Nano Dimension (NNDM) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue reached $26.9 million, up 81% year-over-year, primarily due to the Markforged acquisition.

• Leadership transition with new CEO and CFO appointments and renewed operational focus.

• Strategic alternatives review underway with top-tier advisors, with no set timeline for completion.

• Emphasis on disciplined execution, cost management, and capital allocation to drive profitability, with significant cost reduction initiatives underway.

• Net loss from continuing operations increased to $29.5 million, mainly due to integration and impairment costs.

Financial highlights

• Q3 2025 revenue: $26.9 million, up from $14.9 million; YTD revenue: $67.1 million.

• Standalone revenue (excluding Markforged) was $9.4 million, down 37% year-over-year due to divestitures and softer demand.

• Adjusted gross margin was 47.4%, down from 50% last year; reported gross margin was 30.3%.

• Operating expenses were $29.2 million, up 29% year-over-year, but standalone OPEX fell 42% due to cost management.

• Adjusted EBITDA loss was $16.6 million in Q3 2025, compared to a $15.3 million loss in Q3 2024.

Outlook and guidance

• Q4 2025 revenue expected between $31.5 million and $33.5 million, implying 21% sequential growth at midpoint.

• Non-GAAP gross margin guidance of 47%-48.5% for Q4.

• Q4 operating expenses expected between $28 million and $29 million, with full synergy run rate savings anticipated in 2026.

• Adjusted EBITDA loss for Q4 projected between $12 million and $14 million, a 22% improvement at midpoint.