Nano Dimension Ltd. (NNDM) Earnings Call Transcript & Summary

Hi, everybody. Happy Easter, happy Passover, happy Ramadan. It is a beautiful day today in New York in order to speak with you about the results -- early results of the first quarter of 2023. Very, very exciting. We are announcing today a revenue of $14.6 million. And this is the best quarter ever the company had. And this follows a quarter of before, the last quarter of 2022, which was the best quarter the company had ever before as well. So we are moving ahead from quarter-to-quarter, and the exciting news which we knew before and we told you about this time since many of you were asking me this question again, again. So all the revenue growth is organic. Ladies and gentlemen, we didn't do acquisition for the last 3 quarters since I think it was July last year. So everything grew from there organically. And the fact that this is the best quarter ever after best quarter ever, it's obviously organic growth. And the main growth came from the AME field, which is the Additively Manufactured Electronics, which was the original, if you remember, place where we started with DragonFly machine and it's moving forward beautifully, best quarter ever. And the Additive Electronics which we manufacture in Switzerland, which also performed its best quarter ever. This is a company which is when we purchased it 1.5 years ago, it was 20 years old. So it's really a day for celebration. And moving forward, the future looks bright. We build the company very, very fast through acquisitions and through internal growth, and it's continuing. We are, within a year, if this continues, we'll be one of the few largest companies in the manufacturing, digital manufacturing field in our area, including mostly of the private companies, definitely bigger than private companies. And in parallel, of course, we are proceeding with the potential acquisition trail. One area, which is very public now is Stratasys. We intend to continue. We gave them 2 offers in parallel. As they rejected our previous offers, we gave them a last -- best and last offer at $20.05 a share. And if the Board wants to be good for its shareholder, I believe they should recommend. It's a beautiful price. And if they don't want to and if they would not recommend, then we'll offer a partial tender, special tender offer. We are not going to offer it to all the shareholders. We are going to offer it only to about 35%, 40% of the shareholders, and that will be at lesser of a price. So Board has to make a decision here to go one way or another and what is the best thing for Stratasys' shareholder. We believe we know what's the best thing. And in parallel, as I told you before, I can't get into details because we have signed NDA with other companies. We are in the process of at least 4 or 5 other M&As that are by now large. When I say large M&A, out of the 5, 4 is above $100 million. And one is a bit less. And these are not early discussions. We're talking to all 4, 5 these larger companies for the last, I would say, probably half a year, if not more. And part of them are in Europe, part of them in the States. So the Stratasys is definitely not the only choice, and we intend to move on all of them, except that if one of them will happen before the other, obviously, it will affect other transactions. It will happen and not based on our decisions. We can't swallow the whole world. Having said that, just as you know, this is not a buying spree. All the companies who I am talking about are companies that strategically we aimed and it completes our vision to build a digital manufacturing network across different edge devices, be it AM, AME, micro AM, other digital manufacturing machinery and all this to be led by the deep learning engine that we have both in the machine level and in the combination of digitizing the cloud manufacturing. So when I talk about 3 or 4 acquisitions and Stratasys, of course, to start with, all of them fall one way or another into the same concept and same synergy envelope. And as much as I am concerned, I have my preference of what should come next, not the place to tell you necessarily not because it's such a secret, it is because I want to make sure we don't influence unnecessarily. But all of them, if it was up to me and each one of them, I think, have a big added value for both their shareholders and our shareholders. So we're excited about it, and we are pushing forward with Stratasys. And we're going to update you soon about other events and evolution of events in this field. I want to thank you very much and make sure that you all get my blessing for the holidays, the Easter, the Passover, the Ramadan and whatever else. And I look forward to update you, and I'm hearing from you. We have now ongoing correspondence. So I look forward to this communication. Thank you very much.