| ● | Cash and cash equivalents totaled $5,466,000 as of September 30, 2019, compared to $3,753,000 on December 31, 2018. The increase compared to December 31, 2018, mainly reflects proceeds received from the sale of American Depositary Shares representing the Company’s ordinary shares in the first quarter of 2019, and from issuance of notes in the third quarter of 2019, less cash used in operations during the nine months ended September 30, 2019. |
| ● | Shareholders’ equity totaled $10,922,000 as of September 30, 2019, compared to $15,572,000 as of December 31, 2018. |
Conference call information
The Company will host a conference call to discuss these financial results today, November 13, 2019, at 9:00 a.m. EST (4:00 p.m. IST). Investors interested in participating are invited to register for the conference call here:
http://dpregister.com/10136192. Dial-in numbers, including a local Israeli number and instructions, will be provided upon registration. U.S. Dial-in Number: 1-844-695-5517, International Dial-in Number: 1-412-902-6751, Israel Toll Free Dial-in Number: 1-80-9212373. Please request the “Nano Dimension NNDM call” when prompted by the conference call operator. The conference call will also be webcast live from the Investor Relations section of Nano Dimension’s website at http://investors.nano-di.com/events-and-presentations.
For those unable to participate in the conference call, there will be a replay available from a link on Nano Dimension’s website at http://investors.nano-di.com/events-and-presentations.
About Nano Dimension
Nano Dimension (Nasdaq, TASE: NNDM) is a leading electronics provider that is disrupting, reshaping, and defining the future of how cognitive connected products are made. With its unique 3D printing technologies, Nano Dimension is targeting the growing demand for electronic devices that require increasingly sophisticated features. Demand for circuitry, including PCBs - which are the heart of every electronic device - covers a diverse range of industries, including consumer electronics, medical devices, defense, aerospace, automotive, IoT and telecom. These sectors can all benefit greatly from Nano Dimension's products and services for rapid prototyping and short-run manufacturing. For more information, please visit www.nano-di.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Nano Dimension’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Nano Dimension could differ materially from those described in or implied by the statements in this press release. For example, Nano Dimension is using forward-looking statements when it discusses the potential of its products, a trend of acceleration in sales, validation to its recurring-revenue business model, and continuing efforts to execute its strategy for supporting sales growth. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Nano Dimension’s Annual Report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 14, 2019, and in any subsequent filings with the SEC. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: Nano Dimension’s ability to increase sales and revenue, its burn rate, and its ability to continue as a going concern. Based on the projected cash flows and our cash balances as of September 30, 2019, Nano Dimension’s management is of the opinion that without further fund raising it will not have enough resources to enable it to continue advancing its activities for a period of at least 12 months. As a result, there is substantial doubt about Nano Dimension’s ability to continue as a going concern. Except as otherwise required by law, Nano Dimension undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Nano Dimension is not responsible for the contents of third party websites.
NANO DIMENSION INVESTOR RELATIONS CONTACT
Yael Sandler, CFO |
ir@nano-di.com
NANO DIMENSION PR CONTACT
Galit Beck, Public Relations Manager | 972-542539495 |
galit@nano-di.com
Consolidated Statements of Financial Position as at
| September 30, | December 31, | |||||||||||
| 2018 | 2019 | 2018 | ||||||||||
| (In thousands of USD) |
(Unaudited) | (Unaudited) | ||||||||||
| Assets | ||||||||||||
| Cash and cash equivalents | 7,529 | 5,466 | 3,753 | |||||||||
| Restricted deposits | 51 | 31 | 21 | |||||||||
| Trade receivables | 1,129 | 2,348 | 1,313 | |||||||||
| Other receivables | 643 | 458 | 570 | |||||||||
| Inventory | 2,644 | 3,620 | 3,116 | |||||||||
| Total current assets | 11,996 | 11,923 | 8,773 | |||||||||
| Restricted deposits | 359 | 359 | 347 | |||||||||
| Property plant and equipment, net | 5,194 | 4,979 | 5,200 | |||||||||
| Right of use asset | - | 4,054 | - | |||||||||
| Intangible assets | 6,176 | 5,404 | 5,983 | |||||||||
| Total non-current assets | 11,729 | 14,796 | 11,530 | |||||||||
| Total assets | 23,725 | 26,719 | 20,303 | |||||||||
| Liabilities | ||||||||||||
| Trade payables | 1,020 | 487 | 1,414 | |||||||||
| Other payables | 2,082 | 3,448 | 2,178 | |||||||||
| Total current liabilities | 3,102 | 3,935 | 3,592 | |||||||||
| Liability in respect of government grants | 852 | 811 | 895 | |||||||||
| Lease liability | - | 3,476 | - | |||||||||
| Liability in respect of convertible notes and warrants | - | 7,575 | - | |||||||||
| Other long-term liabilities | 258 | - | 244 | |||||||||
| Total non-current liabilities | 1,110 | 11,862 | 1,139 | |||||||||
| Total liabilities | 4,212 | 15,797 | 4,731 | |||||||||
| Equity | ||||||||||||
| Share capital | 3,291 | 5,559 | 3,291 | |||||||||
| Share premium and capital reserves | 63,943 | (*) | 64,023 | 63,969 | ||||||||
| Treasury shares | (1,509) | (1,509 | ) | (1,509 | ) | |||||||
| Presentation currency translation reserve | 1,431 | 1,431 | 1,431 | |||||||||
| Accumulated loss | (47,643 | ) | (58,582 | ) | (51,610 | ) | ||||||
| Total equity | 19,513 | 10,922 | 15,572 | |||||||||
| Total liabilities and equity | 23,725 | 26,719 | 20,303 | |||||||||
