With Major Milestone Cleared, Closing of Transaction Expected in the Fourth Quarter, Pending Final Regulatory Approvals Waltham, Mass., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (Nasdaq: NNDM) ("Nano Dimension") and Desktop Metal, Inc. (NYSE: DM) ("Desktop Metal" or "DM") today jointly announced that, at a special meeting, Desktop Metal stockholders approved the merger agreement pursuant to which Desktop Metal would be acquired by Nano Dimension. Of approximately 33 million outstanding DM shares ...

Revenue for the Quarter of $14.7M is 21% Higher Year-Over-Year Waltham, Mass., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (Nasdaq: NNDM) ("Nano Dimension" or the "Company"), a leading supplier of Additively Manufactured Electronics ("AME") and multidimensional polymer, metal & ceramic Additive Manufacturing ("AM") 3D printing solutions, today announced its revenue, on a preliminary basis, for the third quarter ended September 30th, 2024. Nano Dimension reported unaudited approximated consolidated ...

Nano Dimension just gave investors some exciting news. Nano Dimension (NNDM 8.04%) stock is making big gains in Wednesday's trading. The company's share price was up 8.6% as of 2 p.m. ET. The 3D-printing semiconductor stock had been up as much as 10% earlier in the day's trading. Nano Dimension stock is surging thanks to news that the company is on track to acquire Markforged -- an industrial 3D-printing specialist. The news comes on the heels of Nano Dimension's announcement in July that it would be acquir ...

Core Viewpoint - The acquisition of Desktop Metal, Inc. by Nano Dimension Ltd. is progressing as the waiting period under the HSR Act has expired, allowing the deal to remain on track for a Q4/2024 closing [1][2][3] Group 1: Acquisition Details - The waiting period under the HSR Act has expired, meaning no further regulatory review by U.S. antitrust authorities is required for the acquisition [2] - The acquisition is still subject to other customary closing conditions, but this step keeps the timeline for closing in Q4/2024 on schedule [3] Group 2: Company Overview - Nano Dimension is a leading supplier of Additively Manufactured Electronics and 3D printing solutions, focusing on transforming manufacturing into an environmentally friendly and efficient process [4] - The company has served over 2,000 customers across various sectors, including aerospace, defense, automotive, and medical technology [6] - Nano Dimension's products include Additive Electronics manufacturing machines and solutions for producing metal, ceramic, and specialty polymer applications with high precision [6][7] Group 3: Strategic Focus - The company's strategy leverages deep learning-based AI to enhance manufacturing capabilities and manage a distributed manufacturing network via the cloud [5] - Nano Dimension aims to provide rapid prototyping, high-mix-low-volume production, and minimal environmental impact through its additive manufacturing solutions [7]

Financial Data and Key Metrics Changes - The company reported a strong quarter, achieving the best results ever, with revenues approximately 2% higher than the same quarter last year [3] - Gross margins increased to 45%, while adjusted gross margins remained similar to last year [3] - Cash burn was reduced by 54%, from $31 million to $11 million, due to a turnaround and expense reduction plan implemented earlier in the year [3][4] Business Line Data and Key Metrics Changes - The company highlighted significant customer acquisitions, including major players in the space and defense industries, with approximately 6 to 10 western armies and several three-letter agencies as customers [5][6] - The focus is shifting towards integrating various product lines into a broader industry context, moving beyond just additive manufacturing [6][7] Market Data and Key Metrics Changes - The additive manufacturing market is estimated to be around $15 billion annually, with a significant portion of that revenue generated by users of the technology rather than manufacturers [8][9] - The company aims to position itself within the Industry 4.0 framework, emphasizing the importance of digital transformation in traditional industries [7][8] Company Strategy and Development Direction - The company is pursuing a strategy of consolidation within the additive manufacturing sector, with plans for further acquisitions following the acquisition of Desktop Metal [11][12] - The focus is on developing a high-margin portfolio of additive materials and integrating software and AI into their offerings [13][14] Management's Comments on Operating Environment and Future Outlook - Management believes that the growth in robotics and automation will be steady but not dramatic, while specific segments of additive manufacturing, particularly metal, are expected to see higher growth [19][20] - The company is actively working on post-merger integration plans with Desktop Metal, aiming for a seamless transition and operational efficiency [24][25] Other Important Information - The acquisition of Desktop Metal is expected to close by the end of the year, pending regulatory approvals [16][26] - The company has allocated approximately $150 million for share buybacks, contingent on market conditions [27] Q&A Session Summary Question: Has there been a shift towards a more software-driven approach? - Management confirmed that software is becoming a key driver for sales, emphasizing its importance over hardware [17] Question: What are the growth prospects in additive versus robotics? - Management indicated that while robotics growth is stable, specific segments of additive manufacturing are expected to see significant growth [19][20] Question: Will there be more acquisitions after Desktop Metal? - Management stated that they will focus on integrating Desktop Metal while also exploring additional acquisitions within manageable limits [22] Question: How is the integration process with Desktop Metal progressing? - Management reported that teams from both companies are actively collaborating on integration plans to ensure a smooth transition post-acquisition [24] Question: What is the outlook for share buybacks? - Management confirmed that they have the approval to buy back shares and will do so based on market conditions [27] Question: What is the company's stance on the Stratasys acquisition? - Management clarified that while the previous offer is no longer relevant, they maintain a strategic relationship with Stratasys and see potential for future cooperation [32]

