Nano Dimension reports $10M Q3 2022 revenues, +646%
Ytd revenues at +963%, with record $9M backlog
Nano Dimension Ltd. (Nasdaq: NNDM), a leading supplier of additively manufactured electronics (AME) and multi-dimensional polymer, metal & ceramic 3D printers, reported that on a preliminary basis, its unaudited approximated consolidated revenues stand at $10 million for Q3 2022, which represents a 646% increase over the same period in 2021. For the nine months period ended September 30th, 2022 revenue was $31.5 million, which represents a 963% increase over the same period in 2021.
The Company also reported a record-high backlog of above $9 million as of September 30th, 2022. Consolidated cash, investment in trading securities and deposits balances as of September 30th, 2022, were approximately $1,188,000,000.
While the results are certainly impressive and indicate the general good health of the companies that are now part of the Nano Dimensions group, the enormous growth rate should be read in light of the numerous acquisitions that the company completed after raising significant funds on the stock market, as it’s stock value hit a peak of nearly $20 per share in January 2021 (see chart below).
Those funds were subsequently utilized to acquire several more established companies, including Nano Fabrica (a specialist in polymer micro 3D printing), Adamtec/Formatec (which developed a stereolithographic technology to print ceramic and metal parts) and even a significant stake in AM industry leader Stratasys. Thus, the 963% growth in revenues reflects the combined revenues of all newly acquired assets against those of just Nano Dimension, as it stood before completing the acquisitions. In the next fiscal year we will be able to have a more accurate description of the state of the companies in the group.
The above information reflects preliminary estimates with respect to certain results of Nano Dimension for the third quarter and nine months ended September 30th, 2022, based on currently available information. The final results may vary from the preliminary estimates.
Nano Dimension will release its full financial results for the third quarter and nine months ended September 30th, 2022, before the Nasdaq market opens on Thursday, December 1st, 2022. Yoav Stern, Chairman and Chief Executive Officer, Yael Sandler, Chief Financial Officer, and Julien Lederman, Head of Corporate Development, will host a conference call on December 1st, 2022, at 9:00 a.m. ET, to discuss the financial results.
