On the heels of Nano Dimension’s earnings report for the third quarter of 2018, CEO Amit Dror reflects on the recent developments and how we’re charting a path towards long-term success with our groundbreaking additive manufacturing technology for printed electronics.
The past three months have been a whirlwind of exciting activities and breakthroughs for Nano Dimension. From the successful expansion of our sales channels, customers highlighting the unique applications being addressed with our technology to new partnerships and opportunities, we are highly encouraged by what we’ve been able to achieve. As a result, we expect to continue revenue growth and are confident of our ability to expand our addressable market in precision additive manufacturing over the next few years.
Here are my key insights and observations:
1. Successful Market Penetration & Education
Our figures speak for themselves. We have almost doubled our number of channel partners since the start of 2018 and the latest additions of three top tier resellers in the U.S. has allowed us to cover all major markets in the United States. In addition, our engagement with new partners in Asia-Pacific, has allowed us to dive deep into new markets.
As a result, we have enjoyed our best quarter yet in terms of revenue earned and units of DragonFly Pro systems sold, with sequential growth rates of above 50% more than of the previous quarter.
In terms of market education, by participating in 11 tradeshows and conferences in the last quarter alone, not only have we etched our brand name in key markets in Europe, APAC and the United States, we have also strengthened our lead generation and prospect acquisition capabilities.
2. Increased Sales to the Defense Sector
In the United States, we achieved our Certified Vendor status for Commercial and Government Entity Code (CAGE Code) last quarter and that has allowed us to rapidly increase sales of the DragonFly Pro platform to several agencies and departments within the Defense sector.
Our status as first mover in additive electronics in this field has allowed us to increase our penetration in this key vertical. With the current trend, we anticipate several additional sales within the Defense sector in the coming periods.
3. New Case Studies Showing Wide Applicability of DragonFly Pro System
On the applications front, our groundbreaking DragonFly Pro system for precision additive manufacturing of printed electronics has more than proven itself to be a capable and flexible platform for addressing electronics challenges this quarter. Numerous new applications have been uncovered by our partners and customers – from Phytec using it to rapidly rectify design errors to Harris Corp’s validation that a 3D printed RF amplifier showed similar performance to a control amplifier manufactured with conventional subtractive processes.
4. Next Steps
Nano Dimension has enjoyed sustained growth since the commercial launch of the DragonFly Pro system late last year. Moving ahead, we will continue to grow our reseller network, refine our processes and increase our production capacity to meet anticipated growth in sales. With our expanded knowledge base on how the DragonFly Pro can be best leveraged, it is imperative for us to provide better application knowledge to our customers, to bring the revolution in manufacturing of electronics to the fast lane.
Exciting times ahead.
Interested in knowing more about our Q3 2018 earnings? Download the call webcast from our Investors Page below.