Slide 1: AI-Enabled Marketplace Digitizing Manufacturing
AI-Enabled Marketplace Digitizing Manufacturing Q4 2023 Earnings Presentation | February 29, 2024 © 2024 Xometry and/or its affiliates. All rights reserved. Confidential.
Slide 2: Safe Harbor
Xometry | Q4 2023 Earnings Safe Harbor This presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding the Company’s future results of operations and financial position, business strategy,
Slide 3: Rapid Growth, Digitizing & Transforming Manufacturing
Xometry | Q4 2023 Earnings Rapid Growth, Digitizing & Transforming Manufacturing $463M $178M LTM Revenue LTM Gross Profit • Q4 2023 increased, +31% YoY • Q4 2023 Gross Profit, +39% YoY • Q4 2023 Marketplace growth • Q4 2023 Marketplace Gross Margin +500bps YoY +42% YoY • Q4 2023 Marketplace Gross Pr
Slide 4: Key Highlights of the Quarter
Xometry | Q4 2023 Earnings Key Highlights of the Quarter Strong Q4 2023 Financial Progress on Key 2024: Strong Growth and Performance Growth Initiatives Increasing Efficiency Strong 31% Revenue Growth driven by Increasing focus on Enterprise; accounts with Strong growth outlook in 2024; expect accel
Slide 5: Significant Growth at Scale
Xometry | Q4 2023 Earnings Significant Growth at Scale $ in millions LTM Revenue1 $128M Quarterly Revenue and YoY Growth • $395M Marketplace Revenue • $112M Marketplace Revenue • +30% YoY Marketplace Revenue Growth • +42% YoY Marketplace Revenue Growth • $16M Supplier Services Revenue $463 $128 $381
Slide 6: Large and Growing Marketplace of Buyers and Suppliers
Xometry | Q4 2023 Earnings Large and Growing Marketplace of Buyers and Suppliers • Xometry's growth has been underpinned by efficiently matching supplier capacity with buyer demand Active Buyers1 Active Suppliers2 YoY 49% 45% 36% 36% YoY 43% 26% 36% Growth Growth ’20 – ’23 CAGR 55,458 55,458 43% ’20
Slide 7: Large, Sticky Customer Base
Xometry | Q4 2023 Earnings Large, Sticky Customer Base • Growth in Accounts with LTM spend of $50K reflects Xometry successfully embedding itself in customer supply chains • Reliable land and expand customer dynamics drive Xometry’s highly reoccurring revenue from existing customers Accounts with LT
Slide 8: Rapidly Growing Global Marketplace
Xometry | Q4 2023 Earnings Rapidly Growing Global Marketplace International Revenue Expanding Global Footprint Growth $60.1 +81% $33.2 YoY $16.3 $17.6 EUROPE $10.1 $3.1 +75% YoY EU HQ: Munich, FY20 FY21 FY22 FY23 4Q22 4Q23 Germany ASIA ASIA HQ: Shanghai, China International Revenue Split by 14 Langu
Slide 9: Increasing Value from Existing Marketplace Accounts
Xometry | Q4 2023 Earnings Increasing Value from Existing Marketplace Accounts1 Revenue $ in millions for global accounts New Account Cohorts Through 2023 New Accounts Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 2016 $3.3M $5.4M $7.6M $13.7M $21.1M $30.1M $35.6M $42.2M 2017 $5.6M $8.8M $
Slide 10: Strong Gross Profit Growth
Xometry | Q4 2023 Earnings Strong Gross Profit Growth $ in millions Annual Gross Profit and Margin1 Quarterly Gross Profit and Margin • 31.3% Marketplace Gross Margin Annual Gross Margin 23.5% 26.2% 38.3% 38.5% • 87.3% Supplier Services Gross Margin Annual Marketplace NA 25.1% 28.2% 30.8% Quarterly
Slide 11: Strong Marketplace Metrics
Xometry | Q4 2023 Earnings Strong Marketplace Metrics Improving Advertising Efficiency Active Buyers Net Active Buyer Advertising % of Adds2 Marketplace Revenue 55,458 4,173 12.9% 4,052 52,467 3,875 • Q4 2023 balancing 48,294 3,578 growth and profitability 44,716 40,664 • Q4 advertising spend 2,991
Slide 12: Non-GAAP Operating Expenses, Improving Leverage YoY Across Every Category
