Nano Dimension Announces 2024 Financial Results and Shares 2025 Strategic Outlook
Outlines Disciplined Strategy to Position Nano Dimension as a Digital Manufacturing Leader Benefiting From the Global Trade and Production Realignment
Details Post-Acquisition Playbook and Operational Focus on Capital Strength and Profitable Growth
Conference Call Today at 4:30 PM EST
WALTHAM, Mass., April 30, 2025 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (Nasdaq: NNDM) ("Nano Dimension" or the "Company"), a leader in Digital Manufacturing solutions, today announced its 2024 financial results and shared its 2025 strategic outlook.
Letter from Ofir Baharav, CEO:
Dear Shareholders,
I am pleased to share an update with you on our 2024 financial results and strategic outlook. 2024 marked the beginning of transformative change for Nano Dimension.
The Company's Board of Directors was fully reconstituted following strong shareholder support for an independent slate. Together with a refreshed management team, we've assembled a leadership group built for this moment - combining deep expertise in technology, manufacturing, commercial strategy, operations, and governance. We are united by our shared commitment: To steward your capital responsibly and create lasting shareholder value.
To This Point of Transformation
Over the past few months, I've visited nearly every site across the Company, including those of Desktop Metal and Markforged. I've met with teams across all functions and levels - listening, learning, and sharing ideas. I've gained insights into where we can grow revenue, reduce costs, and unlock greater value. Most importantly, I've spent time at the heart of our innovation - our technology - and developed a deeper appreciation for the cutting-edge work underway. These experiences have only increased my confidence in our future. We are at a point of transformation where changes are already in motion - we are well positioned to unlock our full potential.
To Our Vision of Digital Manufacturing Leadership
The transformation will be built on our vision to become the preeminent leader in digital manufacturing of industrial manufacturing solutions that are at the pinnacle of multi-disciplinary technology - combining software, machine learning, materials science and hardware - for manufacturing of parts at scale.
We are setting ourselves apart by focusing on the following business principles:
1. Partnering with leading industrial titans to enable advanced, complex
parts manufacturing at scale, rather than fabrication of experimental
designs and concepts.
2. Utilizing our cloud based processing, machine learning, and intelligent
systems to deliver precise and scalable parts production.
3. Disciplined execution, true to our business model, aligned with our
vision, and true to our customers' strong commitment to profitable growth
with a strong capital base.
There has never been a more important moment to align with this vision. Global trade and production are undergoing a once-in-a-generation disruption, and digital manufacturing - driven by rapid production to enable re-shoring, supply chain resilience, IP security, and sustainability - is emerging at its core.
To execute on this strategy, we are driving change starting with Nano Dimension's core business which - even prior to the recent acquisitions - was in urgent need of transformation. We implemented a clear playbook: assess, transform, invest, and grow .
Our assessment focused on two fronts: product rationalization and operating model optimization.
We took a hard look at our product portfolio. Every offering must meet our vision of leadership in making industrial manufacturing solutions for advanced, complex parts. We must achieve category leadership - differentiated and defensible against low-cost competition, particularly from the Far East. These products must align with future growth trends, and, most importantly, deliver strong returns for shareholders.
In parallel, we scrutinized our operating model. We challenged excessive G&A, including unwarranted management overhead, broke down silos, especially in sales and marketing, and realigned the organization around the customer. We streamlined the structure: less hierarchy, more execution, and a flatter, faster organization better equipped to innovate and deliver.
The outcome was a focused commitment to two core product groups: Additively Manufactured Electronics $(AME.AU)$ and surface-mount technology $(SMT.UK)$. At the same time, we made the decision to discontinue non-core product groups, including Admatec, DeepCube, Fabrica, and Formatec.
These moves - along with broader organizational efficiencies - enabled us to reduce the annualized operating expenses of our core business by over $20 million and increase revenue per employee from $147,000 to 223,000, a 52% gain.
This was disciplined, decisive action - and it delivered results.
In terms of Desktop Metal and Markforged, both organizations have technologies that are aligned with Nano Dimension's focus on digital manufacturing of advanced, complex parts. Yet, it is essential that we remain objective and critical - particularly regarding operational inefficiencies and financial challenges that stakeholders are already aware of.
Desktop Metal has limited liquidity and significant liabilities, including but not limited to $115 million principal amount of outstanding convertible notes, incurred prior to our acquisition. Desktop Metal does not currently have liquidity or a financing commitment sufficient to fund the repurchase of the notes required by the indenture or satisfy its other material liabilities. Following our acquisition, we provided limited financing to Desktop Metal to help it address short-term liquidity needs and run a process to evaluate its strategic alternatives. No assurances can be given as to the outcome or timing of Desktop Metal's strategic review process or our consideration of whether or in what amount to provide additional financing.
