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Nano Dimension (NASDAQ: NNDM)

Last close As at 02/07/2024

USD2.20

— 0.00 (0.00%)

Market capitalisation

USD483m

Nano Dimension offers equipment for the additive manufacture of high-performance electronic devices, complex 3D ceramic and metal objects. It also offers miniature parts requiring a resolution of one micron and complementary equipment for automated assembly of electronic devices and PCBs.

The industry is ripe for consolidation as many peers have limited cash runways. There was a high level of bid activity in 2023 that did not culminate in any completed deals, but we expect further M&A activity this year as industry participants shift their focus from growth to profitability.

Latest Insights

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TMT | Update

Nano Dimension — Material reduction in cash burn

TMT | Update

Nano Dimension — Growth in a tough market

TMT | Flash note

Nano Dimension — Share buyback underway

TMT | Flash note

Nano Dimension — New offer for Stratasys
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Sector

TMT

Equity Analyst

Katherine Thompson

Key Management

  • Yoav Stern

    CEO

  • Yael Sandler

    CFO

  • Yoav Nissan-Cohen

    Chairman

  • Zivi Nedivi

    President

Balance Sheet

Forecast net debt (US$m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (17.4) (20.7) (4.4)
Relative (20.0) (24.7) (24.4)
52 week high/low US$3.3/US$2.1

Financials

Nano Dimension’s Q124 results confirmed that the Reshaping Nano initiative has made good progress, with significant reductions in operating costs and improved adjusted gross margins materially reducing the adjusted EBITDA loss and cash burn compared to Q123. The company bought back $52m worth of shares in Q124 and expects to continue to do so while the shares trade at a discount to book value. M&A is still firmly on the radar and discussions with potential targets are ongoing.

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 43.6 (91.3) (96.4) (37.05) N/A N/A
2023A 56.3 (99.9) (59.0) (23.35) N/A N/A
2024E N/A N/A N/A N/A N/A N/A
2025E N/A N/A N/A N/A N/A N/A

Research

Nano Dimension cd7292bc2d47964bdd0ba88e191fa76bee0e2c4ea99e0c135133a94d23c8f231

Update

TMT

Nano Dimension — Growth in a tough market
Nano Dimension cd7292bc2d47964bdd0ba88e191fa76bee0e2c4ea99e0c135133a94d23c8f231

Flash note

TMT

Nano Dimension — Share buyback underway

TMT

Update

Nano Dimension — Material reduction in cash burn
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Thematics

thematic

TMT

MediaWatch – Glimpses of positivity

thematic

TMT

MediaWatch – Rinse and repeat

thematic

Consumer

Deutsches Eigenkapitalforum (EKF) 2023 consumer and media

thematic

TMT

Deutsches Eigenkapitalforum (EKF) 2023 technology
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