For the Year Ended December 31, | For the three months Ended Dec 31 | |||||||||||||||
2021 | 2022 | 2021 | 2022 | |||||||||||||
Cash flow from operating activities: | ||||||||||||||||
Net loss | (200,824 | ) | (228,295 | ) | (159,653 | ) | (87,900 | ) | ||||||||
Adjustments: | ||||||||||||||||
Depreciation and amortization | 7,383 | 7,283 | 2,405 | 1,199 | ||||||||||||
Impairment losses | 140,290 | 40,523 | 140,290 | 40,523 | ||||||||||||
Financing (income) expenses, net | (6,873 | ) | (1,769 | ) | (5,074 | ) | (10,858 | ) | ||||||||
Revaluation of financial liabilities accounted at fair value | (10,608 | ) | (4,516 | ) | (252 | ) | 335 | |||||||||
Revaluation of financial assets accounted at fair value | — | 62,791 | — | 24,723 | ||||||||||||
Loss from disposal of property plant and equipment and Right of use assets | 567 | 948 | 495 | 857 | ||||||||||||
Increase in deferred tax | (5,013 | ) | (581 | ) | (4,279 | ) | 860 | |||||||||
Share-based payments | 29,782 | 32,563 | 8,279 | 5,926 | ||||||||||||
Other | — | 275 | — | 59 | ||||||||||||
Fees paid (*) | (70 | ) | (109 | ) | (65 | ) | (14 | ) | ||||||||
155,458 | 137,408 | 141,799 | 63,610 | |||||||||||||
Changes in assets and liabilities: | ||||||||||||||||
(Increase) decrease in inventory | 2,382 | (4,603 | ) | 2,973 | (1,219 | ) | ||||||||||
(Increase) in other receivables | (429 | ) | (1,978 | ) | (420 | ) | (5,552 | ) | ||||||||
(Increase) decrease in trade receivables | (449 | ) | (1,992 | ) | 61 | (231 | ) | |||||||||
Increase in other payables | 1,139 | 5,281 | 1,209 | 3,948 | ||||||||||||
Increase in employee benefits | — | 1,497 | — | 396 | ||||||||||||
Increase (decrease) in trade payables | 74 | 628 | (555 | ) | 670 | |||||||||||
2,717 | (1,167 | ) | 3,268 | (1,988 | ) | |||||||||||
Net cash used in operating activities | (42,649 | ) | (92,054 | ) | (14,586 | ) | (26,278 | ) | ||||||||
Cash flow from investing activities: | ||||||||||||||||
Change in bank deposits, net | (416,019 | ) | 141,555 | (244,090 | ) | 328,967 | ||||||||||
Interest received | 3,706 | 17,465 | 1,085 | 12,831 | ||||||||||||
Change in restricted bank deposits | (32 | ) | (327 | ) | (1 | ) | (311 | ) | ||||||||
Acquisition of property plant and equipment | (9,761 | ) | (9,388 | ) | (7,596 | ) | (3,329 | ) | ||||||||
Acquisition of subsidiaries, net of cash acquired | (74,574 | ) | (31,057 | ) | (11,930 | ) | 1 | |||||||||
Payment of a liability to pay a contingent consideration of business combination | — | (10,708 | ) | — | — | |||||||||||
Acquisition of financial assets in fair value through profit and loss | — | (177,775 | ) | — | — | |||||||||||
Proceeds from sale of property plant and equipment | — | — | — | — | ||||||||||||
Decrease in deposit in escrow | — | 3,362 | — | 3,362 | ||||||||||||
Other | — | (800 | ) | — | (800 | ) | ||||||||||
Net cash used in investing activities | (496,680 | ) | (67,673 | ) | (262,532 | ) | 340,721 | |||||||||
Cash flow from financing activities: | ||||||||||||||||
Proceeds from issuance of Ordinary Shares, warrants and convertible notes, net | 805,497 | — | — | — | ||||||||||||
Exercise of warrants and options | 212 | — | 62 | — | ||||||||||||
Lease payments | (1,494 | ) | (4,151 | ) | (248 | ) | (1,063 | ) | ||||||||
Repayment long-term bank debt | (814 | ) | (406 | ) | (814 | ) | (103 | ) | ||||||||
Proceeds from non-controlling interests | 944 | 510 | 354 | — | ||||||||||||
Amounts recognized in respect of government grants liability, net | (96 | ) | (221 | ) | (89 | ) | (89 | ) | ||||||||
Payments of share price protection recognized in business combination | — | (1,005 | ) | — | (261 | ) | ||||||||||
Net cash provided by (used in) financing activities | 804,249 | (5,273 | ) | (735 | ) | (1,516 | ) | |||||||||
(Decrease) increase in cash and cash equivalents | 264,920 | (165,000 | ) | (277,853 | ) | 312,927 | ||||||||||
Cash and cash equivalents at beginning of the period | 585,338 | 853,626 | 1,127,778 | 370,197 | ||||||||||||
Effect of exchange rate fluctuations on cash and cash equivalents | 3,368 | (3,264 | ) | 3,701 | 2,238 | |||||||||||
Cash and cash equivalents at end of year | 853,626 | 685,362 | 853,626 | 685,362 | ||||||||||||
Non-cash transactions: | ||||||||||||||||
Property plant and equipment acquired on credit | 249 | 52 | 147 | (457 | ) | |||||||||||
Conversion of convertible notes and warrants to equity | 2,830 | — | — | — | ||||||||||||
Recognition of a right-of-use asset | 1,919 | 15,196 | 29 | 3,660 |
Nano Dimension Announces 2022 Revenue of $43.6M
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(In thousands of USD)
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