Nano Dimension Announces Q1/2024 Results Demonstrating Continued Gross Margin Expansion and Path to Profitability

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 amortization1,423  2,066 6,544 
Financing income net(8,152) (9,798 )(46,281)
Revaluation of financial liabilities accounted at fair value191  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 assets124  6 326 
Increase in deferred tax(3)  (11)
Share-based payments6,124  3,460 20,101 
Other45  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  

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