Nano Dimension Ltd. reported fourth‑quarter 2025 revenue of $35.3 million, a 142.4% year‑over‑year increase that exceeded the company’s own guidance of $31.5 million to $33.5 million. The surge was driven largely by the integration of the Markforged acquisition, which contributed $20.7 million to the quarter’s top line and accounted for 58.6% of Q4 revenue.
Full‑year 2025 revenue reached $102.4 million, up 77.3% from $57.8 million in 2024. Markforged’s contribution to the annual figure was $54.3 million, underscoring the acquisition’s role in expanding Nano Dimension’s product portfolio and customer base across defense, aerospace, automotive, and electronics markets.
Adjusted EBITDA for Q4 2025 was a loss of $9.8 million, a 52% improvement over the $19.5 million loss reported in Q4 2024. The company’s adjusted gross margin rose to 49.7% from 36.3% year‑over‑year, reflecting a more favorable product mix and cost efficiencies. Cash and equivalents stood at $459.6 million as of December 31 2025, providing a strong liquidity cushion for ongoing investments and potential strategic initiatives.
For 2026, Nano Dimension raised its revenue guidance to $130 million–$140 million, up from the previous $120 million–$130 million range. The company also projected a non‑GAAP gross margin of 46%–48% and an adjusted EBITDA loss of $40 million–$50 million, signaling confidence in continued top‑line growth while acknowledging the need for further margin improvement.
The company’s management highlighted that the revenue beat and margin expansion are attributable to robust demand in core segments and disciplined cost management. However, it cautioned that GAAP net losses remain significant and that macroeconomic uncertainties could impact future performance.
Nano Dimension disclosed a material weakness in internal control over financial reporting related to the accounting for acquisitions. The company stated it does not anticipate restating prior financial statements and is taking corrective actions to strengthen controls.
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