Nano Dimension Ltd NNDM CEO Yoav Stern on Q2 2021 Results   Earnings Call (nndm)
Date: NaT

Nano Dimension Ltd (NASDAQ:NNDM) Q2 2021 Earnings Conference Call August 18, 2021 9:00 AM ET

Company Participants

Yoav Stern - CEO and Chairman

Yael Sandler - CFO

Conference Call Participants

Operator

Ladies and gentlemen, thank you for standing by. All participants are at present in listen-only mode. Welcome to today's conference call to discuss Nano Dimension's Second Quarter 2021 Financial Results. On the call with us today are Yoav Stern, CEO and Chairman; and Yael Sandler, CFO.

Before we begin, may I remind our listeners that certain information provided on this call may contain forward-looking statements. And the Safe Harbor statement outlined in today's earnings press release also pertains to this call. If you have not received a copy of the press release, please view it in the Investor Relations section of the company's Web site. Yoav will begin the call with a business update, followed by a question-and-answer session, at which time Yael will answer questions regarding the second quarter 2021 financial results. As a reminder, this conference is being recorded, August 18, 2021.

I will now like to hand over the call to Mr. Yoav Stern. Mr. Stern, would you like to begin?

Yoav Stern

Sure. Thanks, Michelle. Hi, everybody. Welcome to the call, and good morning, I assume North America, good afternoon in Israel and Europe, and good evening in the West -- in the East, where we have shareholders all over. So, I will not refer to the numbers other than in mentioning it. I will basically go along the message to the shareholder which I wrote, which is long. But I recommend to everybody, other than if they are going to listen today, which will be great, to read it very carefully. I incorporated there a lot of information, and read, which is all, by the way, subject, of course, to all the regulations of what can be published and whatnot. So, read the lines, and read between the lines. There's a lot of information there, and it's very, very important.

I will try to summarize it, but I don't want to take too much of your time. The market is opening soon, and it's morning. And I want to let you ask questions, so I will refer the things that are of interest for you. So, I will go along this letter or message to shareholders. Start with mentioning numbers, can't go around without it. Yes, our revenue did grow 68% comparing to the first-half of last year, and our gross margins went up 40% compared to the same period in 2020. But this is not necessarily a comparative indication, A, because 2020 was a very weird year with the corona, and the numbers there were low.

And even if it wasn't, 68% growth in revenue and 40%, so numbers that are small and not impressive enough, at least not for me. I am not impressed, I am looking for exponential growth, which I see happening. So, this quarter was good or this half was good. Better do it this way than go the other direction, better go up 70% and 40% rather than down or flat; not the focus. The focus is what are we doing beyond or under the numbers that you are, our loyal shareholders, should know, understand hopefully, and support, because what we are busy doing right now is spending a lot of money, not on ourselves, which means none of the management here, as I told you last few times I spoke, got any bonuses for raising that money or for performing along line those goals we had set in the last year-and-a-half.

But we did have, and we do have $1.4 billion, which we are now spending, and trying to accelerate it, because our success in moving forward fast and creating value is based on how smart we're spending, and we will be spending that money. And that's what one should be seeing in the numbers. Of course, the numbers of spending the dollars is only an indication, it depends how you're spending and what you're spending it on. And I can tell you that most of what we're spending it on is in two directions. One, and first of all, is in R&D and product development. We increased our manpower by 100% in the last six to eight months, from 70 people to 130 people. And the second thing we spend is in go-to-market, which we are building toward the phasing out of the corona, which is not phasing out.
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