The increase is attributed to increased sales of the Company's product lines.

"We delivered significant revenue growth in the first quarter of 2023, with the third record-setting quarter in a row, defined by exceptional performance and steady quarterly organic growth since July 2022," said CEO Yoav Stern. 

Adjusted gross profit jumped 68.5% to $7.05 million. Operating loss in the quarter under review totaled $31.20 million, narrower than the operating loss of $32.92 million in the year-ago period.

Net income for Q1 was $22.22 million, compared to a net loss of $33.09 million a year ago.

Nano Dimension exited the quarter with cash and equivalents worth $788.14 million. 

"We intend to accelerate our M&A strategy by carefully investing in assets that will create return on investment and value expansion for our shareholders, contrary to unprofitability which is still a common denominator for many players in the AM industry," Stern added.

Price Action: NNDM shares are trading higher by 12.40% to $2.71 on the last check Thursday.