On Strategic Clarity to Shareholders
Clarity is a key tenet of my management team. Our goal is to prioritize forthrightness and trust with investors and build credibility with all stakeholders. While we are in the early stages of our review of Markforged, and while Desktop Metal is currently in the process of evaluating strategic alternatives, we commit to providing timely updates on these processes.
Nano Dimension plans to host a strategic update in June 2025.
We believe that the insights and outlook we will communicate will enlighten you to our progress in fulfilling our potential to be a digital manufacturing leader and create enduring shareholder value.
Thank you,
Ofir Baharav
Chief Executive Officer
Nano Dimension
Conference Call Today
Nano Dimension will host a conference call to discuss its financial results and strategic outlook today, April 30, 2025, at 4:30 p.m. EST.
Participants can also dial-in/connect by following the below:
-- Listen in via US dial-in: 1-844-695-5517
-- Listen via international dial-in: 1-412-902-6751
-- Listen and view presentation via webcast:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=ChyIXD73
For those unable to participate in the conference call, there will be a replay available from a link on Nano Dimension's website at http://investors.nano-di.com/events-and-presentations.
Financial results:
Revenue
-- Q4 2024: $14.6 million, up 1% year-over-year -- FY 2024: $57.8 million, up 3% year-over-year
Gross Margin ("GM")
-- Q4 2024: 33%, down 1,531 bps year-over-year -- FY 2024: 43%, down 194 bps year-over-year
Adjusted gross Margin ("Adjusted GM")
-- Q4 2024: 36%, down 1,477 bps year-over-year -- FY 2024: 46%, down 269 bps year-over-year
Net loss
-- Q4 2024: $9.1 million, up 576% year-over-year
-- FY 2024: $96.9 million, up 74% year-over-year
-- Special note: Change in net loss for FY 2024 is mainly attributed to the
revaluation of our investment in Stratasys' shares.
Adjusted EBITDA (loss)
-- Q4 2024: ($20.7) million, improvement of 9% year-over-year -- FY 2024: ($65.2) million, improvement of 35% year-over-year
Cash, cash equivalents, together with bank deposits and investable securities
-- $845 million as of December 31, 2024, down from $991 million
year-over-year
Details regarding Adjusted EBITDA and adjusted gross margin can be found below in this press release under "Non-IFRS Measures."
Q1-2025 Preliminaries
-- Revenue: $14.4 million through March 31, 2025
-- Cash, cash equivalents, together with bank deposits and investable
securities: $840 million as of March 31, 2025
The above information reflects preliminary estimates with respect to certain results of Nano Dimension, based on currently available information. The actual first quarter 2025 results may vary from the preliminary estimates.
Financial results in detail
Fourth Quarter 2024 Financial Results
-- Total revenues for the fourth quarter of 2024 were $14,569,000, compared
to $14,454,000 in the fourth quarter of 2023.
-- Total cost of revenues excluding write-down of inventories and
amortization of technology for the fourth quarter of 2024 was $8,133,000,
compared to $7,358,000 in the fourth quarter of 2023.
-- As a result of the reorganizational plan executed by the Company in the
fourth quarter of 2023 and other cost reduction efforts taken in 2024,
the Company's operating expenses across all departments have decreased in
the fourth quarter of 2024 compared to the fourth quarter of 2023.
-- Research and development (R&D) expenses for the fourth quarter of 2024
were $9,102,000, compared to $13,580,000 in the fourth quarter of 2023.
The decrease is mainly attributed to a decrease in payroll and related
expenses, subcontractors expenses and materials for R&D use.
-- Sales and marketing (S&M) expenses for the fourth quarter of 2024 were
$6,261,000, compared to $8,289,000 in the fourth quarter of 2023. The
decrease is mainly attributed to a decrease in payroll and related
expenses, travel expenses and marketing expenses.
-- General and administrative (G&A) expenses for the fourth quarter of 2024
were $11,916,000, compared to $14,051,000 in the fourth quarter of 2023.
The decrease is mainly attributed to a decrease in professional services
and share-based payments expenses.
-- Other expenses, net for the fourth quarter of 2024 were $2,633,000,
compared to other income, net of $1,627,000 for the fourth quarter of
2023. In the fourth quarter of 2024 the amount is mainly attributed to
Desktop Metal and Markforged transaction costs. Other income, net in the
fourth quarter of 2023 represents compensation from government
authorities for damaged inventory, partially offset by reorganization
costs incurred during the year.
