WALTHAM, Mass., Sept. 17, 2025 (GLOBE NEWSWIRE) — Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano Dimension”, “Nano”, or the “Company”), a leader in digital manufacturing solutions, today announced financial results for the second quarter ended June 30, 2025.
The consolidated results incorporate the financial position and performance of Markforged Holding Corporation (“Markforged”) from the acquisition date of April 25, 2025, inclusive of revenue of $16.1 million, gross profit of $3.4 million and GAAP net loss of $10.3 million.
Desktop Metal, Inc. (“Desktop Metal”) was acquired by the Company on April 2, 2025. The Company determined that the Desktop Metal asset group qualified as ‘assets held for sale’ on the acquisition date, and the assets and liabilities held for sale are recorded as such on the condensed consolidated balance sheet as of June 30, 2025. The condensed consolidated statement of operations includes impairment of the asset group of $139.4 million and loss from operations for the period of acquisition through June 30, 2025 of $30.4 million which are both included within ‘net loss from discontinued operations’.
On July 28, 2025, following a process conducted by Desktop Metal’s independent Board of Directors to explore available strategic alternatives and address Desktop Metal’s significant liabilities and liquidity needs stemming from decisions made by its prior management, Desktop Metal and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”). Desktop Metal’s Chapter 11 filing was authorized by its independent Board of Directors. As part of its and its subsidiaries’ Chapter 11 cases, which are pending and are being jointly administered by the Bankruptcy Court under Case No. 25-90268 (CML), Desktop Metal has obtained approval from the Bankruptcy Court to sell various of its assets pursuant to Section 363 of the Bankruptcy Code.
Second Quarter 2025 Results:
- Revenue: $25.8 million, a 72.4% increase from $15.0 million year-over-year
- Gross Margin (“GM”): 27.3%, down from 44.7% year-over-year
- Adjusted Gross Margin (“Adjusted GM”): 44.7%, down from 46.1% year-over-year
- Adjusted EBITDA loss: $16.7 million, from a loss of $14.6 million year-over-year
- Net Loss from Continuing Operations: $11.4 million, down from a loss of $44.6 million year-over-year
- Total Cash, cash equivalents, deposits and investable securities: $551.0 million as of June 30, 2025, down from $840.4 million as of March 31, 2025 primarily due to the closing of the Markforged and Desktop Metal acquisitions closed during the quarter
Details regarding Adjusted EBITDA and Adjusted Gross Margin can be found below in this press release under “Non-GAAP Financial Measures.”
David Stehlin, Chief Executive Officer, commented, “As the new CEO of Nano Dimension, I am focused on building on our many strengths while also addressing challenges head on. Last week we initiated a strategic alternatives review, a deliberate and thoughtful process designed to unlock the full potential of Nano Dimension and maximize value for our shareholders. While this review is underway, we continue to advance our operations and pursue new opportunities. The addition of Markforged, in the second quarter, has expanded our reach into new markets and customers, bringing market-leading products and exceptional talent. While the Desktop Metal process has been challenging and cost-intensive, our balance sheet remains among the strongest in the industry. As we move through the second half of the year, we will stay focused on disciplined execution by advancing our technologies and enhancing our customer relationships that will continue to drive our next phase of growth.”
Recent Developments
- Leadership Change: David S. Stehlin has been appointed Chief Executive Officer, effective September 8, 2025.
- Strategic Initiatives: A formal review has been initiated to explore strategic alternatives aimed at maximizing shareholder value.
- Financial & Accounting: We successfully transitioned our financial reporting from IFRS to US GAAP.
- Markforged Acquisition Update (Closed April 25, 2025): We have fully consolidated the results of the Markforged business as of April 25, 2025.
- Cash position as of August 31, 2025: Total Cash, cash equivalents, deposits and investable securities for Nano Dimension, including Markforged, totaled over $520 million. This excludes any amounts related to Desktop Metal and reflects continued strong liquidity.
Conference Call Today
Nano Dimension will host a conference call to discuss its financial results, September 17, 2025, at 4:30 p.m. EDT.
Participants can also dial-in/connect by following the below:
Listen in via US dial-in: 1-844-695-5517
Listen via international dial-in: 1-412-902-6751
Listen via webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=cRJhknfB
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 Ltd.
