Nano Dimension Ltd. Q4 FY2025 earnings call

• In 2H 2025, streamlined operations, reduced cash burn, aligned resources to key industries.
• Fourth quarter performance exceeded guidance, with momentum in advanced electronics, aerospace, etc.
• FX-10 platform's ability to produce composite and metal parts saw strong interest.
• SMTech's product innovation, collaborations enhancing capabilities, and global engagement generating interest.
• Strategic alternatives review in progress, transition to US domestic issuer, and capital allocation updates.

Fourth quarter revenue was $35.3 million, up ~142% y-o-y due to Markforge contributing $20.7 million. Excluding Markforge, NanoDimension's standalone revenue was ~$14.6 million, in line with prior year. Full year 2025 revenue was $102.4 million, ~77% y-o-y growth due to Markforge contributing $54.3 million. SMTech business was a meaningful contributor in Q4 and full year 2025, expanding relationships with Tier 1 customers across regions.

2026 revenue expected in range of $130M - $140M. Non-GAAP gross margin 46% - 48%. Operating expenses non-GAAP between $106M - $111M. Adjusted EBITDA loss between $40M - $50M. Revenue modest in first half, ramping in second half.

Identified a material weakness in internal control over financial reporting, primarily related to resource limitations impacting accounting for and disclosure of business combinations, and related valuation analysis.

Q: Moshi Sarsadi asked about revenue growth not being organic and share repurchases.

A: Revenue growth compares consolidated business now with prior year without Mark Forge. Share repurchases paused as better uses of money will be clear in Q2.