Nano Dimension Ltd. Revenue Disclosure
Note 11 – Revenue
The Company has one operating and reportable segment, which generates revenue via industrial manufacturing solutions of multi-disciplinary technology - combining hardware, software, and materials science.
Revenue per geographical location is as follows:
|
|
For the year ended December 31, |
|
|||||||||
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
Americas |
|
$ |
44,954 |
|
|
$ |
21,010 |
|
|
$ |
22,340 |
|
APAC |
|
|
16,743 |
|
|
|
3,393 |
|
|
|
2,947 |
|
EMEA |
|
|
40,740 |
|
|
|
33,372 |
|
|
|
31,027 |
|
Total revenue |
|
$ |
102,437 |
|
|
$ |
57,775 |
|
|
$ |
56,314 |
|
The following table disaggregates the Company's revenue by the timing of transfer of products or services:
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For the year ended December 31, |
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|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
Services transferred over time |
|
$ |
22,052 |
|
|
$ |
12,218 |
|
|
$ |
9,083 |
|
Goods transferred at a point in time |
|
|
80,385 |
|
|
|
45,557 |
|
|
|
47,231 |
|
Total revenue |
|
$ |
102,437 |
|
|
$ |
57,775 |
|
|
$ |
56,314 |
|
The table below provides information regarding receivables and contract liabilities deriving from contracts with customers:
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|
For the year ended December 31, |
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|
|
2025 |
|
|
2024 |
|
||
Trade receivables |
|
|
26,047 |
|
|
|
9,141 |
|
Deferred revenue |
|
|
11,873 |
|
|
|
3,523 |
|
Long-term deferred revenue |
|
|
3,617 |
|
|
|
— |
|
The increase in trade receivables and current and long-term contract liabilities in 2025 is primarily due to the acquisition of Markforged.
Contract balances
Timing of revenue recognition may differ from the timing of invoicing to customers. The Company has a right to bill when products are shipped, which is often the point in time revenue is recognized. As a result, the Company will have accounts receivable for billings and also deferred revenue for the portion of billings in advance of service in its hardware maintenance agreements.
The Company recognized $3.5 million of revenue in 2025 from deferred revenue as of December 31, 2024. The Company recognized $3.9 million of revenue in 2024 from deferred revenue as of December 31, 2023.
Deferred revenue is expected to be recognized when the Company provides hardware maintenance services or contractual performance obligations for which the customer has already provided payment with $11.9 million to be recognized in 2026, $2.5 million in 2027, $0.9 million in 2028, and $0.2 million thereafter. These deferred revenues are included within other long-term liabilities on the consolidated balance sheets.
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.