Slide 1: AI-Enabled Marketplace Digitizing Manufacturing
AI-Enabled Marketplace Digitizing Manufacturing Q3 2024 Earnings Presentation | November 5, 2024 © 2024 Xometry and/or its affiliates. All rights reserved. Confidential.
Slide 2: Safe Harbor
Xometry | Q3 2024 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, expectations rega
Slide 3: Rapid Growth, Digitizing & Transforming Manufacturing
Xometry | Q3 2024 Earnings ® Rapid Growth, Digitizing & Transforming Manufacturing $525M $206M LTM Revenue LTM Gross Profit • Q3 2024 Revenue increased • Q3 2024 Gross Profit +21% YoY +19% YoY • Q3 2024 Marketplace Gross Margin 33.6% • Q3 2024 Marketplace growth +250bps YoY +24% YoY • Q3 2024 Market
Slide 4: Key Highlights of the Quarter
Xometry | Q3 2024 Earnings ® Key Highlights of the Quarter Strong Q3 2024 Financial Progress on Key Performance Growth Initiatives Financial Outlook Record revenue of $142M driven by 24% Focusing on enterprise as Marketplace Strong durable growth outlook given Marketplace revenue growth. Accounts wi
Slide 5: Significant Growth at Scale
Xometry | Q3 2024 Earnings ® Significant Growth at Scale $ in millions Annual Revenue Quarterly Revenue • $463M FY23 Total Revenue, +22% YoY Growth • $142M Q3 2024 Total Revenue +19% YoY Growth • $395M FY23 Marketplace Revenue • $127M Q3 2024 Marketplace Revenue • +30% YoY Marketplace Revenue Growth
Slide 6: Large and Growing Marketplace of Buyers and Suppliers
Xometry | Q3 2024 Earnings ® Large and Growing Marketplace of Buyers and Suppliers • Marketplace growth has been driven by efficiently matching supplier capacity with buyer demand Active Buyers1,2 Active Suppliers3,4 YoY Growth 24% YoY Growth 36% 64,851 3,429 55,325 52,382 2,529 40,567 2,010 28,130
Slide 7: Expanding Wallet Share, Sticky Customer Base
Xometry | Q3 2024 Earnings ® Expanding Wallet Share, Sticky Customer Base • Growth in Marketplace Accounts with LTM spend of at least $50K reflects Xometry embedding itself in supply chain s • Reliable land and expand customer dynamics drive Xometry’s highly reoccurring revenue from existing custome
Slide 8: Rapidly Growing Global Marketplace
Xometry | Q3 2024 Earnings ® Rapidly Growing Global Marketplace Strong International $24.1 Expanding Global Footprint Revenue Growth $20.4 $19.3 • Q3 2024 +55% YoY $17.6 $15.5 EUROPE 3Q23 4Q23 1Q24 2Q24 3Q24 EU HQ: Munich, Germany ASIA ASIA HQ: Rapid Shanghai, China International Expansion and 16 La
Slide 9: Increasing Value from Existing Marketplace Accounts
Xometry | Q3 2024 Earnings ® Increasing Value from Existing Marketplace Accounts 1 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 $8.8
Slide 10: Strong Gross Profit Growth
Xometry | Q3 2024 Earnings ® Strong Gross Profit Growth $ in millions Annual Gross Profit and Margin Quarterly Gross Profit and Margin Annual G ross Quarte rly M argin 26.2% 38.3% 38.5% G ross Margin 38.9% 39.4% Annual Quarte rly M arke tpla ce 25.1% 28.2% 30.8% Marke tpla ce 31.1% 33.6% G ross M ar
Slide 11: Strong Marketplace Buyer Metrics
Xometry | Q3 2024 Earnings ® Strong Marketplace Buyer Metrics Improving advertising efficiency Active Buyers1,2 Net Active Buyer Advertising % of Adds2 Marketplace Revenue 64,851 • Q3 2024 Active Buyer 61,530 58,504 +24% YoY 55,325 52,382 • Q3 Marketplace 4,042 Advertising Spend 3,321 +9% YoY 2,943
Slide 12: Non-GAAP Operating Expenses, Strong Q3 2024 Leverage
Xometry | Q3 2024 Earnings ® Non-GAAP Operating Expenses, Strong Q3 2024 Leverage % of Revenue Sales and Operations and Product G&A 1,2 Marketing1,3 Support 1,4 Development1 10.8% 12.6% 6.0% 11.7% 20.7% 20.3% 9.7% 9.5% 18.4% 8.8% 8.8% 10.6% 18.2% 5.0% 5.1% 10.2% 17.3% 9.8% 4.5% 4.1% FY22 FY23 1Q24 2
Slide 13: Improving Operating Leverage
Xometry | Q3 2024 Earnings ® Improving Operating Leverage • Strong Q3 operating leverage driven by U.S. Marketplace. • Strong incremental Adj. EBITDA margin of ~23% YTD 2024. Adj. EBITDA1 and Margin (18.2)% (11.8)% (5.9)% (6.1)% (2.0)% (0.4)% FY21 FY22 FY23 1Q24 2Q24 3Q24 1. We def ine Adjusted EBIT
Slide 14: Guidance
Xometry | Q3 2024 Earnings ® Guidance $ in millions Q4 2024 NOTE Low High • Expect Q4 2024 revenue of $145-147 million. Revenue $145 $147 • Expect Q4 2024 to be slightly Adjusted EBITDA profitable Note: Reconciliation of Adjusted EBITDA on a forward-looking b asis to net loss, the most directly comp
Slide 15: Xometry Overview
Xometry Overview 15 © 2024 Xometry and/or its affiliates. All rights reserved. Confidential.
