| ● | Cash totaled $3,894,000 as of December 31, 2019, compared to $3,753,000 on December 31, 2018. The increase compared to December 31, 2018, mainly reflects proceeds received from the sale of American Depositary Shares representing the Company’s ordinary shares in the first quarter of 2019, and from issuance of notes in the third quarter of 2019, less cash used in operations during the year ended December 31, 2019. In February 2020, Nano Dimension announced the closing of a public offering of American Depositary Shares, with total gross proceeds of $3.9 million. |
| ● | Shareholders’ equity totaled $11,602,000 as of December 31, 2019, compared to $15,572,000 as of December 31, 2018. |
Conference call information
The company will host a conference call to discuss these financial results today, March 10, 2020, at 9:00 a.m. EDT (3:00 p.m. IST). Investors interested in participating are invited to register for the conference call here: http://dpregister.com/10139954. Dial-in numbers, including a local Israeli number and instructions, will be provided upon registration. U.S. Dial-in Number: 1-844-695-5517, International Dial-in Number: 1-412-902-6751. Please request the “Nano Dimension NNDM call” when prompted by the conference call operator. The conference call will also be webcast live from the Investor Relations section of Nano Dimension’s website at http://investors.nano-di.com/events-and-presentations.
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 Ltd.
Nano Dimension (Nasdaq, TASE: NNDM) is a provider of intelligent machines for the fabrication of Additively Manufactured Electronics (AME). High fidelity active electronic and electromechanical subassemblies are integral enablers of autonomous intelligent drones, cars, satellites, smartphones, and in vivo medical devices. They necessitate iterative development, IP safety, fast time-to-market and device performance gains, thereby mandating AME for in-house, rapid prototyping and production. Nano Dimension machines serve cross-industry needs by depositing proprietary consumable conductive and dielectric materials simultaneously, while concurrently integrating in-situ capacitors, antennas, coils, transformers and electromechanical components, to function at unprecedented performance. Nano Dimension bridges the gap between PCB and semiconductor integrated circuits. A revolution at the click of a button: From CAD to a functional high-performance AME device in hours, solely at the cost of the consumable materials. 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. For example, Nano Dimension is using forward-looking statements in this press release when it discusses the potential of its products, changing its Go-To-Market strategy by moving from sales through resellers to direct sales or sales through agents and representatives, providing customers with application support and training, as well as maintenance and printing support activities, converting resellers to lead-generation electronic-industry-agents and representatives, concentrating efforts mainly on the U.S. market, followed by the European and Asia Pacific markets, launching NaNoS, offering customers proof of concept and prototyping services, recruiting U.S. management, sales and customer care personnel that will support and expand the company’s activities, and that the company does not expect its supply chain to be negatively affected by COVID-19. Because such statements deal with future events and are based on Nano Dimension's current expectations, they are subject to various risks and uncertainties. Actual results, performance or achievements of Nano Dimension could differ materially from those described in or implied by the statements in this press release. 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 10, 2020, 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.
NANO DIMENSION INVESTOR RELATIONS CONTACT
Yael Sandler, CFO |
ir@nano-di.com
Consolidated Statements of Financial Position as at
| 2018(*) | 2019 | |||||||
| Thousand
USD | Thousand
USD | |||||||
| Assets | ||||||||
| Cash | 3,753 | 3,894 | ||||||
| Restricted deposits | 21 | 31 | ||||||
| Trade receivables | 1,313 | 1,816 | ||||||
| Other receivables | 570 | 570 | ||||||
| Inventory | 3,116 | 3,543 | ||||||
| Total current assets | 8,773 | 9,854 | ||||||
| Restricted deposits | 347 | 377 | ||||||
| Property plant and equipment, net | 5,200 | 4,743 | ||||||
| Right of use asset | - | 2,673 | ||||||
| Intangible assets | 5,983 | 5,211 | ||||||
| Total non-current assets | 11,530 | 13,004 | ||||||
| Total assets | 20,303 | 22,858 | ||||||
| Liabilities | ||||||||
| Trade payables | 1,414 | 850 | ||||||
| Other payables | 2,178 | 3,575 | ||||||
| Total current liabilities | 3,592 | 4,425 | ||||||
| Liability in respect of government grants | 895 | 1,044 | ||||||
| Lease liability | - | 2,089 | ||||||
| Liability in respect of convertible notes and warrants | - | 3,698 | ||||||
| Other long-term liabilities | 244 | - | ||||||
| Total non-current liabilities | 1,139 | 6,831 | ||||||
| Total liabilities | 4,731 | 11,256 | ||||||
| Equity | ||||||||
| Share capital | 3,291 | 6,441 | ||||||
| Share premium and capital reserves | 63,969 | 65,202 | ||||||
| Treasury shares | (1,509 | ) | (1,509 | ) | ||||
| Presentation currency translation reserve | 1,431 | 1,431 | ||||||
| Accumulated loss | (51,610 | ) | (59,963 | ) | ||||
| Total equity | 15,572 | 11,602 | ||||||
| Total liabilities and equity | 20,303 | 22,858 | ||||||
(*) See note 2.C to the company’s 2019 financial reports regarding initial application of IFRS 16, Leases . According to the transitional method that was chosen, comparative data were not restated.