-- Net loss attributed to owners for the fourth quarter of 2024 was
$8,805,000, or $0.04 loss per share, compared to net loss of $1,049,000,
or $0.01 loss per share, in the fourth quarter of 2023.
Year Ended December 31, 2024 Financial Results
-- Total revenues for the year ended December 31, 2024, were $57,775,000,
compared to $56,314,000 in the year ended December 31, 2023.
-- Total Cost of revenues excluding write-down of inventories and
amortization of technology for the year ended December 31, 2024, was
$31,125,000, compared to $30,759,000 in the year ended December 31, 2023.
As a result of the reorganization plan executed by the Company in the
fourth quarter of 2023 and other cost reduction efforts taken in 2024,
the Company's operating expenses across all departments have decreased in
2024 compared to 2023, as detailed below.
-- R&D expenses for the year ended December 31, 2024, were $37,157,000,
compared to $62,004,000 for the year ended December 31, 2023. The
decrease is mainly attributed to a decrease in payroll and related
expenses, materials for R&D use and subcontractors expenses, as well as a
decrease in share-based payments expenses.
-- S&M expenses for the year ended December 31, 2024, were $26,951,000,
compared to $31,707,000 for the year ended December 31, 2023. The
decrease is mainly attributed to a decrease in payroll and related
expenses and share-based payments expenses.
-- G&A expenses for the year ended December 31, 2024, were $40,059,000,
compared to $58,254,000 for the year ended December 31, 2023. The
decrease is mainly attributed to a decrease in professional services,
mainly from proxy contest and legal related expenses.
-- Other expenses, net for the year ended December 31, 2024, were $5,966,000
compared to other income, net $1,627,000 for the year ended December 31,
2023. In 2024 the amount is mainly attributed to Desktop Metal and
Markforged transaction costs. In 2023 the amount represents compensation
from government authorities for damaged inventory, less reorganization
costs incurred during the year.
-- Net loss attributed to the owners for the year ended December 31, 2024,
was $95,894,000, or $0.44 per share, compared to loss of $54,550,000, or
$0.22 per share, for the year ended December 31, 2023. The increase is
mainly attributed to the revaluation of our investment in Stratasys'
shares.
Balance Sheet Highlights
-- Cash and cash equivalents, together with bank deposits totaled
$759,264,000 as of December 31, 2024, compared to $852,479,000 as of
December 31, 2023.
-- Total shareholders' equity totaled $858,707,000 as of December 31, 2024,
compared to $1,015,786,000 as of December 31, 2023.
About Nano Dimension
Driven by strong trends in onshoring, national security, and increasing product customization, Nano Dimension (Nasdaq: NNDM) delivers advanced Digital Manufacturing technologies to the defense, aerospace, automotive, electronics, and medical devices industries, enabling rapid deployment of high-mix, low-volume production with IP security and sustainable manufacturing practices.
For more information, please visit https://www.nano-di.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding Nano's future growth, strategic plan and value to shareholders, Desktop Metal's strategic review process, and all other statements other than statements of historical fact that address activities, events or developments that Nano intends, expects, projects, believes or anticipates will or may occur in the future. Such statements are based on management's beliefs and assumptions made based on information currently available to management. These forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Because such statements deal with future events and are based on the current expectations of Nano, they are subject to various risks and uncertainties. The forward-looking statements contained or implied in this communication are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Nano's annual report on Form 20-F filed with the Securities and Exchange Commission (the "SEC") on March 21, 2024, and in any subsequent filings with the SEC. Except as otherwise required by law, Nano undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this communication.
