• Total revenues for the third quarter of 2023 were $12,158,000, compared to $14,737,000 in the second quarter of 2023, and $9,998,000 in the third quarter of 2022.

• Cost of revenues (excluding amortization of intangibles and write-down of inventories) for the third quarter of 2023 was $6,739,000, compared to $8,180,000 in the second quarter of 2023, and $7,428,000 in the third quarter of 2022. The decrease compared to the second quarter of 2023 is attributed mostly to the decrease of sales of the Company’s product lines. The decrease compared to the third quarter of 2022 is attributed mostly to the change in product mix and markets.

• R&D expenses for the third quarter of 2023 were $12,788,000, compared to $16,386,000 in the second quarter of 2023, and $18,535,000 in the third quarter of 2022. The decrease compared to the second quarter of 2023 is mainly attributed to a decrease in share-based payments, payroll, materials, and other R&D expenses. The decrease compared to the third quarter of 2022 is mainly attributed to a decrease in share-based payments, subcontractors, and payroll expenses.

• Sales and marketing (“S&M”) expenses for the third quarter of 2023 were $7,715,000, compared to $8,217,000 in the second quarter of 2023, and $9,652,000 in the third quarter of 2022. The decrease compared to the second quarter of 2023 is mainly attributed to a decrease in marketing and payroll expenses. The decrease compared to the third quarter of 2022 is mainly attributed to a decrease in payroll expenses and share-based payments expenses.

• General and administrative (“G&A”) expenses for the third quarter of 2023 were $20,848,000, compared to $12,322,000 in the second quarter of 2023, and $7,417,000 in the third quarter of 2022. The increase compared to the second quarter of 2023 is mainly attributed to an increase in professional services and payroll expenses. The increase compared to the third quarter of 2022 is mainly attributed to an increase in professional services and payroll expenses.

• Net loss attributed to owners of the Company for the third quarter of 2023 was $66,604,000, or $0.26 loss per share, compared to a net loss of $9,119,000, or $0.04 loss per share, in the second quarter of 2023, and net loss of $66,931,000, or $0.26 loss per share, in the third quarter of 2022.
  

Nine months ended September 30, 2023 Financial Results

• Total revenues for the nine months period ended September 30, 2023, were $41,860,000, compared to $31,529,000 in the nine months period ended September 30, 2022. The increase is attributed to increased sales of the Company’s product lines.

• Cost of revenues (excluding amortization of intangibles and write-down of inventories) for the nine months period ended September 30, 2023, was $23,186,000, compared to $21,159,000 in the nine months period ended September 30, 2022. The increase is attributed mostly to increased sales of the Company’s product lines.

• R&D expenses for the nine months period ended September 30, 2023, were $48,424,000, compared to $54,770,000 in the nine months period ended September 30, 2022. The decrease is mainly attributed to a decrease in share-based payments and subcontractors’ expenses, and is partially offset by an increase in materials, depreciation and other R&D expenses.

• S&M expenses for the nine months period ended September 30, 2023, were $23,418,000, compared to $29,075,000 in the nine months period ended September 30, 2022. The decrease is mainly attributed to a decrease in share-based payments, payroll and other marketing expenses.

• G&A expenses for the nine months period ended September 30, 2023, were $44,203,000, compared to $21,366,000 in the nine months period ended September 30, 2022. The increase is mainly attributed to an increase in professional services, payroll and shared-based payments expenses.

• Net loss attributed to the owners of the Company for the nine months period ended September 30, 2023, was $53,501,000, or $0.21 per share, compared to loss of $139,756,000, or $0.54 per share, in the nine months period ended September 30, 2022.
  

Balance Sheet Highlights

• Cash and cash equivalents, together with short-term unrestricted bank deposits totaled $872,677,000 as of September 30, 2023, compared to $1,032,025,000 as of December 31, 2022.

• Shareholders’ equity totaled $1,021,483,000 as of September 30, 2023, compared to $1,149,525,000 as of December 31, 2022.
  

CONFERENCE CALL INFORMATION:

The Company will host a conference call to discuss the Q3/2023 financial results today, November 28^th, 2023, at 9:00 a.m. EDT (4:00 p.m. IDT). Please dial-in or connect via webcast through the below details. Those dialing-in will be able to ask questions. Those connecting via webcast will see a live presentation.

• Dial-in pre-registration: https://dpregister.com/sreg/10184404/fb08a97248
• Dial-in - toll free: 1-844-695-5517
• Dial-in - international: 1-412-902-6751
• Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=w2qoFPuq
  

There will be a replay available from a link on Nano Dimension’s website at http://investors.nano-di.com/events-and-presentations.

About Nano Dimension

Nano Dimension’s (Nasdaq: NNDM) vision is to transform existing electronics and mechanical manufacturing into Industry 4.0 environmentally friendly & economically efficient precision additive electronics and manufacturing – by delivering solutions that convert digital designs to electronic or mechanical devices - on demand, anytime, anywhere.

Nano Dimension’s strategy is driven by the application of deep learning based AI to drive improvements in manufacturing capabilities by using self-learning & self-improving systems, along with the management of a distributed manufacturing network via the cloud.

Nano Dimension has served over 2,000 customers across vertical target markets such as aerospace & defense, advanced automotive, high-tech industrial, specialty medical technology, R&D and academia. The company designs and makes Additive Electronics and Additive Manufacturing 3D printing machines and consumable materials. Additive Electronics are manufacturing machines that enable the design and development of High-Performance-Electronic-Devices (Hi-PED®s). Additive Manufacturing includes manufacturing solutions for production of metal, ceramic, and specialty polymers based applications - from millimeters to several centimeters in size with micron precision.

Through the integration of its portfolio of products, Nano Dimension is offering the advantages of rapid prototyping, high-mix-low-volume production, IP security, minimal environmental footprint, and design-for-manufacturing capabilities, which is all unleashed with the limitless possibilities of additive manufacturing.

For more information, please visit www.nano-di.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Nano Dimension’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Nano Dimension could differ materially from those described in or implied by the statements in this press release. For example, Nano Dimension is using forward-looking statements when it discusses its organic growth, potential profitability, opportunities, full-year 2023 expectations, ability to create value for shareholders, the potential benefits from the Initiative, including estimated annual savings, ability to become operating income positive and cash flow positive, potential M&A opportunities and investments, future share repurchases and future capital allocation. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Nano Dimension’s Annual Report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 30, 2023, and in any subsequent filings with the SEC. Except as otherwise required by law, Nano Dimension undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Nano Dimension is not responsible for the contents of third-party websites.