Edison Investment Research - NANO DIMENSION LTD. (NNDM) Nano Dimension - Growth in a tough market

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Edison Investment Research

Richard Williamson

Nano Dimension - Growth in a tough market

Nano Dimension made good progress growing revenue and gross margins in FY23. The company is now focused on reducing cash burn and moving to profitability, via its Reshaping Nano initiative, and is simultaneously looking to acquire in the additive manufacturing space to consolidate its position. Nano Dimension continues to buy back shares while they trade at a discount to book value.

25/03/2024 1 EN

Underlying

NANO DIMENSION LTD.

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US63008G2030 Israel

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Richard Williamson

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Nano Dimension - Creating a leader in additive manufacturing

Nano Dimension reported record revenue of $15.0m in Q224, slightly higher year-on-year and 12% higher quarter-on-quarter. The Reshaping Nano initiative continued to reduce cash burn, which was down 64% y-o-y in Q224 and 69% in H124, before share buybacks. Management is focused on completing the Desktop Metal (DM) acquisition by the end of the year. The combined entity will have a broad product offering, supporting the entire value chain from prototyping through to volume manufacturing, along with considerable cash to support organic and inorganic growth. With significant revenue and cost syner...

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Nano Dimension - Agreement to acquire Desktop Metal

Nano Dimension has entered into a definitive agreement to acquire Desktop Metal (DM) in an all-cash deal worth $185m ($5.50 per DM share), with potential adjustments that could reduce it to $135m ($4.07 per share). The deal is subject to regulatory approvals and DM shareholder approval and is expected to close in Q424. With complementary product lines, the combined entity will offer a broad range of additive manufacturing solutions covering multiple verticals and materials, supporting the entire value chain from prototyping through to mass manufacturing.

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Nano Dimension - Material reduction in cash burn

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Nano Dimension - Growth in a tough market

Nano Dimension - Creating a leader in additive manufacturing

Nano Dimension - Agreement to acquire Desktop Metal

Nano Dimension - Material reduction in cash burn

IP Group - Management sees positive portfolio momentum

Creo Medical - Consumables business divested in strategic move

Utilico Emerging Markets Trust - Market not reflecting very strong fundamentals

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