Company Driving Meaningful Cost Reductions
Company Issues Fourth Quarter 2025 Financial Guidance
Company Executes Significant Share Repurchases
Strategic Alternative Review Remains Active, Led by Guggenheim Securities, LLC and Houlihan Lokey
WALTHAM, Mass., Nov. 19, 2025 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (Nasdaq: NNDM) ("Nano Dimension", "Nano", or the "Company"), a leader in digital manufacturing solutions, today announced financial results for the third quarter ended September 30, 2025.
The consolidated results incorporate the financial position and performance of Markforged Holding Corporation ("Markforged") from the acquisition date of April 25, 2025. Desktop Metal, Inc. ("Desktop Metal") was acquired by the Company on April 2, 2025. The results of Desktop Metal from April 2, 2025 through July 28, 2025 as well as impairment charges related to the Desktop Metal assets and the costs associated with the bankruptcy and deconsolidation are included in Discontinued Operations on the Condensed Consolidated Statement of Operations.
Third Quarter 2025 Results:
-- Revenue: $26.9 million, a 81% increase from $14.9 million year-over-year
-- Gross Margin ("GM"): 30.3%, down from 48.0% year-over-year
-- Adjusted Gross Margin ("Adjusted GM"): 47.4%, down from 50.0%
year-over-year
-- Adjusted EBITDA loss: $16.6 million, from a loss of $15.3 million
year-over-year
-- Net Loss from Continuing Operations: $29.5 million, up from a loss of
$9.9 million year-over-year
-- Total Cash, cash equivalents, deposits and investable securities: $515.5
million as of September 30, 2025, down from $551.0 million as of June 30,
2025
Year-to-date 2025 Results:
-- Revenue: $67.1 million, a 55.4% increase from $43.2 million
year-over-year
-- Gross Margin ("GM"): 31.3%, down from 46.5% year-over-year
-- Adjusted Gross Margin ("Adjusted GM"): 45.5%, down from 48.4%
year-over-year
-- Adjusted EBITDA loss: $43.3 million, from a loss of $44.7 million
year-over-year
-- Net Loss from Continuing Operations: $66.4 million, down from a loss of
$90.5 million year-over-year
A reconciliation of Adjusted EBITDA and Adjusted Gross Margin to the most directly comparable GAAP measure can be found below in this press release under "Reconciliation of US GAAP to Non-GAAP Measures."
David Stehlin, Chief Executive Officer, commented, "Since becoming CEO in September, I committed to transforming Nano Dimension with speed, discipline and greater transparency, and that is exactly what we are accomplishing. In the third quarter and accelerating into the fourth, we are achieving measurable reductions in operating expenses, deepening customer relationships, expanding our customer base and delivering revenue growth. We believe that our stock is significantly undervalued and have recently repurchased more than 10 million shares. For the first time in the Company's recent history, we are providing financial guidance. We are beginning to realize the benefits of a laser focused approach to improving operations and driving results, all while enhancing our position with critical customers. Nano Dimension is making meaningful improvements on all fronts."
Recent Developments
-- Acceleration of Cost Reduction Initiatives: The Company expects total
savings of approximately 10% to 15%, based on second quarter reported
results adjusted to reflect a full quarter of Markforged, resulting in a
non-GAAP operating expense from continuing operations baseline of roughly
$32.5 million. In the third quarter, non-GAAP operating expenses were
already about 10% below this baseline, and the Company expects to realize
the full run rate savings in early 2026.
-- Leadership Change: John Brenton was appointed Chief Financial Officer,
effective November 1, 2025. John's disciplined approach and operational
depth will be instrumental in accelerating the execution of our cost
reduction initiatives.
-- Issued Financial Guidance: For the first time in recent history, the
Company provided non-GAAP financial guidance for the fourth quarter of
2025, including revenue of $31.5 million to $33.5 million, gross margin
of 47% to 48.5%, operating expenses of $28 million to $29 million, and
adjusted EBITDA loss of $12 million to $14 million.
