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Nano Dimension (Nasdaq: NNDM), a leading supplier of Additively Manufactured Electronics and 3D printers, has announced its Q2 2024 financial results conference call. The call is scheduled for August 20th, 2024, at 9:00 a.m. ET, following the release of financial results before the Nasdaq market opens.
Key executives, including CEO Yoav Stern, CFO/COO Tomer Pinchas, and VP of Corporate Development Julien Lederman, will host the call. Participants can register and access the call via webcast or phone. A replay will be available on Nano Dimension's website after the conference.
Nano Dimension serves over 2,000 customers across various industries, focusing on transforming electronics and mechanical manufacturing through AI-driven improvements and cloud-managed distributed manufacturing networks. The company designs and produces Additive Electronics and Additive Manufacturing 3D printing machines, offering rapid prototyping, high-mix-low-volume production, and design-for-manufacturing capabilities.
Nano Dimension (NNDM) has entered into an agreement to acquire Desktop Metal (DM) for $5.50 per share, amounting to roughly $183 million, with potential adjustments down to $4.07 per share, or $135 million. The acquisition is designed to create a leader in additive manufacturing, combining both companies' complementary technologies and product portfolios.
The merger aims to enhance customer penetration, diversify the customer base, and drive the industry transition to mass production. The combined company expects 2023 revenue of $246 million, with 28% from recurring streams. The transaction is anticipated to generate over $30 million in synergies, enhancing profitability and cash reserves, projected at approximately $665-$680 million post-transaction.
The acquisition has been unanimously approved by the boards of both companies and is expected to close in Q4 2024, pending regulatory approvals and other conditions.
Nano Dimension (Nasdaq: NNDM) announced preliminary financial results for Q2 2024, reporting unaudited consolidated revenues of approximately $14.8 million, an 11% increase from the previous quarter. This growth comes despite industry headwinds and is attributed to the 'Reshaping Nano Initiative,' which has improved performance. Full results for the quarter ended June 30, 2024, will be published later. Nano Dimension specializes in Additively Manufactured Electronics and multi-dimensional additive manufacturing solutions for metals, polymers, and ceramics, serving over 2,000 customers in sectors like aerospace, defense, automotive, and medical technology.
Murchinson , a major shareholder in Nano Dimension (NASDAQ: NNDM), has released an open letter criticizing recent actions by CEO Yoav Stern and Nano's Board of Directors. The letter raises concerns about a company-sponsored trip to Alaska for Stern and the Board, despite a recent 25% workforce reduction to cut costs. Murchinson suspects Nano might be in acquisition talks with Desktop Metal, triggered by a significant spike in Desktop Metal's stock price. They urge the Board to seek shareholder approval for any strategic deals and highlight ongoing legal challenges, including the pending ruling on the March 2023 EGM, where shareholders supported Murchinson's proposals. Murchinson vows to replace the Board and Stern at the 2024 AGM if necessary.
Nano Dimension (Nasdaq: NNDM) has announced the appointment of Ambassador Georgette Mosbacher to its Board of Directors. Mosbacher, an experienced executive and former U.S. Ambassador to Poland, brings extensive leadership expertise from both the private and public sectors. Her background includes roles as Chairman and CEO of Borghese and La Prairie Group AG, and advisory positions at organizations like Skybridge Capital and WISeKey. The company expects her diverse experience to help enhance its global presence and leadership in digital manufacturing. Mosbacher expressed enthusiasm about contributing to Nano Dimension's innovative path in manufacturing technologies.
Nano Dimension reported Q1/2024 results highlighting significant improvements in gross margins and a marked reduction in net cash burn. Gross margin increased to 46% from 44% year-over-year, while adjusted gross margin improved to 50% from 47%. The company reduced net cash burn by 75%, down to $7 million from $27.4 million in Q1/2023. Although total revenue slightly decreased to $13.36 million from $14.97 million, the company has seen a substantial improvement in operational efficiencies. Operating expenses have been significantly reduced, with notable decreases in R&D, sales, and marketing costs. However, the net loss for the quarter was $34.77 million, or $0.15 per share, compared to a net income of $22.22 million in Q1/2023. The company also decreased its outstanding shares by 15% to 219 million, enhancing shareholder value.
Nano Dimension has announced a significant enhancement to its Additive Electronics product line, specifically from its Essemtec Product Group. This new jet-on-the-fly capability increases dispensing speed by up to 3x, achieving approximately 180,000 dots per hour and up to 400,000 DPH for specific packages like BGA. The development promises to enhance efficiency, accuracy, and reliability in manufacturing, which is expected to improve unit economics and adoption rates of the company's systems. This advanced capability will be available to existing customers, aiming to meet the rising demand for faster dispensing speeds.
Olivier Carnal, General Manager of Nano Dimension’s Essemtec Product Group, highlighted the immediate performance improvements for both existing and new customers. CEO Yoav Stern emphasized that this advancement demonstrates the company's push towards expanding its footprint in the electronics manufacturing market.
Nano Dimension (NNDM) has announced a partnership with Esko and Fiery to offer a comprehensive Industry 4.0 solution for digital printing. The collaboration integrates Esko and Fiery's workflow automation, prepress, color management, and job management tools with Nano Dimension's advanced print control systems. This strategic move aims to support the rapid digital transformation of the printing industry, which is projected to grow from USD 93.10 billion in 2022 to USD 192.40 billion by 2031. The partnership is expected to deliver an end-to-end solution, enhancing efficiency and scalability for manufacturers.
Nano Dimension (Nasdaq: NNDM) will host a conference call on June 3rd, 2024, to discuss its financial results for the first quarter of 2024. Participants can access the call via webcast or phone. Nano Dimension is a leading supplier of Additively Manufactured Electronics and multi-dimensional polymer, metal, and ceramic Additive Manufacturing 3D printers.
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