Key Operating Metrics:
| As of September 30, | ||||||||||||
| 2021 | 2020 |
%
Change | ||||||||||
| Active Buyers(2) | 26,187 | 16,266 | 61 | % | ||||||||
| Percentage of Revenue from Existing Accounts(2) | 95 | % | 96 | % | (1 | )% | ||||||
| Accounts with Last Twelve-Months Spend of at Least $50,000(2) | 603 | 361 | 67 | % | ||||||||
(2) Amounts shown for Active Buyers and Accounts with Last Twelve-Months Spend of at Least $50,000 are as of September 30, 2021 and 2020, and Percentage of Revenue from Existing Accounts is presented for the quarters ended September 30, 2021 and 2020.
Subsequent to Third Quarter 2021
On November 1, 2021, the Company acquired certain assets and liabilities from Big Blue Saw LLC, subject to an Asset Purchase Agreement for total consideration of $2.5 million. The total consideration includes cash consideration at closing of $1.25 million, $250,000 of Class A common stock at closing and contingent consideration of $1.0 million.
On November 5, 2021, the Company acquired certain assets and liabilities from Fusiform, Inc. (dba FactoryFour), subject to an Asset Purchase Agreement for total consideration of $6.3 million. The total consideration includes cash consideration at closing of $1.9 million, $1.9 million of Class A common stock at closing and contingent consideration of $2.5 million.
Financial Guidance and Outlook:
| Q4 2021 | |||||||||
| (in millions) | |||||||||
| Low | High | ||||||||
| Revenue | $ | 60.0 | $ | 62.0 | |||||
| Adjusted EBITDA | $ | (12.0 | ) | $ | (11.0 | ) | |||
- In 2020, one customer, that produces masks, accounted for approximately 10% of our revenue in Q4 2020. Excluding revenue from that one customer, growth is expected to be between 75%-80% for Q4 2021, as compared to Q4 2020.
- The acquisitions of Big Blue Saw and FactoryFour are not expected to materially impact our Q4 2021 revenue and Adjusted EBITDA guidance.
Use of Non-GAAP Financial Measures
