(In thousands, except share and per share amounts)
(Unaudited)
|
Three Months Ended
June 30, |
Six Months Ended
June 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Revenue | $ | 132,595 | $ | 111,008 | $ | 255,285 | $ | 216,334 | ||||||||
| Cost of revenue | 79,718 | 67,452 | 154,506 | 133,409 | ||||||||||||
| Gross profit | 52,877 | 43,556 | 100,779 | 82,925 | ||||||||||||
| Sales and marketing | 27,487 | 22,666 | 54,687 | 45,105 | ||||||||||||
| Operations and support | 14,173 | 14,220 | 28,220 | 26,828 | ||||||||||||
| Product development | 10,018 | 8,922 | 19,608 | 17,047 | ||||||||||||
| General and administrative | 16,488 | 25,582 | 31,410 | 41,539 | ||||||||||||
| Impairment of assets | - | 219 | - | 246 | ||||||||||||
| Total operating expenses | 68,166 | 71,609 | 133,925 | 130,765 | ||||||||||||
| Loss from operations | (15,289 | ) | (28,053 | ) | (33,146 | ) | (47,840 | ) | ||||||||
| Other income (expenses) | ||||||||||||||||
| Interest expense | (1,188 | ) | (1,193 | ) | (2,377 | ) | (2,391 | ) | ||||||||
| Interest and dividend income | 2,762 | 2,959 | 5,494 | 5,654 | ||||||||||||
| Other expenses | (233 | ) | (576 | ) | (620 | ) | (559 | ) | ||||||||
| Income from unconsolidated joint venture | 234 | 237 | 331 | 303 | ||||||||||||
| Total other income | 1,575 | 1,427 | 2,828 | 3,007 | ||||||||||||
| Loss before income taxes | (13,714 | ) | (26,626 | ) | (30,318 | ) | (44,833 | ) | ||||||||
| Benefit (provision) for income taxes | 10 | 67 | 10 | (69 | ) | |||||||||||
| Net loss | (13,704 | ) | (26,559 | ) | (30,308 | ) | (44,902 | ) | ||||||||
| Net (loss) income attributable to noncontrolling interest | (7 | ) | (5 | ) | 5 | (4 | ) | |||||||||
| Net loss attributable to common stockholders | $ | (13,697 | ) | $ | (26,554 | ) | $ | (30,313 | ) | $ | (44,898 | ) | ||||
| Net loss per share, basic and diluted, of Class A and Class B common
stock | $ | (0.28 | ) | $ | (0.55 | ) | $ | (0.62 | ) | $ | (0.94 | ) | ||||
| Weighted-average number of shares outstanding used to compute
net loss per share, basic and diluted, of Class A and Class B common stock | 48,840,100 | 47,865,990 | 48,709,040 | 47,783,235 | ||||||||||||
| Net loss | $ | (13,704 | ) | $ | (26,559 | ) | $ | (30,308 | ) | $ | (44,902 | ) | ||||
| Comprehensive loss: | ||||||||||||||||
| Foreign currency translation | 92 | 224 | (365 | ) | 359 | |||||||||||
| Total other comprehensive income (loss) | 92 | 224 | (365 | ) | 359 | |||||||||||
| Comprehensive loss | (13,612 | ) | (26,335 | ) | (30,673 | ) | (44,543 | ) | ||||||||
| Comprehensive income attributable to noncontrolling interest | 2 | 19 | 31 | 24 | ||||||||||||
| Total comprehensive loss attributable to common stockholders | $ | (13,614 | ) | $ | (26,354 | ) | $ | (30,704 | ) | $ | (44,567 | ) | ||||
Xometry, Inc. and Subsidiaries
