{
  "docId": "019de075-6302-7649-af0a-83143be3ea10",
  "docSlug": "5a0f5cffac7e1faa3115ab1b0e7e1bbb",
  "documentTitle": "Nano Dimension | Mergers and Acquisitions Presentation Deck | 36 slides",
  "authorId": "nano-dimension",
  "authorName": "Nano Dimension",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2023-07-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 20,
  "pageCount": 36,
  "prevPage": 19,
  "nextPage": 21,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 24,
  "notes": "Uses a combination of stacked bar charts for revenue and side-by-side bar charts for net income to highlight the disparity in performance.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de075-6302-7649-af0a-83143be3ea10/20",
  "deckHref": "/decks/019de075-6302-7649-af0a-83143be3ea10",
  "deckJsonHref": "/decks/019de075-6302-7649-af0a-83143be3ea10.json",
  "deckAnchorHref": "/decks/019de075-6302-7649-af0a-83143be3ea10#slide-20",
  "components": [
    {
      "bbox": {
        "h": 0.1,
        "w": 0.9,
        "x": 0.05,
        "y": 0.85
      },
      "kind": "callout",
      "text": "Highly dilutive to Stratasys ownership; Dilutive to EPS – doubling from ($1.24) to ($2.44); Cash burning",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d5905a19-d9c7-4fd1-b638-76572d63b26d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.3,
        "x": 0.65,
        "y": 0.3
      },
      "kind": "chart",
      "text": "Combined Non-GAAP Net Income",
      "attrs": null,
      "subkind": "bar-grouped",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c7731469-b9a2-4a8a-b2db-98fcbbea2541",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.3,
        "x": 0.3,
        "y": 0.3
      },
      "kind": "chart",
      "text": "Combined Revenue",
      "attrs": null,
      "subkind": "bar-stacked",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "864fe60b-c67e-40c9-a0b1-ce2ff3b93c79",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.25,
        "x": 0.03,
        "y": 0.35
      },
      "kind": "list",
      "text": "Desktop Metal has only 22% of revenue of the combined company; Desktop Metal generates an annualized GROSS LOSS of ($5mm); Desktop Metal generates an annualized negative adjusted EBITDA of ($156mm); Desktop Metal is burning cash vs. Stratasys has cash",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3da71894-8bb1-4e3d-a88c-a1591dd3869f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.5,
        "x": 0.05,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: Desktop Metal and Stratasys SEC filings, Desktop Metal and Stratasys press releases, FactSet and Consensus Estimates. Note: (1) Cash Flow from Operations less Capital Expenditures; (2) Represents Q1 2023 annualized financials",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4dd79032-364d-4798-935d-228b8d69a489",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.7,
        "x": 0.15,
        "y": 0.16
      },
      "kind": "title",
      "text": "Transaction leaves Stratasys shareholders with just ~60% ownership of combined company",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "28325982-f1a4-4258-8fc1-a0ff94369589",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.9,
        "x": 0.05,
        "y": 0.05
      },
      "kind": "title",
      "text": "Paying a Premium for Dilutive, Smaller Desktop Metal With ~$200m Revenue and ~$200m(1) Cash Loss in 2022 Just Doesn't Add Up",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c1515e39-5cfb-46e1-a3c3-00fae1ae6a78",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "59f19591-5f8f-4163-8acc-0d13f5d24121",
      "evidence": "The slide explicitly contrasts the high premium paid against the poor financial performance and cash burn of the target company.",
      "confidence": 0.85
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}