-- Share Repurchases: The Company has repurchased approximately 10.1 million
shares year to date for approximately $17.1 million. This includes $5.6
million, or 3.5 million shares, repurchased during the third quarter and
$11.5 million, or 6.6 million shares, repurchased subsequent to
quarter-end.
-- Strategic Alternative Review: As previously announced in September, the
Board, with the support of Guggenheim Securities, LLC and Houlihan Lokey,
is conducting a structured, data driven evaluation of all alternatives.
The process is active and rigorous, and remains aligned with the
Company's objectives to maximize shareholder value and unlock the
potential of its technology, assets, and operations. While no timeline
has been set for completing the review, the Board remains engaged, and
the Company is committed to providing updates when there is something
definitive to report.
2025 Financial Guidance
The following fourth quarter 2025 estimates are based on a number of assumptions that management believes to be reasonable and reflect the Company's expectations as of November 19, 2025. Actual results may differ materially from these estimates as a result of various factors, and the Company refers you to the "forward-looking statements" included in this press release when considering this information.
For the fourth quarter of 2025, the Company anticipates revenue in the range of $31.5 million to $33.5 million, non-GAAP gross margin of 47% to 48.5%, non-GAAP operating expenses of $28 million to $29 million, and Adjusted EBITDA loss in the range of $12 million to $14 million.
Financial Results
Financial results for the third quarter ended September 30, 2025
-- Total revenues for the third quarter of 2025 were $26.9 million, compared
to $14.9 million in the third quarter of 2024. $17.5 million of revenues
increase is attributed from the acquisition of Markforged, which was
partially offset by lower revenues from the European business as tariffs
are still impacting sales.
-- Total cost of revenues for the third quarter of 2025 was $18.7 million,
compared to $7.7 million in the third quarter of 2024. $13.1 million of
the increase is attributed to the consolidation of Markforged, including
$4.2 million for the impact of inventory step-up amortization and
intangible asset amortization from purchase accounting.
-- Research and development ("R&D") expenses for the third quarter of 2025
were $8.5 million, compared to $10.0 million in the third quarter of
2024. The decrease is mainly attributed to a decrease in legacy payroll
and related expenses, subcontractors and professional services. These
decreases were partially offset by the acquisition of Markforged, which
increased expenses $3.8 million.
-- Sales and marketing ("S&M") expenses for the third quarter of 2025 were
$10.1 million, compared to $7.1 million in the third quarter of 2024. The
increase is mainly attributed to the acquisition of Markforged which
added $6.6 million, partially offset by a decrease in legacy payroll and
related expenses, largely associated with organizational synergies.
-- General and administrative ("G&A") expenses for the third quarter of 2025
were $14.2 million, compared to $10.6 million in the third quarter of
2024. The increase is due to the acquisition of Markforged, which added
$7.1 million, partially offset by a decrease in legacy payroll related
costs.
-- During the third quarter of 2025 restructuring expenses of $2.0 million,
$0.7 million of Desktop Litigation expenses, and $5.7 million of
impairment losses were incurred. The impairment losses were due to a
partial impairment of the Company's lease at 60 Tower Road, Waltham, MA.
-- Net loss attributable to owners of the Company from continuing operations
in the third quarter of 2025 was $29.5 million, or a loss of $0.13 per
share, compared to net loss of $9.6 million, or a loss of $0.04 per share,
in the third quarter of 2024. The increase is primarily due to the
integration of Markforged in 2025, including partial impairment of the
Company's 60 Tower lease, and restructuring costs.
-- Desktop Metal was deconsolidated in the third quarter of 2025 following
the Chapter 11 bankruptcy filing. This led to the consolidation of losses
from discontinued operations during the period of $10.6 million and a
loss from deconsolidation of $12.9 million.
Financial results for the nine months ended September 30, 2025
-- Total revenues for the nine months ended September 30, 2025, were $67.1
million, compared to $43.2 million in the nine months ended September 30,
2024. $33.6 million of revenues increase is attributed from the
acquisition of Markforged, which was partially offset by lower revenues
from the European business as tariffs are still impacting sales.
