SUNRISE, FL -- Nano Dimension today announced third quarter revenues of $1.34 million, up from $438,000 a year ago.

The increase is attributed to sales of its DragonFly systems and Fabrica 2.0 machines.

The net loss for the quarter ended Sept. 30 was $18.2 million, compared to $13.6 million in the second quarter of 2021, and $20.7 million in the third quarter 2020. The operating loss was $24.5 million, including approximately $12.5 million of non-cash share-based compensation plus depreciation and amortization expenses.

The company ended the quarter with a cash and deposits balance of $1.39 billion, including short-term unrestricted bank deposits.

“Our revenue for the nine months ended September 30, 2021, was up by more than 107% compared to the same period in 2020, with an increase of 65% in quarter-over-quarter compared to the second quarter of 2021," said Yoav Stern, chairman and ehief executive, Nano Dimension. "While this is a substantial early indication of the build-up of our sales and marketing network, these results are not necessarily a comprehensive attestation of the status of the company. Our business is positively affected by sporadic yet repetitive adjustments of the relevant industrial communities toward a ‘living with Covid-19 mentality.’ Encouraging as they are, our revenue numbers are still too small in absolute magnitude to derive any meaningful conclusions."

He also noted the introduction of a new additive printing machine and the acquisition of electronics assembly equipment OEM Essemtec.

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