WALTHAM, Mass. - Nano Dimension Ltd . (NASDAQ:NNDM), a provider of additive manufacturing and 3D printing solutions, announced today that Ambassador Georgette Mosbacher has been appointed to its Board of Directors. Mosbacher, a seasoned leader with a background spanning business, diplomacy, and politics, brings a diverse set of skills to the company known for its Additively Manufactured Electronics (AME) and multi-dimensional printing technologies.
Mosbacher's career includes roles as Chairman and CEO of Borghese Inc., owner and CEO of La Prairie Group AG, and U.S. Ambassador to Poland from 2016 to 2020. Her experience is expected to enhance Nano Dimension's strategic direction as the company seeks to expand its international footprint in digital manufacturing.
The addition of Mosbacher to the board is part of Nano Dimension's ongoing efforts to incorporate diverse and global perspectives into its governance. Dr. Yoav Nissan-Cohen, Chairman of the Board, and Yoav Stern, CEO and member of the Board, expressed confidence that Mosbacher's unique background would be beneficial for shareholders and the company's international business development.
Nano Dimension's portfolio includes machines for the production of high-performance electronic devices and additive manufacturing solutions for metal, ceramic, and specialty polymers applications. The company has served over 2,000 customers across various industries, including aerospace, defense, automotive, and medical technology.
Ambassador Mosbacher expressed enthusiasm for joining Nano Dimension's board, highlighting the company's potential to revolutionize the manufacturing industry with its advanced technologies and promoting sophisticated global workforces.
The appointment is based on a press release statement.
In other recent news, Nano Dimension reported a robust performance for Q1 2024. The additive manufacturing company's reshaping initiative led to a significant 36% increase in gross margins and a substantial reduction in operating expenses. The company also successfully reduced its quarterly cash burn from $27 million to $7 million and acquired new customers in the defense and advanced electronics sectors.
CEO Yoav Stern outlined strategic plans, including a breakeven target by the second half of 2025 and the ongoing share buyback program. Despite some weaknesses in the German market, the company sees strong demand in the defense sector and plans to further reduce costs and make strategic asset allocation decisions.
InvestingPro Insights
As Nano Dimension Ltd. (NASDAQ:NNDM) continues to strengthen its board and strategic direction, recent data from InvestingPro provides additional context to the company's financial health and market position. With a market capitalization of 577.77 million USD, the company is navigating the industry with a notable cash position relative to its debt, as highlighted by one of the InvestingPro Tips, which points out that the company holds more cash than debt on its balance, signaling a potentially strong liquidity position.
Another tip suggests that Nano Dimension's management has been aggressively buying back shares, a move that can reflect confidence in the company's future prospects and a commitment to enhancing shareholder value. This is coupled with a high shareholder yield, which could be of interest to investors looking for companies with a proactive approach to capital allocation.
In terms of valuation, Nano Dimension is trading at a low Price / Book multiple of 0.57, based on the last twelve months as of Q4 2023. While the company has not been profitable over the last twelve months and is quickly burning through cash, analysts predict that the company will be profitable this year, which could indicate a turning point for its financial performance.
Investors may also want to consider the company's recent stock price volatility, and the fact that the stock price has performed poorly over the last decade, as per the InvestingPro Tips. For those interested in exploring further insights and tips, InvestingPro offers additional guidance, with a total of 12 tips available for Nano Dimension, which can be accessed through the dedicated page at https://www.investing.com/pro/NNDM. To get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, use the coupon code PRONEWS24.
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