NESS ZIONA, ISRAEL – Nano Dimension reported fourth quarter revenues of $1.7 million, up 299.3% year-over-year and 2% sequentially. The increase is attributed to commercial sales of the DragonFly Pro 3D printer that began in the fourth quarter of 2017.
The total loss for the quarter was $4 million, compared to a loss of $4.2 million in the same quarter of 2017 and $3.6 million in the third quarter of 2018.
For 2018, revenues were $5.1 million, up 515.2% compared to 2017. Net loss for the full year was $15.5 million, compared to $17.5 million in 2017.
“Our organization and sales infrastructure continue to improve every day, and with it our expectation and confidence in our ability to deliver on our growth plans,” said CEO Amit Dror. “In 2019, we expect to triple our revenue, with $14 to $15 million in revenue for the full year. Our main goal is to increase our market share. Another goal we set for 2019 is to increase the value for customers, and we plan to achieve that by increasing the range of applications, benchmarks and features supported by our system. We believe that by executing on our plan to achieve these goals, we will manage to meet our growth targets, prepare for further growth, and improve our gross margin.”
R&D expenses for the fourth quarter were $2 million, compared to $2.6 million in the same period the prior year and $2.1 million in the third quarter of 2018. The decrease was mainly attributed to a decrease in payroll and related expenses, and a decrease in materials expenses.
Sales and marketing expenses for the quarter were $1.2 million, up 58% year-over-year and flat with the prior quarter.
R&D expenses for 2018 were $8.6, down 20% year-over-year. Sales and marketing expenses for 2018 were $4.4 million, down 102%.
As of Dec. 31, Nano Dimension had cash of $3.8 million, compared to $6.1 million on Dec. 31, 2017. Shareholders’ equity totaled $15.6 million as of Dec. 31, compared to $18.3 million the same day in the prior year.