Nano Dimension (NNDM) Q2 2025 earnings summary

Executive summary

• New CEO David Stehlin introduced, emphasizing experience in technology and M&A, with a focus on unlocking shareholder value and strategic execution.

• Board initiated a formal process to explore strategic alternatives, engaging Guggenheim Securities and Houlihan Lokey as advisors.

• Integration of Markforged progressing as planned, with focus on synergies and operational alignment.

• Net loss from continuing operations narrowed to $11.4 million from $44.6 million year-over-year.

• Desktop Metal acquisition resulted in a $139.4 million impairment and $30.4 million operating loss, both included in discontinued operations.

Financial highlights

• Q2 2025 revenue was $25.8 million, up 72.4% year-over-year, driven by Markforged acquisition.

• Excluding Markforged, revenue was $9.7 million, down 35% year-over-year due to macroeconomic headwinds.

• Gross profit was $11.6 million with a gross margin of 44.7%, down from 46.1% last year; GAAP gross margin fell to 27.3% due to Markforged inventory amortization.

• Adjusted EBITDA loss was $16.7 million, compared to a $14.6 million loss last year.

• Cash, cash equivalents, and investable securities stood at $551 million at quarter end, down from $840 million in Q1, mainly due to acquisitions.

Outlook and guidance

• Positive momentum in regulated industries like defense, with expectations for additional opportunities in the year ahead.

• Continued focus on scaling intelligently, driving innovation, and capturing long-term growth in strategic markets.

• Strategic alternatives review initiated to maximize shareholder value.