Investors: ICR - nano-di@icrinc.com
Media: NanoDimension@feintuchpr.com
Consolidated Statements of Financial Position as at
(In thousands of U.S dollars)
December 31,
2023 2024
Assets
Cash and cash equivalents 309,571 317,169
Bank deposits 541,967 440,790
Restricted deposits 60 537
Trade receivables 12,710 9,141
Other receivables 11,290 4,790
Inventory 18,390 16,899
--------- ---------
Total current assets 893,988 789,326
Restricted deposits 881 768
Investment in securities 138,446 86,190
Property plant and equipment, net 16,716 14,143
Right-of-use assets 12,072 9,307
Intangible assets 2,235 2,155
--------- ---------
Total non-current assets 170,350 112,563
========= =========
Total assets 1,064,338 901,889
--------- ---------
Liabilities
Trade payables 4,696 4,249
Other payables 25,265 22,461
Current portion of lease liability 4,473 3,968
Current portion of bank loan 38 138
--------- ---------
Total current liabilities 34,472 30,816
--------- ---------
Liability in respect of government grants 1,895 843
Employee benefits 2,773 4,700
Lease liability 8,742 6,547
Deferred tax liabilities 75 --
Bank loan 595 276
--------- ---------
Total non-current liabilities 14,080 12,366
========= =========
Total liabilities 48,552 43,182
--------- ---------
Equity
Non-controlling interests 1,011 715
Share capital 400,700 409,145
Share premium and capital reserves 1,299,542 1,304,617
Treasury shares (97,896) (167,651)
Foreign currency translation reserve 2,929 1,044
Remeasurement of net defined benefit
liability (IAS 19) 707 (2,062)
Accumulated loss (591,207) (687,101)
--------- ---------
Equity attributable to owners of the Company 1,014,775 857,992
--------- ---------
Total equity 1,015,786 858,707
--------- ---------
Total liabilities and equity 1,064,338 901,889
========= =========
Consolidated Statements of Profit or Loss and Other
Comprehensive Income
(In thousands of U.S dollars, except per share amounts)
----------------------------------------------------------------
Three Months
For the year ended Ended
December 31, December 31,
-------------------- --------------------
2023 2024 2023 2024
Revenues 56,314 57,775 14,454 14,569
Cost of revenues 30,759 31,125 7,358 8,133
Cost of revenues -
write-down of
inventories and
amortization of
technology 97 1,655 68 1,583
-------- -------- ------- -------
Total cost of
revenues 30,856 32,780 7,426 9,716
-------- -------- ------- -------
Gross profit 25,458 24,995 7,028 4,853
Research and
development
expenses 62,004 37,157 13,580 9,102
Sales and marketing
expenses 31,707 26,951 8,289 6,261
General and
administrative
expenses 58,254 40,059 14,051 11,916
Other expenses
(income), net (1,627) 5,966 (1,627) 2,633
Impairment loss -- 1,283 -- 1,283
-------- -------- ------- -------
Operating loss (124,880) (86,421) (27,265) (26,342)
Finance income 70,934 43,540 26,904 17,723
Finance expenses 1,652 53,645 796 122
-------- -------- ------- -------
Loss before taxes on
income (55,598) (96,526) (1,157) (8,741)
Taxes expenses (62) (397) (183) (319)
-------- -------- ------- -------
Loss for the period (55,660) (96,923) (1,340) (9,060)
======== ======== ======= =======
Loss attributable to
non-controlling
interests (1,110) (1,029) (291) (255)
Loss attributable to
owners (54,550) (95,894) (1,049) (8,805)
Loss per share
Basic loss per share (0.22) (0.44) (0.01) (0.04)
Other comprehensive
income items that
after initial
recognition in
comprehensive income
were or will be
transferred to
profit or loss
Foreign currency
translation
differences for
foreign operations 2,368 (1,944) 2,024 (1,647)
Other comprehensive
income items that
will not be
transferred to
profit or loss
Remeasurement of net
defined benefit
liability (IAS 19),
net of tax (1,801) (2,769) (741) (1,336)
Total other
comprehensive
income for the
period 567 (4,713) 1,283 (2,983)
Total comprehensive
loss for the
period (55,093) (101,636) (57) (12,043)
Comprehensive loss
attributable to
non-controlling
interests (1,088) (1,088) (258) (308)
Comprehensive loss
attributable to
owners of the
Company (54,005) (100,548) 201 (11,735)
Consolidated Statements of Changes in Equity (Unaudited)
--------------------------------------------------------------------------------------------------------------------------------------
(In thousands of U.S dollars)
Share
premium Foreign
and currency Non-
Share capital Remeasurement Treasury translation Accumulated controlling
capital reserves of IAS 19 shares reserve loss Total interests Total equity
------- ---------- --------------- --------- ------------- ----------- ---------- ------------- ------------
For the year
ended December
31, 2024:
Balance as of
January 1,
2024 400,700 1,299,542 707 (97,896) 2,929 (591,207) 1,014,775 1,011 1,015,786
