For those that have followed us over the last few years, most, if not all of this, is not a surprise to you. We have indicated or even said we would accomplish this.

Simply put: Promises made. Promises delivered.

I must address an important matter that requires your attention. An activist investor, Murchinson Ltd. (“Murchinson”), who some of you may recall from their activity last year, has emerged yet again. They seek to challenge and constrain our proven program of growth and transformation through proposals at our upcoming Annual General Meeting. While we respect the right of all shareholders to express their views, we believe their approach will put the very initiatives that have delivered our current successes and positioned us for future growth at risk. A look at their proposals will indicate that Murchinson STILL has yet to create the most basic of plans for value creation, providing NO insight into the business and NO executable ideas.

I urge shareholders to protect their investment and vote “FOR” all of Nano Dimension’s proposals. Act fast – voting cut-off is on Sunday, December 1st, 2024, at 11:59 p.m. ET (it may be even earlier, so please check with your broker). To learn more visit: www.ProtectingNanoValue.com.

Thank you for your continued trust and investment in our Company.

Sincerely,
Yoav Stern
Chief Executive Officer and member of the Board of Directors of Nano Dimension

FINANCIAL RESULTS:

Financial results for the third quarter ended September 30, 2024

• Total revenues for the third quarter of 2024 were $14,856,000, compared to $12,158,000 in the third quarter of 2023. The increase is attributed to increased sales of the Company’s product lines.
  
  
• Total cost of revenues for the third quarter of 2024 was $7,700,000, compared to $6,789,000 in the third quarter of 2023. The increase is attributed to increased sales of the Company’s product lines, partially offset by favorable product mix and operational efficiencies.
  
  
• As a result of the reorganizational plan executed by the Company in the fourth quarter of 2023 and other cost reduction efforts taken in 2024, the Company’s operating expenses across all departments have decreased in the third quarter of 2024 compared to the third quarter of 2023.
  
  
• Research and development (“R&D”) expenses for the third quarter of 2024 were $9,801,000, compared to $12,788,000 in the third quarter of 2023. The decrease is mainly attributed to a decrease in payroll and related expenses, subcontractors and professional services, and materials for R&D use, as well as a decrease in share-based payments expenses, largely associated with organizational synergies.
  
  
• Sales and marketing (“S&M”) expenses for the third quarter of 2024 were $6,952,000, compared to $7,715,000 in the third quarter of 2023. The decrease is mainly attributed to a decrease in payroll and related expenses, as well as a decrease in share-based payments expenses, largely associated with organizational synergies.
  
  
• General and administrative (“G&A”) expenses for the third quarter of 2024 were $9,960,000, compared to $20,848,000 in the third quarter of 2023. The decrease is mainly attributed to a decrease in professional services, associated in part with organizational synergies.
  
  
• Other expenses, net for the third quarter of 2024 were $721,000. The forementioned expenses were related to Desktop Metal and Markforged transaction costs.
  
  
• Net loss attributable to owners of the Company for the third quarter of 2024 was $8,346,000, or $0.05 loss per share, compared to net loss of $66,604,000, or $0.26 per share, in the third quarter of 2023. The decrease is mainly attributed to the revaluation of the Company’s investment in Stratasys shares, as well as a decrease in the Company’s operating expenses across all departments.
  

Financial results for the Nine months ended September 30, 2024

• Total revenues for the nine months period ended September 30, 2024, were $43,206,000, compared to $41,860,000 in the nine months period ended September 30, 2023. The increase is attributed to increased sales of the Company’s product lines in 2024.
  
  
• Total cost of revenues for the nine months period ended September 30, 2024, were $23,064,000, compared to $23,430,000 in the nine months period ended September 30, 2023. The decrease is attributed mostly to favorable product mix and increased operational efficiencies.
  
  
• As a result of the reorganization plan executed by the Company in the fourth quarter of 2023 and other cost reduction efforts taken in 2024, the Company’s operating expenses across all departments have decreased in the first nine months of 2024 compared to the first nine months of 2023.
  
  
• R&D expenses for the nine months period ended September 30, 2024, were $28,055,000, compared to $48,424,000 in the nine months period ended September 30, 2023. The decrease is attributed mostly to a decrease in payroll and related expenses, materials for R&D use, subcontractors and professional services, share-based payments expenses and other R&D expenses, largely associated with organizational synergies.
  
  
• S&M expenses for the nine months period ended September 30, 2024, were $20,690,000, compared to $23,418,000 in the nine months period ended September 30, 2023. The decrease is mainly attributed to a decrease in payroll and related expenses, as well as a decrease in share-based payments expenses, largely associated with organizational synergies.
  
  
• G&A expenses for the nine months period ended September 30, 2024, were $28,143,000, compared to $44,203,000 in the nine months period ended September 30, 2023. The decrease is mainly attributed to a decrease in professional services expenses, associated in part with organizational synergies.
  
  
• Other expenses, net for the nine months period ended September 30, 2024, were $3,333,000. The forementioned expenses mainly related to Desktop Metal and Markforged transaction costs.
  
  
• Net loss attributable to owners of the Company for the nine months period ended September 30, 2024 was $87,089,000, or $0.40 loss per share, compared to net loss of $53,501,000, or $0.21 per share, in the nine months period ended September 30, 2023. The increase is mainly attributed to the revaluation of the Company’s investment in Stratasys shares.
  

Conference call information

The Company will host a conference call to discuss these financial results today, November 20^th, 2024, at 9:00 a.m. ET (4:00 p.m. IDT).

We encourage participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10194549/fdfe9b0a00

Participants can also dial-in/connect by following the below:

• Toll-free: 844-695-5517 (to listen in an ask questions)
• International: +1-412-902-6751 (to listen in and ask questions)
• Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=ruEpbhYm (to view a presentation)
  

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. 

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 and 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.