Xometry, Inc. Reports Second Quarter 2021 Results


Xometry, Inc. and Subsidiaries
Unaudited Pro Forma Condensed Consolidated Balance Sheet
(In thousands)

The following unaudited pro forma condensed consolidated balance sheet is provided to reflect our cash and capitalization had the IPO occurred on June 30, 2021. The following adjustments have been reflected in the pro forma balance sheet below:

  1. The issuance of 7,906,250 shares of Class A common stock in connection with the IPO and the receipt of $325.3 million of net cash proceeds;
  2. The repayment of our $15.9 million term loan outstanding;
  3. The reclassification and payment of all deferred IPO related costs recorded in Other current assets ($26.5 million) and Accrued expenses ($25.9 million) to Additional paid-in capital (not included is the payment of our remaining IPO related costs which we estimate to be between $3.4 million and $4.4 million);
  4. The conversion of 8,665,797 shares of our common stock to Class A common stock;
  5. The conversion of 27,758,941 shares of our convertible preferred stock to Class A common stock; and
  6. The exchange of 2,676,154 shares of Class A common stock held by our co-founders for an equivalent number of shares of Class B common stock.  


Xometry, Inc. and Subsidiaries
Unaudited Pro Forma Condensed Consolidated Balance Sheet - continued
(In thousands)

          Unaudited Pro
 
   Unaudited      Forma 
   Condensed       Condensed   
   Consolidated      Consolidated 
   Balance Sheet       Balance Sheet  
   June 30,       June 30,  
   2021    Adjustments    2021  
            
Cash and cash equivalents   $ 37,351     $ 309,399   (1)(2) $ 346,750  
Accounts receivable     21,432       -       21,432  
Other current assets     34,148       (26,462 ) (3)   7,686  
Total current assets     92,931       282,937       375,868  
                   
Property and equipment, net and operating lease right-of-use assets     9,913       -       9,913  
Other assets     2,639       -       2,639  
Total assets   $ 105,483     $ 282,937     $ 388,420  
                   
Accounts payable   $ 13,138     $ -     $ 13,138  
Accrued expenses     39,200       (25,938 ) (3)   13,262  
Other current liabilities     5,180       -       5,180  
Short-term debt     15,864       (15,864 ) (2)   -  
Total current liabilities     73,382       (41,802 )     31,580  
                   
Operating lease liabilities, net of current portion     1,573       -       1,573  
Total liabilities     74,955       (41,802 )     33,153  
                   
Convertible preferred stock - $0.000001 par value, 27,970,966 authorized, 27,758,941 issued and outstanding     160,713       (160,713 ) (5)   -  
Common stock - $0.000001 par value, 42,000,000 authorized, 8,665,797 issued and outstanding     -       -   (4)   -  
Preferred stock - $0.000001 par value, 50,000,000 authorized, none issued and outstanding, pro forma     -       -       -  
Class A common stock - $0.000001 par value, 750,000,000 authorized, 41,654,834 issued and outstanding, pro forma     -       -   (4)(5)   -  
Class B common stock - $0.000001 par value, 5,000,000 authorized, 2,676,154 issued and outstanding, pro forma     -       -   (6)   -  
Additional paid-in capital     4,315       485,452       489,767  
Accumulated other comprehensive income     227       -       227  
Accumulated deficit     (134,727 )     -       (134,727 )
Total stockholders' (deficit) equity     (130,185 )     485,452       355,267  
Total liabilities and stockholders' equity   $ 105,483     $ 282,937     $ 388,420  

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