor in evaluating our operating performance because it is widely used by investors, securities analysts and other interested parties to measure a company’s operating performance without regard to the items mentioned above. Adjusted EBITDA is a non-IFRS measure and is defined as earnings before interest income, income tax, depreciation and amortization, share-based payments, exchange rate differences, finance expenses (income) for revaluation of assets and liabilities, Desktop Metal litigation related expenses, Desktop Metal and Markforged transaction related expenses, restructuring costs and impairment losses. We believe that Adjusted EBITDA, as described above, should also be useful in evaluating the performance of our business. Like EBITDA, Adjusted EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting other financial expenses (income), net), and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively), as well as from share-based payment payments, restructuring costs and impairment losses, and Adjusted EBITDA is useful to an investor in evaluating our operating performance because it is widely used by investors, securities analysts and other interested parties to measure a company’s operating performance without regard to non-cash items, such as expenses related to share-based payments. Adjusted gross profit, excluding depreciation and amortization and share-based compensation expenses, is a non-IFRS measure and is defined as gross profit excluding amortization expenses. We believe that adjusted gross profit, as described above, should also be useful in evaluating the performance of our business. Adjusted gross profit facilitates gross profit and gross margin comparisons from period to period and company to company by backing out potential differences caused by variations in amortization of inventory and intangible assets. Adjusted gross profit is useful to an investor in evaluating our performance because it enables investors, securities analysts and other interested parties to measure a company’s performance without regard to non-cash items, such as amortization expenses. Adjusted gross margin is calculated by dividing the adjusted gross profit by the revenues. EBITDA and Adjusted EBITDA, and Adjusted gross profit can be useful in evaluating our performance by eliminating the effect of financing and non-cash expenses such as share-based payments, however, we may incur such expenses in the future, which could impact future results. In addition, other companies, including companies in our industry, may calculate non-GAAP metrics differently or not at all, which may reduce the usefulness of this measure as a tool for comparison

Nano Dimension Reports First Quarter 2025 Financial Results

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