NESS ZIONA, ISRAEL – Nano Dimension continued to generate sales in the third quarter, reporting revenues of $143,000, down 4.7% sequentially. The maker of 3D printers had no sales in the third quarter of 2016.
For the period ended Sept. 30, the firm posted a net loss of $4.2 million, compared to $1.7 million in the same period last year and $5 million in the second quarter of 2017. The sequential decrease resulted primarily from a decrease in sales, marketing and general and administrative expenses. The increase compared to the third quarter of 2016 is mainly attributed to the increase in R&D expenses.
Nano Dimension ended the third quarter with almost $12 million in cash.
“We have made tremendous progress during the third quarter of 2017 and have reached the milestones we set forth for this quarter,” said Amit Dror, Nano Dimension’s CEO. “Through our efforts to execute our strategic growth plan, we expanded our collaborations with distribution partners in Europe, Australia and North America. This has allowed us to develop the commercial and service infrastructure of the DragonFly 2020 Pro 3D printer on a global scale. In addition, we are excited to have signed an agreement with our first commercial customer, Jabil. As we progress through the fourth quarter, we expect to increase our commercial sales in collaboration with our partners.”
Research and development expenses for the third quarter were $3 million, compared to $674,000 in the same quarter of 2016.
For the nine months ended Sept. 30, total revenues were $414,000, compared to zero in the same period of 2016. Net loss was $13.7 million, compared to $5.2 million in the same period last year.