Nano Dimension Ltd. (“Nano Dimension” or the “Company”), a leader in Digital Manufacturing solutions, announced its financial results for the first quarter ended March 31, 2025.
The following information does not reflect the results or impact of Desktop Metal, Inc. (“Desktop Metal”) or Markforged Holding Corporation (“Markforged”) unless stated otherwise, as transactions concerning these companies were completed after the conclusion of the first quarter.
First Quarter 2025 Highlights
- Revenue: $14.4 million, an 8% increase from $13.4 million year-over-year
- Gross Margin (“GM”): 41%, down from 46% year-over-year
- Adjusted Gross Margin (“Adjusted GM”): 44%, down from 50% year-over-year
- Adjusted EBITDA loss: $9.0 million, down from a loss of $13.6 million or 33% improved year-over-year
- Net Loss: $24.0 million, down from a loss of $35.0 million or 31% improved year-over-year
- Total Cash, cash equivalents, deposits and investable securities: $840 million as of March 31, 2025, down from $907 million year-over-year
Details regarding Adjusted EBITDA and Adjusted Gross Margin can be found below in this press release under “Non-IFRS Measures.”
Ofir Baharav, Chief Executive Officer, commented, “In spite of the challenging economic environment, we were able to grow revenue while meeting our cost cutting commitments. Our transformation is well underway as we focused the Core business on the most impactful, high-performance customer solutions, and applied a disciplined operating model to drive efficiency and long-term value creation. We took action designed to realize more than $20 million in annualized operating costs savings from Q4 2025 onwards, targeting an improvement of revenue per employee of approximately 50% over historical levels.
“Since our Markforged acquisition in April 2025, we’ve been applying the same rigorous approach to ensure their alignment with our financial and operational standards and we are well on our way to realize operational synergies, along with product and customer focus.
“This is a pivotal time for Nano Dimension. We remain focused on building a scalable, profitable platform, and will continue updating shareholders, including in regard to Desktop Metal’s ongoing strategic assessment.”
Business Transformation & Recent Developments
- Core Business Strategic Review: Delivered $20 million in annualized cost savings from Q4 2025 onwards through:
- Discontinuation of underperforming product lines including Admatec, DeepCube, Fabrica, and Formatec.
- Targeted headcount reductions and process optimization while preserving investment in high-growth areas.
- Desktop Metal Acquisition (Closed April 2, 2025):
- Desktop Metal has initiated an independent strategic assessment to address liabilities and liquidity issues.
- Markforged Acquisition (Closed April 25, 2025):
- Post-merger integration underway, following the same playbook applied to Core business.
- Operational Leveraging:
- Reviewing manufacturing footprint for optimization opportunities.
- Unifying software division to build a scalable platform and reduce backend costs.
- Product Innovation:
- Launched FOX Ultra and PUMA Ultra, next-gen SMT solutions from Essemtec.
- Corporate governance:
- Strengthening of board of directors with the addition of technology and growth experts Andy Sriubas and Eileen Tanghal (June 11, 2025)
Financial results in detail
First Quarter 2025 Financial Results
- Total revenues for the first quarter of 2025 were $14.4 million, compared to $13.4 million in the first quarter of 2024. The increase is attributed mostly to increased sales efforts for Nano Dimension’s diversified product portfolio.
- Total cost of revenues for the first quarter of 2025 was $8.5 million, compared to $7.2 million in the first quarter of 2024. The increase is mainly attributed to the above-mentioned increase in revenues.
- Research and development ("R&D") expenses for the first quarter of 2025 were $5.0 million, compared to $9.1 million in the first quarter of 2024. The decrease is mainly attributed to a decrease in payroll and related expenses, share-based payments, subcontractor and professional fees and other R&D expenses.
- Sales and marketing ("S&M") expenses for the first quarter of 2025 were $5.5 million, compared to $6.5 million in the first quarter of 2024. The decrease is mainly attributed to payroll and related expenses, as well as share-based payments and other S&M expenses.
- General and administrative ("G&A") expenses for the first quarter of 2025 were $3.5 million, compared to $9.6 million in the first quarter of 2024. The decrease is mainly attributed to a decrease in share-based payments, professional services and payroll and related expenses.
- Other expenses for the first quarter of 2025 were $30.8 million, compared to other income, net of $109 thousand for the first quarter of 2024. In the first quarter of 2025 the amount is mainly attributed to Desktop Metal litigation related expenses.
- Net loss attributable to owners for the first quarter of 2025 was $23.8 million or $0.11 loss per share, compared to net loss of $34.8 million, or $0.15 loss per share, in the first quarter of 2024.
Conference Call Today
Nano Dimension will host a conference call to discuss its financial results and strategic outlook today, June 12, 2025, at 4:30 p.m. EDT.
Participants can also dial-in/connect by following the below:
- Listen in via US dial-in: 1-844-695-5517
- Listen via international dial-in: 1-412-902-6751
- Listen and view presentation via webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=uKTBW5Ak
For those unable to participate in the conference call, there will be a replay available from a link on Nano Dimension’s website at http://investors.nano-di.com/events-and-presentations.
