Nano Dimension Reports 22% Q3 Revenue Increase
WALTHAM, MA – Nano Dimension reported revenue of $12.2 million in the third quarter, up 22% compared to the same quarter in 2022.
For the first nine months of the year, the company's revenue of $41.9 million marked a 33% increase compared to the same period in 2022.
"Nano Dimension’s strong organic growth continues," said CEO Yoav Stern. "Our efforts to scale our business with a focus on revenue growth and gross margin improvement are delivering results. Revenue of $41.9 million for the first nine months of 2023 was 33% higher than the same period in 2022. Gross margins and adjusted gross margins also increased considerably for the first nine months of 2023 compared to same period in 2022 from 20% to 44% and 36% to 48%, respectively.
"This revenue increase happened during notable macroeconomic uncertainty which challenged all companies in our ecosystem. The fact that our leading peers have posted year-over-year declines in revenue for their respective first nine months of 2023 makes our 33% growth even more notable. This is a result of our successful efforts to close new high-profile customer relationships, secure recurring sales from existing customers, and develop new products that open greater opportunities."
