NESS ZIONA, ISRAEL – Nano Dimension reported second quarter revenue of $1.1 million, up 666.2% year-over-year and 71.3% sequentially.

The increase was attributed to higher commercial sales of the DragonFly 2020 Pro 3D printer that began in the fourth quarter of 2017.

For the quarter ended June 30, the company posted a loss of $3.8 million, compared to $4.7 million in the same quarter last year and $4.1 million in the first quarter of 2018.

Research and development (R&D) expenses for the quarter were $2 million, compared to nearly $3 million in the second quarter of 2017 and $2.5 million in the prior quarter.

Nano Dimension ended the quarter with $11.6 million in cash.

“Nano Dimension experienced continued success in the second quarter, as multiple sales to leading companies throughout the world demonstrated growing interest in the DragonFly 2020 Pro 3D printer,” said CEO Amit Dror. “Additionally, Nano Dimension became a US Department of Defense certified vendor, allowing us to pursue new sales and relationships with the US federal government agencies.

“As we continue to expand and strengthen our global reseller network, we are seeing results with key sales in major markets. In the Asia-Pacific region, and specifically in China, we made significant progress during the second quarter. We entered into a strategic agreement with Aurora 3D, a leading reseller in mainland China, and we opened our fourth Customer Experience Center in our new Hong Kong facility, located in the Hong Kong Science and Technology Park.”

For the six months ended June 30, total revenue was $1.7 million, compared to $260,000 in the first six months of 2017.

Net loss for the period was $7.9 million, compared to $9.2 million in the six months ended June 30, 2017.

R&D expenses for the six months ended June 30 were $4.6 million, compared to $5.4 million last year.

Cash and cash equivalents totaled $11.6 million as of June 30, compared to $6.1 million on Dec. 31.

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