Nano Dimension Announces 2022 Revenue of $43.6M
(In thousands of USD)
| |
|
For the Year Ended December 31, |
|
|
For the three months Ended Dec 31 |
| | | | 2021 | |
|
2022 |
| | 2021 | |
|
2022 |
| |
Cash flow from operating activities: | | | | | | | | | | | | | | Net loss | | | (200,824 | ) |
|
|
(228,295 |
) | | | (159,653 | ) |
|
|
(87,900 |
) | | Adjustments: | | | | | | | | | | | | | | | | | | Depreciation and amortization | | | 7,383 | |
|
|
7,283 |
| | | 2,405 | |
|
|
1,199 |
| | Impairment losses | | | 140,290 | |
|
|
40,523 |
| | | 140,290 | |
|
|
40,523 |
| | Financing (income) expenses, net | | | (6,873 | ) |
|
|
(1,769 |
) | | | (5,074 | ) |
|
|
(10,858 |
) | | Revaluation of financial liabilities accounted at fair value | | | (10,608 | ) |
|
|
(4,516 |
) | | | (252 | ) |
|
|
335 |
| | Revaluation of financial assets accounted at fair value | | | — | |
|
|
62,791 |
| | | — | |
|
|
24,723 |
| | Loss from disposal of property plant and equipment and Right of use assets | | | 567 | |
|
|
948 |
| | | 495 | |
|
|
857 |
| | Increase in deferred tax | | | (5,013 | ) |
|
|
(581 |
) | | | (4,279 | ) |
|
|
860 |
| | Share-based payments | | | 29,782 | |
|
|
32,563 |
| | | 8,279 | |
|
|
5,926 |
| | Other | | | — | |
|
|
275 |
| | | — | |
|
|
59 |
| | Fees paid (*) | | | (70 | ) |
|
|
(109 |
) | | | (65 | ) |
|
|
(14 |
) | | | | | 155,458 | |
|
|
137,408 |
| | | 141,799 | |
|
|
63,610 |
| | Changes in assets and liabilities: | | | | | | | | | | | | | | | | | | (Increase) decrease in inventory | | | 2,382 | |
|
|
(4,603 |
) | | | 2,973 | |
|
|
(1,219 |
) | | (Increase) in other receivables | | | (429 | ) |
|
|
(1,978 |
) | | | (420 | ) |
|
|
(5,552 |
) | | (Increase) decrease in trade receivables | | | (449 | ) |
|
|
(1,992 |
) | | | 61 | |
|
|
(231 |
) | | Increase in other payables | | | 1,139 | |
|
|
5,281 |
| | | 1,209 | |
|
|
3,948 |
| | Increase in employee benefits | | | — | |
|
|
1,497 |
| | | — | |
|
|
396 |
| | Increase (decrease) in trade payables | | | 74 | |
|
|
628 |
| | | (555 | ) |
|
|
670 |
| | | | | 2,717 | |
|
|
(1,167 |
) | | | 3,268 | |
|
|
(1,988 |
) | |
Net cash used in operating activities | | | (42,649 | ) |
|
|
(92,054 |
) | | | (14,586 | ) |
|
|
(26,278 |
) | |
Cash flow from investing activities: | | | | | | | | | | | | | | | | | | Change in bank deposits, net | | | (416,019 | ) |
|
|
141,555 |
| | | (244,090 | ) |
|
|
328,967 |
| | Interest received | | | 3,706 | |
|
|
17,465 |
| | | 1,085 | |
|
|
12,831 |
| | Change in restricted bank deposits | | | (32 | ) |
|
|
(327 |
) | | | (1 | ) |
|
|
(311 |
) | | Acquisition of property plant and equipment | | | (9,761 | ) |
|
|
(9,388 |
) | | | (7,596 | ) |
|
|
(3,329 |
) | | Acquisition of subsidiaries, net of cash acquired | | | (74,574 | ) |
|
|
(31,057 |
) | | | (11,930 | ) |
|
|
1 |
| | Payment of a liability to pay a contingent consideration of business combination | | | — | |
|
|
(10,708 |
) | | | — | |
|
|
— |
| | Acquisition of financial assets in fair value through profit and loss | | | — | |
|
|
(177,775 |
) | | | — | |
|
|
— |
| | Proceeds from sale of property plant and equipment | | | — | |
|
|
— |
| | | — | |
|
|
— |
| | Decrease in deposit in escrow | | | — | |
|
|
3,362 |
| | | — | |
|
|
3,362 |
| | Other | | | — | |
|
|
(800 |
) | | | — | |
|
|
(800 |
) | |
Net cash used in investing activities | | | (496,680 | ) |
|
|
(67,673 |
) | | | (262,532 | ) |
|
|
340,721 |
| | | | | | | | | | | | | | | | | | | |
Cash flow from financing activities: | | | | | | | | | | | | | | | | | | Proceeds from issuance of Ordinary Shares, warrants and convertible notes, net | | | 805,497 | |
|
|
— |
| | | — | |
|
|
— |
| | Exercise of warrants and options | | | 212 | |
|
|
— |
| | | 62 | |
|
|
— |
| | Lease payments | | | (1,494 | ) |
|
|
(4,151 |
) | | | (248 | ) |
|
|
(1,063 |
) | | Repayment long-term bank debt | | | (814 | ) |
|
|
(406 |
) | | | (814 | ) |
|
|
(103 |
) | | Proceeds from non-controlling interests | | | 944 | |
|
|
510 |
| | | 354 | |
|
|
— |
| | Amounts recognized in respect of government grants liability, net | | | (96 | ) |
|
|
(221 |
) | | | (89 | ) |
|
|
(89 |
) | | Payments of share price protection recognized in business combination | | | — | |
|
|
(1,005 |
) | | | — | |
|
|
(261 |
) | |
Net cash provided by (used in) financing activities | | | 804,249 | |
|
|
(5,273 |
) | | | (735 | ) |
|
|
(1,516 |
) | |
(Decrease) increase in cash and cash equivalents | | | 264,920 | |
|
|
(165,000 |
) | | | (277,853 | ) |
|
|
312,927 |
| |
Cash and cash equivalents at beginning of the period | | | 585,338 | |
|
|
853,626 |
| | | 1,127,778 | |
|
|
370,197 |
| |
Effect of exchange rate fluctuations on cash and cash equivalents | | | 3,368 | |
|
|
(3,264 |
) | | | 3,701 | |
|
|
2,238 |
| |
Cash and cash equivalents at end of year | | | 853,626 | |
|
|
685,362 |
| | | 853,626 | |
|
|
685,362 |
| | | | | | | | | | | | | | | | | | | |
Non-cash transactions: | | | | | | | | | | | | | | | | | | Property plant and equipment acquired on credit | | | 249 | |
|
|
52 |
| | | 147 | |
|
|
(457 |
) | | Conversion of convertible notes and warrants to equity | | | 2,830 | |
|
|
— |
| | | — | |
|
|
— |
| | Recognition of a right-of-use asset | | | 1,919 | |
|
|
15,196 |
| | | 29 | |
|
|
3,660 |
|
|
