Business
Xometry Reports Fourth Quarter and Full Year 2022 Results
Q4 revenue increased 46% year-over-year driven by solid marketplace growth of 32% as well as supplier services including the acquisition of Thomas Q4 gross
About this update from Xometry, Inc.
[{"type":"text","content":"Q4 revenue increased 46% year-over-year driven by solid marketplace growth of 32% as well as supplier services including the acquisition of Thomas Q4 gross profit up 72% year-over-year driven by 30% growth in marketplace gross profit and the addition of Thomas. Strong gross profit growth partly offset by price optimization effortsExpect Q1 revenue growth of 20%-22% year-over-year to $100-$102 million, driven by healthy marketplace growth in the mid to high 20% range year-over-yearQ4 Adjusted EBITDA loss of $14.2 million reflects revenue shortfall and lower gross margins quarter-over-quarter. Expect improved operating leverage going forward as we take steps to lower operating expenses, including a 6% reduction in workforce in January 2023Implementing 5-point strategic plan with increasing focus on our top 200 accounts; rapidly expanding the marketplace menu; furthering international expansion and growth; driving adoption of new products, and aggressively reducing operating expenses NORTH BETHESDA, Md., March 01, 2023 (GLOBE NEWSWIRE) -- Xometry, Inc. (NASDAQ:XMTR), the global online marketplace connecting enterprise buyers with suppliers of manufacturing services, today reported financial results for the fourth quarter and full year ended December 31, 2022. “In Q4 2022, Xometry delivered strong 32% marketplace growth in a period of increasingly challenging macroeconomic conditions,\" said Randy Altschuler, Xometry CEO. \"As we continue to grow rapidly year-over-year, we are also implementing a 5-point strategic plan to ensure that we continue to deliver strong growth. These steps include realigning our sales efforts to improve our focus on our top 200 accounts who represent significant revenue opportunities and who depend on Xometry to strengthen their crucial supply chains; continued expansion of processes and materials with a deeper integration with Thomas; rapid international expansion and growth; and further enhancements and adoption of new products, including Workcenter. Additionally, we are taking an aggressive approach to reducing operating expenses, which included a 6% headcount reduction in January.” Fourth Quarter 2022 Financial Highlights Total revenue for the fourth quarter 2022 was $98.2 million, an increase of 46% year-over-year.Marketplace revenue for the fourth quarter of 2022 was $79.1 million, an increase of 32%...