SUNRISE, FL – Nano Dimension reported fourth quarter revenues of nearly $2 million, down 0.3% year-over-year and up 350% sequentially. Changes are attributed to sales of DragonFly LDM systems.

Net loss was $17.4 million, compared to $1.4 million in the fourth quarter of 2019 and $20.7 million in the third quarter of 2020.

Research and development expenses for the fourth quarter were $3.7 million, compared to $1.5 million in the prior year quarter and $2.6 million in the third quarter of 2020.

“We ended 2020 with a strong balance sheet and $671 million in cash and bank deposits, thanks to the equity offerings we concluded during the year, and we have strengthened it even more to a balance of nearly $1.5 billion as of the end of February 2021,” said CFO Yael Sandler. “We recognized revenues of $3.4 million, which is lower than last year due to the effect of the Covid-19 pandemic, but better than what we originally expected. We are focusing our efforts on fulfilling our growth plan, both internal through product development and R&D efforts, as well as through external M&A activities.”

Total revenues for 2020 were $3.4 million, a decrease of 51.9% compared to 2019. Revenues for the year ended Dec. 31 were affected by the repercussions of the Covid-19 pandemic. As a result, many entities held off on capital expenses.

Net loss for 2020 was $48.5 million, compared to $8.3 million in 2019.

R&D expenses for 2020 were $9.9 million, compared to $8.1 million in 2019.

During 2020, Nano Dimension raised gross proceeds of $710 million in public equity offerings.

Cash and bank deposits totaled $670.9 million as of Dec. 31, compared to $3.9 million at the end of 2019.

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