XMTR Xometry Inc

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 25, 2025

 

 

Xometry, Inc.

(Exact Name of Registrant as Specified in Its Charter)

 

 

Delaware			001-40546	32-0415449
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
6116 Executive Blvd, Suite 800
North Bethesda, Maryland				20852
(Address of Principal Executive Offices)				(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (240) 252-1138

 

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A common stock, par value $0.000001 per share		XMTR		Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

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Item 2.02 Results of Operations and Financial Condition.

 

On February 25, 2025, Xometry, Inc. (the “Company”) issued a press release announcing its fourth quarter and full year ended December 31, 2024 financial results. A copy of the press release is furnished as Exhibit 99.1 to this report.

 

The information set forth under this Item 2.02 and in the accompanying Exhibit 99.1 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, except as otherwise expressly stated in such filing.

Item 9.01 Financial Statements and Exhibits.

Exhibit No.	Description
99.1	Press Release of Xometry, Inc. issued on February 25, 2025.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

			XOMETRY, INC.
Date:	February 25, 2025	By:	/s/ Randolph Altschuler
			Randolph Altschuler Chief Executive Officer

 

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Exhibit 99.1

Xometry Reports Fourth Quarter and Full Year 2024 Results

 

 

 

NORTH BETHESDA, MD., February 25, 2025 /Globe Newswire/-- Xometry, Inc. (NASDAQ:XMTR), the global AI-powered marketplace connecting buyers with suppliers of manufacturing services, today reported financial results for the fourth quarter and full year ended December 31, 2024.

 

“Our AI powered marketplace continues to gain share and deliver record financial results,” said Randy Altschuler, Xometry’s CEO. “In Q4, we delivered stronger-than-expected marketplace growth and generated positive Adjusted EBITDA as our customers increasingly rely on Xometry for their supply chain resiliency. In 2025, we remain focused on driving global growth, scale and operating excellence.”

“In Q4, we delivered strong marketplace revenue growth, operating leverage and positive Adjusted EBITDA,” said James Miln, Xometry’s CFO. “Our record marketplace gross margin of 34.5% and operating efficiencies drove Adjusted EBITDA to a profit of $1.0 million, a $3.9 million improvement year-over-year.”

Fourth Quarter 2024 Financial Highlights

 

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Fourth Quarter 2024 Business Highlights

 

Full Year 2024 Financial Highlights

 

Full Year 2024 Business Highlights

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Financial Summary

(In thousands, except per share amounts)

(Unaudited)

 

		For the Three Months Ended December 31,												For the Year Ended December 31,
		2024				2023				% Change				2024				2023				% Change
Consolidated
Revenue		$	148,546			$	128,145				16	%		$	545,529			$	463,406				18	%
Gross profit			59,020				49,085				20	%			215,624				178,259				21	%
Net loss attributable to common stockholders			(9,889	)			(10,551	)			6	%			(50,401	)			(67,472	)			25	%
EPS, basic and diluted, of Class A and Class B common stock			(0.20	)			(0.22	)			9	%			(1.03	)			(1.41	)			27	%
Adjusted EBITDA(1)			1,049				(2,850	)			137	%			(9,676	)			(27,490	)			65	%
Non-GAAP net income (loss)(1)			3,165				(400	)			891	%			(2,069	)			(19,355	)			89	%
Non-GAAP EPS, basic and diluted(1), of Class A and Class B common stock			0.06				(0.01	)			700	%			(0.04	)			(0.40	)			90	%
Marketplace
Revenue		$	134,508			$	112,090				20	%		$	485,946			$	394,754				23	%
Cost of revenue			88,087				77,024				(14	)%			323,365				273,264				(18	)%
Gross Profit		$	46,421			$	35,066				32	%		$	162,581			$	121,490				34	%
Gross Margin			34.5	%			31.3	%			3.2	%			33.5	%			30.8	%			2.7	%
Supplier services
Revenue		$	14,038			$	16,055				(13	)%		$	59,583			$	68,652				(13	)%
Cost of revenue			1,439				2,036				29	%			6,540				11,883				45	%
Gross Profit		$	12,599			$	14,019				(10	)%		$	53,043			$	56,769				(7	)%
Gross Margin			89.7	%			87.3	%			2.4	%			89.0	%			82.7	%			6.3	%

