Q3 2024 Nano Dimension Ltd Earnings Call Transcript
Key Points
- Nano Dimension Ltd (NNDM) reported $15 million in revenue for Q3 2024, marking the best third quarter ever and a 22% increase over the same period last year.
- The company achieved a gross margin of 48%, up from 44% in the previous year, with an adjusted gross margin of 51%.
- Net cash burn was significantly reduced from $16 million per quarter last year to $3 million, indicating progress towards breakeven.
- Nano Dimension Ltd (NNDM) successfully closed acquisitions of Desktop Metal and Markforged, expanding its product line and customer base.
- The company has a strong cash position with $470 million on the balance sheet, providing resources for future growth and profitability initiatives.
- There is ongoing conflict with activist shareholders, particularly Murchinson, who are attempting to influence company decisions and potentially dismantle the company.
- Concerns were raised about the integration and performance of past acquisitions, with some stakeholders questioning the synergies and revenue growth achieved.
- The company is facing regulatory hurdles with the CFIUS process for its acquisitions, which could delay completion.
- Despite the positive financial metrics, the stock continues to trade below cash value, indicating market skepticism about the company's strategy.
- There is uncertainty regarding the impact of potential new board members proposed by activist shareholders, which could affect strategic decisions.
Good day, ladies and gentlemen. Welcome to Nano Dimension's third quarter 2024 conference call. My name is Wyet, and I'm your operator for today's event. On the call with us today are Yoav Stern, CEO and member of the Board of Directors; Tomer Pinchas, CFO and COO; and Julien Lederman, VP, Corporate Development.
Before we begin, may I remind our listeners that certain information provided on this call may contain forward-looking statements, and the Safe Harbor statement outlined in today's earnings press release also pertains to statements made on this call. If you have not received a copy of the press release, please view it in the Investor Relations section of the company's website. A replay of today's call will also be available on the Investor Relations section of the company's website. Yoav will begin the call with the business update, followed by a question-and-answer session at which time the management team will answer questions.
I would now like to turn the call over to Nano Dimension CEO and member of the Board of Directors, Yoav Stern. You may please go ahead.
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