-- Total cost of revenues for the nine months ended September 30, 2025, were
$46.1 million, compared to $23.1 million in the nine months ended
September 30, 2024. $25.8 million of the increase is attributed to the
consolidation of Markforged, including $8.4 million for the impact of
inventory step-up amortization and intangible asset amortization from
purchase accounting.
-- R&D expenses for the nine months ended September 30, 2025, were $22.6
million, compared to $30.1 million in the nine month ended September 30,
2024. The decrease is attributed mostly to a decrease in legacy payroll
and related expenses, subcontractors and professional services, and
materials, largely associated with organizational synergies. These
decreases were partially offset by the acquisition of Markforged, which
increased expenses by $7.0 million.
-- S&M expenses for the nine months ended September 30, 2025, were $25.6
million, compared to $21.2 million in the nine months ended September 30,
2024. The increase is mainly attributed to the acquisition of Markforged
which added $11.8 million, partially offset by a decrease in legacy
payroll and related expenses, largely associated with organizational
synergies.
-- G&A expenses for the nine months ended September 30, 2025, were $42.0
million, compared to $31.2 million in the nine months ended September 30,
2024. The increase is due to the acquisition of Markforged, which added
$12.2 million.
-- During the nine months ended September 30, 2025, restructuring expenses
of $5.4 million, $32.0 million of Desktop Litigation expenses, and $8.4
million of impairment losses were incurred. The impairment losses were
due to a partial impairment of the Company's 60 Tower lease and the
partial impairment of the Company's former Israel headquarters.
-- Net loss attributable to owners of the Company from continuing operations
in the nine months ended September 30, 2025 was $66.1 million, or a loss
of $0.30 per share, compared to net loss of $89.8 million, or a loss of
$0.41 per share, in the third quarter of 2024. The net loss improvement
is due to the change in Stratasys share price during the nine months
ended September 30, 2025 compared to the nine months ended September 30,
2024. This was partially offset by an increase in operating expenses in
the nine months ended September 30, 2025, which includes the
consolidation of Markforged, transaction and legal expenses for the
Markforged and Desktop Metal acquisitions, restructuring costs, and
impairment losses.
-- Full impairment of the Desktop Metal asset group of $139.4 million was
recorded in the second quarter and is included in Discontinued
Operations. Desktop Metal was deconsolidated in the third quarter of 2025
following the Chapter 11 bankruptcy filing. In addition to the impairment
of the Desktop Metal asset group, losses from discontinued operations
during the period were $41.0 million and a loss on deconsolidation of
$12.9 million.
Conference Call Today
Nano Dimension will host a conference call today at 4:30 p.m. ET to discuss its financial results for the quarter ended September 30, 2025 and its financial guidance for 2025.
Participants can pre-register for the conference call in order to receive dial in information via this link: https://dpregister.com/sreg/10204294/10046022096
Participants can also dial-in/connect by following the below:
Listen in via U.S. dial-in: 1-844-695-5517
Listen via international dial-in: 1-412-902-6751
Listen via Israel toll free: 1-80-9212373
Listen via webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=cSMVcleO
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.
About Nano Dimension Ltd.
Driven by strong trends in onshoring, national security, and increasing product customization, Nano Dimension Ltd. (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/.
Non-GAAP Financial Measures
EBITDA is a non-GAAP measure and is defined as earnings before interest income, income tax, depreciation and amortization. We believe that EBITDA, as described above, should be useful in evaluating the performance of our business. 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 and operating expenses are non-GAAP measures and are defined as earnings before interest income and expense, income tax, depreciation and amortization, share-based payments, exchange rate differences, finance expenses (income) for revaluation of assets and liabilities, Desktop Metal litigation related expenses, Desktop Metal and Markforged transaction related expenses, restructuring costs, impact of deconsolidation, impairment losses, and step-up amortization from purchase accounting. We believe that Adjusted EBITDA and operating expenses, as described above, should also be useful in evaluating the performance of our business. 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 payments, restructuring costs, impairment losses, and and step-up amortization from purchase accounting. Adjusted EBITDA and operating expenses are 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, share-based compensation expenses, and step-up amortization from purchase accounting, is a non-GAAP measure and is defined as gross profit excluding amortization expenses. We believe that adjusted gross profit, as described above, should also be useful in evaluating the performance of our business. 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 and Adjusted EBITDA, and Adjusted gross profit can be useful in evaluating our performance by eliminating the effect of financing and non-cash expenses such as share-based payments, however, we may incur such expenses in the future, which could impact future results. In addition, other companies, including companies in our industry, may calculate non-GAAP metrics differently or not at all, which may reduce the usefulness of this measure as a tool for comparison.
