{"id":379465,"date":"2020-11-12T07:33:34","date_gmt":"2020-11-12T12:33:34","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=379465"},"modified":"2020-11-12T07:33:34","modified_gmt":"2020-11-12T12:33:34","slug":"nano-dimension-reports-2020-third-quarter-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nano-dimension-reports-2020-third-quarter-financial-results\/","title":{"rendered":"Nano Dimension Reports 2020 Third Quarter Financial Results"},"content":{"rendered":"
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\u00a0Conference call to be held today at 9:00 a.m. EST<\/p>\n

\n Sunrise, Florida, Nov. 12, 2020 (GLOBE NEWSWIRE) — <\/strong>\u2013 Nano Dimension Ltd. (Nasdaq: NNDM), a leading Additively Manufactured Electronics (AME)\/PE (Printed Electronics) provider<\/strong>, today announced financial results for the third quarter ended September 30, 2020.\u00a0<\/p>\n

Nano Dimension reported revenues of $438,000 for the third quarter of 2020. The Company ended the quarter with a cash and deposits balance of $45,720,000 (including short and long-term unrestricted bank deposits), while net loss for the third quarter was $20,716,000 and negative adjusted EBITDA for the third quarter was $3,373,000.<\/p>\n

\u201cThese are not disappointing results per se,\u201d said Yael Sandler, Chief Financial Officer of Nano Dimension. \u201cAs we have projected starting April 2020, the reduced revenues in 2020 as a result of the COVID-19 pandemic being prolonged and re-emerging crises, were in fact expected to be lower than we have achieved. Actually, in APAC, the revenues have seemed to already start a modest recovery in the fourth quarter of 2020. We believe that the United States is still in a process of downswing of capital expenditures under the influence of the COVID-19 pandemic, and European prospective customers are sinking back toward a commercial stand still, under the effects of its second wave. As the market stagnation is prolonged, understandably hesitant and\/or careful customers tend to delay investments in breakthrough, new prototyping and fabrication technologies of unique Hi-PEDs\u2122 (Hi<\/strong>gh P<\/strong>erformance E<\/strong>lectronic D<\/strong>evices<\/strong>). While the phenomena are clear and present, they are probably temporary,\u201d concluded Ms. Sandler.<\/p>\n

Mr. Yoav Stern, Chief Executive Officer and President of Nano Dimension commented: \u201cThe expectation of our market growth has not changed, and we believe that this is a interim delay. We expect the mid-term slow-down effect to act like a \u201csling shot\u201d once COVID-19 will start to phase-out.1<\/sup> The pressure of the trade struggles with the East is already creating an interest for reshoring electronic manufacturing. Nano Dimension technology is ideally positioned as our 3D printing machines for Hi-PEDs\u2122<\/strong> are an environmentally friendly non-polluting fabrication and overnight prototyping methodology, fitting for setting up fabrication facilities in-house on the western continents.\u201d<\/p>\n

Mr. Stern concluded: \u201cAs per above, we are not judging, at this point, our success by quarterly revenues. That will come later. Nano Dimension operates along an expected fail-safe investment model, where upside may resemble Biotech investments, but, contrary to those, downside in case of failure at any stage is somewhat hedged and hence protected. We have sold 60 machines already, mostly to leading blue chip defense, academic and commercial organizations worldwide. It is reasonable to assume that in case a decision is made at the right time, a sale of our existing business at improving multiples, as per future stages, is a doable task. On the upside, an exponential growth post COVID-19 may lead us to an unprecedented leadership role. Our future \u201cStages\u201d as defined at this point (subject to adjustment based on advancement in R&D) are: Stage I: Materials at Commercial-Specs, Stage II: Materials at Industrial-Specs, Stage III: Materials at Mil-Specs, Stage IV: Low Production Volume 3D-System, Stage V: Medium Production Volume 3D-System.\u201d\u00a0<\/em><\/strong><\/p>\n<\/p>\n

\n 1<\/sup>
\n IDTechEX (2019):<\/strong> The total market for 3D printed electronics will be worth $2.3 billion by 2029 and will be dominated by the professional PCB prototyping market segment. The educational and industrial production market segments will continue to grow steadily.
The market for professional PCB prototyping<\/strong> is currently growing very rapidly, almost entirely due to market leader Nano Dimension, and has already overtaken the consumer and education. This growth will slow but this market segment will become the largest by 2020.
DataM Intelligence (2018)<\/strong>: Analysts predict 3D printed electronics will be the next high-growth application for product innovation: 2017 3D printed electronics market size is estimated at $176 million, expected to reach $592 million in 2021 and up to $2.4 billion by 2025.
Transparency Market Research (2018)<\/strong>: The global 3D printed electronics market was valued at US$ 137.1 million in 2017 and is expected to expand at a CAGR of 44.46% from 2018 to 2026, reaching $ 3.9 billion by the end of the forecast period.\u00a0
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Third Quarter 2020 Financial Results<\/u><\/em><\/strong><\/p>\n