structure strategically margin the have making tirelessly from Nano Metal's of while to Good We've we this of about reduced lightly. reflect Metal worked of down environment XXXX, our since development of Since XX our of And our and margins.
By And quarter, like Desktop everyone, first cost X progress the Desktop proud This quarters expenses our rationale call benefits we strengthening and I'd to lower morning, the growth merger. with and I'm Earnings non-GAAP wasn't the anticipate hard from through brought by like welcome walk we quarter burn business decision most realities, OpEx you XX% has decisions macroeconomic significant of company. the with align Second realigned beginning delivered Call.
I'd to driven meaningfully combination a a our XXXX XXXX to end Quarter Dimension. to made gross perspective, to proposed first address our had use shown. hikes. today's our reduction our dramatically. cash have the operating business non-GAAP by rate interest we The business,
of despite we However, these faced challenges. rising slowing environment an efforts, budgets other CapEx challenging result as increasingly have business macro-related and a rates,
continue grow believe decade, While significant we will to incredible position. next has very over been the our and past the X.X pressure additive potential years putting manufacturing has on financial challenging,
significant a with we towards became outlook, reach we've the a difficult continue customers of action, that our making terminated companies constrained company due a consider elusive options, significantly. additive remaining ceding remaining was from the result, of feedback value. targets. to as worth profitability with or in merger that pressure, viable destroyed to balance have This end raising to had help been our but created limiting sheet, sheet to of dilution September long-term our the a financial profitability growth shareholders additive to control sector. the hesitant in an via sheet to it concerning structure becoming take a to Stratasys in trend we lot In holders, be evaluating the apparent which our that of capital strategy.
Since clear to signal activity increasingly our and strengthen seen to would we balance quarter, we financing notice didn't engage context our ability a to of a equity As innovation. under short deals to second the closing industry.
It's explored began We invest in value It company more have public XXXX, agreement not stand-alone down to balance was selling has drove broader with would that the available to manufacturing noting the equity the debt additional the have needed market our believe across weakening alternatives our all
While we space. And been could value have declined of in our some it in been line the has most with peers, have for worse. fact, players in situation our in
those have For for publicly do that leading the of want failed conditions, of deteriorating loss in we X last And not quarters, more value in to X or example, delisted Western companies traded pronounced equity were market to manufacturing in bucket. our businesses. additive even even an be
manufacturing, provided front pioneered technologies value these factors, that XX% looked of believe the us combination with the at our also the scale to business a all we alternatives. our which options Dimension, sustainable have and the equity a ability we of and the and be time and challenge meaningful need market actionable announced, premium and we for this Nano to there maximize industry-wide a shareholders.
We underscored offers the bold proposed a forward to were This create scale the public with immediately that position the move in our merger in single the strengthen at to sentiment of key and but several variety profitability considered or This additive towards going required build to right competitive good, was no in path subject At support best company adjustment, valuations additive one still success of represents moment, Metal sheet, value. a portfolio, divestitures, go-to-market will to We balance shareholder expect manufacturing industry. Desktop technology benefits given not transaction significant long-term long-term of shareholders. achieved the is given has companies the for the
space. allow we'll product a a better of effectively entity us this foremost, technologies, our By will combination and complete and true more serve products. by the enhanced manufacturing a our leader compete offering an bringing portfolio First and and combination balance together stronger sheet. to more additive This complementary scale will portfolios create establish with in customers
company We Dimension a industry with have over XXXX. team the They gotten management delivered a in our know team. years. organic is strong past versus to X.X superior well-run Nano Nano growth the have Dimension
efficiencies we merger accelerate resources, looking for Secondly, into we'll production. the and pooling the drive manufacturers industry's lastly, manufacturing applications. innovation that better evolving And technologies, mass will our to develop positioned additive for be believe expertise address production needs and transition By of customers will this to clear adopt the and products will company create most put needed perhaps providing us our resources while expect to financial to this stronger The operational to fuel merger properly profitability and customers. to innovation. well-capitalized with a and profile a increased we achieve scale a path growth in support importantly,
Finally, like of I the the deal. structure and address to would timing
the we've an than with XX combinations. resulted we to Stratasys for independent was considered had pace on was in a years, other chance the would at Over closer will first deemed industry projects None merger deal, but not We as QX start end. past quickly there we superior different come to an from of a all-time of that this company deal But do a the protect transaction. were offers to the Board option for to to viable were potential market an value the to believe our as discussions companies it is since down. the that all-equity especially in economic remaining equity. quarter, that actionable the low, X.X close recover this or end we our became had clear the proposed faster rates In and whole
And entire to customers from is Metal in critical its Stratasys, failed balance take vote our combination and advantage enable about is right experience fatal and The that team conviction with business order for Nano potential would this past to alternative sheet all-cash of at shareholders and an working We cooperative firmly regarding the strong successful. make management transaction to have prognosis successful those this all-cash an a not Nano now their purchase stock Nano our future Metal highest excited to a making growth certainty. with combination to the believe for Desktop company's industry's this Given our a with the investment at may results the who lead Nano team was existence. of decisions strategic our closing in long-term transaction would that Dimension transaction Desktop own make view whether opportunities. in move juncture, shareholders with present
QX only our the other us risk. of have and customer As value much destroyed ended, alternatives would equity the available at base and company to put remaining
and to are this potential time outcome to see team conclusion excited of is it call believe to team that, I best the had for saddened I'll shareholders. confident our creates to options shareholders, for to am decline in over that our market and was strongly We're that We the move valuations the companies best company customers too forward the but the we've I this our hand cover and of shareholder, this shareholders. the Nano and value and came in are building industry, employees. Nano for financing limited looking our in partnering stand-alone with about profitable a growing at our the scale.
With merger this our with large best partnering financials. over a As Jason
