Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $26.9 million, representing a year-over-year growth of approximately 81% compared to $14.9 million in Q3 2024, primarily driven by the inclusion of Markforged, which contributed $17.5 million [16] - Gross profit for the quarter was $12.7 million, with an adjusted gross margin of approximately 47.4%, down from 50% in the prior year [16] - Operating expenses for the quarter were $29.2 million, a year-over-year increase of approximately 29% from $22.7 million in Q3 2024, mainly due to Markforged inclusion [16] - Adjusted EBITDA for the quarter was a loss of $16.6 million compared to a loss of $15.3 million in Q3 2024 [17] - Total cash, cash equivalents, and investment securities as of September 30, 2025, were approximately $515.5 million, down from about $551 million at the end of the prior quarter [17] Business Line Data and Key Metrics Changes - Nano Dimension's standalone revenue was approximately $9.4 million, down approximately 37% year-over-year, driven by strategic divestitures and softer demand amid macroeconomic uncertainties [16] - Operating expenses on a standalone basis decreased approximately 42% year-over-year, reflecting benefits from divestments and disciplined cost management [17] Market Data and Key Metrics Changes - The demand environment remains mixed, with pockets of strength and areas where customers are cautious in spending [10] - Key target segments include defense, aerospace, automotive, food and beverage, and next-generation networking, with wins across these areas [10][11] - The defense business continues to expand, driven by momentum across programs and increased adoption of the FX10 and FX20 platforms [11] Company Strategy and Development Direction - The company is focused on improving operations, driving toward profitability, and maximizing asset value [6] - A strategic alternatives review process is underway to evaluate options for maximizing shareholder value and unlocking technology potential [7][8] - The company aims to maintain customer focus, advance platform integration, and execute its roadmap to drive durable growth [14] Management's Comments on Operating Environment and Future Outlook - Management noted challenges from tariff uncertainties and cautious capital spending but highlighted strong improvements in operating expenses [9] - The company expects revenue for Q4 2025 in the range of $31.5 million to $33.5 million, representing nearly 21% sequential growth at the midpoint [18] - Adjusted EBITDA loss for Q4 is expected to be between approximately $12 million and $14 million, indicating a 22% improvement compared to Q3 [20] Other Important Information - The company repurchased approximately $5.6 million of shares during Q3 and an additional $11.5 million subsequent to the quarter end, believing shares are significantly undervalued [6] - The first formal guidance for Q4 2025 was provided, reflecting operational improvements and a disciplined approach to financial management [18] Q&A Session Summary - No questions were raised during the Q&A session, and the call concluded with management expressing confidence in the company's progress and future direction [23][24]