Nano Dimension Ltd (NNDM)
NASDAQ:NNDM
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Nano Dimension
(NASDAQ:NNDM)
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Rating:47Neutral
Price Target:
$1.50
▼(-10.71% Downside)
Action:ReiteratedDate:04/01/26
The score is held down primarily by weak financial performance (large losses and sustained cash burn) and bearish near-term technicals. Offsetting these, the earnings call included constructive 2026 growth and margin guidance with improving EBITDA trends, while valuation remains constrained by ongoing losses and no dividend support.
Positive Factors
Conservative leverage and sizable liquidity
A strong cash balance and low debt (debt-to-equity ~0.06) materially reduce near-term solvency risk and give management runway to fund operations, invest in product commercialization, execute strategic alternatives, and weather cyclical demand variability without immediate financing pressure.
Negative Factors
Persistent negative operating and free cash flow
Multi-year cash burn of roughly $70M in 2025 raises funding and execution risk despite large reserves. Continued negative FCF increases reliance on existing liquidity or capital markets, constraining strategic flexibility and making sustained investment or M&A funding conditional on improving profitability.
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Positive Factors
Negative Factors
Conservative leverage and sizable liquidity
A strong cash balance and low debt (debt-to-equity ~0.06) materially reduce near-term solvency risk and give management runway to fund operations, invest in product commercialization, execute strategic alternatives, and weather cyclical demand variability without immediate financing pressure.
Read all positive factors
Nano Dimension (NNDM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$343.31M
Dividend YieldN/A
Average Volume (3M)1.98M
Price to Earnings (P/E)―
Beta (1Y)1.09
Revenue Growth42.17%
EPS Growth-215.37%
CountryUS
Employees519
SectorTechnology
Sector Strength88
IndustryComputer Hardware
Share Statistics
EPS (TTM)-0.17
Shares Outstanding207,986,280
10 Day Avg. Volume2,990,327
30 Day Avg. Volume1,980,454
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.60
Price to Sales (P/S)3.24
P/FCF Ratio-4.66
Enterprise Value/Market Cap0.48
Enterprise Value/Revenue1.61
Enterprise Value/Gross Profit4.79
Enterprise Value/Ebitda-1.97
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Nano Dimension Business Overview & Revenue Model
Company Description
Nano Dimension Ltd., together with its subsidiaries, provides additive electronics in Israel and internationally. The company's flagship product is DragonFly IV system that serves cross-industry High-Performance-Electronic-Devices' fabrication nee...
How the Company Makes Money
Nano Dimension primarily makes money by selling electronics manufacturing equipment and related solutions, and by providing ongoing products and services that support customers after installation. Key revenue streams generally include: (1) hardwar...
Nano Dimension Earnings Call Summary
Earnings Call Date:Mar 31, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 14, 2026
Earnings Call Sentiment Neutral
The call presented clear operational improvements: strong headline revenue growth (largely acquisition-driven), margin expansion, reduced adjusted EBITDA losses, cost discipline, product deployments in strategic verticals, and constructive 2026 guidance. However, substantial caveats temper the optimism: much of the growth is non-organic from the Markforged acquisition while stand-alone revenue was essentially flat; a disclosed material weakness in financial controls; a large remaining adjusted EBITDA loss and an operating cost base nearly equal to revenue; and prior acquisition disruption (Desktop Metal Chapter 11). Taken together, the company shows improving momentum and a plan toward profitability, but execution, organic growth, and control remediation remain material near-term risks.Positive Updates
Quarterly Revenue Surge (YoY and Sequential)
Q4 revenue of $35.3M, up ~142% year-over-year from $14.6M in Q4 2024 (primarily driven by inclusion of Markforged which contributed $20.7M). Sequentially, Q4 revenue increased ~31% from $26.9M in Q3 2025.
Negative Updates
Revenue Growth Largely Driven by Acquisition (Non-Organic)
Reported YoY revenue increases are substantially attributable to the April 2025 Markforged acquisition (Markforged contributed ~$54.3M for the year and ~$20.7M in Q4). Management stated stand-alone Nano Dimension revenue was ~ $14.6M in Q4 — essentially flat year-over-year, underscoring limited organic growth.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarterly Revenue Surge (YoY and Sequential)
Q4 revenue of $35.3M, up ~142% year-over-year from $14.6M in Q4 2024 (primarily driven by inclusion of Markforged which contributed $20.7M). Sequentially, Q4 revenue increased ~31% from $26.9M in Q3 2025.
