Nano Dimension is showing undeniable success, continuing to hold their status as the leader in 3D printed electronics, following both the first quarter and second quarter of 2016 showing momentum. They’ve ended the third quarter of 2016 with $14,243,000 (NIS 53,524,000) in cash and cash equivalents, while total quarterly expenses were at $1,727,000 (NIS 6,491,000). Specific details for this quarter are as follows:
- Research and development landed at $674,000 for the third quarter. This was in comparison to $503,000 for the last quarter, and $357,000 for the same period last year. The electronics company attributes the increase to salaries and other expenses related to growth in numbers of personnel. The expenses here presented net of government grants in the amount of $40,000 and net of development expenses recognized as intangible assets in the amount of $1,425,000.
- General and administrative expenses ran at $1,049,000, compared to last quarter’s $1,197,000 and $987,000 for the same time period last year. Nano Dimension states that the decrease from last quarter was a result of less professional services and basic expenses.
- Net loss for this quarter was $1,727,000 or $0.05 per share. This is in comparison to last quarter’s $1,664,000 or $0.04 per share. For the third quarter of 2015, we saw figures of $913,000 or $0.03 per share.
For the balance sheet:
- Cash and cash equivalents were at $14,243,000 on September 30th. This is in comparison to $8,665,000 on December 31st. The company sees this increase as a direct reflection of the incoming funds as the company went public. They also received funding from government grants.
- Shareholders’ equity totaled $21,307,000 on September 30, 2016, compared to $12,047,000 as of December 31, 2015.
Recent highlights for the company have been the development of their software package, which will be integrated in the company’s DragonFly 2020 3D printer, a new production facility for their unique nano-ink products, successful testing for 3D printing of conductive traces onto a treated fabric in collaboration with a leading European functional textiles company, and more.
“The third quarter has been marked by major milestones for Nano Dimension. First and foremost, the company began rolling out its sales operation. To this end, Nano Dimension supplied its first two DragonFly 2020 3D Printer systems to beta partners for evaluation and demonstration purposes,” said Amit Dror, CEO. “Nano Dimension also closed its first public offering of American Depository Shares (ADSs) in the United States, with total gross proceeds from the offering of approximately $13.8 million.”
“In addition, during the quarter, the company continued to innovate and invest in R&D in new fields outside of its current core business. The significant activity over the course of the third quarter positions the company well moving forward, and we believe we have great momentum for Nano Dimension’s continued success.”
For those who missed the company conference call regarding the financial results for the third quarter, you can listen to a replay here. Discuss in the Nano Dimension forum at 3DPB.com.
