Q2 2024 Nano Dimension Ltd Earnings Call Transcript
Key Points
- Nano Dimension Ltd (NNDM) reported its best quarter ever, with revenues up 2% compared to the same quarter last year.
- Gross margins increased to 45%, indicating improved profitability.
- Cash burn was significantly reduced by 54%, from $31 million to $11 million, due to a successful turnaround and expense reduction plan.
- The company announced the acquisition of Desktop Metal, which is expected to enhance its product portfolio and market position.
- NNDM is focusing on integrating its product lines into the wider Industry 4.0, aiming for digital transformation and higher efficiency.
- Adjusted gross margins were slightly down on a quarterly basis, although the decline was negligible.
- The additive manufacturing industry is fragmented, with many companies not making money, indicating a challenging market environment.
- The acquisition of Desktop Metal, while strategic, involves complexities and risks associated with integration.
- The company's share price is considered undervalued, which could impact future financing and shareholder value.
- Regulatory approvals for the Desktop Metal acquisition are still pending, which could delay the expected benefits from the merger.
Good day, ladies and gentlemen. Welcome to Nano Dimension's second-quarter 2024 conference call. My name is Geleen, 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 Julian Lederman, VP, Corporate Development.
Before we begin, may I remind you 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 a business update, followed by a question-and-answer session, at which time the management team will answer your questions.
(Operator Instructions)
I would now like to turn the call over to Nano Dimension, CEO and member of the Board of
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