Nano Dimension reports 22% revenue growth in Q3 2023
Growth stands at 33% ytd and the company says most of it is organic
Nano Dimension Ltd. (Nasdaq: NNDM), a leading supplier of Additively Manufactured Electronics (AME) and multi-dimensional polymer, metal and ceramic Additive Manufacturing (AM) 3D printers, reported unaudited approximated consolidated revenues of $12.2 million for Q3 2023, a 22% increase over Q3/2022, and $41.9 million for the first nine months of 2023, a 33% increase over the same period in 2022.
Yoav Stern, Chief Executive Officer of Nano Dimension, commented: “The synergies that we insisted on analyzing and implementing when we performed acquisitions are leading our revenue growth of 33% for the first nine months of 2023 compared to the same period in 2022. Importantly, most of it is from organic revenue growth.
“Our competitors inform the public about a challenging macro environment – Stern continued – and while we share their opinions, we are proud that our better and leading organic growth performance is a testament to the strength of our strategy, operational expertise, and team. We closed some iconic new sales to industry-leading customers in the quarter. Given our pipeline, we look forward to closing even more strategic new relationships, and ultimately hoping to finish 2023 as the best year and organic growth we have ever done.”
The company does point out that this release reflects preliminary estimates with respect to certain financial results of Nano Dimension for the third quarter and nine months ended September 30th, 2023, based on currently available information. The final third quarter and nine months results may vary from the preliminary estimates.
In addition to the aforementioned results, Nano Dimension shared that inventory in one of its storage facilities was damaged in the Hamas attacks on Israel on October 7th, 2023. The Company does not expect this to impact its supply chain and especially its ability to meet existing promises to customers. There should be immaterial to no financial impact due to the Company’s insurance coverage.
