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May 2, 2025 | Nano DimensionEstimated reading time: 4 minutes
Nano Dimension Ltd., a leader in Digital Manufacturing solutions, announced its 2024 financial results and shared its 2025 strategic outlook.
Financial results:
Revenue
Q4 2024: $14.6 million, up 1% year-over-year
FY 2024: $57.8 million, up 3% year-over-year
Gross Margin (“GM”)
Q4 2024: 33%, down 1,531 bps year-over-year
FY 2024: 43%, down 194 bps year-over-year
Adjusted gross Margin (“Adjusted GM”)
Q4 2024: 36%, down 1,477 bps year-over-year
FY 2024: 46%, down 269 bps year-over-year
Net loss
Q4 2024: $9.1 million, up 576% year-over-year
FY 2024: $96.9 million, up 74% year-over-year
Special note: Change in net loss for FY 2024 is mainly attributed to the revaluation of our investment in Stratasys’ shares.
Adjusted EBITDA (loss)
Q4 2024: ($20.7) million, improvement of 9% year-over-year
FY 2024: ($65.2) million, improvement of 35% year-over-year
Cash, cash equivalents, together with bank deposits and investable securities
$845 million as of December 31, 2024, down from $991 million year-over-year
Details regarding Adjusted EBITDA and adjusted gross margin can be found below in this press release under “Non-IFRS Measures.”
Q1-2025 Preliminaries
Revenue: $14.4 million through March 31, 2025
Cash, cash equivalents, together with bank deposits and investable securities: $840 million as of March 31, 2025
The above information reflects preliminary estimates with respect to certain results of Nano Dimension, based on currently available information. The actual first quarter 2025 results may vary from the preliminary estimates.
Financial results in detail
Fourth Quarter 2024 Financial Results
Total revenues for the fourth quarter of 2024 were $14,569,000, compared to $14,454,000 in the fourth quarter of 2023.
Total cost of revenues excluding write-down of inventories and amortization of technology for the fourth quarter of 2024 was $8,133,000, compared to $7,358,000 in the fourth quarter of 2023.
As a result of the reorganizational plan executed by the Company in the fourth quarter of 2023 and other cost reduction efforts taken in 2024, the Company’s operating expenses across all departments have decreased in the fourth quarter of 2024 compared to the fourth quarter of 2023.
Research and development (R&D) expenses for the fourth quarter of 2024 were $9,102,000, compared to $13,580,000 in the fourth quarter of 2023. The decrease is mainly attributed to a decrease in payroll and related expenses, subcontractors expenses and materials for R&D use.
Sales and marketing (S&M) expenses for the fourth quarter of 2024 were $6,261,000, compared to $8,289,000 in the fourth quarter of 2023. The decrease is mainly attributed to a decrease in payroll and related expenses, travel expenses and marketing expenses.
General and administrative (G&A) expenses for the fourth quarter of 2024 were $11,916,000, compared to $14,051,000 in the fourth quarter of 2023. The decrease is mainly attributed to a decrease in professional services and share-based payments expenses.
Other expenses, net for the fourth quarter of 2024 were $2,633,000, compared to other income, net of $1,627,000 for the fourth quarter of 2023. In the fourth quarter of 2024 the amount is mainly attributed to Desktop Metal and Markforged transaction costs. Other income, net in the fourth quarter of 2023 represents compensation from government authorities for damaged inventory, partially offset by reorganization costs incurred during the year.
Net loss attributed to owners for the fourth quarter of 2024 was $8,805,000, or $0.04 loss per share, compared to net loss of $1,049,000, or $0.01 loss per share, in the fourth quarter of 2023.
Year Ended December 31, 2024 Financial Results
Total revenues for the year ended December 31, 2024, were $57,775,000, compared to $56,314,000 in the year ended December 31, 2023.
Total Cost of revenues excluding write-down of inventories and amortization of technology for the year ended December 31, 2024, was $31,125,000, compared to $30,759,000 in the year ended December 31, 2023. As a result of the reorganization plan executed by the Company in the fourth quarter of 2023 and other cost reduction efforts taken in 2024, the Company’s operating expenses across all departments have decreased in 2024 compared to 2023, as detailed below.
R&D expenses for the year ended December 31, 2024, were $37,157,000, compared to $62,004,000 for the year ended December 31, 2023. The decrease is mainly attributed to a decrease in payroll and related expenses, materials for R&D use and subcontractors expenses, as well as a decrease in share-based payments expenses.
S&M expenses for the year ended December 31, 2024, were $26,951,000, compared to $31,707,000 for the year ended December 31, 2023. The decrease is mainly attributed to a decrease in payroll and related expenses and share-based payments expenses.
G&A expenses for the year ended December 31, 2024, were $40,059,000, compared to $58,254,000 for the year ended December 31, 2023. The decrease is mainly attributed to a decrease in professional services, mainly from proxy contest and legal related expenses.
Other expenses, net for the year ended December 31, 2024, were $5,966,000 compared to other income, net $1,627,000 for the year ended December 31, 2023. In 2024 the amount is mainly attributed to Desktop Metal and Markforged transaction costs. In 2023 the amount represents compensation from government authorities for damaged inventory, less reorganization costs incurred during the year.
Net loss attributed to the owners for the year ended December 31, 2024, was $95,894,000, or $0.44 per share, compared to loss of $54,550,000, or $0.22 per share, for the year ended December 31, 2023. The increase is mainly attributed to the revaluation of our investment in Stratasys’ shares.
Balance Sheet Highlights
Cash and cash equivalents, together with bank deposits totaled $759,264,000 as of December 31, 2024, compared to $852,479,000 as of December 31, 2023.
Total shareholders’ equity totaled $858,707,000 as of December 31, 2024, compared to $1,015,786,000 as of December 31, 2023.
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