Driven by strong trends in onshoring, national security, and increasing product customization, Nano Dimension Ltd. (Nasdaq: NNDM) delivers advanced Digital Manufacturing technologies to the defense, aerospace, automotive, electronics, and medical devices industries, enabling rapid deployment of high-mix, low-volume production with IP security and sustainable manufacturing practices.
For more information, please visit https://www.nano-di.com/.
Non-GAAP Financial Measures
EBITDA is a non-GAAP measure and is defined as earnings before interest income, income tax, depreciation and amortization. We believe that EBITDA, as described above, should be useful in evaluating the performance of our business. EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting interest expenses (income), net), and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively) and EBITDA is useful to an investor in evaluating our operating performance because it is widely used by investors, securities analysts and other interested parties to measure a company’s operating performance without regard to the items mentioned above.
Adjusted EBITDA is a non-GAAP measure and is defined as earnings before interest income, income tax, depreciation and amortization, share-based payments, exchange rate differences, finance expenses (income) for revaluation of assets and liabilities, Desktop Metal litigation related expenses, Desktop Metal and Markforged transaction related expenses, restructuring costs and impairment losses. We believe that Adjusted EBITDA, as described above, should also be useful in evaluating the performance of our business. Like EBITDA, Adjusted EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting other financial expenses (income), net), and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively), as well as from share-based payments, restructuring costs and impairment losses, and Adjusted EBITDA is useful to an investor in evaluating our operating performance because it is widely used by investors, securities analysts and other interested parties to measure a company’s operating performance without regard to non-cash items, such as expenses related to share-based payments.
Adjusted gross profit, excluding depreciation and amortization and share-based compensation expenses, is a non-GAAP measure and is defined as gross profit excluding amortization expenses. We believe that adjusted gross profit, as described above, should also be useful in evaluating the performance of our business. Adjusted gross profit facilitates gross profit and gross margin comparisons from period to period and company to company by backing out potential differences caused by variations in amortization of inventory and intangible assets. Adjusted gross profit is useful to an investor in evaluating our performance because it enables investors, securities analysts and other interested parties to measure a company’s performance without regard to non-cash items, such as amortization expenses. Adjusted gross margin is calculated by dividing the adjusted gross profit by the revenues.
EBITDA and Adjusted EBITDA, and Adjusted gross profit can be useful in evaluating our performance by eliminating the effect of financing and non-cash expenses such as share-based payments, however, we may incur such expenses in the future, which could impact future results. In addition, other companies, including companies in our industry, may calculate non-GAAP metrics differently or not at all, which may reduce the usefulness of this measure as a tool for comparison.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding Nano’s future growth, strategic plan and value to shareholders, and all other statements other than statements of historical fact that address activities, events or developments that Nano intends, expects, projects, believes or anticipates will or may occur in the future. Such statements are based on management’s beliefs and assumptions made based on information currently available to management. These forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company’s actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Because such statements deal with future events and are based on the current expectations of Nano, they are subject to various risks and uncertainties. The forward-looking statements contained or implied in this communication are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Nano’s annual report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on May 12, 2025, and in any subsequent filings with the SEC. Except as otherwise required by law, Nano 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 communication.