Xometry | Q4 2023 Earnings Non-GAAP Operating Expenses, Improving Leverage YoY Across Every Category % of Revenue5 Sales and Operations and Product G&A1,2 Marketing1,3 Support1,4 Development1 13.2% 13.0% 10.8% 12.6% 10.3% 10.4% 6.0% 20.7% 11.7% 19.6% 9.5% 5.4% 5.4% 10.8% 18.4% 18.4% 8.9% 17.8% 17.9%
Slide 13: Improving Operating Leverage
Xometry | Q4 2023 Earnings Improving Operating Leverage Adj. EBITDA1 and Margin2 (11.8)% (11.2)% (7.8)% (5.9)% (3.5)% (2.2)% FY22 FY23 1Q23 2Q23 3Q23 4Q23 1) We define Adjusted EBITDA as net loss, adjusted for interest expense, interest and dividend income and other (2) Our 2022 results have been re
Slide 14: Guidance
Xometry | Q4 2023 Earnings Guidance $ in millions Q1 2024 NOTE Low High • Expect Q1 2024 revenue growth of 12%-14% year-over-year to $118- $120 million. Expect Q1 2024 Marketplace growth of 18-20% YoY. • Expect Q1 2024 Adjusted EBITDA loss of $7.0-$9.0 million. Revenue $118 $120 • Expect fiscal 2024
Slide 15: Xometry Overview
Xometry Overview 15 © 2024 Xometry and/or its affiliates. All rights reserved. Confidential.
Slide 16: Xometry is Digitizing Manufacturing: Solutions for Buyers and Suppliers
Xometry | Q4 2023 Earnings Xometry is Digitizing Manufacturing: Solutions for Buyers and Suppliers Marketplace Supplier Services 55K+ Active Buyers1 7.2K+ Active Paying Suppliers AI-powered platform for Buyers to access custom manufacturing Advertising & Marketing and Financial Services 1. Active Bu
Slide 17: Custom Manufacturing is a Massive, Highly Inefficient Market
Xometry | Q4 2023 Earnings Custom Manufacturing is a Massive, Highly Inefficient Market Buyer Pain Points Supplier Pain Points Highly fragmented US manufacturing (600K+ Geographic isolation and limited access to Suppliers); 75% have <20 employees customers Inefficient, procurement process; difficult
Slide 18: Artificial Intelligence is at the Heart of Xometry's Platform
Xometry | Q4 2023 Earnings Expanding Our Competitive Moat Artificial Selection • Extensible technology Intelligence is platform adding manufacturing processes with no CAPEX at the Heart of Xometry’s Data Geography Platform • Machine learning continuing to improve • Broadening global footprint pricin
Slide 19: Growth Fueled by AI Powered Marketplace
Xometry | Q4 2023 Earnings Growth Fueled by AI Powered Marketplace YoY Active Buyers1 YoY Marketplace Revenue YoY Marketplace Gross Profit 48% CAGR 51% CAGR 70% CAGR 55,458 $394.8 $121.5 11,527 $75.5 $14.4 2019 2023 2019 2023 2019 2023 1. We define Active Buyers as the number of Buyers who have made
Slide 20: Thomas: A Leading Manufacturing Sourcing Platform
Xometry | Q4 2023 Earnings Thomas: A Leading Manufacturing Sourcing Platform Advertising & Marketing Services (AMS) Attractive Advertising Supported Platform Financial Profile AMS Revenue ~$64M TTM. 5K+ Premium Paying Suppliers (Annual Subscription) Gross Margin 85%+ 1.4M Registered Users 79K Catego
Slide 21: Significant Penetration & Growth Opportunities
Xometry | Q4 2023 Earnings Significant Penetration & Growth Opportunities • Enhance experience for both Buyers and Suppliers • Grow leads and improve monetization with modernized pay-for- 500K performance ad platform Suppliers • Drive new paying Suppliers through revamped sales and product 5K+ Q4 20
Slide 22: Growth and Long-Term Margin
Xometry | Q4 2023 Earnings Growth and Long-Term Margin Expand extensible marketplace Long-Term Margin Outlook2 with XOM AI Attract new Buyers and expand % of Revenue Sustained enterprise offerings Profitable Gross Margin 40 – 45% Growth Rapid International expansion Underpinned by… Operating Expense
Slide 23: Appendix
Appendix 23 © 2024 Xometry and/or its affiliates. All rights reserved. Confidential.
