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Nano Dimension Ltd.

For the period ended Dec 31, 2025. Filed Mar 31, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 31, 2026

NNDM$1.32+5.2%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

For the fiscal year ended December 31,2025

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO

Commission File No.:001-37600

(Exact name of registrant as specified in its charter)

State of Israel52-0029109
(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)
60 Tower Road Waltham, MA02451
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (866)496-1805

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
American Depositary Shares each representing one Ordinary Share par value NIS 5.00 per share (1) Ordinary Shares, par value NIS 5.00 per share (2)NNDMThe Nasdaq Stock Market LLC
Rights to Purchase American Depositary Shares, each American Depositary Share representing one Ordinary Share, par value NIS 5.00 per shareNNDMThe Nasdaq Stock Market LLC

(1)

Evidenced by American Depositary Receipts.

(2)

Not for trading, but only in connection with the listing of the American Depositary Shares.

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ☐No ☒

Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. YES ☐No ☒

Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ NO ☐

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☒ NO ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☐Accelerated filer☒
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES ☐No ☒

Based on the closing price as reported on the Nasdaq Capital Market, the aggregate market value of the Registrant’s voting and non-voting common equity held by non-affiliates on June 30, 2025 (the last business day of the Registrant’s most recently completed second fiscal quarter) was approximately $353.3 million. Ordinary Shares held by each executive officer and director and by each shareholder affiliated with a director or an executive officer have been excluded from this calculation because such persons may be deemed to be affiliates. This determination of affiliate status is not necessarily a conclusive determination for other purposes.

The number of shares of Registrant’s Ordinary Shares outstanding as of March 20, 2026 was 207,986,287.

TABLE OF CONTENTS

INTRODUCTION1
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS2
PART I
ITEM 1.Business.3
ITEM 1A.Risk Factors.12
ITEM 1B.Unresolved Staff Comments.29
ITEM 1C.Cybersecurity.29
ITEM 2.Properties.30
ITEM 3.Legal Proceedings.31
ITEM 4.Mine Safety Disclosures.32
PART II
ITEM 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.32
ITEM 6.Reserved.33
ITEM 7Management’s Discussion and Analysis of Financial Condition and Results of Operations.33
ITEM 7A.Quantitative and Qualitative Disclosures About Market Risk.45
ITEM 8.Financial Statements and Supplementary Data.46
ITEM 9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.46
ITEM 9A.Controls and Procedures.46
ITEM 9B.Other Information.47
ITEM 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.47
PART III
ITEM 10.Directors, Executive Officers and Corporate Governance.48
ITEM 11.Executive Compensation.54
ITEM 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.64
ITEM 13.Certain Relationships and Related Transactions, and Director Independence.66
ITEM 14.Principal Accountant Fees and Services.67
PART IV
ITEM 15.Exhibits, Financial Statement Schedules.68

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