Latest news with #DesktopMetal
Boston Globe
30-07-2025
- Business
- Boston Globe
Burlington 3D printer company goes bankrupt after being acquired
Advertisement Desktop Metal has 780 employees, according to the filing. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up The company also said it planned to sell its German, Italian, and Japanese subsidiaries to investment firm Anzu Partners for $10 million. The money would provide funds for bankruptcy lawyers and for an auction of the remains of the company. If the bankruptcy court does not approve the sale to Anzu, Desktop Metal will 'commence liquidation,' the filing said. The bizarre decision by Nano to cut off funding for its own unit is just the latest challenge for Desktop Metal, which was founded in 2015 with a focus on printing metal parts using technology developed at MIT. The company has been on a financial roller coaster since it Advertisement The 2020 deal allowed Desktop Metal to use its stock to acquire numerous smaller rivals and expand its 3D printing line into new materials such as plastic and ceramics. But continued losses and rising interest rates spooked investors, and the company's stock price plummeted more than 90 percent by mid-2023. Two years ago, Desktop Metal agreed to Then, last July, Israeli 3D printing company Nano Dimension Aaron Pressman can be reached at
Business Upturn
29-07-2025
- Business
- Business Upturn
Nano Dimension Statement Regarding Desktop Metal Bankruptcy and Strategic Decision Not to Acquire Assets
Waltham, Massachusetts, July 28, 2025 (GLOBE NEWSWIRE) — Nano Dimension Ltd. (Nasdaq: NNDM) ('Nano Dimension' or the 'Company'), a leader in Digital Manufacturing solutions, today announced that its subsidiary, Desktop Metal, Inc. ('Desktop Metal'), has filed for bankruptcy protection under Chapter 11 of the Bankruptcy Code. The decision to file for bankruptcy protection was made by Desktop Metal's independent Board of Directors, who conducted a process to explore available strategic alternatives and address Desktop Metal's significant liabilities and liquidity needs stemming from decisions made by its prior management. Ofir Baharav, Nano Dimension's CEO said: 'We are safeguarding our financial strength and preserving our position as the best capitalized company in our ecosystem. This is what enables the Company's to pursue strategic opportunities from a position of maximum strength—and that is exactly what the Company's shareholders should expect from us.' About Nano Dimension Driven by strong trends in onshoring, national security, and increasing product customization, Nano Dimension (Nasdaq: NNDM) delivers advanced Digital Manufacturing technologies to the defense, aerospace, automotive, electronics, and medical devices industries, enabling rapid deployment of high-mix, low-volume production with IP security and sustainable manufacturing practices. For more information, please visit Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding Nano's future growth, strategic plan and value to shareholders, and all other statements other than statements of historical fact that address activities, events or developments that Nano intends, expects, projects, believes or anticipates will or may occur in the future. Such statements are based on management's beliefs and assumptions made based on information currently available to management. These forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Because such statements deal with future events and are based on the current expectations of Nano, they are subject to various risks and uncertainties. The forward-looking statements contained or implied in this communication are subject to other risks and uncertainties, including those discussed under the heading 'Risk Factors' in Nano's annual report on Form 20-F filed with the Securities and Exchange Commission (the 'SEC') on May 12, 2025, and in any subsequent filings with the SEC. Except as otherwise required by law, Nano undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this communication. Investors: ICR – [email protected] Media: [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Bloomberg
28-07-2025
- Business
- Bloomberg
Desktop Metal Files Bankruptcy After Lawyers Demand Unpaid Fees
Desktop Metal Inc., a maker of 3D printers and other machines used in manufacturing, filed bankruptcy just months after new owners were forced by a court to complete a takeover of the company. Desktop Metal will try to sell assets in Europe to pay its debts, including nearly $30 million owed to the law firm that won the case forcing the merger of the company with Nano Dimension. Earlier this year, the law firm Quinn Emanuel Urquhart & Sullivan asked a judge to secure some Desktop Metal assets while a dispute over legal fees related to the merger case went forward.
Yahoo
13-06-2025
- Business
- Yahoo
Nano Dimension Ltd (NNDM) Q1 2025 Earnings Call Highlights: Strategic Moves and Financial ...
