Nano Dimension (NASDAQ:NNDM) is gaining in trading today after reporting Q4 and full year earnings for 2020. NNDM stock was up more than 17% on the day at the time of writing.
Nano Dimension beat out revenue estimates by 97%, but missed on earnings per share, with losses of 20 cents significantly higher than expected losses per share of 4 cents.
NNDM is an Israeli maker of 3D printers that can make multilayer printed circuit boards (PCBs). The company says it is the first to offer a 3D printer with these capabilities, though larger players in the 3D manufacturing field are also exploring these features.
CFO Yael Sander said revenues were “lower than last year due to the effect of the COVID-19 pandemic,” but better than the company had expected. He went on to say:
“[The company is] focusing our efforts on fulfilling our growth plan, both internal through product development and R&D efforts, as well as through external M&A activities.”
Notably, the company’s research and development expenditures more than doubled year over year. That increase was “primarily from an increase in payroll and related expenses … [and] an increase in materials expenses due to increased R&D efforts.”
Last week, ARK Investment Management CEO Cathy Wood said she was impressed with company management and liked the growth the company had shown in broadening its technology focus. Wood specifically cited the company’s contracts with defense agencies as a strong vote of confidence.
Also today, the company announced its CEO and president would be transitioning to chairman of the board of directors. No replacement has yet been announced.
NNDM stock has seen above-average trading volume today of more than 42.5 million trades, compared to an average daily volume of just under 34 million trades.
On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article.