Financial Performance - Q2/2024 revenue reached a record $15.0 million, up 2% from $14.7 million in Q2/2023[2] - H1/2024 revenue totaled $28.4 million, down from $29.7 million in H1/2023[2] - The company reported a net loss of $44.3 million in Q2/2024, compared to a loss of $9.4 million in Q2/2023[3] - Revenues for the six months ended June 30, 2023, were $29,702,000, compared to $28,350,000 for the same period in 2024, reflecting a decrease of 4.5%[8] - The company reported a loss attributable to owners of $(78,743,000) for the six months ended June 30, 2024, compared to a profit of $13,103,000 in the same period of 2023[8] - Basic loss per share for the three months ended June 30, 2024, was $(0.35), compared to a gain of $0.05 in the same period of 2023[8] - Total comprehensive loss for the period ended June 30, 2024, was $(82,364,000), compared to a comprehensive income of $12,090,000 for the same period in 2023[8] Gross Margin and Profitability - Q2/2024 gross margin improved to 45.4%, up from 44.1% in Q2/2023, while H1/2024 gross margin was 45.8%, compared to 44.0% in H1/2023[2] - Gross profit for the three months ended June 30, 2023, was $6,495,000, while for the same period in 2024, it increased to $6,808,000, representing a growth of 4.8%[8] - Gross profit for the six months ended June 30, 2023, was $13,061, while for the same period in 2024, it slightly decreased to $12,986[31] Cash Flow and Expenses - Net cash burn reduced by 69% to $18 million in H1/2024, down from $58 million in H1/2023[4] - Research and development expenses for the six months ended June 30, 2023, were $35,636,000, significantly reduced to $18,254,000 in 2024, a decrease of 48.8%[8] - Operating loss for the six months ended June 30, 2023, was $(61,633,000), which improved to $(39,801,000) in 2024, indicating a reduction of 35.4%[8] - Finance income decreased from $80,780,000 in the six months ended June 30, 2023, to $21,846,000 in 2024, a decline of 73.1%[8] - The company experienced a significant increase in finance expenses, rising from $6,442,000 in the six months ended June 30, 2023, to $61,143,000 in 2024, an increase of 848.5%[8] - Net cash used in operating activities for the six months ended June 30, 2023, was $(56,116), and for the same period in 2024, it was $(30,690)[30] - Net cash from investing activities for the six months ended June 30, 2023, was $(149,803), while for the same period in 2024, it increased to $26,222[30] M&A Strategy and Future Outlook - A definitive agreement to acquire Desktop Metal was announced, with a total consideration of up to $183 million, potentially as low as $135 million[8] - The combined company is projected to have pro forma revenue of $246 million, with 28% from recurring revenue associated with consumables and services[8] - The company is focused on operational excellence and a M&A strategy to enhance shareholder value[9] - Nano Dimension is pursuing a transformational M&A strategy expected to significantly change its business scale and capabilities[18] - The acquisition aims to create a leader in additive manufacturing (AM) with a combined portfolio of advanced products and services[18] - Post-merger, Nano Dimension plans to prioritize improved EBITDA and reduced negative cash flow over top-line growth for several quarters[18] - The company anticipates a substantial growth rate in the transition to digital manufacturing solutions post-acquisition[18] Financial Position - As of June 30, 2023, total assets were reported at $1,194.15 million, a decrease from $1,301.02 million on March 30, 2024[22] - The company's liabilities as of June 30, 2023, were $523.55 million, compared to $669.95 million on March 30, 2024[22] - The unaudited financial position shows a cash balance of $172.19 million as of June 30, 2023, down from $138.45 million on December 31, 2023[22] - Cash and cash equivalents at the end of the period for June 30, 2023, were $454,555, compared to $231,777 at the end of June 30, 2024[30] Proxy Statement and Investor Information - The definitive proxy statement regarding the proposed transaction was filed with the SEC on August 15, 2024[20] - Investors are encouraged to read the proxy statement and other relevant documents for important information about the proposed transaction[20]

