Xometry Reports Second Quarter 2022 Results

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share amounts)

   Three Months Ended
June 30,
   Six Months Ended
June 30,
 
   2022   2021   2022   2021 
          
Revenue $95,615  $50,589  $179,286  $94,510 
Cost of revenue  57,919   38,714   108,651   72,800 
Gross profit  37,696   11,875   70,635   21,710 
Sales and marketing  18,145   8,858   37,430   16,422 
Operations and support  12,180   5,489   24,538   9,820 
Product development  7,796   4,091      15,085       7,755  
General and administrative     15,057       5,238       28,017       9,562  
Impairment of long-lived assets     119       -       119       -  
Total operating expenses     53,297       23,676       105,189       43,559  
Loss from operations     (15,601 )     (11,801 )     (34,554 )     (21,849 )
Other (expenses) income                        
Interest expense     (1,209 )     (350 )     (1,978 )     (681 )
Interest and dividend income     474       -       570       -  
Other expenses     (482 )     (113 )     (1,444 )     (235 )
Income from unconsolidated joint venture     269       -       303       -  
Total other expenses     (948 )     (463 )     (2,549 )     (916 )
Loss before income taxes     (16,549 )     (12,264 )     (37,103 )     (22,765 )
Benefit for income taxes     -       -       559       -  
Net loss     (16,549 )     (12,264 )     (36,544 )     (22,765 )
Net income attributable to noncontrolling interest     4       -       21       -  
Net loss attributable to common stockholders   $ (16,553 )   $ (12,264 )   $ (36,565 )   $ (22,765 )
Net loss per share, basic and diluted   $ (0.35 )   $ (1.46 )   $ (0.78 )   $ (2.79 )
Weighted-average number of shares outstanding used to compute
net loss per share, basic and diluted
    47,074,246       8,390,088       46,932,702       8,158,753  
                         
                         
Comprehensive loss:                        
Foreign currency translation   $ 14     $ (13 )   $ (14 )   $ 17  
Total other comprehensive (loss) income     14       (13 )     (14 )     17  
Net loss     (16,549 )     (12,264 )     (36,544 )     (22,765 )
Comprehensive loss     (16,535 )     (12,277 )     (36,558 )     (22,748 )
Comprehensive income attributable to noncontrolling interest     37       -       71       -  
Total comprehensive loss attributable to common stockholders   $ (16,572 )   $ (12,277 )   $ (36,629 )   $ (22,748 )
                         
                         

Xometry, Inc. and Subsidiaries

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