Contacts:
Investors: Purva Sanariya
Director, Investor Relations
[email protected]
Media: Samuel Manning
Principal Manager, External Communications
[email protected]
| NANO DIMENSIONS LTD. | ||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
| As of June 30, 2025 and December 31, 2024 | ||||||||
| (In thousands, except share data and par value amounts) (Unaudited) | ||||||||
|
June 30, 2025 |
December 31, 2024 |
|||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 184,545 | $ | 317,169 | ||||
| Bank deposits | 253,601 | 440,790 | ||||||
| Restricted deposits | 60 | 537 | ||||||
| Accounts receivable, net of allowance for expected credit losses ($2,357 and $811, respectively) | 25,314 | 9,141 | ||||||
| Inventory | 42,524 | 16,899 | ||||||
| Other current assets | 7,840 | 4,790 | ||||||
| Assets held for sale | 143,366 | — | ||||||
| Total current assets | 657,250 | 789,326 | ||||||
| Restricted deposits | 1,621 | 768 | ||||||
| Marketable equity securities | 111,203 | 86,190 | ||||||
| Property and equipment, net | 27,241 | 14,143 | ||||||
| Goodwill | 33,356 | — | ||||||
| Intangible assets, net | 23,672 | 2,155 | ||||||
| Right-of-use assets | 32,959 | 9,958 | ||||||
| Other assets | 1,536 | — | ||||||
| Total assets | $ | 888,838 | $ | 902,540 | ||||
| Liabilities and Stockholders’ Equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 12,012 | $ | 4,249 | ||||
| Accrued expenses | 17,518 | 18,771 | ||||||
| Deferred revenue | 12,014 | 3,523 | ||||||
| Short-term settlement payable | 1,000 | — | ||||||
| Current portion of bank loan | 157 | 138 | ||||||
| Lease liabilities | 9,519 | 3,421 | ||||||
| Liabilities held for sale | 136,598 | — | ||||||
| Total current liabilities | 188,818 | 30,102 | ||||||
| Long-term settlement payable | 4,664 | — | ||||||
| Long-term deferred revenue | 3,993 | — | ||||||
| Employee benefits | 5,340 | 4,700 | ||||||
| Long-term lease liabilities | 26,282 | 6,707 | ||||||
| Long-term bank loan | 235 | 276 | ||||||
| Total liabilities | 229,332 | 41,785 | ||||||
| Commitments and contingencies | ||||||||
| Stockholders’ equity | ||||||||
| Non-controlling interests | — | 715 | ||||||
| Share capital of NIS 5 par value each; 500,000,000 ordinary shares authorized; 218,362,257 and 215,777,000 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively | 412,766 | 409,145 | ||||||
| Share premium and capital reserves | 1,297,822 | 1,297,348 | ||||||
| Treasury shares | (167,651 | ) | (167,651 | ) | ||||
| Foreign currency translation reserve | 2,763 | 1,044 | ||||||
| Remeasurement of net defined benefit liability | (2,181 | ) | (2,181 | ) | ||||
| Accumulated loss | (884,013 | ) | (677,665 | ) | ||||
| Total stockholders’ equity | 659,506 | 860,755 | ||||||
| Total liabilities and stockholders’ equity | $ | 888,838 | $ | 902,540 | ||||
| NANO DIMENSIONS LTD. |
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
| For the Three and Six Months ended June 30, 2025 |
| (In thousands, except share data and per share data) (Unaudited) |
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
|
2025 (1) |
2024 |
2025 (1) |
2024 | ||||||||||||
| Revenue | $ | 25,837 | $ | 14,986 | $ | 40,238 | $ | 28,350 | |||||||
| Cost of revenue | 18,794 | 8,292 | 27,354 | 15,386 | |||||||||||
| Gross profit | 7,043 | 6,694 | 12,884 | 12,964 | |||||||||||
| Operating expenses | |||||||||||||||
| Research and development | 8,114 | 9,580 | 14,058 | 20,146 | |||||||||||
| Sales and marketing | 9,907 | 7,309 | 15,551 | 14,045 | |||||||||||
| General and administrative | 22,190 | 11,200 | 27,856 | 20,541 | |||||||||||
| Restructuring expense | 2,101 | — | 3,281 | — | |||||||||||
| Desktop Metal litigation expense | 3,245 | — | 31,315 | — | |||||||||||
| Impairment losses | 1,456 | — | 2,685 | — | |||||||||||
| Total operating expenses | 47,013 | 28,089 | 94,746 | 54,732 | |||||||||||
| Loss from operations | (39,970 | ) | (21,395 | ) | (81,862 | ) | (41,768 | ) | |||||||
| Gain (loss) on investment in marketable equity securities | 16,288 | (31,315 | ) | 25,013 | (57,104 | ) | |||||||||
| Loss from deconsolidation of subsidiaries | (1,666 | ) | — | (1,666 | ) | — | |||||||||
| Other income (expense), net | (56 | ) | — | (56 | ) | — | |||||||||
| Finance expense | (234 | ) | (2,324 | ) | (263 | ) | (3,521 | ) | |||||||
| Finance income | 14,352 | 10,535 | 22,023 | 21,846 | |||||||||||
| Loss before income taxes | (11,286 | ) | (44,499 | ) | (36,811 | ) | (80,547 | ) | |||||||
| Income tax expense (benefit) | 76 | 141 | 99 | 125 | |||||||||||
| Net loss from continuing operations | (11,362 | ) | (44,640 | ) | (36,910 | ) | (80,672 | ) | |||||||
| Net loss from discontinued operations, net of income tax of nil | (169,761 | ) | — | (169,761 | ) | — | |||||||||
| Net loss | (181,123 | ) | (44,640 | ) | (206,671 | ) | (80,672 | ) | |||||||
| Loss attributable to non-controlling interests | (87 | ) | (290 | ) | (323 | ) | (480 | ) | |||||||
| Loss attributable to owners | $ | (181,036 | ) | $ | (44,350 | ) | $ | (206,348 | ) | $ | (80,192 | ) | |||
| Basic and diluted income (loss) per share | |||||||||||||||
| Net loss per share from continuing operations – basic and diluted | $ | (0.05 | ) | $ | (0.20 | ) | $ | (0.17 | ) | $ | (0.36 | ) | |||
| Net loss per share from discontinued operations – basic and diluted | $ | (0.78 | ) | $ | — | $ | (0.78 | ) | $ | — | |||||
(1) The results for the three and six months ended June 30, 2025 include the consolidation of Markforged revenue of $16.1 million, gross profit of $3.4 million, and GAAP net loss of $10.3 million.
