Xometry Reports Third Quarter 2024 Results

Xometry, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share amounts)
(Unaudited)
       
    Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
    2024     2023     2024     2023  
                   
Revenue $141,698  $118,927  $396,983  $335,261 
Cost of revenue  85,873   72,678   240,379   206,087 
Gross profit   55,825   46,249   156,604   129,174 
Sales and marketing  27,204   23,210   81,891   68,315 
Operations and support  14,698   12,622   42,918   39,450 
Product development     9,344       8,523       28,952       25,570  
General and administrative     16,060       14,940       47,470       56,479  
Impairment of assets     -       151       -       397  
Total operating expenses     67,306       59,446       201,231       190,211  
Loss from operations     (11,481 )     (13,197 )     (44,627 )     (61,037 )
Other income (expenses)                        
Interest expense     (1,187 )     (1,205 )     (3,564 )     (3,596 )
Interest and dividend income     2,781       2,994       8,275       8,648  
Other expenses     (444 )     (597 )     (1,064 )     (1,156 )
Income from unconsolidated joint venture     162       134       493       437  
Total other income     1,312       1,326       4,140       4,333  
Loss before income taxes     (10,169 )     (11,871 )     (40,487 )     (56,704 )
Provision for income taxes     (30 )     (139 )     (20 )     (208 )
Net loss     (10,199 )     (12,010 )     (40,507 )     (56,912 )
Net income attributable to noncontrolling interest     -       13       5       9  
Net loss attributable to common stockholders   $ (10,199 )   $ (12,023 )   $ (40,512 )   $ (56,921 )
Net loss per share, basic and diluted, of Class A and Class B common
   stock
  $ (0.21 )   $ (0.25 )   $ (0.83 )   $ (1.19 )
Weighted-average number of shares outstanding used to compute
   net loss per share, basic and diluted, of Class A and Class B
   common stock
    49,282,164       47,989,277       48,901,475       47,852,671  
                         
Net loss   $ (10,199 )   $ (12,010 )   $ (40,507 )   $ (56,912 )
Comprehensive loss:                        
Foreign currency translation     795       91       430       450  
Total other comprehensive income     795       91       430       450  
Comprehensive loss     (9,404 )     (11,919 )     (40,077 )     (56,462 )
Comprehensive (loss) income attributable to noncontrolling interest     (23 )     21       8       45  
Total comprehensive loss attributable to common stockholders   $ (9,381 )   $ (11,940 )   $ (40,085 )   $ (56,507 )



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