Total Revenue: $14.4 million, representing an 8% growth from Q1 2024. Adjusted Gross Margin: 43.8%, down from 49.8% in Q1 2024. Operating Expenses (OpEx): Declined to $14 million from $25.3 million in Q1 2024. Adjusted EBITDA Loss: $9 million, compared to a loss of $13.6 million in Q1 2024. Cash, Cash Equivalents, and Investable Securities: $840 million as of March 31. Annual Operating Expense Savings: Forecasted to save around $20 million due to product discontinuations. Warning! GuruFocus has detected 2 Warning Sign with NNDM. Release Date: June 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Nano Dimension Ltd (NASDAQ:NNDM) reported an 8% revenue growth from Q1 2024, reaching $14.4 million despite macroeconomic challenges. Operational expenses, net of one-time expenses, declined significantly to $14 million in Q1 2025 from $25.3 million in Q1 2024, reflecting effective cost control measures. The company achieved a reduction in adjusted EBITDA loss to $9 million in Q1 2025 from $13.6 million in Q1 2024, indicating improved financial management. Cash, cash equivalents, and investable securities stood at $840 million as of March 31, 2025, providing a strong liquidity position. Strategic decisions, including the discontinuation of non-strategic products, are expected to save around $20 million annually in operating expenses. Adjusted gross margin decreased to 43.8% in Q1 2025 from 49.8% in Q1 2024, impacted by the discontinuation of non-strategic assets. The company did not provide specific guidance on future cost structure or cash burn rates due to ongoing strategic evaluations. The integration of recent acquisitions, such as Markforged and Desktop Metal, remains a complex process with ongoing independent assessments. There is uncertainty surrounding the strategic direction and financial obligations related to the acquisition of Desktop Metal. Despite improvements, the company still reported an adjusted EBITDA loss, indicating ongoing challenges in achieving profitability. Q: Can you provide any details on the strategic overview of Desktop Metal and the responsibility for their convertible? A: Ofir Baharav, CEO: We have previously elaborated on Desktop Metal and the convertible. We are meeting our obligations to Desktop Metal, which is currently managed by an independent management team, financial advisers, and Board. They will make the best decisions for Desktop Metal. Q: Can you provide insights into the cost structure and cash burn rates for the combined business model of Nano Dimension and Markforged over the next 6 to 12 months? A: Assaf Zipori, CFO: We are not providing guidance at this time as we evaluate strategic alternatives for Desktop Metal and work through the integration of Markforged. We are disciplined in managing expenses and cash burn, as reflected in our improved Q1 OpEx. We will continue to control operational expenses and cash. Q: What are the key strategic decisions made recently, and how do they impact the company's operations? A: Julien Lederman, CBO: We have discontinued several products that did not deliver sufficient ROI, saving around $20 million annually. This reflects our ability to make impactful decisions quickly. We are focused on product rationalization and operating model optimization to ensure competitive advantage and high margins. Q: How is Nano Dimension approaching post-merger integration with Markforged? A: Ofir Baharav, CEO: We are focused on product rationalization and operating model optimization. We aim to ensure our solutions have a competitive advantage and deliver ROI. We are reducing expenses, breaking down silos, and creating a flatter organization to innovate and deliver value efficiently. Q: What are the strategic foundations of Markforged that Nano Dimension is building upon? A: Ofir Baharav, CEO: Markforged has a leading software platform, FFF technology adopted on factory floors, and a metal binder jetting solution for high-performance metal parts. We are shifting to strategic sales and reducing operating expenses to enhance these strengths. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-03-2025
- Business
- Yahoo
Why Nano Dimension Stock Was Sinking This Week
3D printing company Nano Dimension (NASDAQ: NNDM) probably can't wait for the weekend to come. Its stock took some significant hits over the past few days in response to a court ruling and management's reaction to it. As a result, the shares were trading down nearly 22% week to date as of early afternoon Friday, according to data compiled by S&P Global Market Intelligence. That judgment was handed down on Monday, and it set the tone for the rest of the week. A Delaware Court of Chancery judge ruled that Nano Dimension was obligated to move forward with its deal to acquire a peer company, Desktop Metal (NYSE: DM). In July, concurrent with the release of its second-quarter 2024 results, Nano Dimension announced it had agreed to buy Desktop Metal for as much as $183 million in cash. However, in what was apparently a case of (would-be) buyer's remorse, Nano Dimension tried to retreat from the arrangement, and not surprisingly, Desktop Metal filed a lawsuit over its conduct regarding the deal. The court's ruling stipulated that Nano Dimension had materially breached the agreement between the two companies, among other findings. The court also ordered it to effectively close the deal by March 31. Two days after the judgment was handed down, Nano Dimension expressed disappointment at the outcome, but pledged to finalize the acquisition in a timely manner. Although resources could have been conserved if the company had effected the deal more properly and smoothly, it's good that the battle is over and a resolution is likely at hand. Investors should now focus on how the combined entity will compete, and whether the two pieces can fuse together well. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $288,966!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $42,440!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $526,737!* Right now, we're issuing 'Double Down' alerts for three incredible companies, and there may not be another chance like this anytime soon.*Stock Advisor returns as of March 24, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Nano Dimension Stock Was Sinking This Week was originally published by The Motley Fool Sign in to access your portfolio
