NESS ZIONA, ISRAEL – Nano Dimension reported preliminary third quarter revenues of approximately $2.2 million, up 32% year-over-year and 90% sequentially.

“Nano Dimension achieved record quarterly revenues in the third quarter of 2019, reflecting an acceleration in sales since the launch of the DragonFly LDM Lights-Out Digital Manufacturing System,” said Amit Dror, CEO of Nano Dimension. “During the second quarter of the year, we recognized potential growth setbacks and took actions to work as quickly as possible to address these issues. The third quarter preliminary results show our rapid response and strategy have put us back on track to being competitive.

“Our new DragonFly LDM system offers advanced capabilities and innovative application possibilities, meeting customers’ expectations and the needs of potential customers. We have added new customers to our install base, and many of our existing customers have expressed a vote of confidence and purchased an LDM upgrade to their existing DragonFly Pro system.”

In the third quarter, the company sold eight DragonFly systems, four of which were sold to customers operating in the US defense industry. This brings the system sales in 2019 to 21. The total install base is 51 systems worldwide.

The company ended the third quarter with approximately $5.5 million in cash on its balance sheet.