 

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Key Operating Metrics(2):

		As of December 31,
		2024				2023				% Change
Active Buyers(3)			68,267				55,325				23	%
Percentage of Revenue from Existing Accounts(3)			97	%			96	%
Accounts with Last Twelve-Months Spend of at Least $50,000(3)			1,495				1,331				12	%
Active Paying Suppliers(3)			6,582				7,271				(9	)%

 

 

Financial Guidance and Outlook:

		Q1 2025
		(in millions)
		Low				High
Revenue		$	147			$	149

 

Xometry’s first quarter 2025 and full year 2025 financial outlook is based on a number of assumptions that are subject to change and many of which are outside of its control. If actual results vary from these assumptions, Xometry’s expectations may change. There can be no assurance that Xometry will achieve these results.

Reconciliation of Adjusted EBITDA on a forward-looking basis to net loss, the most directly comparable GAAP measure, is not available without unreasonable efforts due to the high variability and complexity and low visibility with respect to certain charges excluded from this non-GAAP measure, including interest and dividend income, benefit for income taxes, charitable contributions of common stock and impairment of assets. Xometry expects the variability of these items could have a significant, and potentially unpredictable, impact on its future GAAP financial results.

Use of Non-GAAP Financial Measures

To supplement its consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”), Xometry, Inc. (“Xometry”, the “Company”, “we” or “our”) uses Adjusted EBITDA, non-GAAP net income (loss) and non-GAAP Earnings Per Share basic and diluted, which are considered non-GAAP financial measures, as described below. These non-GAAP financial measures are presented to enhance the user’s overall understanding of Xometry’s financial performance and should not be considered a substitute for, nor superior to, the financial information prepared and presented in accordance with GAAP. The non-GAAP financial measures presented in this release, together with the GAAP financial results, are the primary measures used by the Company’s management and board of directors to understand and evaluate the Company’s financial performance and operating trends, including period-to-period comparisons, because they exclude certain expenses and gains that management believes are not indicative of the Company’s core operating results. Management also uses these measures to prepare and update the Company’s short and long term financial and operational plans, to

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evaluate investment decisions, and in its discussions with investors, commercial bankers, equity research analysts and other users of the Company’s financial statements. Accordingly, the Company believes that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating the Company’s operating results in the same manner as the Company’s management and in comparing operating results across periods and to those of Xometry’s peer companies. In addition, from time to time we may present adjusted information (for example, revenue growth) to exclude the impact of certain gains, losses or other changes that affect period-to-period comparability of our operating performance.

The use of non-GAAP financial measures has certain limitations because they do not reflect all items of income and expense, or cash flows, that affect the Company’s financial performance and operations. Additionally, non-GAAP financial measures do not have standardized meanings, and therefore other companies, including peer companies, may use the same or similarly named measures but exclude or include different items or use different computations. Management compensates for these limitations by reconciling these non-GAAP financial measures to their most comparable GAAP financial measures in the tables captioned “Reconciliations of Non-GAAP Financial Measures” included at the end of this release. Investors and others are encouraged to review the Company’s financial information in its entirety and not rely on a single financial measure.

 

Key Terms for our Key Metrics and Non-GAAP Financial Measures

 

Marketplace revenue: includes the sale of parts and assemblies on our platform.

 

Supplier service revenue: includes the sales of marketing and advertising services and, to a lesser extent, financial service products, SaaS-based solutions and the sale of tools and materials, which was discontinued during the second quarter of 2023.

 

Active Buyers: The Company defines “buyers” as individuals who have placed an order to purchase on-demand parts or assemblies on our marketplace. The Company defines Active Buyers as the number of buyers who have made at least one purchase on our marketplace during the last twelve months. We adjusted the number of our Q4 2023 active buyers in 2024 to reflect an immaterial correction.

