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
ir@nano-di.com
Media: Samuel Manning
Principal Manager, External Communications
press@nano-di.com
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, December 31,
2025 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 Six Months Ended
June 30, 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 Six Months Ended
June 30, 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 Six Months Ended
June 30, 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 Six Months Ended
June 30, 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 Six Months Ended
June 30, 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 Six Months Ended
June 30, 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 Six Months Ended
June 30, 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 Six Months Ended
June 30, 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 Six Months Ended
June 30, 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 Six Months Ended June
June 30, 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
==== ====== ======= ======= =======
(END) Dow Jones Newswires
September 17, 2025 16:05 ET (20:05 GMT)