Nano Dimension does not provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP measures due to the inherent difficulty in forecasting and quantifying certain significant items. These items are uncertain, depend on various factors and could have a material impact on GAAP reported results for the relevant period.
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, 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 May 12, 2025, 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.
Contacts:
Investors: Purva Sanariya
Director, Investor Relations
ir@nano-di.com
Media: Samuel Manning
Principal Manager, External Communications
press@nano-di.com
NANO DIMENSIONS LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS
As of September 30, 2025 and December 31, 2024
(In thousands, except share data and par value amounts)
(Unaudited)
September 30, December 31,
2025 2024
--------------- --------------
Assets
Current assets
Cash and cash equivalents $ 299,357 $ 317,169
Bank deposits 105,885 440,790
Marketable equity securities 108,585 --
Restricted deposits 60 537
Accounts receivable, net of
allowance for expected credit
losses ($1,793 and $811,
respectively) 22,087 9,141
Inventory 38,616 16,899
Other current assets 7,618 4,790
----------- ----------
Total current assets 582,208 789,326
Restricted deposits 1,655 768
Marketable equity securities -- 86,190
Property and equipment, net 25,316 14,143
Goodwill 33,356 --
Intangible assets, net 22,471 2,155
Right-of-use assets 25,334 9,958
Other assets 1,600 --
----------- ----------
Total assets $ 691,940 $ 902,540
=========== ==========
Liabilities and Stockholders'
Equity
Current liabilities
Accounts payable $ 12,087 $ 4,249
Accrued expenses 16,102 18,771
Deferred revenue 11,572 3,523
Short-term settlement payable 1,000 --
Current portion of bank loan 157 138
Lease liabilities 8,843 3,421
----------- ----------
Total current liabilities 49,761 30,102
Long-term settlement payable 4,819 --
Long-term deferred revenue 4,075 --
Employee benefits 5,333 4,700
Long-term lease liabilities 24,947 6,707
Long-term bank loan 196 276
----------- ----------
Total liabilities 89,131 41,785
----------- ----------
Commitments and contingencies
Stockholders' equity
Non-controlling interests -- 715
Share capital of NIS 5 par value
each; 500,000,000 ordinary
shares authorized; 216,933,812
and 215,777,000 shares issued
and outstanding as of September
30, 2025 and December 31, 2024,
respectively 417,108 409,145
Share premium and capital
reserves 1,295,359 1,297,348
Treasury shares (173,264) (167,651)
Foreign currency translation
reserve 2,805 1,044
Remeasurement of net defined
benefit liability (2,181) (2,181)
Accumulated loss (937,018) (677,665)
----------- ----------
Total stockholders' equity 602,809 860,755
----------- ----------
Total liabilities and stockholders'
equity $ 691,940 $ 902,540
=========== ==========
NANO DIMENSIONS LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
For the Three and Nine Months ended September 30,
2025
(In thousands, except per share data) (Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
------------------- -------------------------
2025(1) 2024 2025(1) 2024
-------- -------- --------- -------------
Revenue $ 26,884 $ 14,856 $ 67,122 $ 43,206
Cost of revenue 18,740 7,725 46,094 23,111
------- ------- -------- ------------
Gross profit 8,144 7,131 21,028 20,095
------- ------- -------- ------------
Operating
expenses
Research and
development 8,530 9,963 22,588 30,109
Sales and
marketing 10,097 7,108 25,648 21,153
General and
administrative 14,210 10,594 41,985 31,244
Restructuring
expense 2,021 -- 5,383 --
Desktop Metal
litigation
expense 693 -- 32,008 --
Impairment
losses 5,721 -- 8,406 --
------- ------- -------- ------------
Total operating
expenses 41,272 27,665 136,018 82,506
------- ------- -------- ------------
Loss from
operations (33,128) (20,534) (114,990) (62,411)
------- ------- -------- ------------
(Loss) gain on
investment in
marketable
equity
securities (2,617) (776) 22,396 (57,880)
Loss from
deconsolidation
of
subsidiaries -- -- (1,666) --
Other income
(expense), net (150) -- (206) 109
Finance expense (258) (39) (521) (2,746)
Finance income 6,674 11,449 28,697 32,481
------- ------- -------- ------------
Loss before
income taxes (29,479) (9,900) (66,290) (90,447)
Income tax
expense
(benefit) 24 (47) 123 78
