Xometry Reports First Quarter 2024 Results

Conference Call and Webcast Information
The Company will host a conference call and webcast to discuss the results at 8:30 a.m. ET (5:30 a.m. PT) on May 9, 2024. In addition to its press release announcing its first quarter 2024 financial results, Xometry will release an earnings presentation, which will be available on its investor website at investors.xometry.com.

Xometry, Inc. First Quarter 2024 Earnings Presentation and Conference Call

  • Thursday, May 9, 2024
  • 8:30 a.m. Eastern / 5:30 a.m. Pacific
  • Please dial (888) 596-4144 (US/CAN) or (646) 968-2525 (International) to listen to the call
  • To register please use the following Conference ID 2007915
  • To access the webcast use the following link: https://edge.media-server.com/mmc/p/wexbrys4/
  • You may also visit the Xometry Investor Relations Homepage at investors.xometry.com to listen to a live webcast of the call

Cautionary Information Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “would,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements in this press release include, but are not limited to, our beliefs regarding our financial position and operating performance, including our outlook and guidance for the second quarter and full year of 2024, our expectations regarding our full year marketplace and supplier services revenue; and statements regarding our strategy, products and platform capabilities. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks and uncertainties related to: competition, managing our growth, financial performance, our ability to forecast our performance due to our limited operating history, investments in new products or offerings, our ability to attract buyers and sellers to our marketplace, legal proceedings and regulatory matters and developments, any future changes to our business or our financial or operating model, our brand and reputation, and the impact of fluctuations in general macroeconomic conditions, such as fluctuations in inflation and rising interest rates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties that could cause actual results to differ from the results predicted, including those more fully described in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2023, our Quarterly Reports on Form 10-Q, and other filings and reports that we may file from time to time with the SEC. All forward-looking statements in this press release are based on information available to Xometry and assumptions and beliefs as of the date hereof, and we disclaim any obligation to update any forward-looking statements, except as required by law. 

Investor Contact: Media Contact:
Shawn Milne
VP Investor Relations
240-335-8132
shawn.milne@xometry.com
Matthew Hutchison
Corporate Communications for Xometry
415-583-2119
matthew.hutchison@xometry.com
  


Xometry, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share and per share data)
(Unaudited)
 
  March 31,   December 31, 
  2024   2023 
Assets     
Current assets:     
Cash and cash equivalents$45,701  $53,424 
Marketable securities 208,078   215,352 
Accounts receivable, less allowance for credit losses of $2.4 million and $2.4 million as of March 31, 2024 and December 31, 2023 69,324   70,102 
Inventory 2,890   2,885  
Prepaid expenses   5,998       5,571  
Other current assets   9,366       8,897  
Total current assets   341,357       356,231  
Property and equipment, net   37,579       35,637  
Operating lease right-of-use assets   11,152       12,251  
Investment in unconsolidated joint venture   4,211       4,114  
Intangible assets, net   34,856       35,768  
Goodwill   262,827       262,915  
Other assets   489       471  
Total assets $ 692,471     $ 707,387  
Liabilities and stockholders’ equity          
Current liabilities:          
Accounts payable $ 13,989     $ 24,710  
Accrued expenses   46,193       41,845  
Contract liabilities   9,613       7,357  
Income taxes payable   2,208       2,484  
Operating lease liabilities, current portion   6,731       6,799  
Total current liabilities   78,734       83,195  
Convertible notes   282,234       281,769  
Operating lease liabilities, net of current portion   9,345       10,951  
Deferred income taxes   275       275  
Other liabilities   288       778  
Total liabilities   370,876       376,968  
Commitments and contingencies          
Stockholders’ equity          
Preferred stock, $0.000001 par value. Authorized; 50,000,000 shares; zero shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively          
Class A Common stock, $0.000001 par value. Authorized; 750,000,000 shares; 46,010,987 shares and 45,489,379 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively          
Class B Common stock, $0.000001 par value. Authorized; 5,000,000 shares; 2,676,154 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively          
Additional paid-in capital   656,554       648,317  
Accumulated other comprehensive income   381       855  
Accumulated deficit   (336,488 )     (319,872 )
Total stockholders’ equity   320,447       329,300  
Noncontrolling interest   1,148       1,119  
Total equity   321,595       330,419  
Total liabilities and stockholders’ equity $ 692,471     $ 707,387  
           



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