Nano Dimension Reports 2020 Fourth Quarter and Full Year 2020 Financial Results
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Nano Dimension Reports 2020 Fourth Quarter and Full Year 2020 Financial Results

SUNRISE, Fla., March 11, 2021 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (Nasdaq: NNDM), an industry leading Additively Manufactured Electronics (AME) / PE (Printed Electronics) provider, today announced financial results for the fourth quarter and full year 2020. 

Nano Dimension reported revenues of $1,971,000 for the fourth quarter of 2020, and $3,399,000 for the full year 2020. The company ended the fourth quarter of 2020 with $670,934,000 in cash and bank deposits, while total loss for the fourth quarter was $17,439,000.

“We ended 2020 with a strong balance sheet and $671 million in cash and bank deposits, thanks to the equity offerings we concluded during the year, and we have strengthened it even more to a balance of nearly $1.5 billion as of the end of February 2021,” said Yael Sandler, Chief Financial Officer of Nano Dimension. “We recognized revenues of $3.4 million, which is lower than last year due to the effect of the COVID-19 pandemic, but better than what we originally expected. We are focusing our efforts on fulfilling our growth plan, both internal through product development and R&D efforts, as well as through external M&A activities.” 

Corporate Updates

Fourth Quarter 2020 Financial Results

Full Year 2020 Financial Results

Balance Sheet Highlights

Conference call information

The company will host a conference call to discuss these financial results today, March 11, 2021, at 9:00 a.m. EDT (4:00 p.m. IST). Investors interested in participating are invited to register for the conference call here: https://dpregister.com/sreg/10152462/e2dd1ebc94. Dial-in numbers, including a local Israeli number and instructions, will be provided upon registration. U.S. Dial-in Number: 1-844-695-5517, International Dial-in Number: 1-412-902-6751. Please request the “Nano Dimension NNDM call” when prompted by the conference call operator. The conference call will also be webcast live from the Investor Relations section of Nano Dimension’s website at http://investors.nano-di.com/events-and-presentations

For those unable to participate in the conference call, there will be a replay available from a link on Nano Dimension’s website at http://investors.nano-di.com/events-and-presentations

About Nano Dimension
Nano Dimension (Nasdaq: NNDM) is a provider of intelligent machines for the fabrication of Additively Manufactured Electronics (AME). High fidelity active electronic and electromechanical subassemblies are integral enablers of autonomous intelligent drones, cars, satellites, smartphones, and in vivo medical devices. They necessitate iterative development, IP safety, fast time-to-market, and device performance gains, thereby mandating AME for in-house, rapid prototyping and production. The DragonFly LDM® system is being deployed in a wide range of industries, including academic and research institutions, defense, aerospace, autonomous automotive, robotics, and biotech. Its ability to enable on-site prototyping in a matter of hours instead of weeks; create products with better performance; reduce the size and weight of electronic parts and devices; enable innovation; and critically important, protect IP, is a paradigm shift in how industry and research institutions will research, develop, and produce High-Performance Electronic Devices (Hi-PEDs™.) Nano Dimension machines serve cross-industry needs by depositing proprietary consumable conductive and dielectric materials simultaneously, while concurrently integrating in-situ capacitors, antennas, coils, transformers, and electromechanical components, to function at unprecedented performance. Nano Dimension bridges the gap between PCB and semiconductor integrated circuits. A revolution at the click of a button: From CAD to a functional high-performance AME device in hours, solely at the cost of the consumable materials. For more information, please visit www.nano-di.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Nano Dimension is using forward-looking statements in this press release when it discusses its growth plan, product development and R&D efforts, as well as through and potential M&A activities. Because such statements deal with future events and are based on Nano Dimension's current expectations, they are subject to various risks and uncertainties. Actual results, performance or achievements of Nano Dimension could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Nano Dimension’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 11, 2021, and in any subsequent filings with the SEC. Except as otherwise required by law, Nano Dimension undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Nano Dimension is not responsible for the contents of third-party websites.

NANO DIMENSION INVESTOR RELATIONS CONTACT
Yael Sandler, CFO |  ir@nano-di.com 

U.S. Investor Relations:
Dave Gentry
RedChip Companies Inc.
Dave@redchip.com 
407-491-4498 or 1-800-RED-CHIP (733-2447)

Consolidated Statements of Financial Position as at

  December 31, 
  2019  2020 
  Thousands
USD
  Thousands
USD
 
       
Assets      
Cash  3,894   585,338 
Bank deposits  -   85,596 
Restricted deposits  31   62 
Trade receivables  1,816   713 
Other receivables  570   1,126 
Inventory  3,543   3,314 
Total current assets  9,854   676,149 
         
Restricted deposits  377   406 
Property plant and equipment, net  4,743   5,092 
Right of use assets  2,673   3,169 
Intangible assets  5,211   4,440 
Total non-current assets  13,004   13,107 
Total assets  22,858   689,256 
         
Liabilities        
Trade payables  850   776 
Other payables  3,575   5,910 
Total current liabilities  4,425   6,686 
         
Liability in respect of government grants  1,044   850 
Lease liability  2,089   2,618 
Liability in respect of warrants  3,698   11,986 
Total non-current liabilities  6,831   15,454 
Total liabilities  11,256   22,140 
         
Equity        
Share capital  6,441   257,225 
Share premium and capital reserves  65,202   518,426 
Treasury shares  (1,509)  (1,509)
Presentation currency translation reserve  1,431   1,431 
Accumulated loss  (59,963)  (108,457)
Total equity  11,602   667,116 
Total liabilities and equity  22,858   689,256 

  

Consolidated Statements of Profit or Loss and Other Comprehensive Income
  

  For the Three-Month Period Ended
December 31,
  For the Year Ended
December 31,
 
  2019  2020  2019  2020 
  Thousand
USD
  Thousand
USD
  Thousand
USD
  Thousand
USD
 
             
Revenues  1,977   1,971   7,070   3,399 
                 
Cost of revenues  1,129   673   4,312   1,563 
                 
Cost of revenues - amortization of intangible  193   192   772   771 
                 
Total cost of revenues  1,322   865   5,084   2,334 
                 
Gross profit  655   1,106   1,986   1,065 
                 
Research and development expenses, net  1,525   3,725   8,082   9,878 
                 
Sales and marketing expenses  1,381   2,373   5,469   6,597 
                 
General and administrative expenses  881   3,539   3,270   20,287 
                 
Operating loss  (3,132)  (8,531)  (14,835)  (35,697)
                 
Finance income  1,842   275   8,765   446 
                 
Finance expense  91   9,183   2,283   13,243 
                 
Total comprehensive loss  (1,381)  (17,439)  (8,353)  (48,494)
                 
Basic loss per share (in USD) (after 1:50 reverse split effective June 29, 2020)  (0.35)  (0.20)  (2.38)  (1.13)

 


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