Nano Dimension: Another Stellar Q2/2023 and H1/2023 Results



Consolidated Statements of Cash Flows (Unaudited)
(In thousands of USD)

  Six Months Ended
June 30,
Three Months Ended
June 30,
Year ended
December 31
  2022  2023  2022  2023  2022 
Cash flow from operating activities:     
Net income (loss)(73,262)              12,553  (39,974)          (9,406 )(228,295)
Adjustments:     
Depreciation and amortization2,856                 2,963  1,715            1,540  7,283 
Impairment losses                     —                   —  40,523 
Financing (income) expenses, net12,555             (17,622 )10,361           (9,470 )(1,769)
Revaluation of financial liabilities accounted at fair value(2,917)                  485  (1,547)              294  (4,516)
Revaluation of financial assets accounted at fair value(613)            (57,201 )(613)        (11,925 ) 62,791  
Loss (gain) from disposal of property plant and equipment and right-of-use assets (6 )                  345   (3 )              221   948  
Increase in deferred tax (1,332 )                   (95 ) (871 )              (92 ) (581 )
Share-based compensation 19,337                11,542   9,214             5,418   32,563  
Other 113                      68   19                  23   166  
  29,993              (59,515 ) 18,275          (13,991 ) 137,408  
Changes in assets and liabilities:                      —    
(Increase) decrease in inventory (1,878 )              (1,212 ) (1,410 )            (667 ) (4,603 )
(Increase) decrease in other receivables (297 )                  669   554             1,520   (1,978 )
(Increase) decrease in trade receivables (1,959 )              (6,039 ) 216            (2,331 ) (1,992 )
Increase (decrease) in other payables 1,397                (1,345 ) (327 )            (817 ) 5,281  
Increase (decrease) in employee benefits 1,736                   (399 ) 588                162   1,497  
Increase (decrease) in trade payables 839                   (828 ) 110            (2,633 ) 628  
           
  (162 )              (9,154 ) (269 )          (4,766 ) (1,167 )
Net cash used in operating activities (43,431 )            (56,116 ) (21,968 )        (28,163 ) (92,054 )
           
Cash flow from investing activities:          
Change in bank deposits (46,491 )          (151,391 ) (24,584 )         77,106   141,555  
Interest received 2,491                17,998   1,729             6,706   17,465  
Change in restricted bank deposits (75 )                   (34 ) (95 )              237   (327 )
Acquisition of property plant and equipment (4,539 )              (7,121 ) (2,564 )          (3,177 ) (9,388 )
Acquisition of subsidiaries, net of cash acquired (18,159 )                    —   (35 )                —   (31,057 )
Payment of a liability to pay a contingent consideration of business combination (9,999 )              (9,255 ) (9,999 )          (5,295 ) (10,708 )
Acquisition of financial assets in fair value through profit and loss (17,803 )                    —   (17,803 )                —   (177,775 )
Decrease in deposit in escrow                      —                    —   3,362  
Other                      —                    —   (800 )
Net cash from (used in) investing activities (94,575 )          (149,803 ) (53,351 )         75,577   (67,673 )
           
Cash flow from financing activities:          
Lease payments (1,881 )              (2,471 ) (1,085 )          (1,251 ) (4,151 )
Repayment long-term bank debt (218 )                   (96 ) (138 )              (39 ) (406 )
Proceeds from non-controlling interests                    550                  550   510  
Amounts recognized in respect of government grants liability, net (93 )                 (172 ) (48 )              (87 ) (221 )
Payments of share price protection recognized in business combination (744 )              (1,780 ) (744 )          (1,780 ) (1,005 )
Repurchase of treasury shares              (19,741 )            (1,349 )  
Net cash used in financing activities (2,936 )            (23,710 ) (2,015 )          (3,956 ) (5,273 )
Increase (decrease) in cash (140,942 )          (229,629 ) (77,334 )         43,458   (165,000 )
Cash at beginning of the period 853,626              685,362   788,141          412,172         853,626  
Effect of exchange rate fluctuations on cash (6,464 )              (1,178 ) (4,587 )          (1,075 ) (3,264 )
Cash at end of the period 706,220              454,555   706,220          454,555         685,362  
           
Non-cash transactions:          
Property plant and equipment acquired on credit 35                    328   (176 )            (148 ) 52  
Repurchase of treasury shares on credit                  3,518               3,518    
Recognition of a right-of-use asset 11,250                    199   13                  72   15,196  
Acquisition of financial assets in fair value through profit and loss 2,158     2,158      
                     

Non-IFRS Measures

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