Nano Dimension Ltd. (NASDAQ: NNDM) recently released excellent preliminary results for the second quarter of 2022. Further, it has been making acquisitions to boost its presence in the additive manufacturing (AM) industry.
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Headquartered in Israel, Nano Dimension makes and sells additively manufactured electronics as well as 3D printers for metal and ceramic additive manufacturing. Its main product is the DragonFly IV system that fulfills the fabrication requirements of High-Performance-Electronic-Devices (Hi-PEDs). The company also develops high-performance software, control electronics, and ink delivery systems.
A Snapshot of NNDM’s Q2 & H1 Preliminary Results
Revenues increased 1,275% year-over-year and 5.5% quarter-over-quarter to $11 million in the second quarter that ended June 30.
During the six-month period, revenues grew 1,244% year-over-year to $21.5 million. As of June 30, the company had cash, investment in trading securities, and deposits of $1.267 billion.
Nano Dimension is scheduled to announce its second-quarter results on September 1, before the market opens.
Recent Developments at Nano Dimension
Last month, the company revealed that it had a 12.12% stake in Israel-headquartered applied additive technology solutions provider Stratasys Ltd. (NASDAQ: SSYS).
Stratasys reported revenues of $607 million and $521 million in 2021 and 2020, respectively.
The Chairman and CEO of Nano Dimension, Yoav Stern, said, “The purpose of Nano Dimension in buying Stratasys shares is the formation of a strategic investment in a market-leader which is well established in a relatively seasoned market segment.”
Additionally, Nano Dimension has agreed to acquire Dutch additive manufacturing company Formatec Holding for $12.9 million.
Last year, Formatec recorded revenues of $5.3 million and a gross margin of 56%.
Commenting on the deal, Stern said, “Formatec’s products and services expand Nano Dimension’s Fabrica Division, adding volume manufacturing capabilities to the high precision micro-mechanical Fabrica 2.0 systems.”
Following the completion of the acquisition, Formatec Holding’s Chief Operating Officer (COO) Jaco Saurwalt will lead Nano Dimension’s Admatec/Formatec Division.
Bloggers Are Positive about NNDM Stock, but Hedge Funds Are Not
According to TipRanks, financial bloggers are 70% Bullish on the stock, compared to the sector average of 67%.
On the contrary, hedge funds tracked by TipRanks have decreased their holdings in NNDM by 2.6 million shares in the last quarter, indicating a Negative hedge fund confidence signal in the stock.
Key Takeaway
3D is the future of the additive manufacturing industry, and Nano Dimension is a front-runner with its robotics, materials science, and artificial intelligence capabilities. Further, the company offers most of the complementary equipment required for the production of high-performance electronic devices, making it a good investment option for people looking for long-term returns.
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