Nano Dimension, an Israeli 3D printed electronics company, has released preliminary financial results for 2018. Highlights of 2018 include the sale of 30 DragonFly Pro 3D printers the year.
“We are very pleased with our commercial and operational results for 2018, meeting our targets and placing the company firmly on a multi-year growth trajectory,” said Amit Dror, CEO of Nano Dimension.
“2018 was a year of nailing and scaling our product, use cases and go to market channel and we believe that our results demonstrate that we have successfully laid a robust foundation for accelerated customer adoption and growth.”
Expanding geographical presence
Last year saw a rapid growth in partnerships announced by Nano Dimension. According to preliminary results, the company doubled its reseller channel from 10 to 20 value-added resellers. The report also states that Nano Dimension has successfully expanded its geographical presence with additional resellers in the Asia Pacific and Europe.
This included a strategic partnership with the AURORA Group, a Taiwanese distributor of additive manufacturing systems. Through this partnership, AURORA Group is to market and sell Nano Dimension’s DragonFly 2020 Pro 3D printer to customers in China. Nano Dimension also established its third channel partnership in North America with Fisher Unitech, a U.S. 3D printing technologies provider.
Supplying defense forces
The preliminary report goes on to state that Nano Dimension has received repeat orders from industry leaders including TTM Technologies, a Fortune 500 company supplying time-critical circuit boards, as well as a global top 10 U.S. defense company.
Following this announcement, Nano Dimension’s U.S subsidiary achieved United States Government Certified Vendor status from the United States Department of Defense’s Defense Logistics Agency after receiving a Commercial and Government Entity (CAGE) Code.
In December 2018, the multinational defense corporation Hensoldt became the latest customer of Nano Dimension’s Dragonfly Pro 3D printer. Prior to this, two DragonFly 2020 Pro systems were sold to departments in the U.S. armed forces.
Moreover, Harris Corporation, a U.S. technology company specializing in tactical communications, demonstrated the functionality of 3D printing radio frequency (RF) amplifier circuit boards using a DragonFly 2020 Pro 3D printer.
Considering the sales and reseller partnerships in 2018, Nano Dimension expects to report estimated revenues of $5.1 million for 2018, compared with $860,000 in 2017.
The preliminary results are unaudited and estimations based on current expectations and may be adjusted upon the release of the full report.
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Featured image shows the Nano Dimension facility. Photo via Nano Dimension.