WALTHAM, MA – Nano Dimension reported record revenues of $14.97 million for the first quarter, a year-on-year increase of 43% and a sequential increase of 24%.

"“We delivered significant revenue growth in the first quarter of 2023, with the third record-setting quarter in a row, defined by exceptional performance and steady quarterly organic growth since July 2022. While we still have six months left to go in 2023, at this point we hope to be ahead of the annual budget which our Board of Directors has set for us," said CEO Yoav Stern. "One of the most exciting developments this quarter is the fast adoption of our Deep Learning/AI technology, developed by our DeepCube division. It is now effectively installed in our newer models of machines, advancing industrial inspection, print quality optimization, process optimization, and monitoring and maintenance of machines.

"While DeepCube is a significant value-add to new and existing customers, we are starting to receive requests from industrial customers to sell them the 'DeepCube AI Engine' by itself, to be installed on their own machines, thereby turning our DeepCube group into a “stand-alone” revenue generating division," he said.

"Our Additive Electronic business has been growing organically for almost a year, in spite of the continued crisis in the European economy, especially in the DACH countries. Our AME printing business is advancing on budget, supported by impressive achievements in chemical development of dielectric and conductive printing consumable materials," he said. "In parallel, IPC International, Inc. (IPC), a global association that helps original equipment manufacturers, Electronics Manufacturing services, printed circuit board manufacturers, and suppliers build electronics better, has accepted our efforts of over a year – and is now adopting new standards for AME specifications. In the Additive Manufacturing and Ink Services product lines we are experiencing steady advancements as well.

"Our organic growth is expected to be fully supported by our merger and acquisition (M&A) strategy. Consistent with our stated long-term strategy, strong market position, and robust balance sheet, we remain ideally positioned to act as a consolidator in the highly fragmented AM market landscape, which consists of small- and medium-sized businesses that are currently cash negative and “floating” on high valuations. We intend to accelerate our M&A strategy by carefully investing in assets that will create return on investment and value expansion for our shareholders, contrary to unprofitability which is still a common denominator for many players in the AM industry."

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