Xometry Reports Third Quarter 2024 Results

Xometry, Inc. and Subsidiaries
 
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
    
    Nine Months Ended September 30,  
    2024     2023  
Cash flows from operating activities:           
Net loss $(40,507) $(56,912)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization  9,622   7,939 
Impairment of assets     397 
Reduction in carrying amount of right-of-use asset  3,328   13,257 
Stock based compensation  21,115   16,222 
Revaluation of contingent consideration  137   305 
Income from unconsolidated joint venture  (93)  (137)
Donation of common stock  1,063   696 
(Gain) loss on sale of property and equipment  (23)  92 
Inventory write-off     223 
Amortization of deferred costs on convertible notes  1,394   1,396 
Deferred taxes benefit     (30 )     (66 )
Changes in other assets and liabilities:            
Accounts receivable, net     (8,263 )     (14,873 )
Inventory     (598 )     (17 )
Prepaid expenses     786       2,335  
Other assets     4,354       1,395  
Accounts payable     (18,293 )     640  
Accrued expenses     6,782       1,032  
Contract liabilities     916       1,178  
Lease liabilities     (5,068 )     (3,845 )
Other liabilities     529       -  
Income taxes payable     (1,620 )     160  
Net cash used in operating activities     (24,469 )     (28,583 )
Cash flows from investing activities:            
Purchases of marketable securities     (16,253 )     (8,630 )
Proceeds from sale of marketable securities     15,000       30,000  
Purchases of property and equipment     (13,560 )     (12,063 )
Proceeds from sale of property and equipment     79       223  
Cash paid for business combination, net of cash acquired           (3,349 )
Net cash (used in) provided by investing activities     (14,734 )     6,181  
Cash flows from financing activities:            
Proceeds from stock options exercised     3,215       1,428  
Net cash provided by financing activities     3,215       1,428  
Effect of foreign currency translation on cash and cash equivalents     (6 )     (315 )
Net decrease in cash and cash equivalents     (35,994 )     (21,289 )
Cash and cash equivalents at beginning of the period     53,424       65,662  
Cash and cash equivalents at end of the period   $ 17,430     $ 44,373  
Supplemental cash flow information:            
Cash paid for interest   $ 2,875     $ 2,875  
Non-cash investing and financing activities:            
Non-cash consideration in connection with business combination           1,593  
                 



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