Investment of
non-controlling
party in
subsidiary -- -- -- -- -- -- -- 792 792
Loss for the
year -- -- -- -- -- (95,894) (95,894) (1,029) (96,923)
Other
comprehensive
loss for the
year -- -- (2,769) -- (1,885) -- (4,654) (59) (4,713)
Exercise of
warrants,
options and
vesting of
RSUs 8,445 (8,445) -- -- -- -- -- -- --
Repurchase of
treasury
shares -- -- -- (69,755) -- -- (69,755) -- (69,755)
Share-based
payment
acquired -- (363) -- -- -- -- (363) -- (363)
Share-based
payments -- 13,883 -- -- -- -- 13,883 -- 13,883
------- --------- ---------- --- -------- --------- ---------- --------- --------- ---------
Balance as of
December 31,
2024 409,145 1,304,617 (2,062) (167,651) 1,044 (687,101) 857,992 715 858,707
------- --------- ---------- -------- --------- ---------- --------- --------- ---------
Share
premium Foreign
and currency Non-
Share capital Remeasurement Treasury translation Accumulated controlling Total
capital reserves of IAS 19 shares reserve loss Total interests equity
For the three
months ended
December 31,
2024:
Balance as of
September 30,
2024 407,338 1,303,332 (726) (167,651) 2,638 (678,296) 866,635 965 867,600
Investment of
non-controlling
party in
subsidiary -- -- -- -- -- -- -- 58 58
Loss for the
period -- -- -- -- -- (8,805) (8,805) (255) (9,060)
Other
comprehensive
loss for the
period -- -- (1,336) -- (1,594) -- (2,930) (53) (2,983)
Exercise of
warrants,
options and
vesting of
RSUs 1,807 (1,807) -- -- -- -- -- -- --
Repurchase of
treasury shares -- -- -- -- -- -- -- -- --
Share based
payment
acquired -- -- -- -- -- -- -- -- --
Share-based
payments -- 3,092 -- -- -- -- 3,092 -- 3,092
------- --------- --------- ---- -------- -------- --- --------- ------- ----- ------ -------
Balance as of
December 31,
2024 409,145 1,304,617 (2,062) (167,651) 1,044 (687,101) 857,992 715 858,707
------- --------- --------- --- -------- -------- --- --------- ------- ----- ------ -------
Consolidated Statements of Cash Flows
(In thousands of U.S dollars)
------------------------------------------------------------------------
For the Year Ended Three Months Ended
December 31, December 31,
-------------------- ----------------------
2023 2024 2023 2024
Cash flow from operating
activities:
Net loss (55,660) (96,923) (1,340) (9,060)
Adjustments:
--------------------------
Depreciation and
amortization 6,544 6,675 1,993 1,714
Impairment loss -- 1,283 -- 1,283
Financing income net (46,281) (42,183) (19,606) (12,018)
(Loss) gain from
revaluation of financial
liabilities accounted at
fair value 461 32 (7) 41
Loss (gain) from
revaluation of financial
assets accounted at fair
value (23,462) 52,256 (6,495) (5,624)
Loss (gain) from disposal
of property plant and
equipment and
right-of-use assets 326 67 (7) (5)
Decrease (increase) in
deferred tax (11) -- 84 --
Share-based payments 20,101 13,883 4,291 3,092
Other 164 150 43 34
--------- ------- --------- -------
(42,158) 32,163 (19,704) (11,483)
Changes in assets and
liabilities:
Decrease (increase) in
inventory (340) 387 2,913 1,996
Decrease (increase) in
other receivables (5,775) 6,078 (7,434) (160)
Decrease (increase) in
trade receivables (5,603) 2,950 (1,652) 2,733
Increase (decrease) in
other payables 4,856 (1,150) 1,948 2,780
Decrease in employee
benefits (1,478) (562) (486) (280)
Increase (decrease) in
trade payables 1,089 47 (3,653) 1,062
(7,251) 7,750 (8,364) 8,131
--------- ------- --------- -------
Net cash used in operating
activities (105,069) (57,010) (29,408) (12,412)
Cash flow from investing
activities:
Change in bank deposits (189,060) 100,530 (152,044) 108,093
Interest received 41,529 42,806 11,725 9,971
Change in restricted bank
deposits (27) (377) 11 (366)
Acquisition of property
plant and equipment (9,098) (2,196) (32) (537)
Acquisition of intangible
asset (1,524) (711) -- --
Payment of a liability for
contingent consideration
in a business
combination (9,255) -- -- --
Other 835 -- 835 --
--------- ------- --------- -------
Net cash from (used in)
investing activities (166,600) 140,052 (139,505) 117,161
Cash flow from financing
activities:
Lease payments (4,823) (4,524) (1,183) (1,066)
Bank loan repayment (536) (180) (343) (37)
Proceeds from
non-controlling
interests 1,089 555 539 --
Amounts recognized in
respect of government
grants liability (298) (180) (73) (43)
Payments of share price
protection recognized in
business combination (4,459) (363) (2,679) --
Repurchase of treasury
shares (96,387) (69,755) (10,661) --
--------- ------- --------- -------
Net cash used in financing
activities (105,414) (74,447) (14,400) (1,146)
========= ======= ========= =======
Increase (decrease) in
cash and cash
equivalents (377,083) 8,595 (183,313) 103,603
Cash and cash equivalents