 

Active Suppliers: The Company defines “suppliers” as individuals or businesses that have been approved by us to either manufacture a product on our platform for a buyer or have utilized our supplier services, including our digital marketing services, data services, financial services or tools and materials. The Company defines Active Suppliers as suppliers that have used our platform at least once during the last twelve months to manufacture a product.

 

Percentage of Revenue from Existing Accounts: The Company defines an “account” as an individual entity, such as a sole proprietor with a single buyer or corporate entities with multiple buyers, having purchased at least one part on our marketplace. The Company defines an existing account as an account where at least one buyer has made a purchase on our marketplace.

 

Accounts with Last Twelve-Month Spend of At Least $50,000: The Company defines Accounts with Last Twelve-Month Spend of At Least $50,000 as an account that has spent at least $50,000 on our marketplace in the most recent twelve-month period.

 

Active Paying Suppliers: The Company defines Active Paying Suppliers as individuals or businesses who have purchased one or more of our supplier services, including digital marketing services, data services, financial services or tools and materials on our platforms, during the last twelve months.

 

Adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA): The Company defines Adjusted EBITDA as net loss, adjusted for interest expense, interest and dividend income and other expenses, benefit for income taxes, and certain other non-cash or non-recurring items impacting net loss from time to time, principally comprised of depreciation and amortization, amortization of lease intangible, stock-based compensation, payroll tax expense related to stock-based compensation, lease abandonment, charitable contributions of common stock, income from unconsolidated joint venture, impairment of assets, restructuring charges, costs to exit the tools and materials business and acquisition and other adjustments not

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reflective of the Company’s ongoing business, such as adjustments related to purchase accounting, the revaluation of contingent consideration, transaction costs and executive severance.

 

Non-GAAP net income (loss): The Company defines non-GAAP net income (loss) as net loss adjusted for depreciation and amortization, stock-based compensation, payroll tax expense related to stock-based compensation, amortization of lease intangible, amortization of deferred costs on convertible notes, loss on sale of property and equipment, charitable contributions of common stock, lease abandonment and termination, impairment of assets, restructuring charges, costs to exit the tools and materials business and acquisition and other adjustments not reflective of the Company’s ongoing business, such as adjustments related to purchase accounting, the revaluation of contingent consideration, transaction costs and executive severance.

 

Non-GAAP Earnings Per Share, basic and diluted (Non-GAAP EPS, basic and diluted): The Company calculates non-GAAP earnings per share, basic and diluted as non-GAAP net income (loss) divided by weighted average number of shares of common stock outstanding.

 

 

Management believes that the exclusion of certain expenses and gains in calculating Adjusted EBITDA, non-GAAP net income (loss) and non-GAAP EPS, basic and diluted, provides a useful measure for period-to-period comparisons of the Company’s underlying core revenue and operating costs that is focused more closely on the current costs necessary to operate the Company’s businesses and reflects its ongoing business in a manner that allows for meaningful analysis of trends. Management also believes that excluding certain non-cash charges can be useful because the amount of such expenses is the result of long-term investment decisions made in previous periods rather than day-to-day operating decisions.

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About Xometry

Xometry’s (NASDAQ:XMTR) AI-powered marketplace, popular Thomasnet® industrial sourcing platform and suite of cloud-based services are rapidly digitizing the manufacturing industry. Xometry provides manufacturers the critical resources they need to grow their business and makes it easy for buyers to create locally resilient supply chains. The Xometry Instant Quoting Engine® leverages millions of pieces of data to analyze complex parts in real-time, matches buyers with the right suppliers globally, and provides accurate pricing and lead times. Learn more at www.xometry.com or follow @xometry.

Conference Call and Webcast Information

The Company will host a conference call and webcast to discuss the results at 8:30 a.m. ET (5:30 a.m. PT) on February 25, 2025. In addition to its press release announcing its fourth quarter and full year 2024 financial results, Xometry will release an earnings presentation, which will be available on its investor website at investors.xometry.com.

