Business
Xometry, Inc. Reports Third Quarter 2021 Results
Reports 35% Growth in Year-Over-Year Revenue ROCKVILLE, Md., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Xometry, Inc. (NASDAQ:XMTR), a leading AI-enabled marketplace
About this update from Xometry, Inc.
[{"type":"text","content":"Reports 35% Growth in Year-Over-Year Revenue\nROCKVILLE, Md., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Xometry, Inc. (NASDAQ:XMTR), a leading AI-enabled marketplace for on-demand manufacturing, today reported financial results for the third quarter ended September 30, 2021, including the following highlights: Revenue grew 35% year-over-year from $42.0 million as of September 30, 2020 to $56.7 million as of September 30, 2021. Revenue increased 77% year-over-year in Q3 2021, when excluding sales of masks by one customer from both periods. Gross profit increased 42% year-over-year to $14.5 million as of September 30, 2021, as compared to $10.2 million as of September 30, 2020. Gross profit margin improved to 25.6% as of September 30, 2021 from 24.3% as of September 30, 2020. Active Buyers increased 61% from 16,266 as of September 30, 2020 to 26,187 as of September 30, 2021.Accounts with Last Twelve-Months Spend of at least $50,000 increased 67% from 361 as of September 30, 2020 to 603 as of September 30, 2021.Percentage of Revenue from Existing Accounts was 95%, consistent with the prior quarter.Net loss was $14.7 million for the quarter, an increase of $8.5 million year-over-year, and Adjusted EBITDA was negative $10.0 million for the quarter, reflecting an increase of $5.4 million year-over-year. Net loss for Q3 2021 includes $2.3 million of stock-based compensation expense and $1.2 million of expense for charitable contributions.Xometry expects business momentum to continue and is providing guidance for Q4 2021 of 58%-63% revenue growth year-over-year. Q4 2021 revenue when excluding sales of masks by one customer from both periods, is expected to be 75%-80% year-over-year. Cash and cash equivalents and marketable securities were $324.5 million as of September 30, 2021. “Xometry’s third quarter 2021 performance was outstanding as we saw accelerated demand from larger customers across many verticals on our platform”, said Randy Altschuler, Xometry’s CEO. “Active Buyer growth was robust at 61% year-over-year and Accounts with Last Twelve Month Spend of at least $50,000 increased 67% year-over-year. Excluding the sales of masks by one customer which accounted for significant revenue in the prior year, third quarter revenue accelerated significantly to 77% growth year-over-year. Additionally, we delivered significant improvement in gross m...