Nano Dimension Ltd. (NASDAQ:NNDM) Q3 2022 Earnings Conference Call December 1, 2022 9:00 AM ET
Company Participants
Yoav Stern - Chairman and Chief Executive Officer
Yael Sandler - Chief Financial Officer
Julien Lederman - Head of Corporate Development & Financial Marketing Department
Conference Call Participants
Ashok Kumar - ThinkEquity
Anne Margaret Crow - Edison Group
Operator
Good day, ladies and gentlemen. Welcome to today's Conference Call to discuss Nano Dimension's Third Quarter 2022 Financial Results and Quarterly Update. My name is Betsy and I'll be your operator for today's event.
On the call with us today are Yoav Stern, Chairman and CEO; Yael Sandler, CFO; and Julien Lederman, Head of Corporate Development.
Before we begin, may I remind our listeners that certain information provided on this call may contain forward-looking statements and the Safe Harbor statement outlined in today's earnings press release also pertains to this call. If you have not received a copy of the press release, please view it in the Investor Relations section of the company's website.
Yoav will begin the call with a business update, followed by a question-and-answer session, at which time Yael will answer questions.
I would now like to turn the conference over to Nano Dimension's Chairman and CEO, Yoav Stern. Yoav, please go ahead.
Yoav Stern
Thank you very much. Good day to everybody. We're going to go [Audio Gap] short, hopefully everybody has it in front of you. We finished a beautiful quarter of $10 million of revenue, which takes us to about $31 million of revenue over three quarters, comparing to three quarters last year as hundreds and hundreds of percent above, almost 1,000%. And comparing to the last quarter, similar period last year, it's also 650%.
So we're happy about it and we have certain criticism at ourselves, which we'll be talking about. But we'll start with the highlights, we'll go through what we think should be improved. So, on the highlights, which are not numbers highlights, but rather milestones in the business. First and foremost, we had M&A and investment activity. We acquired a relatively small company, but probably with the largest potential to grow from all the acquisition we acquired until now. So Admatec/Formatec in Netherlands with an amazing additive manufacturing technology for metals and ceramics based on DLP Direct or Digital Light Processing. It is something we looked for a long time, size of the company is relatively small, less than $10 million in revenue, but it was a subsidiary for many, many years of a much larger company that was in different business. So it was growing kind of behind the scenes. And we believe that the growth potential is more than anything we acquired until now and it will be already manifested as we go forward. This year, they'll finish one and a half quarter under us, which are already ahead of the projections last year.