Nov 9, 2016 | By Benedict
Nano Dimension, the Israel-based 3D printer manufacturer and printed electronics specialist, has posted its financial results for the third quarter of 2016. The company ended the quarter with $14,243,000 in cash and cash equivalents, with total quarterly expenses of $1,727,000.
3D printing pioneer Nano Dimension, creator of the Dragonfly 2020 3D printer, has ended the third quarter with a large increase in cash and cash equivalents, largely thanks to proceeds received from the U.S. public offering the company made during the quarter. This money was supplemented by proceeds received from government grants and exercise of warrants during the period.
“The third quarter has been marked by major milestones for Nano Dimension,” commented CEO Amit Dror. “First and foremost, the company began rolling out its sales operation. To this end, Nano Dimension supplied its first two DragonFly 2020 3D Printer systems to beta partners for evaluation and demonstration purposes. Nano Dimension also closed its first public offering of American Depository Shares (ADSs) in the United States, with total gross proceeds from the offering of approximately $13.8 million.”
Recent months have seen Nano Dimension exploring new technologies and processes. On September 20, the company tested 3D printing conductive traces onto a treated fabric in collaboration with a leading European functional textiles company. This followed the delivery of multiple Dragonfly 2020 3D printers to customers in defense, manufacturing, and other industries.
“During the quarter, the company continued to innovate and invest in R&D in new fields outside of its current core business,” Dror added. “The significant activity over the course of the third quarter positions the company well moving forward, and we believe we have great momentum for Nano Dimension's continued success.”
Nano Dimension’s Dragonfly 2020 3D printer, billed as the “world’s first PCB (printed circuit board) 3D printer,” uses an inkjet deposition and curing system to 3D print professional multilayer circuit boards. The company has developed a range of highly conductive silver nano inks for the printer.
| Q3 2016 | Q2 2016 | Q3 2015 | Reason for change between Q2 2016 and Q3 2016 | |
| R&D expenses ($) | 674,000 | 503,000 | 357,000 | Increase of $86,000 in salaries and related personnel expenses after increase in number of employees; increase of $75,000 in materials purchases |
| G&A expenses | 1,049,000 | 1,197,000 | 987,000 | Decrease of $253,000 in professional services and other general expenses |
| Net loss | 1,727,000 | 1,664,000 | 913,000 | Changes in expenses described above |
| Net loss per share | 0.05 | 0.04 | 0.03 |
Posted in 3D Printer Company
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