Xometry, Inc. Reports Second Quarter 2021 Results

ROCKVILLE, Md., Aug. 12, 2021 (GLOBE NEWSWIRE) -- Xometry, Inc. (NASDAQ:XMTR), a leading AI-enabled marketplace for on-demand manufacturing, today reported financial results for the second quarter ended June 30, 2021, including the following highlights:

  • Revenue grew 45% year-over-year from $34.8 million as of June 30, 2020 to $50.6 million as of June 30, 2021.
  • Active Buyers increased 66% from 14,460 as of June 30, 2020 to 23,942 as of June 30, 2021.
  • Percentage of Revenue From Existing Accounts was 95%.
  • Accounts with Last Twelve-Months Spend of at least $50,000 increased 54% from 330 as of June 30, 2020 to 508 as of June 30, 2021.
  • Gross Profit increased 44% year-over-year to $11.9 million as of June 30, 2021, as compared to $8.3 million as of June 30, 2020.
  • Net loss was $12.3 million for the quarter, an increase of $6.1 million year-over-year, and Adjusted EBITDA was negative $9.1 million for the quarter, reflecting an increase of $4.3 million year-over-year. Net loss for Q2 2021 includes $2.0 million of stock-based compensation expense. 
  • Cash and cash equivalents was $37.4 million at quarter end with $15.9 million in debt outstanding. On July 2, 2021, we completed our initial public offering, raising net proceeds of $325.3 million after deducting underwriting discounts and commissions.

“Buyers and sellers around the world are choosing the Xometry marketplace for on-demand manufacturing,” said Randy Altschuler, Xometry’s CEO. “Our focus is making it easier for our buyers to source customized manufacturing and enabling our sellers to more efficiently find jobs and run their operations in this massive, highly fragmented market.” 

“Second quarter results were strong across all key metrics. We delivered 45% year-over-year revenue growth, 66% year-over-year active buyer growth and sequentially improved gross margin over the first quarter of 2021.  While we are proud of these results, we are even prouder of the team that got us here, of the business we have built together, and of the great experiences that we deliver to our customers.” 

 
Unaudited Financial Summary
(In thousands, except per share amounts)
 
    For the Three Months
Ended June 30,
          For the Six Months
Ended June 30,
    
    2021     2020     %
Change
    2021     2020    %
Change
 
                                  
Revenue $50,589  $34,783    45 %   $ 94,510     $ 61,472       54 %
Gross Profit     11,875       8,265       44 %     21,710       13,631       59 %
Net Loss     (12,264 )     (6,119 )     100 %     (22,765 )     (14,726 )     55 %
EPS—basic and diluted     (1.46 )     (0.82 )     78 %     (2.79 )     (1.99 )     40 %
Adjusted EBITDA (Non-GAAP 1 )     (9,073 )     (4,788 )     89 %     (17,882 )     (12,303 )     45 %
                                                 

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