NESS ZIONA, ISRAEL – Nano Dimension reported third quarter revenues of $1.7 million, up 1077.5% year-over-year and 53.7% sequentially.

The increase is attributed to higher commercial sales of the DragonFly Pro systems that began in the fourth quarter of 2017.

For the quarter ended Sept. 30, the company posted a net loss of $3.6 million, compared to $4.1 million in the same quarter last year and $3.8 million in the prior quarter.

The firm ended the third quarter with $7.5 million in cash.

“Our continued sequential growth during the third quarter reinforces our confidence in the open-ended market potential of our additive manufacturing solutions,” said Amit Dror, CEO of Nano Dimension. “Over the third quarter we sold ten DragonFly Pro systems, and we are particularly pleased by the positive traction we are enjoying within the US defense industry, bolstered by our status as a certified Department of Defense Logistics Agency vendor. We believe our advantage as a first mover in additive electronics, combined with our growing reseller channel network, positions us well for increasing sequential revenue in both the immediate and long-term future.”

R&D expenses for the third quarter were $2.2 million, compared to $2.9 million in the prior year quarter and $2 million in the second quarter of 2018.

Total revenues for the nine months ended Sept. 30 were $3.4 million, up 744.5% year-over-year.

Net loss for the nine-month period was $11.5 million, compared to $13.3 million in the nine months ended Sept. 30, 2017.

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