What Are The Second Quarter 2020 Financial Results Of Nano Dimension?
Nano Dimension Ltd is one of the Israel-based additive electronics providers active in the technology sector. This is 3D printing technology for printed electronics. This NASDAQ: NNDM at https://www.webull.com/quote/nasdaq-nndm company is targeting the growing demand for electronic devices. These are required sophisticated features and rely on encapsulated such as sensors, antennas, and printed circuit boards (PCBs). The Company’s PCB Jet printer system is an inkjet deposition tool for printing multi-layer circuit boards at home or office. It is used for hardware, software, print-head management, and nano-chemistry for Research and Development (R&D), prototyping, and custom manufacturing projects. This company is targeting a range of industry sectors. These are including consumer electronics, medical devices & defense, aerospace, automotive, Internet, and telecom.
Second Quarter 2020 Financial Results
Nano Dimension USA HQ — Nano Dimension Ltd. (NASDAQ: NNDM) is one of the leading Additively Manufactured Electronics (AME)/PE (Printed Electronics) provider, today they are announced financial results for the second quarter ended June 30, 2020. There are the following financial results:
- Total revenues for the second quarter of 2020 were $288,000, compared to $702,000 in the first quarter of 2020, and $1,161,000 in the second quarter of 2019. Research and development (R&D) expenses for the second quarter of 2020 were $1,895,000, compared to $1,702,000 in the first quarter of 2020, and $2,322,000 in the second quarter of 2019.
- The increase compared to the first quarter of 2020 is attributed to an increase in payroll and related expenses, as the Company is temporarily mobilizing resources from marketing and sales to product enhancements. The decrease compared to the second quarter of 2019 is mainly attributed to payroll, related expenses, and materials expenses.
- Sales and marketing (S&M) expenses for the second quarter of 2020 were $930,000, compared to $819,000 in the first quarter of 2020, and $1,507,000 in the second quarter of 2019. The increase compared to the first quarter of 2020 is attributed to an increase in payroll and related expenses, before the eruption of the Covid-19 pandemic.
- General and administrative (G&A) expenses for the second quarter of 2020 were $908,000, compared to $1,035,000 in the first quarter of 2020, and $1,023,000 in the second quarter of 2019.
- The increase compared to both the first quarter of 2020 and the second quarter of 2019 is mainly attributed to finance expenses of approximately $4,322,000. It was recognized in the second quarter of 2020, as a result of the change in the fair value of warrants, which are non-cash expenses. You can check more stocks like nysearca uvxy at https://www.webull.com/quote/nysearca-uvxy before investing.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.