Slide 16: Marketplace: Global Supply Chain Solution
Xometry | Q3 2024 Earnings ® Xometry Marketplace: Global Supply Chain Solution Enabling Buyers to instantly access manufacturing capabilities through our Marketplace. Buyers Suppliers • Digital procurement • Digitally sell capacity • Instant access to supply • Access global demand at chain solutions
Slide 17: Marketplace: Investment Highlights
Xometry | Q3 2024 Earnings ® Xometry Marketplace: Investment Highlights • Leading digital marketplace for custom manufacturing • Large TAM with less than 1% penetration and long runway for growth • Track record of compounding growth in Buyers and Suppliers, driving strong revenue and gross profit •
Slide 18: Leading Digital Marketplace for Custom Manufacturing
Xometry | Q3 2024 Earnings ® Leading Digital Marketplace for Custom Manufacturing 64K+ ~7K $525M $206M Q3 2024 Active Q3 2024 Active LTM Gross LTM Revenue Buyers1 Paying Suppliers 2 Profit Large, rapidly Leading global Q3 2024 +19% Q3 2024 +21% growing and Supplier YoY YoY diverse Buyer network base
Slide 19: Less than 1% Penetration Rates, Long Runway for Growth
Xometry | Q3 2024 Earnings ® Less than 1% Penetration Rates, Long Runway for Growth Category Vertical Suppliers CNC $52BN1 Aerospace $103BN2 Small Business Manufacturers 592K3 Toal U.S. Market Xometry Market Share 1. Beroe Inc. 2. Precedence Research 19 © 2024 Xometry and/or its affiliates. All righ
Slide 20: Marketplace Network Effects Drive Compounding Growth
Xometry | Q3 2024 Earnings ® Marketplace Network Effects Drive Compounding Growth YoY Active Buyers1,2 YoY Active Suppliers3 YoY Marketplace Revenue YoY Marketplace Gross Profit 48% CAGR 45% CAGR 51% CAGR 71% CAGR 55,325 3,429 $121 $395 11,527 774 $76 $14 2019 2023 2019 2023 2019 2023 2019 2023 1. W
Slide 21: AI Powers Xometry's Platform
Xometry | Q3 2024 Earnings ® Expanding Our Competitive Moat Selection Expanding categories with extensible tech platform AI Powers Xometry’s Platform Data Geography AI-enabled technology Broadening global optimizes pricing and footprint Machine learning driven matching AI-Powered AI platform powered
Slide 22: Expanding Selection with Extensible Technology Platform
Xometry | Q3 2024 Earnings ® Expanding Selection with Extensible Technology Platform Growing our Marketplace menu 3D P rinting Sheet Metal Die Casting 3D P rinting Sheet Metal Ure th ane CNC Casting Ure thane Casting CNC Tube Finishing Cutting Inje ction Molding Die Casting Tube Inje ction Bending A
Slide 23: Strength and Breadth Across Many End Markets
Xometry | Q3 2024 Earnings ® Aerospace & Defense Automotive Consumer Products Education Electronics & Semiconductors Strength and Energy Breadth Across Engineering / Consulting Firm Food and Beverage Many End Markets General Manufacturing Government Industrial Equipment Robotics/Automation Medical,
Slide 24: AI Fuels Marketplace Gross Margin Expansion
Xometry | Q3 2024 Earnings ® AI Fuels Marketplace Gross Margin Expansion More quotes and orders matched with more suppliers drives higher gross margin Marketplace Gross Margin % 64 ,851 ACTIVE BUYERS1,2 BUYERS owered AI-P 55 ,325 40 ,567 +10 pts Since 2020 28 ,130 Add Active Buyers Chart ACTIVE 18 ,
Slide 25: Thomas: Leading Manufacturing Digital Advertising Platform
Xometry | Q3 2024 Earnings ® Thomas: Leading Manufacturing Digital Advertising Platform Advertising & Marketing Services (AMS) Attractive Advertising Supported Platform Financial Profile AMS Revenue ~$60M FY23. ~5K Premium Paying Suppliers Gross Margin 85%+ 1.4M Registered Users 78K Categories Suite