at beginning of the year 685,362 309,571 489,323 213,660
Effect of exchange rate
fluctuations on cash 1,292 (997) 3,561 (94)
--------- ------- --------- -------
Cash and cash equivalents
at end of the year 309,571 317,169 309,571 317,169
--------- ------- --------- -------
Non-cash transactions:
Intangible asset acquired
on credit 711 -- -- --
Property plant and
equipment acquired on
credit 214 69 515 69
Recognition of a
right-of-use asset 929 1,275 730 60
Repurchase of treasury
shares on credit -- -- (2,140) --
Non-IFRS Measures
The following are reconciliations of income before taxes, as calculated in accordance with International Financial Reporting Standards ("IFRS"), to EBITDA and Adjusted EBITDA, as well as of gross profit, as calculated in accordance with IFRS, to Adjusted Gross Profit:
Year Ended Three-Months Period
December 31, Ended December 31,
2024 2024
(In thousands of USD)
Net loss (96,923) (9,060)
Tax expenses 397 319
Depreciation and amortization 6,675 1,714
Interest income (42,573) (10,092)
------------ -----------------
EBITDA (loss) (132,424) (17,119)
Finance income from revaluation of
assets and liabilities 51,878 (5,649)
Exchange rate differences 705 (1,892)
Share-based payments expenses 13,883 3,092
Other non-GAAP income (486) (371)
Impairment loss 1,283 1,283
------------ -----------------
Adjusted EBITDA (loss) (65,161) (20,656)
Gross profit 24,995 4,853
Depreciation and amortization 574 265
Share-based payments expenses 864 177
Adjusted gross profit 26,433 5,295
EBITDA is a non-IFRS measure and is defined as earnings before interest income, income tax, depreciation and amortization. We believe that EBITDA, as described above, should be considered in evaluating the company's operations. EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting interest expenses (income), net), and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively) and EBITDA is useful to an investor in evaluating our operating performance because it is widely used by investors, securities analysts and other interested parties to measure a company's operating performance without regard to the items mentioned above.
Adjusted EBITDA is a non-IFRS measure and is defined as earnings before other financial income, income tax, depreciation and amortization, share-based payments, impairment loss and other non-GAAP income, which consists of exceeded compensation for damaged inventory and fixed assets. Other financial expenses (income), net include exchange rate differences as well as finance expenses for revaluation of assets and liabilities. We believe that Adjusted EBITDA, as described above, should also be considered in evaluating the company's operations. Like EBITDA, Adjusted EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting other financial expenses (income), net), and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively), as well as from share-based payment expenses, and Adjusted EBITDA is useful to an investor in evaluating our operating performance because it is widely used by investors, securities analysts and other interested parties to measure a company's operating performance without regard to non-cash items, such as expenses related to share-based payments.
Adjusted gross profit, excluding depreciation and amortization and share-based compensation expenses, is a non-IFRS measure and is defined as gross profit excluding amortization expenses. We believe that adjusted gross profit, as described above, should also be considered in evaluating the Company's operations. Adjusted gross profit facilitates gross profit and gross margin comparisons from period to period and company to company by backing out potential differences caused by variations in amortization of inventory and intangible assets. Adjusted gross profit is useful to an investor in evaluating our performance because it enables investors, securities analysts and other interested parties to measure a company's performance without regard to non-cash items, such as amortization expenses. Adjusted gross margin is calculated by dividing the adjusted gross profit by the revenues.
EBITDA, Adjusted EBITDA, and Adjusted gross profit do not represent cash generated by operating activities in accordance with IFRS and should not be considered alternatives to net income (loss) as indicators of our operating performance or as measures of our liquidity. These measures should be considered in conjunction with net income (loss) as presented in our consolidated statements of profit or loss and other comprehensive income. Other companies may calculate these measures differently than we do.
(END) Dow Jones Newswires
April 30, 2025 16:05 ET (20:05 GMT)
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