Nano Dimension Ltd (NASDAQ:NNDM) is trading higher Wednesday after the company announced its third-quarter financial results.
Nano Dimension reported a quarterly earnings loss of 7 cents per share, up from a loss of 45 cents per share year-over-year. The company reported quarterly revenue of $1.34 million, up from $438,000 year-over-year.
Nano Dimension ended the third quarter with a cash and deposits balance of $1.385 billion.
"Encouraging as they are, our revenue numbers are still too small in absolute magnitude to derive any meaningful conclusions," said Yoav Stern, chairman and CEO of Nano Dimension.
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Nano Dimension said it plans to focus on synergetic mergers and acquisitions, accelerated research and development and revolution in go-to-market efforts.
The previously stated business development pillars "are planned to converge and are designed to fuel a mutually accelerated scalable growth," Stern said.
Nano Dimension is engaged in research and development of a three-dimensional printer that prints electronic circuit boards, also known as printed circuit boards, and ink materials and products based on nanotechnology.
NNDM Price Action: Nano Dimension has traded as high as $17.89 and as low as $4.45 over a 52-week period.
The stock was up 11.60% at $5.15 at time of publication.