Slide 26: Significant Monetization and Penetration Opportunities
Xometry | Q3 2024 Earnings ® Significant Monetization and Penetration Opportunities Thomas Growth Strategy • Enhance experience for both Buyers and Suppliers ~500K • Increase Advertiser penetration Suppliers and engagement on the platform from ~500K suppliers • Improve platform monetization ~5K with
Slide 27: Path to Profitability
Xometry | Q3 2024 Earnings ® Path to Profitability Demonstrated strong incremental Adj EBITDA margin of ~20-25% Financial Drivers • ~$600M annual revenue run Revenue Adj. EBITDA rate to deliver Adj. EBITDA profitability $463 • Expect total Gross Margin of $381 $397.0 38-40% $335.3 • Strong Adj EBITD
Slide 28: Clear Strategy for Growth
Xometry | Q3 2024 Earnings ® Clear Strategy for Growth Expanding Buyer Driving deeper Further expanding Growing Enhancing Thomas and Supplier enterprise marketplace internationally Supplier Services networks management menu % of Revenue Gross Margin 40 – 45% Long-Term Operating Expenses 15 – 20% Mar
Slide 29: Appendix
Appendix 29 © 2024 Xometry and/or its affiliates. All rights reserved. Confidential.
Slide 30: Adjusted EBITDA Reconciliation
Xometry | Q3 2024 Earnings ® Adjusted EBITDA Reconciliation $ in thousands 1. Represents depreciation expense of the Comp any’s long-lived tangible assets and amortization expense of its finite-lived intangib le assets, as included in the Company’s GAAP results of operations. 2. Represents the non-c
Slide 31: Reconciliation of Non-GAAP Operating Expenses – Sales and Marketing
Xometry | Q3 2024 Earnings ® Reconciliation of Non-GAAP Operating Expenses – Sales and Marketing $ in thousands 1. Represents depreciation expense of the Comp any’s long-lived tangible assets and amortization expense of its finite-lived intangible assets, as included in th e Company’s GAAP results o
Slide 32: Reconciliation of Non-GAAP Operating Expenses – Operations and Support
Xometry | Q3 2024 Earnings ® Reconciliation of Non-GAAP Operating Expenses – Operations and Support $ in thousands 1. Represents depreciation expense of the Company’s long-lived tangible assets and amortization expense of its finite-lived intangib le assets, as included in the Comp any’s GAAP result
Slide 33: Reconciliation of Non-GAAP Operating Expenses – Product Development
Xometry | Q3 2024 Earnings ® Reconciliation of Non-GAAP Operating Expenses – Product Development $ in thousands 1. Represents depreciation expense of the Company’s long-lived tangible assets and amortization expense of its finite-lived intangib le assets, as included in the Company’s GAAP results of
Slide 34: Reconciliation of Non-GAAP Operating Expenses – General and Administrative
Xometry | Q3 2024 Earnings ® Reconciliation of Non-GAAP Operating Expenses – General and Administrative $ in thousands 1. Represents depreciation expense of th e Comp any’s long-lived tangible assets and amortization expense of its finite-lived intangible assets, as included in the Company’s GAAP re
Slide 35: Reconciliation of Non-GAAP Cost of Revenue
Xometry | Q3 2024 Earnings ® Reconciliation of Non-GAAP Cost of Revenue $ in thousands 1. Represents depreciation expense of the Company’s long-lived tangible assets and amortization expense of its finite-lived intangib le assets, as included in the Company’s GAAP results of operations. 35 © 2024 Xo