What happened
Nano Dimension (NNDM 0.83%) had quite a memorable Thursday on the market following the release of the 3D printing company's latest quarterly earnings report. It notched a new all-time-high revenue figure and announced the resumption of a shareholder-pleasing measure.
As a result, the price of its American Depositary Receipts (ADRs) leaped almost 15% higher on the day, crushing the less than 0.5% increase of the S&P 500 index.
So what
Nano Dimension unveiled its first-quarter figures before market open that day. It booked revenue of slightly under $15 million for the quarter, which was a robust 24% higher year over year. More good news was to be found on the bottom line where, according to generally accepted accounting principles (GAAP) standards, the company flipped to a profit of $22 million ($0.09 per ADR) against the over $33 million loss in the year-ago quarter.
Nano Dimension is not a stock followed actively by many analysts, so estimates for the quarter were not readily available. Nevertheless, the improvements were considerable and, as such, provided a strong dose of hope for the future. Contributing to this was the generally very bullish tone of the earnings release, not to mention the company's involvement in the technology that investors are currently very eager about.
"One of the most exciting developments this quarter is the fast adoption of our Deep Learning/AI technology, developed by our DeepCube division," Nano Dimension quoted CEO Yoav Stern as saying. "It is now effectively installed in our newer models of machines, advancing industrial inspection, print quality optimization, process optimization, and monitoring and maintenance of machines."
NASDAQ: NNDM
Key Data Points
Now what
As a sweetener, Nano Dimension also stated it intends to "promptly" continue its share buyback program. Somewhat frustratingly, however, it did not provide any details in the earnings release.
