Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Nano Dimension Ltd. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0.46
0.83
5.1
7.07
3.4
9.37
43.6
56.3
57.8
102
Cost of revenue
0.19
1.15
4.37
5.08
2.33
9.37
29.6
30.3
32.9
68.1
Gross profit
-0.15
-0.32
0.73
1.99
1.07
1.12
14.1
26.1
24.9
34.3
Research and development
4.04
10.8
8.62
8.08
9.88
41.7
75.8
65.1
39.6
30.1
Selling, general and administrative
3.82
3.36
3
3.27
20.3
19.6
Selling and marketing
34.3
27.7
35.7
General and administrative
3.82
3.36
3
3.27
20.3
56
46
59.8
Operating expenses
0
0
1.32
Operating income
-172
-129
-89.6
-140
Interest expense
0.14
0.92
0.39
2.28
13.2
0.43
79.5
0.37
0.67
0.11
Interest income
0.18
0.1
0.05
8.77
0.45
17.9
23
70.9
43.5
Pre-tax income
-8.35
-48.5
-206
-228
-57
-99.5
-108
Income tax
-4.91
0.26
0.06
0.4
-7.2
Income from continuing operations
-57.1
-99.9
-100
Net income to minority interests
-0.87
-1.11
-1.03
-0.32
Net income
-8.98
-17.5
-15.5
-8.35
-48.5
0.05
-227
-56
-98.8
-293
EBITDA
-127
-87
-120
EPS, basic
-11.36
-16.01
-8.78
-2.49
-1.18
-0.85
-0.92
-0.23
-0.45
-1.36
EPS, diluted
-11.36
-16.01
-8.78
-2.49
-1.18
-0.87
-0.92
-0.23
-0.45
-1.36
Shares, basic (weighted)
0.25
0.22
0.22
Shares, diluted (weighted)
0.25
0.22
0.22
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
12.4
6.1
3.75
3.89
585
854
686
310
317
205
Short-term investments
115
138
86.2
Receivables
9.14
26
Inventory
2.34
3.12
3.54
3.31
11.2
19.4
18.4
16.9
32.9
Other current assets
4.79
8.94
Total current assets
13.3
9.22
8.77
9.85
676
1,312
1,064
894
789
526
Property, plant and equipment
2.01
5.17
5.2
4.74
5.09
7.69
5.84
16.7
14.1
24.8
Lease right-of-use assets
2.67
3.17
4.49
16.5
12.1
9.96
23.8
Goodwill
0
40.4
Intangible assets
6.79
6.76
5.98
5.21
4.44
2.24
2.16
19.4
Long-term investments
86.2
0
Total assets
22.2
21.5
20.3
22.9
689
1,390
1,203
1,064
903
638
Accounts payable
4.25
12
Accrued liabilities
18.8
19.5
Deferred revenue
3.52
11.9
Short-term debt
0.04
0.14
Total current liabilities
1.97
2.2
3.59
4.43
6.69
32
37
34.5
30.1
52.5
Lease liabilities
2.09
2.62
3.34
12.4
8.74
6.71
23.3
Total liabilities
2.92
3.33
4.73
11.3
22.1
45.7
53.2
48.6
41.8
86.2
Paid-in capital
48.8
1,296
1,300
1,297
1,297
Retained earnings
-591
-687
Treasury stock
-168
-193
Other comprehensive income
-1.14
1.05
Shareholders' equity
667
1,343
1,150
1,015
860
552
Minority interests
0.88
0.77
1.01
0.72
Total equity
19.3
18.2
15.6
11.6
667
1,344
1,153
1,019
861
552
Total liabilities and equity
22.2
21.5
20.3
22.9
689
1,390
1,203
1,064
903
638
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-8.98
-17.5
-15.5
-8.35
-48.5
-201
-228
-57.1
-99.9
-294
Depreciation and amortization
0.01
0.19
0.21
0.22
1.97
2.64
20.5
Stock-based compensation
22.1
15.7
5.86
Deferred income tax
-0.01
0
-7.25
Change in inventory
-0.34
0.39
5.6
Cash from operations
-9.65
-42.6
-92.1
-68.7
-18.9
-70.3
Capital expenditures
-1.13
-3.51
-1.32
-0.6
-1.36
-9.76
-9.39
-9.1
-2.2
-1.06
Acquisitions
0
0
-268
Cash from investing
-4.56
-3.69
-1.23
-0.64
-86.8
-497
-67.7
-199
97.6
1.4
Debt repaid
-0.81
-0.41
-0.54
-0.18
-0.15
Stock issued
833
Share buybacks
-96.4
-69.8
Cash from financing
14.2
13.1
12.5
13.4
678
804
-5.27
-110
-69.7
-25
Exchange rate effect
0.03
0.1
-0.15
0.03
0.13
3.37
-3.26
1.29
-1
3.25
Net change in cash
3.68
-6.38
-2.2
0.12
581
265
-165
-377
8.96
-115
Free cash flow
-11
-52.4
-101
-77.8
-21.1
-71.3
Income taxes paid
0.14
0.31
0.12
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $1.57 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
33.5%
Gross profit / revenue.
Operating margin
-137.0%
Operating income / revenue.
EBITDA margin
-117.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-105.0%
Pre-tax income / revenue.
Net margin
-286.3%
Net income / revenue.
FCF margin
-69.6%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-68.6%
Cash from operations / revenue.
Return on equity (ROE)
-41.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-38.1%
Net income / average total assets.
Return on invested capital (ROIC)
-24.9%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
29.3%
Research and development expense / revenue.
Stock-based pay / revenue
5.7%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
1.0%
Capital expenditures / revenue.
D&A / revenue
20.0%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
77.3%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
32.9%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
97.6%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
38.0%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
34.7%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
100.3%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-35.8%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-21.7%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
-3.7%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-29.3%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-19.1%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-1.5%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
-1.2%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
10.0x
Current assets / current liabilities.
Quick ratio
4.40x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
3.90x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$1.36
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-$1.36
Net income per basic share, as reported (split-adjusted).
Revenue per share
$474.81
Revenue / diluted weighted shares.
FCF per share
-$330.63
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$325.70
Cash from operations / diluted weighted shares.
Book value per share
$2,559.00
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
3.23x
Market cap / revenue.
P/B
0.60x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.67x
Market cap / tangible book value, when positive.
EV/Sales
1.23x
Enterprise value / revenue.
FCF yield
-21.5%
Free cash flow / market cap.
Earnings yield
-88.6%
Net income / market cap (the inverse of P/E).
What was Nano Dimension Ltd.'s revenue in fiscal 2025?
Nano Dimension Ltd. reported revenue of $102.4M for fiscal 2025, 77.3% higher than the year before.
Was Nano Dimension Ltd. profitable in fiscal 2025?
No. It reported a net loss of $293.3M.
How much free cash flow did Nano Dimension Ltd. generate in fiscal 2025?
Cash from operations of $70.3M minus capital expenditures of $1.1M left free cash flow of -$71.3M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.