Nano Dimension Ltd.

Good day, ladies and gentlemen. Welcome to Nano Dimensions First Quarter 2025 Financial Results Conference Call. My name is Ashya, and I'm your operator for today's call. On the call with us today are Ofer Beharab, Chief Executive Officer, Asab Zipori, Chief Financial Officer, and Julian Letterman, 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. A fair will begin the call with a business update followed by a question and answer session, at which time the management team will answer questions. I would now like to turn the conference over to Nano Dimensions CEO, Ofer Beheraz. Ofer, please go ahead.

Good afternoon, everyone, and thank you for joining Nano Dimensions' first quarter 2025 financial results. Joining me today are Asaf Sepori, our Chief Financial Officer, and Julian Litterman, our Chief Business Officer. Let's look at who we are. We are a digital manufacturing leader. We are changing the way the world designs and manufactures high performance, high value parts. We innovate and deliver the industrial manufacturing solutions that are at the pinnacle of multidisciplinary technology, combining hardware, software, and materials science. Let's see our assistance. What you'll see here says so much about us. By combining software, machine learning, materials science, and hardware, we partner with industrial innovators to deliver high performance, high value solutions. Let's dive into headline results. Importantly, I want to reiterate that these results are for the first quarter 2025 ending March 31st, and thus only reflect Nano Dimensions business. Let's call this our core business, which does not include the acquisitions of Markforged and Desktop Metal, as they both occurred in April after the quarter closed. I'll ask Asaf to cover some of the other figures.

Thanks, Sophia. I will walk you through our financial results for Q1 2025. Just a quick note, my comments today are based on our non-IFRS results. You can find the full IFRS to non-IFRS reconciliations in our earnings release, which was issued earlier today and posted on our investor relations website. Total revenue for the period was 14.4 million, representing an 8 percent growth from Q1 2024, despite macroeconomic headwinds. Our adjusted gross margin for the quarter was 43.8 percent, compared to 49.8 percent in Q1 2024. Our gross margin in Q1 was impacted by the discontinuation of non-strategic assets. OPEX net of one-time expenses declined to $14 million in Q1 compared to $25.3 million in Q1 of last year. This improvement reflects our focus on cost controls and operational efficiencies. This focused execution is also reflected in our adjusted EBITDA loss of $9 million in Q1. That is compared to a loss of $13.6 million in Q1 2024. Finally, as of March 31st, our cash, cash equivalents, and investable securities was $840 million. Our cash balance includes our investment in strategies. Additionally, it excludes our two most recent acquisitions, where the combined purchase price of $294.5 million. Now Julian, I will hand it over to you.