WALTHAM, MA -- Nano Dimension today announced audited consolidated revenues of $12.1 million for the fourth quarter ended Dec. 31, up 61% over 2021 up 21% sequentially.

Revenues for the full year were $43.6 million, an increase of 316% over full year 2021.

Fourth quarter revenues rose on higher demand for the company’s product lines. R&D expenses rose about $5.9 million from a year ago to $21 million on increases in payroll and related expenses due to more research and development resources, as well as an increase in materials expenses.

The company took impairment losses in the quarter of $40.5 million, and reported a net loss of $87.7 million, compared to $159.6 million in the fourth quarter 2021.

Gross margin for 2022 was 32%, compared to 11% in 2021. The pretax loss was $228 million. EBITDA was $236.7 million, and adjusted EBITDA was $88.8 million.

“We have delivered very significant revenue growth in 2022, demonstrating further progress in our strategy to drive rapid innovation that meets customer needs. We also achieved several key customer and sales milestones, including strengthening our defense customer base with orders from a European-based military force and western global aerospace and defense contractor, as well as key transactions with academic and research institutions. We also made significant strides in executing against our goal of becoming the leading AI/deep learning framework for industrial applications. The advancements we’ve made are empowering all machines in the extended Nano Dimension ecosystem through advanced industrial inspection, print quality optimization, process optimization and monitoring and maintenance of machines, a significant value-add to new and existing customers.

We hope to accelerate our organic growth in the year ahead and remain well-positioned to execute on our M&A strategy – including our recently announced offer to acquire Stratasys Ltd. (“Stratasys”), which we view as a strategic, complementary asset in the relatively mature polymer-based AM market segment – within a flexible capital deployment framework. With the intensive help of our financial advisors, Greenhill and Lazard, in addition to our ongoing exchange with Stratasys, we continue building and pursuing our pipeline of additional prospective synergistic M&A transactions.”

Organic revenue growth of previous acquisitions included:

• AM/Admatec revenue grew +60% over 6 months since acquisition.
• Additive Electronics/Essemtec revenue grew +8% over 12 months since acquisition.
• AM/GIS revenue grew +4% over 12 months since acquisition.

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