Read all positive updates
Company Guidance
Nano Dimension provided annual non‑GAAP guidance for 2026 of revenue $130–$140M (implying >30% growth at the midpoint vs 2025’s $102.4M), non‑GAAP gross margin of 46%–48% (versus 46.9% for 2025 and Q4 2025 margin ~49.7%), non‑GAAP operating expenses of $106–$111M (versus $101M in 2025), and an adjusted EBITDA loss of $40–$50M (improving from a $53.2M loss in 2025); management said revenue cadence will be light in H1 and ramp in H2 (Q1 typically the lightest, Q4 the strongest), noted guidance reflects a mix of recurring book‑and‑ship and larger strategic orders (causing quarter‑to‑quarter variability), and reaffirmed targets to realize full run‑rate savings in 2026 while maintaining disciplined cost control—all on a non‑GAAP basis—and pointed to a strong balance sheet as of Dec 31, 2025 with approximately $459.6M in cash, cash equivalents, deposits and marketable securities (down from ~$515.5M, including ~$19.8M cash used for Q4 repurchases and ~14.4M shares repurchased for ~$24.9M in late Q3–Q4).Nano Dimension Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
72
Positive
Cash Flow
28
Negative
| Breakdown | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 102.44M | 57.77M | 56.31M | 43.63M | 10.49M |
| Gross Profit | 34.34M | 25.00M | 26.06M | 14.05M | 1.12M |
| EBITDA | -86.99M | -89.29M | -48.58M | -219.56M | -198.18M |
| Net Income | -100.36M | -95.89M | -54.55M | -227.42M | -200.78M |
Balance Sheet | |||||
| Total Assets | 638.22M | 901.89M | 1.06B | 1.20B | 1.39B |
| Cash, Cash Equivalents and Short-Term Investments | 288.83M | 757.96M | 851.54M | 1.03B | 1.29B |
| Total Debt | 9.24M | 10.79M | 13.81M | 17.96M | 5.42M |
| Total Liabilities | 86.24M | 43.18M | 48.55M | 53.17M | 45.72M |
| Stockholders Equity | 551.99M | 857.99M | 1.01B | 1.15B | 1.34B |
Cash Flow | |||||
| Free Cash Flow | -71.33M | -59.92M | -115.69M | -101.44M | -468.36M |
| Operating Cash Flow | -70.27M | -57.01M | -105.07M | -92.05M | -42.58M |
| Investing Cash Flow | 962.00K | 140.05M | -166.60M | -67.67M | -496.68M |
| Financing Cash Flow | -15.00M | -74.45M | -105.41M | -5.27M | 804.18M |
Nano Dimension Technical Analysis
Negative
1.68
Price Trends
1.85
Negative
1.77
Negative
1.65
Positive
Market Momentum
-0.05
Negative
42.79
Neutral
38.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NNDM, the sentiment is Negative. The current price of 1.68 is below the 20-day moving average (MA) of 1.72, below the 50-day MA of 1.85, and above the 200-day MA of 1.65, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 42.79 is Neutral, neither overbought nor oversold. The STOCH value of 38.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NNDM.
Nano Dimension Risk Analysis
Nano Dimension disclosed 47 risk factors in its most recent earnings report. Nano Dimension reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Holders of ADSs are not treated as shareholders of our Company. Q4, 2023
2.
We do not anticipate paying any dividends, except as related to the repurchase of our Ordinary Shares as provided under the Companies Law. Q4, 2023
3.
Our non-financial assets may lead to significant impairments in the future. Q4, 2023
Nano Dimension Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $188.99M | 31.62 | 16.33% | ― | 14.33% | 36.97% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
52 Neutral | $686.80M | -6.79 | -12.33% | ― | -2.93% | -22.55% | |
47 Neutral | $343.31M | ― | -44.09% | ― | 42.17% | -215.37% | |
46 Neutral | $277.30M | -1.29 | -60.71% | ― | 83.38% | 50.44% | |
45 Neutral | $270.22M | 7.65 | 14.09% | ― | -11.78% | ― | |
43 Neutral | $83.14M | -0.79 | 64.68% | ― | -9.11% | -61.28% |
* Technology Sector Average
NNDM
Nano Dimension
1.66
0.24
16.90%
DDD
3D Systems
1.85
-0.18
-8.87%
QMCO
Quantum
5.68
-5.57
-49.51%
SSYS
Stratasys
7.97
-1.11
-12.22%
OSS
One Stop Systems
7.64
5.61
276.35%
CAN
Canaan
0.42
-0.34
-45.00%
Nano Dimension Corporate Events
Business Operations and Strategy
Nano Dimension Adopts Short-Term Shareholder Rights Plan
Neutral
Feb 3, 2026
On February 2, 2026, Nano Dimension’s board adopted a limited duration shareholder rights agreement aimed at protecting the long-term interests of the company and its American Depository Shareholders by discouraging any unapproved attempt to...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.