Xometry Reports First Quarter 2024 Results

Key Operating Metrics (2) :

  As of March 31, 
  2024   2023   %
Change
 
         
Active Buyers(3) 58,504   44,451   32%
Percentage of Revenue from Existing Accounts(3) 95%  96%   
Accounts with Last Twelve-Months Spend of at Least $50,000(3) 1,381   1,109   25%
Active Paying Suppliers(3)(4) 7,159   7,621   (6)%
 
(2) These key operating metrics are for Marketplace and Supplier Services. See “Key Terms for our Key Metrics and Non-GAAP Financial Measures” below for definitions of these metrics.
(3) Amounts shown for Active Buyers, Accounts with Last Twelve-Months Spend of at Least $50,000, and Active Paying Suppliers are as of March 31, 2024 and 2023, and Percentage of Revenue from Existing Accounts is presented for the quarters ended March 31, 2024 and 2023.
(4) Excluding the impact of the exit of the tools and materials business, Active Paying Suppliers was down 2% year-over-year.
 

Financial Guidance and Outlook:

  Q2 2024 
  (in millions) 
  Low   High 
Revenue$127  $129 
Adjusted EBITDA$(8) $(6)
        
  • Expect Q2 2024 revenue growth of 14%-16% year-over-year to $127-$129 million.
  • Expect Q2 2024 Adjusted EBITDA loss of $6.0-$8.0 million.
  • Expect fiscal 2024 marketplace revenue growth of at least 20% year-over-year and expect supplier services revenue to be down approximately 10% year-over-year.
  • For fiscal 2024, we expect improved operating leverage as compared to fiscal 2023, partly offset by international and enterprise growth investments.

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