Nano Dimension Ltd.

Good day, ladies and gentlemen. Welcome to Nana Dimensions' 2024 Financial Results and Shares 2025 Strategic Outlook Call. My name is Rocco, and I'm your operator for today's event. On the call with us today are Ophira Balrov, Chief Executive Officer, Asaf Sapori, Chief Financial Officer, and Julian Lederman, Chief Business Officer. Before we begin, may I remind our listeners that certain information provided on this call may contain forward-looking statements, and the safe harbor statement outlined in today's earnings press release also pertains to statements made on this call. If you have not received a copy of the press release, please view it in the investor relations section of the company's website. A replay of today's call will also be available on the investor relations section of the company's website. Please also note today's call will be recorded. Y'all will be getting the calls. With the business update, Julian will begin the call with the business update, followed by a question and answer session, at which time the management team will answer questions. Please also note today's conference is being recorded. I would now like to turn the call over to Nano Dimensions CEO, Ophir Lieberman. Please go ahead.

Good morning and good afternoon. Thank you for giving Nano Dimensions 2024 financial results and 2025 outlook call. Please allow me to set the stage for today's presentation. We'll review our 2024 milestones and results, discuss the focus and transformation created by the recently appointed board and leadership team. We know there's strong interest in our recent acquisitions and buyback plan, and we're ready to dive in. Joining me today are Julian Litterman, our Chief Business Officer, and Asaf Lepori, our new Chief Financial Officer. Julian has been with Nano for over four years and served as interim CEO from December to April. He's been central to our transformation efforts and will continue leading investors' relations. Asaf joins us from Markforged, where he was CFO He brings deep financial and domain expertise and strengthens our ability to make decisive decisions. Together, we, along with other executives from all companies, are committed to disciplined execution and long-term value creation. We are a leader in digital manufacturing. We partner with industrial leaders in the design to manufacturing of high-performance, high-value parts. We are changing the way the world designs and manufactures these parts, enabling superior parts, parts with greater complexity without adding cost, at the point of consumption, and often with unprecedented mechanical properties, such as the magic of reducing a part's weight while increasing its strength, innovating at the intersection of software, machine learning, material science, and hardware. We are able to create superior parts magic and unlock significant parts value and drive shareholders' return. To create superior parts, we're reinventing manufacturing solutions. Our unwavering vision is on producing high-value, high-performance components with significant growth potential. And we are well capitalized to accelerate our market penetration and innovate to deliver premium technologies to meet the underlying demand trends that are enhanced by the ongoing trade challenges. 2024 was a year of transformation. Shareholders demanded change. With new leadership in place, we are delivering change, focusing on disciplined fundamentals. First, customer-driven services and innovation. This means we exit non-core products and strictly focus on products capable of making high-performance, high-value, superior parts. Second, pursuit of best-in-class financial metrics. This has already helped us reduce profits by over $20 million in annual savings from the organic nano business. Third, we are bringing our product and financial discipline to how we think about further investments. I've spent the last several weeks visiting nearly every site across the company, as well as those of desktop metal and mark forged. I've met with countless colleagues at all levels of the organization. And I'm impressed by the talent and domain expertise across the board. I've participated in multiple products and go-to-market reviews. And I've gained insights into where we can grow, reduce costs, and unlock greater value. Most importantly, I've been energized by our technology's differentiation, our unique capabilities, and our passion for the creation of cost-effective, high-performance, high-value, superior parts. This has only increased my excitement in our future. We are at the point of transformation with the changes already in motion to unlock our full potential. In summary, we transformed Nano, and now we are scaling that success. We only begun executing our transformation in January. We emphasized capital discipline and product viability. We've reduced analyzed operating costs of our core nano business by 20 million. And we're applying that discipline investment approach to desktop metal and Markforged. Before getting further into those details, A sample provides you with a recap of our 2024 results.

Thank you, Ophir. Looking at our results, revenue reached $57.8 million, up 2.6% year-over-year. Adjusted EBITDA loss improved by 35% to $65.2 million. Net cash burn declined by a factor of 3.6. excluding the impact of the buyback. We also finished the year with $845 million in cash, cash equivalents, and marketable securities. I would also like to share preliminary Q1 2025 financial highlights. Revenue was $14.4 million, which is 8 percent higher than Q1 2023. Cash, cash equivalents, and marketable securities were 840 million as of March 31st, 2025. Again, these are preliminary estimates. Actual results may vary. Furthermore, our Q1 2025 results do not include our most recent acquisitions, which closed in Q2 of 2025. Now looking at our sales, despite a purchasing manager's index or PMI below 50, a bearish macro indicator, we posted positive sales growth. That is meaningful. As sentiment improves, we're positioned to capture more upside, especially with our refocused strategy This is further supported by global trade policy that is forcing manufacturers to take a hard look at their business and supply chains. Nano dimension is well positioned to assist. In looking at our operating expenses, we begin to lower operating expenses and we continue to drive efficiency.