Slide 24: Adjusted EBITDA Reconciliation
Xometry | Q4 2023 Earnings Adjusted EBITDA Reconciliation $ in thousands (1) Our 2022 results have been revised to reflect immaterial corrections related to certain captions within the Consolidated Balance Sheet, Consolidated Statement of Operations and Comprehensive Loss and Consolidated Statement
Slide 25: Reconciliation of Non-GAAP Operating Expenses – Sales and Marketing
Xometry | Q4 2023 Earnings Reconciliation of Non-GAAP Operating Expenses – Sales and Marketing $ in thousands (1) Our 2022 results have been revised to reflect immaterial corrections related to certain captions within the Consolidated Balance Sheet, Consolidated Statement of Operations and Comprehen
Slide 26: Reconciliation of Non-GAAP Operating Expenses – Operations and Support
Xometry | Q4 2023 Earnings Reconciliation of Non-GAAP Operating Expenses – Operations and Support $ in thousands (1) Our 2022 results have been revised to reflect immaterial corrections related to certain captions within the Consolidated Balance Sheet, Consolidated Statement of Operations and Compre
Slide 27: Reconciliation of Non-GAAP Operating Expenses – Product Development
Xometry | Q4 2023 Earnings Reconciliation of Non-GAAP Operating Expenses – Product Development $ in thousands (1) Our 2022 results have been revised to reflect immaterial corrections related to certain captions within the Consolidated Balance Sheet, Consolidated Statement of Operations and Comprehen
Slide 28: Reconciliation of Non-GAAP Operating Expenses – General and Administrative
Xometry | Q4 2023 Earnings Reconciliation of Non-GAAP Operating Expenses – General and Administrative $ in thousands (1) Our 2022 results have been revised to reflect immaterial corrections related to certain captions within the Consolidated Balance Sheet, Consolidated Statement of Operations and Co
Slide 29: Reconciliation of Non-GAAP Cost of Revenue
Xometry | Q4 2023 Earnings Reconciliation of Non-GAAP Cost of Revenue $ in thousands (1) Our 2022 results have been revised to reflect immaterial corrections related to certain captions within the Consolidated Balance Sheet, Consolidated Statement of Operations and Comprehensive Loss and Consolidate
Slide 30: Immaterial Corrections to Previously Issued Consolidated Financial Statements
Xometry | Q4 2023 Earnings Xometry, Inc. and Subsidiaries Immaterial Corrections to Previously Issues Consolidated Financial Statements (In thousands, except per share amounts) (Unaudited) 30 © 2024 Xometry and/or its affiliates. All rights reserved. Confidential.
Slide 31: Immaterial Corrections to Previously Issued Consolidated Financial Statements
Xometry | Q4 2023 Earnings Xometry, Inc. and Subsidiaries Immaterial Corrections to Previously Issues Consolidated Financial Statements (In thousands, except per share amounts) (Unaudited) 31 © 2024 Xometry and/or its affiliates. All rights reserved. Confidential.