Nano Dimension Ltd. Q2 FY2025 earnings call

• Dave Stehlin joined as new CEO, bringing over 30 years of leadership in technology-focused companies, including roles at MRV Communications and venture-backed firms. • The Board initiated a formal process to explore strategic alternatives, engaged Guggenheim Securities and Houlihan Lokey as financial advisers. • Desktop Metal assets were classified as held for sale, resulting in a noncash impairment of $139.4 million and a loss from operations of $30.4 million, and it filed for Chapter 11 bankruptcy. • Markforged integration is progressing as planned, with teams identifying synergies and aligning operations. • Completed a critical defense order valued at ~$3 million in the second quarter. • Nestle plans to expand use of Markforged systems across multiple production sites in the U.K. • Committed to capital discipline, focusing on margin expansion, strategic clarity, and value creation.

Revenue for the second quarter of 2025 was $25.8 million, a year-over-year growth of approximately 72%. Markforged, acquired on April 25th, contributed $16.1 million to revenue, which is about 62.4% of the total revenue. Excluding Markforged, revenue was $9.7 million, down 35% year-over-year. Gross profit for the quarter was $11.6 million with a gross margin of approximately 44.7%. GAAP gross margin decreased to 27.3% from 44.7% in the prior year due to amortization of the fair value step-up of acquired Markforged inventory. Operating expenses were $28.2 million, higher than the prior year but on a stand-alone basis, Nano Dimension's operating expenses decreased by over 24% year-over-year. Adjusted EBITDA for the quarter was a loss of $16.7 million. The balance sheet showed total cash, cash equivalents, and investable securities at $551 million at quarter end, including approximately $16 million related to Desktop Metal.

• The Board is exploring a comprehensive range of strategic alternatives to unlock the full potential of the business. • Focus on maintaining financial strength and building a more agile and scalable company capable of delivering strong results over time. • Continued work on Markforged integration to capture long-term growth opportunities in strategic markets.

• Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ. • Macro-economic headwinds such as high interest rates and lingering tariff pressures impacted revenue excluding Markforged. • Desktop Metal's Chapter 11 bankruptcy was a factor, but it removed a significant overhang on Nano Dimension's business.