NESS ZIONA, ISRAEL – Nano Dimension reported first quarter revenues of $1.7 million, up 166% year-over-year, down 0.9% sequentially.

Net loss was $1.5 million, compared to net loss of $4.1 million in the first quarter of 2018 and $4 million in the prior quarter.

R&D expenses for the period were $2.2 million. A slight decrease compared to the first quarter of 2018 is mainly attributed to a decrease in payroll and related expenses and a decrease in rent expenses, mainly due to shifting resources from R&D to manufacturing and operations.

“Our global expansion continues in accordance with our growth plan,” said CEO Amit Dror. “We enhanced our presence in North America, and we entered the Japanese market with a sale to a leading Japanese PCB manufacturer. We improved the value offering to our customers by introducing disruptive new technologies and value-added applications such as side-contacts for PCB, 3D printed capacitors and a fully functional IoT device.”

Cash and cash equivalents totaled $10.2 million as of Mar. 31, compared to $3.8 million on Dec. 31.

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