Nano Dimension Ltd (NASDAQ:NNDM) gained ground early Wednesdsay on economic figures.
The company reported third-quarter FY21 revenue growth of 205.9% year-on-year to $1.34 million.
Higher sales of DragonFly systems and revenues from Fabrica 2.0 machines drove the growth.
The net loss per share narrowed to $(0.07) from $(0.45) Y/Y. The company held $1.4 billion in cash and equivalents.
“Our business is positively affected by sporadic yet repetitive adjustments of the relevant industrial communities toward a ‘living with COVID-19’ mentality,” CEO Yoav Stern said.
“More important is the introduction of our new DragonFly IV system, combined with the efficiency-enhancing FLIGHT Software package.”
Cash and cash equivalents, together with short-term bank deposits, totaled $1,385,391,000 as of September 30, 2021, compared to $670,934,000 as of December 31, 2020. The increase compared to December 31, 2020, mainly reflects proceeds received from the sale of
American Depositary Shares representing the Company’s ordinary shares, less cash used in operations, during the nine months ended September 30, 2021.
Total equity totaled $1,495,236,000 as of September 30, 2021, compared to $667,116,000 as of December 31, 2020.
NNDM shares traded higher by 16 cents, or 3.5%, at $4.78 in to kick off the last session of a short week Wednesday.