Nano Dimension Ltd. (NASDAQ:NNDM) Q4 2022 Earnings Call Transcript

Well, we are actually always merging the two R&D teams because the technologies are very similar and complementing each other. Another example, of course, is the technology we purchased 2.5 years ago, Deep Learning. The Deep Learning is going into almost all our machines in order to improve the performance of the machine in as much as throughput and yield. Now, we are speaking about even using it for predictive maintenance, the artificial intelligence and you can take it across the board in both additive manufacturing, additive electronics and additive manufacturing electronics, the Deep Learning, DeepCube technology is now going into each one of the product lines. Last but not least, the impairment?

Yael Sandler: Yes. Thank you. So, regarding the impairment, because as of the end of the year, our market cap compared to our book value of the assets less the liabilities, there was a difference there, obviously, because our market cap was lower. And because we have intangibles on our book, we needed to check for impairment for the intangibles. So, we did the impairment test is not based on a specific value of any acquisition that we did. It is placed on the total company as a combined. And because of this difference, basically, we had no choice, but to do the impairment. So, we wrote down approximately $40 million, some intangibles and also some fixed assets. So, it’s important to note that it’s not related to any specific acquisitions or it’s not any indication that the goodwill or technology from any specific acquisition is not good, quite the opposite. It’s a very technically accounting issue. I hope it answers your question, Anne.

Anne Margaret Crow: Yes, it does. Thank you very much.

Yoav Stern: Next question please.

Operator: Next question will be from Eric Weiss , private investor. Go ahead Mr. Weiss. Alright. He is no longer on the line with us. Next question will be Eric Marcus, private investor. Please go ahead sir.

Eric Marcus: Thank you very much. Can you hear me?

Yoav Stern: Yes, please.

Eric Marcus: Okay. First, Mr. Stern, thank you very much for taking our questions and thank you for your presentation. In your recent videos and communications, you have said that you believe that the direction that you are taking the company represents the majority of shareholders. As a shareholder who respectfully disagrees with that assessment, I am asking, why will you not call a shareholders’ meeting and put your chairmanship through a vote of confidence, letting those of us who own the company weigh in? Thank you.

Yoav Stern: First of all, I didn’t say that I believe I present the majority of the shareholders. I only said that I propose to the shareholders what I think is the right direction. Secondly, in the next shareholders meeting, the shareholders can make a decision and vote me down, and I will leave the Board or leave the company or whatever the shareholders. I work for the shareholders. So, no problem, I agree with you.

Eric Marcus: When will that shareholders meeting be held to have that vote?

Yoav Stern: As we usually have a shareholders meeting after we published the F €˜20 €“ we have annual shareholders a couple of months later once we finish preparing all the paperwork. So, I don’t expect more than a couple of months from now. As we look at the time we did it last year, we will do it this year again and you will be more than welcome to vote me out. And if most of you will, then I will step down. It’s not a problem at all.

Eric Marcus: Thank you.

Operator: Thank you. Our next question will be from Ram Reddy , private investor. Please go ahead.

Unidentified Analyst: Hello.

Yoav Stern: Yes. Please, Ram.

Unidentified Analyst: Yes. I have a couple of questions. The first one is, last year, you said you are going to get analyst coverage within the next couple of quarters. It’s more than a year. I don’t see any analyst coverage. Second one is, what was the interest you had in the last quarter, Q4 up to 2022 and how much interest you are expecting for this 2023?