Xometry, Inc. Fourth Quarter and Full Year 2024 Earnings Presentation and Conference Call

Cautionary Information Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “would,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements in this press release include, but are not limited to, our beliefs regarding our financial position and operating performance, including our outlook and guidance for the first quarter of 2025 and the full year 2025; our expectations regarding our growth; and statements regarding our strategies, initiatives, products and platform capabilities. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks and uncertainties related to: competition, managing our growth, financial performance, our ability to forecast our performance due to our limited operating history, investments in new products or offerings, our ability to attract buyers and sellers to our marketplace, legal proceedings and regulatory matters and developments, any future changes to our business or our financial or operating model, our brand and reputation, and the impact of fluctuations in general macroeconomic conditions, such as fluctuations in inflation and rising interest rates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties that could cause actual results to differ from the results predicted, including those more fully described in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2024, our Quarterly Reports on Form 10-Q, and other filings and reports that we may file from time to time with the SEC. All forward-looking statements in this press release are based on information available to Xometry and assumptions and beliefs as of the date hereof, and we disclaim any obligation to update any forward-looking statements, except as required by law.

Investor Contact:	Media Contact:
Shawn Milne VP Investor Relations 240-335-8132 shawn.milne@xometry.com	Matthew Hutchison Global Corporate Communications 415-583-2119 matthew.hutchison@xometry.com

 

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Xometry, Inc. and Subsidiaries

Consolidated Balance Sheets

(In thousands, except share and per share data)

(Unaudited)

		December 31,
		2024				2023
Assets
Current assets:
Cash and cash equivalents		$	22,232			$	53,424
Marketable securities			217,603				215,352
Accounts receivable, less allowance for credit losses of $4.9 million and $2.4 million as of December 31, 2024 and December 31, 2023			73,962				70,102
Inventory			3,915				2,885
Prepaid expenses			4,954				5,571
Other current assets			4,874				8,897
Total current assets			327,540				356,231
Property and equipment, net			44,825				35,637
Operating lease right-of-use assets			8,462				12,251
Investment in unconsolidated joint venture			4,065				4,114
Intangible assets, net			32,139				35,768
Goodwill			262,686				262,915
Other assets			412				471
Total assets		$	680,129			$	707,387
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable and accrued cost of revenue		$	35,023			$	43,878
Other accrued expenses			24,401				22,677
Contract liabilities			7,948				7,357
Income taxes payable			979				2,484
Operating lease liabilities, current portion			6,436				6,799
Total current liabilities			74,787				83,195
Convertible notes			283,628				281,769
Operating lease liabilities, net of current portion			5,072				10,951
Deferred income taxes			229				275
Other liabilities			817				778
Total liabilities			364,533				376,968
Commitments and contingencies
Stockholders’ equity
Preferred stock, $0.000001 par value. Authorized; 50,000,000 shares; zero shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively			—				—
Class A Common stock, $0.000001 par value. Authorized; 750,000,000 shares; 48,289,274 shares and 45,489,379 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively			—				—
Class B Common stock, $0.000001 par value. Authorized; 5,000,000 shares; 1,475,311 shares and 2,676,154 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively			—				—
Additional paid-in capital			685,054				648,317
Accumulated other comprehensive (loss) income			(328	)			855
Accumulated deficit			(370,273	)			(319,872	)
Total stockholders’ equity			314,453				329,300
Noncontrolling interest			1,143				1,119
Total equity			315,596				330,419
Total liabilities and stockholders’ equity		$	680,129			$	707,387

 

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Xometry, Inc. and Subsidiaries

Consolidated Statements of Operations and Comprehensive Loss

(In thousands, except share and per share amounts)

(Unaudited)

