Xometry Reports First Quarter 2024 Results

Xometry, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
 
  Three Months Ended March 31, 
  2024   2023 
Cash flows from operating activities:     
Net loss$(16,604) $(18,343)
Adjustments to reconcile net loss to net cash used in operating activities:     
Depreciation and amortization 3,153   2,566 
Impairment of assets    27 
Reduction in carrying amount of right-of-use asset 1,096   1,935 
Stock based compensation 6,036   4,694 
Revaluation of contingent consideration 137    
Income from unconsolidated joint venture (97)  (66)
Donation of common stock 343   370 
Loss on sale of property and equipment    91 
Amortization of deferred costs on convertible notes 464   466 
Deferred taxes benefit    (23)
Changes in other assets and liabilities:     
Accounts receivable, net   532       (2,804 )
Inventory   (40 )     133  
Prepaid expenses   (433 )     185  
Other assets   (442 )     (3,687 )
Accounts payable   (10,649 )     (503 )
Accrued expenses   4,440       (2,119 )
Contract liabilities   2,277       1,436  
Lease liabilities   (1,671 )     (970 )
Income taxes payable   (276 )     157  
Net cash used in operating activities   (11,734 )     (16,455 )
Cash flows from investing activities:          
Purchases of marketable securities   (2,726 )     (2,688 )
Proceeds from sale of marketable securities   10,000        
Purchases of property and equipment   (4,347 )     (4,186 )
Proceeds from sale of property and equipment         223  
Cash paid for business combination, net of cash acquired         (3,349 )
Net cash provided by (used in) investing activities   2,927       (10,000 )
Cash flows from financing activities:          
Proceeds from stock options exercised   1,233       483  
Net cash provided by financing activities   1,233       483  
Effect of foreign currency translation on cash and cash equivalents   (149 )     15  
Net decrease in cash and cash equivalents   (7,723 )     (25,957 )
Cash and cash equivalents at beginning of the period   53,424       65,662  
Cash and cash equivalents at end of the period $ 45,701     $ 39,705  
Supplemental cash flow information:          
Cash paid for interest $ 1,438     $ 1,438  
Non-cash investing and financing activities:          
Non-cash purchase of property and equipment         78  
Non-cash consideration in connection with business combination         1,593  
               



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