Nano Dimension: First Commercial Sale Inaugurates Roll-out
Edison | Nov 30, 2017 06:16AM ET
Q317 marked Nano Dimension’s (NASDAQ:NNDM) first sale of a commercial-grade printer, the DragonFly Pro, which was to global manufacturing services giant, Jabil. In general, however, the sales cycle is proving much longer than management originally anticipated, so we are revising our estimates downwards to reflect a more cautious commercial roll-out and cutting our indicative valuation from US$7.04/ADS to US$6.39/ADS.
First commercial sales received
In early Q317 Nano Dimension announced that it had gained sufficient information from the beta phase to move to commercialisation. The feedback from the beta phase has been used to define a professional-grade version, which debuted at events in the US and Europe in November. Jabil Inc. and the University of Technology, Sydney, will be the first commercial customers. Nano Dimension has prepared the infrastructure for supporting commercial roll-out later this quarter by opening its nanoparticle ink production facility in October and expanding its distribution network in Australia, Canada, France and Italy.
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