------- ------- -------- ------------
Net loss from
continuing
operations (29,503) (9,853) (66,413) (90,525)
Net loss from
discontinued
operations, net
of income tax
of nil (23,502) -- (193,263) --
------- ------- -------- ------------
Net loss (53,005) (9,853) (259,676) (90,525)
======= ======= ======== ============
Loss
attributable to
non-controlling
interests -- (294) (323) (774)
------- ------- -------- ------------
Loss
attributable to
owners $(53,005) $ (9,559) $(259,353) $ (89,751)
======= ======= ======== ============
Basic and
diluted loss per
share
Net loss per
share from
continuing
operations -
basic and
diluted $ (0.13) $ (0.04) $ (0.30) $ (0.41)
Net loss per
share from
discontinued
operations -
basic and
diluted $ (0.11) $ -- $ (0.89) $ --
(1) The results for the three months ended September 30, 2025 include the consolidation of Markforged revenue of $17.5 million, gross profit of $4.3 million, and GAAP net loss of $19.2 million. The results for the nine months ended September 30, 2025 include the consolidation of Markforged revenue of $33.6 million, gross profit of $7.8 million, and GAAP net loss of $29.5 million.
NANO DIMENSIONS LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands) (Unaudited)
For the Nine Months Ended
September 30,
-----------------------------
2025 2024
---------------- ----------
Cash flow from operating activities:
Net loss from continuing operations $ (66,413) $ (90,525)
Adjustments:
--------------------------------------
Depreciation, amortization, and
non-cash lease interest 15,052 1,870
Impairment losses 8,406 --
Financing income, net (28,448) (29,782)
Interest received 28,615 32,835
(Gain) loss from revaluation of
financial assets and liabilities
accounted at fair value (22,377) 57,927
Loss from deconsolidation of
subsidiaries 1,666 --
Share-based payments 3,018 12,508
Other 537 190
------------ ---------
(59,944) (14,977)
Changes in assets and liabilities:
Decrease (increase) in inventory 3,418 (1,609)
(Increase) decrease in other
receivables (602) 6,238
Decrease in trade receivables 2,171 217
Decrease in other payables (9,324) (3,930)
Decrease in employee benefits (508) (282)
Increase (decrease) in trade payables 6,255 (1,015)
------------ ---------
Net cash used in operating activities (58,534) (15,358)
------------ ---------
Cash flow from investing activities:
Change in bank deposits 333,799 (7,563)
Change in restricted bank deposits 462 (11)
Acquisition of property, plant and
equipment (672) (1,659)
Acquisition of intangible asset -- (711)
Acquisition of subsidiaries, net of
cash acquired (267,806) --
Deconsolidation of subsidiaries (476) --
------------ ---------
Net cash provided by (used in)
investing activities 65,307 (9,944)
------------ ---------
Cash flow from financing activities:
Repayment long-term bank debt (111) (143)
Proceeds from non-controlling
interests -- 555
Payments of share price protection
recognized in business combination -- (363)
Repurchase of treasury shares (5,050) (69,755)
------------ ---------
Net cash used in financing activities (5,161) (69,706)
------------ ---------
Cash flows provided by (used in)
discontinued operations:
Net cash used in operating activities (31,945) --
Net cash used in investing activities (437) --
Net cash provided by financing
activities 10,009 --
------------ ---------
Net cash used in discontinued
operations (22,373) --
Decrease in cash and cash equivalents (20,761) (95,008)
------------ ---------
Cash and cash equivalents at beginning
of the period 317,169 309,571
Effect of exchange rate fluctuations
on cash 2,949 (903)
------------ ---------
Cash and cash equivalents at end of
the period $ 299,357 $ 213,660
============ =========
Supplemental disclosures of cash flow
information
Cash and cash equivalents $ 299,357 $ 213,660
Restricted cash in restricted
deposits, current 60 60
Restricted cash in restricted
deposits, non-current 1,655 861
------------ ---------
Total cash, cash equivalents and
restricted cash shown in the
condensed consolidated statements of
cash flows $ 301,072 $ 214,581
============ =========
Non-cash transactions:
Property, plant and equipment acquired
on credit $ 13 $ 124
Repurchase of treasury shares in trade
payables 563 --
Recognition of a right-of-use asset 1,167 1,215
Income taxes paid during the period 56 271
NANO DIMENSIONS LTD.
