Nano Dimension(US:NNDM)2025-11-19 22:32Financial 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 [15] - 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 [15] - 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 [15] - Adjusted EBITDA for the quarter was a loss of $16.6 million compared to a loss of $15.3 million in Q3 2024 [16] - 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 [16] Business Line Data and Key Metrics Changes - Nano Dimension's standalone revenue, excluding Markforged, was approximately $9.4 million, down approximately 37% year-over-year due to strategic divestitures and softer demand amid macroeconomic uncertainties [15] - Operating expenses on a standalone basis decreased approximately 42% year-over-year, reflecting benefits from divestments and disciplined cost management [16] Market Data and Key Metrics Changes - The demand environment remains mixed, with pockets of strength in defense, aerospace, automotive, food and beverage, and next-generation networking [8] - The defense business continues to expand, driven by momentum across programs and increased adoption of the FX10 and FX20 platforms [9] - In aerospace, customers are adopting solutions to accelerate innovation and maintain rigorous quality standards [10] Company Strategy and Development Direction - The company is focused on improving operations, driving toward profitability, and maximizing asset value [5] - A strategic alternatives review process is underway to evaluate options for maximizing shareholder value and unlocking technology potential [6] - The company aims to capitalize on growing demand for advanced digital manufacturing solutions that merge additive manufacturing with adaptive electronic assembly [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 [7] - For Q4, the company expects revenue in the range of $31.5 million to $33.5 million, representing nearly 21% sequential growth at the midpoint [17] - Gross margin is expected to be between 47% and 48.5%, reflecting improved operating leverage and efficiency [18] Other Important Information - The company repurchased approximately $5.6 million of its shares during Q3 and an additional $11.5 million subsequent to the quarter end, believing the shares are significantly undervalued [5] - The company is aligning reporting processes with US GAAP standards to enhance transparency [5] Q&A Session Summary Question: What are the expectations for future revenue growth? - Management provided guidance for Q4, expecting revenue between $31.5 million and $33.5 million, indicating a moderate recovery across most markets [17] Question: How is the company addressing operating expenses? - The company expects operating expenses to be between approximately $28 million and $29 million for Q4, reflecting continued progress in aligning operations following the Markforged acquisition [19]