|
Consolidated Statements of Cash Flows (Unaudited)
(In thousands of USD) | ||||||
|
Three Months Ended
March 31, |
Year ended
December 31 | |||||
| 2023 | 2024 | 2023 | ||||
| Cash flow from operating activities: | ||||||
| Net income (loss) | 21,959 | (34,962 | ) | (55,660 | ) | |
| Adjustments: | ||||||
| Depreciation and amortization | 1,423 | 2,066 | 6,544 | |||
| Financing income net | (8,152 | ) | (9,798 | ) | (46,281 | ) |
| Revaluation of financial liabilities accounted at fair value | 191 | 22 | 461 | |||
| Revaluation of financial assets accounted at fair value | (45,276 | ) | 25,789 | (23,462 | ) | |
| Loss from disposal of property plant and equipment and right-of-use assets | 124 | 6 | 326 | |||
| Increase in deferred tax | (3 | ) | — | (11 | ) | |
| Share-based payments | 6,124 | 3,460 | 20,101 | |||
| Other | 45 | 37 | 164 | |||
| (45,524 | ) | 21,582 | (42,158 | ) | ||
| Changes in assets and liabilities: | ||||||
| Increase in inventory | (545 | ) | (2,287 | ) | (340 | ) |
| (Increase) decrease in other receivables | (851 | ) | 4,589 | (5,775 | ) | |
| (Increase) decrease in trade receivables | (3,708 | ) | 313 | (5,603 | ) | |
| Increase (decrease) in other payables | (528 | ) | (1,917 | ) | 4,856 | |
| Increase (decrease) in employee benefits | (561 | ) | 51 | (1,478 | ) | |
| Increase (decrease) in trade payables | 1,805 | (345 | ) | 1,089 | ||
| (4,388 | ) | 404 | (7,251 | ) | ||
| Net cash used in operating activities | (27,953 | ) | (12,976 | ) | (105,069 | ) |
| Cash flow from investing activities: | ||||||
| Change in bank deposits | (228,497 | ) | (6,594 | ) | (189,060 | ) |
| Interest received | 11,292 | 17,154 | 41,529 | |||
| Change in restricted bank deposits | (271 | ) | (11 | ) | (27 | ) |
| Acquisition of property plant and equipment | (3,944 | ) | (776 | ) | (9,098 | ) |
| Acquisition of intangible asset | — | (711 | ) | (1,524 | ) | |
| Payment of a liability for contingent consideration in a business combination | (3,960 | ) | — | (9,255 | ) | |
| Other | — | — | 835 | |||
| Net cash from (used in) investing activities | (225,380 | ) | 9,062 | (166,600 | ) | |
| Cash flow from financing activities: | ||||||
| Lease payments | (1,220 | ) | (1,140 | ) | (4,823 | ) |
| Repayment long-term bank debt | (57 | ) | (73 | ) | (536 | ) |
| Proceeds from non-controlling interests | — | — | 1,089 | |||
| Amounts recognized in respect of government grants liability | (85 | ) | (36 | ) | (298 | ) |
| Payments of share price protection recognized in business combination | — | (363 | ) | (4,459 | ) | |
| Repurchase of treasury shares | (18,392 | ) | (51,565 | ) | (96,387 | ) |
| Net cash used in financing activities | (19,754 | ) | (53,177 | ) | (105,414 | ) |
| Decrease in cash and cash equivalents | (273,087 | ) | (57,091 | ) | (377,083 | ) |
| Cash and cash equivalents at beginning of the period | 685,362 | 309,571 | 685,362 | |||
| Effect of exchange rate fluctuations on cash | (103 | ) | (622 | ) | 1,292 | |
| Cash and cash equivalents at end of the period | 412,172 | 251,858 | 309,571 | |||
| Non-cash transactions: | ||||||
| Intangible asset acquired on credit | — | — | 711 | |||
| Property plant and equipment acquired on credit | 476 | 286 | 214 | |||
| Recognition of a right-of-use asset | 127 | 158 | 929 | |||
Nano Dimension Announces Q1/2024 Results Demonstrating Continued Gross Margin Expansion and Path to Profitability
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