|
NANO DIMENSIONS LTD. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Six Months ended June 30, 2025 (In thousands) (Unaudited) |
|||||||
|
For the Six Months Ended June 30, |
|||||||
| 2025 | 2024 | ||||||
| Cash flow from operating activities: | |||||||
| Net loss from continuing operations | $ | (36,910 | ) | $ | (80,672 | ) | |
|
Adjustments: |
|||||||
| Depreciation, amortization, and non-cash lease interest | 8,282 | 1,352 | |||||
| Impairment losses | 2,685 | — | |||||
| Financing income, net | (21,872 | ) | (18,358 | ) | |||
| Interest received | 18,580 | 22,715 | |||||
| (Gain) loss from revaluation of financial assets and liabilities accounted at fair value | (24,995 | ) | 57,137 | ||||
| Loss from deconsolidation of subsidiaries | 1,666 | — | |||||
| Share-based payments | 1,644 | 8,455 | |||||
| Other | (93 | ) | 97 | ||||
| (51,013 | ) | (9,274 | ) | ||||
| Changes in assets and liabilities: | |||||||
| Decrease (increase) in inventory | 3,203 | (1,899 | ) | ||||
| (Increase) decrease in other receivables | (772 | ) | 5,845 | ||||
| (Increase) decrease in trade receivables | (914 | ) | 3 | ||||
| Decrease in other payables | (7,219 | ) | (3,779 | ) | |||
| Increase in employee benefits | 77 | 132 | |||||
| Increase (decrease) in trade payables | 6,044 | (1,410 | ) | ||||
| Net cash used in operating activities | (50,594 | ) | (10,382 | ) | |||
| Cash flow from investing activities: | |||||||
| Change in bank deposits | 190,466 | 5,412 | |||||
| Change in restricted bank deposits | 484 | (25 | ) | ||||
| Acquisition of property, plant and equipment | (461 | ) | (1,169 | ) | |||
| Acquisition of intangible asset | — | (711 | ) | ||||
| Acquisition of subsidiaries, net of cash acquired | (267,806 | ) | — | ||||
| Deconsolidation of subsidiaries | (476 | ) | — | ||||
| Net cash (used in) from investing activities | (77,793 | ) | 3,507 | ||||
| Cash flow from financing activities: | |||||||
| Repayment long-term bank debt | (72 | ) | (107 | ) | |||
| Payments of share price protection recognized in business combination | — | (363 | ) | ||||
| Repurchase of treasury shares | — | (69,755 | ) | ||||
| Net cash used in financing activities | (72 | ) | (70,225 | ) | |||
| Cash flows provided by (used in) discontinued operations: | |||||||
| Net cash used in operating activities | (15,733 | ) | — | ||||
| Net cash used in investing activities | (437 | ) | — | ||||
| Net cash provided by financing activities | 10,009 | — | |||||
| Net cash used in discontinued operations | (6,161 | ) | — | ||||
| Decrease in cash and cash equivalents | (134,620 | ) | (77,100 | ) | |||
| Cash and cash equivalents at beginning of the period | 317,169 | 309,571 | |||||
| Effect of exchange rate fluctuations on cash | 1,996 | (694 | ) | ||||
| Cash and cash equivalents at end of the period | $ | 184,545 | $ | 231,777 | |||
| Non-cash transactions: | |||||||
| Property, plant and equipment acquired on credit | — | 176 | |||||
| Recognition of a right-of-use asset | 191 | 233 | |||||
| Income taxes paid during the period | 36 | — | |||||