		Three Months Ended December 31,								Year Ended December 31,
		2024				2023				2024				2023
Revenue		$	148,546			$	128,145			$	545,529			$	463,406
Cost of revenue			89,526				79,060				329,905				285,147
Gross profit			59,020				49,085				215,624				178,259
Sales and marketing			26,546				25,373				108,437				93,688
Operations and support			16,057				12,922				58,975				52,372
Product development			10,370				8,892				39,322				34,462
General and administrative			17,487				14,437				64,957				70,916
Impairment of assets			82				-				82				397
Total operating expenses			70,542				61,624				271,773				251,835
Loss from operations			(11,522	)			(12,539	)			(56,149	)			(73,576	)
Other income (expenses)
Interest expense			(1,188	)			(1,188	)			(4,752	)			(4,784	)
Interest and dividend income			2,507				2,959				10,782				11,607
Other expenses			307				(355	)			(757	)			(1,511	)
Income from unconsolidated joint venture			(41	)			9				452				446
Total other income			1,585				1,425				5,725				5,758
Loss before income taxes			(9,937	)			(11,114	)			(50,424	)			(67,818	)
Benefit for income taxes			41				561				21				353
Net loss			(9,896	)			(10,553	)			(50,403	)			(67,465	)
Net (loss) income attributable to noncontrolling interest			(7	)			(2	)			(2	)			7
Net loss attributable to common stockholders		$	(9,889	)		$	(10,551	)		$	(50,401	)		$	(67,472	)
Net loss per share, basic and diluted, of Class A and Class B common    stock		$	(0.20	)		$	(0.22	)		$	(1.03	)		$	(1.41	)
Weighted-average number of shares outstanding used to compute    net loss per share, basic and diluted, of Class A and Class B    common stock			49,606,759				48,096,142				49,082,722				47,914,039
Net loss		$	(9,896	)		$	(10,553	)		$	(50,403	)		$	(67,465	)
Comprehensive loss:
Foreign currency translation			(1,587	)			91				(1,157	)			849
Total other comprehensive (loss) income			(1,587	)			91				(1,157	)			849
Comprehensive loss			(11,483	)			(10,462	)			(51,560	)			(66,616	)
Comprehensive income (loss) attributable to noncontrolling interest			16				(16	)			24				29
Total comprehensive loss attributable to common stockholders		$	(11,499	)		$	(10,446	)		$	(51,584	)		$	(66,645	)

 

 

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Xometry, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

		Year Ended December 31,
		2024				2023
Cash flows from operating activities:
Net loss		$	(50,403	)		$	(67,465	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			13,012				10,738
Impairment of assets			82				397
Reduction in carrying amount of right-of-use asset			4,458				14,355
Stock-based compensation			29,322				22,118
Revaluation of contingent consideration			137				571
(Income) from unconsolidated joint venture			(42	)			(46	)
Donation of common stock			1,686				1,029
Loss on sale of property and equipment			3				92
Inventory write-off			—				223
Amortization of deferred costs on convertible notes			1,859				1,860
Deferred tax benefit			(46	)			(154	)
Changes in other assets and liabilities:
Accounts receivable, net			(5,749	)			(20,594	)
Inventory			(1,282	)			(1,550	)
Prepaid expenses			599				1,669
Other assets			4,213				(80	)
Accounts payable and accrued cost of revenue			(8,706	)			12,593
Other accrued expenses			2,681				1,603
Contract liabilities			681				(1,404	)
Lease liabilities			(6,911	)			(5,520	)
Other liabilities			527				-
Income taxes payable			(1,505	)			(312	)
Net cash used in operating activities			(15,384	)			(29,877	)
Cash flows from investing activities:
Purchases of marketable securities			(18,751	)			(11,582	)
Proceeds from sale of marketable securities			16,500				50,000
Purchases of property and equipment			(18,097	)			(18,486	)
Distributions in excess of earnings			90				—
Proceeds from sale of property and equipment			79				223
Cash paid for business combination, net of cash acquired			—				(3,349	)
Net cash (used in) provided by investing activities			(20,179	)			16,806
Cash flows from financing activities:
Proceeds from stock options exercised			5,104				1,909
Payment of contingent consideration			(465	)			(842	)
Net cash provided by financing activities			4,639				1,067
Effect of foreign currency translation on cash and cash equivalents			(268	)			(234	)
Net decrease in cash and cash equivalents			(31,192	)			(12,238	)
Cash and cash equivalents at beginning of the year			53,424				65,662
Cash and cash equivalents at end of the year		$	22,232			$	53,424
Supplemental cash flow information:
Cash paid for interest		$	2,875			$	2,875
Non-cash investing and financing activities:
Non-cash purchase of property and equipment			1,059				5,353
Non-cash consideration in connection with business combination			625				1,593

