WALTHAM, MA — Nano Dimension announced third quarter revenues of $10 million, an increase of 646% over the same quarter in 2021 and 10% less than the second quarter of 2022.

Revenues for the nine months period ended September 30 were $31.5M, marking a 964% increase over the same nine months of last year.

“The comparable increases of revenue of Q3 2022 over Q3 2021 (646%) and year-to-date over last-year-year-to-date (964%) - highlight the business’ continued success in growing dramatically, better than our expectations as expressed last year. We also finished the third quarter with a record backlog of approximately $9M," said Yoav Stern, Nano Dimension chairman and CEO. "All our product lines’ revenue grew organically except for additive electronics machines in Europe: As a result of the Russia-Ukraine war, our revenues in Russia and Poland were reduced in the first 9 months of 2022 by approximately $1.5M (75%) compared to the same period in 2021. Additionally, we understand from other customers there that the continued components’ supply chain shortages have caused them to request a delay in delivery of additive electronic machines (which are used to mount those delayed components).

Sales and deliveries in the USA of similar machines grew organically by 45% over the 9 months ended September 30th, 2022, compared to the similar period in 2021," he said. "The Gross Margin is a bit lower than we have anticipated, which is a result of the above mentioned held-back deliveries in Europe without reducing the fixed manufacturing overhead. The inherent gross margin of that technology is above 30%, as it has been for years, and it is within the typical range for that industry segment. We sold 69 machines of this kind since 1-1-2022. The Q3/2022 lower gross margin is also a result of trading up old AME machines with new ones, which are transactions at lower gross margins than the regular new AME machine sales."

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