RECONCILIATION OF US GAAP TO NON-GAAP MEASURES
(In thousands) (Unaudited)
Three Months Ended Nine Months Ended
Sept 30, Sept 30,
------------------- ---------------------
2025 2024 2025 2024
-------- -------- --------- ---------
GAAP Net loss
from continuing
operations $(29,503) $ (9,853) $ (66,413) $ (90,525)
Tax expense
(benefit) 24 (47) 123 78
Depreciation and
amortization 2,516 518 5,026 1,870
Interest expense 244 -- 428 --
Interest income (4,880) (10,635) (20,133) (32,481)
------- ------- -------- --------
Non-GAAP EBITDA
(loss) (31,599) (20,017) (80,969) (121,058)
Finance expenses
(income) from
revaluation of
assets and
liabilities 2,617 790 (22,375) 57,927
Exchange rate
differences (1,776) (814) (8,500) 2,635
Share-based
payments
expense 1,373 4,053 3,018 12,508
Desktop Metal
litigation
related
expenses 693 -- 32,008 --
Desktop Metal and
Markforged
transaction
related
expenses 770 721 10,591 3,442
Restructuring
costs 2,021 -- 5,383 --
Loss from
deconsolidation
of subsidiaries -- -- 1,666 --
Impairment losses 5,721 -- 8,406 --
Acquisition
inventory
step-up
amortization 3,603 -- 7,452 --
Other non-GAAP -- -- -- (115)
------- ------- -------- --------
Non-GAAP Adjusted
EBITDA from
continuing
operations $(16,577) $(15,267) $ (43,320) $ (44,661)
======= ======= ======== ========
Three Months Ended Nine Months Ended
Sept 30, Sept 30,
---------------- ------------------- ---------------------
Non-GAAP Cost of
Revenue 2025 2024 2025 2024
-------- -------- --------- ---------
GAAP Cost of
revenue $ 18,740 $ 7,725 $ 46,094 $ 23,111
Share-based
payments
expense 171 242 497 710
Depreciation and
amortization 822 56 1,544 108
Acquisition
inventory
step-up
amortization 3,603 -- 7,452 --
------- ------- -------- --------
Non-GAAP Cost of
revenue $ 14,144 $ 7,427 $ 36,601 $ 22,293
======= ======= ======== ========
Three Months Ended Nine Months Ended
Sept 30, Sept 30,
---------------- ------------------- ---------------------
Non-GAAP Gross
Profit 2025 2024 2025 2024
-------- -------- --------- ---------
GAAP Gross profit $ 8,144 $ 7,131 $ 21,028 $ 20,095
Share-based
payments
expense 171 242 497 710
Depreciation and
amortization 822 56 1,544 108
Acquisition
inventory
step-up
amortization 3,603 -- 7,452 --
------- ------- -------- --------
Non-GAAP Gross
profit $ 12,740 $ 7,429 $ 30,521 $ 20,913
======= ======= ======== ========
Three Months Ended Nine Months Ended
Sept 30, Sept 30,
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