 

 

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Xometry, Inc. and Subsidiaries

Reconciliations of Non-GAAP Financial Measures

(In thousands, except share and per share amounts)

(Unaudited)

		For the Three Months Ended December 31,								For the Year Ended December 31,
		2024				2023				2024				2023
Adjusted EBITDA:
Net loss		$	(9,896	)		$	(10,553	)		$	(50,403	)		$	(67,465	)
Add (deduct):
Interest expense, interest and dividend income and other expenses			(1,626	)			(1,416	)			(5,273	)			(5,312	)
Depreciation and amortization(1)			3,390				2,799				13,012				10,738
Amortization of lease intangible			180				180				720				950
Benefit for income taxes			(41	)			(561	)			(21	)			(353	)
Stock-based compensation(2)			8,207				5,896				29,322				22,118
Payroll tax expense related to stock-based compensation(3)			89				—				965				—
Lease abandonment(4)			—				—				—				8,706
Acquisition and other(5)			—				481				686				824
Charitable contribution of common stock			623				333				1,686				1,029
Income from unconsolidated joint venture			41				(9	)			(452	)			(446	)
Impairment of assets			82				—				82				397
Restructuring charges(6)			—				—				—				738
Costs to exit the tools and materials business			—				—				—				586
Adjusted EBITDA		$	1,049			$	(2,850	)		$	(9,676	)		$	(27,490	)

 

		For the Three Months Ended December 31,								For the Year Ended December 31,
		2024				2023				2024				2023
Non-GAAP Net Income (Loss):
Net loss		$	(9,896	)		$	(10,553	)		$	(50,403	)		$	(67,465	)
Add (deduct):
Depreciation and amortization(1)			3,390				2,799				13,012				10,738
Stock-based compensation (2)			8,207				5,896				29,322				22,118
Payroll tax expense related to stock-based compensation(3)			89				—				965				—
Amortization of lease intangible			180				180				720				950
Amortization of deferred costs on convertible notes			465				464				1,859				1,860
Acquisition and other(5)			—				481				686				824
Loss on sale of property and equipment			25				—				2				92
Charitable contribution of common stock			623				333				1,686				1,029
Lease abandonment and termination(4)			—				—				—				8,778
Impairment of assets			82				—				82				397
Restructuring charges(6)			—				—				—				738
Costs to exit the tools and materials business			—				—				—				586
Non-GAAP Net Income (Loss)		$	3,165			$	(400	)		$	(2,069	)		$	(19,355	)
Weighted-average number of shares outstanding used to compute Non-GAAP Net Income (Loss) per share, basic and diluted, of Class A and Class B common stock			49,606,759				48,096,142				49,082,722				47,914,039
Non-GAAP weighted-average effect of potentially dilutive Class A common stock			2,656,165				-				-				-
Non-GAAP weighted-average shares used to compute Non-GAAP Net Income (Loss) per share, diluted			52,262,924				48,096,142				49,082,722				47,914,039
EPS, basic and diluted, of Class A and Class B common stock		$	(0.20	)		$	(0.22	)		$	(1.03	)		$	(1.41	)
Non-GAAP EPS basic and diluted, of Class A and Class B common stock		$	0.06			$	(0.01	)		$	(0.04	)		$	(0.40	)

 

 

 

Xometry, Inc. and Subsidiaries

Reconciliation of GAAP EPS to Non-GAAP EPS

(Unaudited)

 