| NANO DIMENSIONS LTD. | ||||||||||||||||
| RECONCILIATION OF US GAAP TO NON-GAAP MEASURES | ||||||||||||||||
| (In thousands) (Unaudited) | ||||||||||||||||
| |
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
| | 2025 | 2024 | | 2025 | 2024 | |||||||||||
| GAAP Net loss from continuing operations | | $ | (11,362 | ) | $ | (44,640 | ) | | $ | (36,910 | ) | $ | (80,672 | ) | ||
| Tax expense (benefit) | | 76 | 141 | | 99 | 125 | ||||||||||
| Depreciation and amortization | 1,936 | 329 | 2,510 | 1,352 | ||||||||||||
| Interest expense | 184 | — | 184 | — | ||||||||||||
| Interest income | (5,944 | ) | (10,535 | ) | (15,253 | ) | (21,846 | ) | ||||||||
| Non-GAAP EBITDA (loss) | (15,110 | ) | (54,705 | ) | (49,370 | ) | (101,041 | ) | ||||||||
| Finance expenses (income) from revaluation of assets and liabilities | (16,263 | ) | 31,326 | (24,992 | ) | 57,137 | ||||||||||
| Exchange rate differences | (8,363 | ) | 2,293 | (6,724 | ) | 3,449 | ||||||||||
| Share-based payments expenses | 2,430 | 3,729 | 1,644 | 8,455 | ||||||||||||
| Desktop Metal litigation related expenses | 3,245 | — | 31,315 | — | ||||||||||||
| Desktop Metal and Markforged transaction related expenses | 8,304 | 2,721 | 9,820 | 2,721 | ||||||||||||
| Restructuring costs | 2,101 | — | 3,281 | — | ||||||||||||
| Loss from deconsolidation of subsidiaries | 1,666 | — | 1,666 | — | ||||||||||||
| Impairment losses | 1,456 | — | 2,685 | — | ||||||||||||
| Acquisition inventory step-up amortization | 3,849 | — | 3,849 | — | ||||||||||||
| Other non-GAAP | — | — | — | (115 | ) | |||||||||||
| Non-GAAP Adjusted EBITDA | | $ | (16,684 | ) | $ | (14,636 | ) | | $ | (26,826 | ) | $ | (29,394 | ) | ||
| |
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
| Non-GAAP Cost of Revenue | | 2025 | 2024 | | 2025 | 2024 | ||||||||||
| GAAP Cost of revenue | | $ | 18,794 | $ | 8,292 | | $ | 27,354 | $ | 15,386 | ||||||
| Stock compensation expense | | 80 | 231 | | 326 | 468 | ||||||||||
| Depreciation and amortization | 578 | (22 | ) | | 719 | 52 | ||||||||||
| Acquisition inventory step-up amortization | 3,849 | — | 3,849 | — | ||||||||||||
| Non-GAAP Cost of revenue | $ | 14,287 | $ | 8,083 | $ | 22,460 | $ | 14,866 | ||||||||
| |
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
| Non-GAAP Gross Profit | | 2025 | 2024 | | 2025 | 2024 | ||||||||||
| GAAP Gross profit | | $ | 7,043 | $ | 6,694 | | $ | 12,884 | $ | 12,964 | ||||||
| Stock compensation expense | | 80 | 231 | | 326 | 468 | ||||||||||
| Depreciation and amortization | 578 | (22 | ) | | 719 | 52 | ||||||||||
| Acquisition inventory step-up amortization | 3,849 | — | 3,849 | — | ||||||||||||
| Non-GAAP Gross profit | $ | 11,550 | $ | 6,903 | $ | 17,778 | $ | 13,484 | ||||||||
| |
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
| Non-GAAP Research and Development Expenses | | 2025 | 2024 | | 2025 | 2024 | ||||||||||
| GAAP Research and development expenses | | $ | 8,114 | $ | 9,580 | | $ | 14,058 | $ | 20,146 | ||||||
| Stock compensation expense | | 644 | 1,435 | | 713 | 3,369 | ||||||||||
