Xometry Reports Second Quarter 2022 Results

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

Xometry, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share and per share data)

   June 30,   December 31, 
   2022   2021 
   (unaudited)   (audited) 
Assets      
Current assets:      
Cash and cash equivalents $46,833  $86,262 
Marketable securities  309,830   30,465 
Accounts receivable, less allowance for doubtful accounts of $1.5 million as of June 30, 2022 and $0.8 million as of December 31, 2021  43,991   32,427 
Inventory  1,727   2,033 
Prepaid expenses  7,724   6,664 
Other current assets  4,118   5,580 
Total current assets  414,223   163,431 
Property and equipment, net  13,443   10,287 
Operating lease right-of-use assets  24,029    27,489  
Investment in unconsolidated joint venture     4,301       4,198  
Intangible assets, net     41,147       41,736  
Goodwill     259,971       254,672  
Other assets     627       773  
Total assets   $ 757,741     $ 502,586  
Liabilities and stockholders’ equity            
Current liabilities:            
Accounts payable   $ 14,175     $ 12,718  
Accrued expenses     29,157       30,905  
Contract liabilities     10,725       7,863  
Operating lease liabilities, current portion     5,723       5,549  
Finance lease liabilities, current portion           2  
Total current liabilities     59,780       57,037  
Operating lease liabilities, net of current portion     14,053       16,920  
Convertible notes     278,972        
Income taxes payable     1,532       1,468  
Other liabilities     1,789       1,678  
Total liabilities     356,126       77,103  
Commitments and contingencies            
Stockholders’ equity            
Preferred stock, $0.000001 par value. Authorized; 50,000,000 shares; zero shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively            
Class A Common stock, $0.000001 par value. Authorized; 750,000,000 shares; 44,545,080 shares and 43,998,404 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively            
Class B Common stock, $0.000001 par value. Authorized; 5,000,000 shares; 2,676,154 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively            
Additional paid-in capital     610,331       597,641  
Accumulated other comprehensive income     85       149  
Accumulated deficit     (209,906 )     (173,341 )
Total stockholders’ equity     400,510       424,449  
Noncontrolling interest     1,105       1,034  
Total equity     401,615       425,483  
Total liabilities and stockholders’ equity   $ 757,741     $ 502,586  
             

Xometry, Inc. and Subsidiaries

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