Nano Dimension (NASDAQ:NNDM) has hit its Q117 target of six printer deliveries to beta site customers. This confirms it is on track to complete the beta testing phase in mid-2017 and to deliver a total of 50 printers during the year, around 35 to commercial customers. We leave estimates and valuation unchanged.
Deliveries during Q117 were to a PCB design bureau in Israel, a medical device company in Tel Aviv, one of the 10 largest PCB manufacturers globally, a smart transportation company, an international company providing solutions to the defence industry and one of the top 10 contract manufacturers globally, which will deploy the DragonFly printer in its innovation centre. These customers will make payments to Nano Dimension on a leasing basis as well as providing valuable feedback to direct further product development.
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