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		For the Three Months Ended December 31,								For the Year Ended December 31,
		2024				2023				2024				2023
Non-GAAP EPS:
GAAP EPS, diluted, of Class A and Class B common stock		$	(0.20	)		$	(0.22	)		$	(1.03	)		$	(1.41	)
Non-GAAP effect of potentially dilutive Class A common stock			0.01				—				—				—
Add (deduct):
Depreciation and amortization			0.07				0.06				0.27				0.22
Stock-based compensation			0.16				0.12				0.60				0.46
Payroll tax expense related to stock-based compensation			—				—				0.02				—
Amortization of lease intangible			—				—				0.01				0.02
Amortization of deferred costs on convertible notes			0.01				0.01				0.04				0.04
Acquisition and other			—				0.01				0.02				0.03
Charitable contribution of common stock			0.01				0.01				0.03				0.02
Lease abandonment and termination			—				—				—				0.18
Impairment of assets			—				—				—				0.01
Restructuring charges			—				—				—				0.02
Costs to exit the tools and materials business			—				—				—				0.01
Non-GAAP EPS, diluted, of Class A and Class B common stock		$	0.06			$	(0.01	)		$	(0.04	)		$	(0.40	)

 

 

Xometry, Inc. and Subsidiaries

Segment Results

(In thousands)

(Unaudited)

 

		For the Three Months Ended December 31,								For the Year Ended December 31,
		2024				2023				2024				2023
Segment Revenue:
U.S.		$	123,614			$	110,574			$	456,727			$	403,289
International			24,932				17,571				88,802				60,117
Total revenue		$	148,546			$	128,145			$	545,529			$	463,406
Segment Cost of Revenue:
U.S.		$	74,010			$	68,137			$	274,838			$	247,519
International			15,516				10,923				55,067				37,628
Total cost of revenue		$	89,526			$	79,060			$	329,905			$	285,147
Segment Adjusted EBITDA:
U.S.		$	4,018			$	(763	)		$	167			$	(15,810	)
International			(2,969	)			(2,087	)			(9,843	)			(11,680	)
Total Adjusted EBITDA		$	1,049			$	(2,850	)		$	(9,676	)		$	(27,490	)

 

 

 

 

 

 

 

 

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Xometry, Inc. and Subsidiaries

Supplemental Information

(In thousands)

(Unaudited)

 

		For the Three Months Ended December 31,								For the Year Ended December 31,
		2024				2023				2024				2023
Summary of Stock-based Compensation Expense and Payroll Taxes Related to Stock-based Compensation Expense
Sales and marketing		$	2,233			$	1,456			$	8,233			$	4,909
Operations and support			2,739				2,029				9,582				7,719
Product development			1,834				1,455				6,881				5,345
General and administrative			1,490				956				5,591				4,145
Total stock-based compensation expense and payroll taxes related to stock-based compensation		$	8,296			$	5,896			$	30,287			$	22,118
Summary of Depreciation and Amortization Expense
Cost of revenue		$	182			$	52			$	731			$	172
Sales and marketing			798				782				3,185				3,162
Operations and support			34				32				139				174
Product development			2,166				1,976				8,078				5,974
General and administrative			210				(43	)			879				1,256
Total depreciation and amortization expense		$	3,390			$	2,799			$	13,012			$	10,738
Summary of Restructuring Charges
Sales and marketing		$	-			$	-			$	-			$	224
Operations and support			-				-				-				230
Product development			-				-				-				117
General and administrative			-				-				-				167
Total restructuring charge		$	-			$	-			$	-			$	738

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v3.25.0.1

Document And Entity Information	Feb. 25, 2025
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Feb. 25, 2025
Entity Registrant Name	Xometry, Inc.
Entity Central Index Key	0001657573
Entity Emerging Growth Company	false
Entity File Number	001-40546
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	32-0415449
Entity Address, Address Line One	6116 Executive Blvd, Suite 800
Entity Address, City or Town	North Bethesda
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20852
City Area Code	(240)
Local Phone Number	252-1138
Entity Information, Former Legal or Registered Name	Not applicable
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Class A common stock, par value $0.000001 per share
Trading Symbol	XMTR
Security Exchange Name	NASDAQ

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