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Consolidated Statements of Cash Flows (Unaudited)
(In thousands of USD) | ||||||||||
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Six Months Ended
June 30, |
Three Months Ended
June 30, | Year Ended December 31, 2023 | ||||||||
| 2023 | 2024 | 2023 | 2024 | |||||||
| Cash flow from operating activities: | ||||||||||
| Net income (loss) | 12,553 | (79,223 | ) | (9,406 | ) | (44,261 | ) | (55,660 | ) | |
| Adjustments: | ||||||||||
| Depreciation and amortization | 2,963 | 3,431 | 1,540 | 1,365 | 6,544 | |||||
| Financing income net | (17,622 | ) | (17,840 | ) | (9,470 | ) | (8,042 | ) | (46,281 | ) |
| Revaluation of financial liabilities accounted at fair value | 485 | 33 | 294 | 11 | 461 | |||||
| Revaluation of financial assets accounted at fair value | (57,201 | ) | 57,104 | (11,925 | ) | 31,315 | (23,462 | ) | ||
| Loss from disposal of property plant and equipment and right-of-use assets | 345 | 6 | 221 | — | 326 | |||||
| Increase in deferred tax | (95 | ) | — | (92 | ) | — | (11 | ) | ||
| Share-based payments | 11,542 | 6,833 | 5,418 | 3,373 | 20,101 | |||||
| Other | 68 | 74 | 23 | 37 | 164 | |||||
| (59,515 | ) | 49,641 | (13,991 | ) | 28,059 | (42,158 | ) | |||
| Changes in assets and liabilities: | ||||||||||
| (Increase) decrease in inventory | (1,212 | ) | (1,899 | ) | (667 | ) | 388 | (340 | ) | |
| (Increase) decrease in other receivables | 669 | 5,845 | 1,520 | 1,256 | (5,775 | ) | ||||
| (Increase) decrease in trade receivables | (6,039 | ) | 3 | (2,331 | ) | (310 | ) | (5,603 | ) | |
| Increase (decrease) in other payables | (1,345 | ) | (3,779 | ) | (817 | ) | (1,862 | ) | 4,856 | |
| Increase (decrease) in employee benefits | (399 | ) | 132 | 162 | 81 | (1,478 | ) | |||
| Increase (decrease) in trade payables | (828 | ) | (1,410 | ) | (2,633 | ) | (1,065 | ) | 1,089 | |
| (9,154 | ) | (1,108 | ) | (4,766 | ) | (1,512 | ) | (7,251 | ) | |
| Net cash used in operating activities | (56,116 | ) | (30,690 | ) | (28,163 | ) | (17,714 | ) | (105,069 | ) |
| Cash flow from investing activities: | ||||||||||
| Change in bank deposits | (151,391 | ) | 5,412 | 77,106 | 12,006 | (189,060 | ) | |||
| Interest received | 17,998 | 22,715 | 6,706 | 5,561 | 41,529 | |||||
| Change in restricted bank deposits | (34 | ) | (25 | ) | 237 | (14 | ) | (27 | ) | |
| Acquisition of property plant and equipment | (7,121 | ) | (1,169 | ) | (3,177 | ) | (393 | ) | (9,098 | ) |
| Acquisition of intangible asset | — | (711 | ) | — | — | (1,524 | ) | |||
| Payment of a liability for contingent consideration in a business combination | (9,255 | ) | — | (5,295 | ) | — | (9,255 | ) | ||
| Other | — | — | — | — | 835 | |||||
| Net cash from (used in) investing activities | (149,803 | ) | 26,222 | 75,577 | 17,160 | (166,600 | ) | |||
| Cash flow from financing activities: | ||||||||||
| Lease payments | (2,471 | ) | (2,306 | ) | (1,251 | ) | (1,166 | ) | (4,823 | ) |
| Repayment long-term bank debt | (96 | ) | (107 | ) | (39 | ) | (34 | ) | (536 | ) |
| Proceeds from non-controlling interests | 550 | — | 550 | — | 1,089 | |||||
| Amounts recognized in respect of government grants liability | (172 | ) | (101 | ) | (87 | ) | (65 | ) | (298 | ) |
| Payments of share price protection recognized in business combination | (1,780 | ) | (363 | ) | (1,780 | ) | — | (4,459 | ) | |
| Repurchase of treasury shares | (19,741 | ) | (69,755 | ) | (1,349 | ) | (18,190 | ) | (96,387 | ) |
| Net cash used in financing activities | (23,710 | ) | (72,632 | ) | (3,956 | ) | (19,455 | ) | (105,414 | ) |
| Increase (decrease) in cash and cash equivalents | (229,629 | ) | (77,100 | ) | 43,458 | (20,009 | ) | (377,083 | ) | |
| Cash and cash equivalents at beginning of the period | 685,362 | 309,571 | 412,172 | 251,858 | 685,362 | |||||
| Effect of exchange rate fluctuations on cash | (1,178 | ) | (694 | ) | (1,075 | ) | (72 | ) | 1,292 | |
| Cash and cash equivalents at end of the period | 454,555 | 231,777 | 454,555 | 231,777 | 309,571 | |||||
| Non-cash transactions: | ||||||||||
| Intangible asset acquired on credit | — | — | — | — | 711 | |||||
| Property plant and equipment acquired on credit | 328 | 176 | (148 | ) | 176 | 214 | ||||
| Repurchase of treasury shares on credit | 3,518 | — | 3,518 | — | — | |||||
| Recognition of a right-of-use asset | 199 | 223 | 72 | 65 | 929 | |||||
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Nano Dimension Announces Q2/2024 and H1/2024 Results
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