Best Quarter in Nano Dimension's History Continued Improvement in Financial Strength and Transformational M&A Transaction Quarterly Revenue Sets Record at $15.0 Million Up 2% from Q2/2023 Gross Margin Improvement of 136 bps 45.4% in Q2/2024, Up From 44.1% in Q2/2023 Adjusted Gross Margin Improvement of 75 bps 48.1% in H1/2024, Up From 47.3% in H1/2023 Company Reduces Net Cash Burn by 69% $18M in H1/2024, Down From $58M in H1/2023 Definitive Agreement Announced to Acquire Desktop Metal Following Quarter End ...

Core Insights - Nano Dimension Ltd. has appointed Ambassador Georgette Mosbacher to its Board of Directors, bringing a diverse perspective from her extensive experience in both the private and public sectors [1][5]. Company Overview - Nano Dimension is a leading supplier of Additively Manufactured Electronics (AME) and multidimensional polymer, metal, and ceramic Additive Manufacturing (AM) 3D printing solutions [1][6]. - The company's vision is to transform electronics and mechanical manufacturing into Industry 4.0, focusing on environmentally friendly and economically efficient precision additive manufacturing [6]. Leadership and Experience - Ambassador Mosbacher has a notable background as the former CEO of Borghese, Inc. and La Prairie Group AG, and she has held leadership roles in various organizations, including Skybridge Capital LLC and the Atlantic Council [2]. - She served as the U.S. Ambassador to Poland from 2016 to 2020, receiving the Grand Cross of the Order of Merit from the President of Poland for her service [3]. Strategic Goals - The company aims to extend its business to become an international digital manufacturing leader, leveraging Ambassador Mosbacher's global experience and ability to build bridges [5]. - Nano Dimension's strategy includes the application of deep learning-based AI to enhance manufacturing capabilities and manage a distributed manufacturing network via the cloud [7]. Product and Market Reach - Nano Dimension has served over 2,000 customers across various sectors, including aerospace, defense, advanced automotive, and medical technology [8]. - The company designs and manufactures Additive Electronics and 3D printing machines, enabling high-performance electronic devices and applications with micron precision [8][9].

Forward Looking Statements ©2024 Nano Dimension. All Rights Reserved. Distribution, Citation or Copying Without Permission is Strictly Prohibited. 2 Headline Financials ▪ 46% Gross margin (IFRS) Up from 44% in Q1/2023 ▪ $7M Net cash burn2 Business updates ▪ Reshaping Nano Initiative delivering results ▪ Expanding customer base $13.36M (vs. $14.97M) Revenue Q1/23 - spillover from 2022 | --- | --- | --- | |--------------------------------------------------------------------|-------|-------| | | | | | | | | | ...

Gross Margin Improvement of 235 bps 46.2% in Q1/2024, Up From 43.9% in Q1/2023 Adjusted Gross Margin Improvement of 265 bps 49.8% in Q1/2024, Up From 47.1% in Q1/2023 "Reshaping Nano Initiative" Taking Effect with 75% Improvement in Net Cash Burn $7.0M in Q1/2024, Compared to $27.4M in Q1/2023 Outstanding Shares Reduced by 15% to 219 Million, Over the Last 15 Months Strong Capital Position and Cash Management Keeps Company On Previously Announced Path of Net Cash Burn for 2024 to be $12-20M Conference Call ...