| Depreciation and amortization | 364 | 255 | | 573 | 611 | |||||||||||
| Non-GAAP Research and development expenses | $ | 7,106 | $ | 7,890 | $ | 12,772 | $ | 16,166 | ||||||||
| |
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
| Non-GAAP Sales and Marketing Expenses | | 2025 | 2024 | | 2025 | 2024 | ||||||||||
| GAAP Sales and marketing expenses | | $ | 9,907 | $ | 7,309 | | $ | 15,551 | $ | 14,045 | ||||||
| Stock compensation expense | | 225 | 432 | | 548 | 929 | ||||||||||
| Depreciation and amortization | 593 | (2 | ) | | 636 | 324 | ||||||||||
| Non-GAAP Sales and marketing expenses | $ | 9,089 | $ | 6,879 | $ | 14,367 | $ | 12,792 | ||||||||
| |
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
| Non-GAAP General and Administrative Expenses | | 2025 | 2024 | | 2025 | 2024 | ||||||||||
| GAAP General and administrative expenses | | $ | 22,190 | $ | 11,200 | | $ | 27,856 | $ | 20,541 | ||||||
| Stock compensation expense | | 1,480 | 1,631 | | 56 | 3,689 | ||||||||||
| Depreciation and amortization | 401 | 98 | | 582 | 365 | |||||||||||
| Desktop Metal and Markforged transaction related expenses | 8,304 | 2,721 | 9,820 | 2,721 | ||||||||||||
| Other non-GAAP | — | — | — | (115 | ) | |||||||||||
| Non-GAAP General and administrative expenses | $ | 12,004 | $ | 6,750 | $ | 17,398 | $ | 13,881 | ||||||||
| |
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
| Non-GAAP Operating Loss | | 2025 | 2024 | | 2025 | 2024 | ||||||||||
| GAAP Operating loss | | $ | (39,970 | ) | $ | (21,395 | ) | | $ | (81,862 | ) | $ | (41,768 | ) | ||
| Stock compensation expense | | 2,429 | 3,729 | | 1,643 | 8,455 | ||||||||||
| Depreciation and amortization | 1,936 | 329 | | 2,510 | 1,352 | |||||||||||
| Desktop Metal litigation related expenses | 3,245 | — | 31,315 | — | ||||||||||||
| Desktop Metal and Markforged transaction related expenses | 8,304 | 2,721 | 9,820 | 2,721 | ||||||||||||
| Restructuring costs | 2,101 | — | 3,281 | — | ||||||||||||
| Impairment losses | 1,456 | — | 2,685 | — | ||||||||||||
| Acquisition inventory step-up amortization | 3,849 | — | 3,849 | — | ||||||||||||
| Other non-GAAP | — | — | — | (115 | ) | |||||||||||
| Non-GAAP Operating loss | $ | (16,649 | ) | $ | (14,616 | ) | $ | (26,759 | ) | $ | (29,355 | ) | ||||
| DISAGGREGATED REVENUE BY NATURE OF PRODUCTS AND SERVICES | ||||||||||||||||
| (In thousands) (Unaudited) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Hardware | $ | 16,707 | $ | 11,085 | $ | 28,180 | $ | 21,052 | ||||||||
| Consumables | 5,936 | 2,460 | 7,746 | 4,645 | ||||||||||||
| Services | 3,194 | 1,441 | 4,312 | 2,653 | ||||||||||||
| Total Revenue | $ | 25,837 | $ | 14,986 | $ | 40,238 | $ | 28,350 | ||||||||
| DISAGGREGATED REVENUE BY GEOGRAPHIC LOCATION | ||||||||||||||||
| (In thousands) (Unaudited) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Americas | $ | 10,988 | $ | 5,221 | $ | 15,747 | $ | 8,783 | ||||||||
| EMEA | 11,646 | 8,316 | 19,802 | 17,288 | ||||||||||||
| APAC | 3,203 | 1,449 | 4,689 | 2,279 | ||||||||||||
| Total Revenue | $ | 25,837 | $ | 14,986 | $ | 40,238 | $ | 28,350 | ||||||||
