Xometry Reports Third 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)

   September 30,   December 31, 
   2022   2021 
   (unaudited)   (audited) 
Assets      
Current assets:      
Cash and cash equivalents $30,497  $86,262 
Marketable securities  310,694   30,465 
Accounts receivable, less allowance for credit losses of $1.6 million as of September 30, 2022 and $0.8 million as of December 31, 2021  50,889   32,427 
Inventory  5,632   2,033 
Prepaid expenses  7,675   6,664 
Other current assets  4,357   5,580 
Total current assets  409,744   163,431 
Property and equipment, net  16,303   10,287 
Operating lease right-of-use assets   23,299       27,489  
Investment in unconsolidated joint venture     4,298       4,198  
Intangible assets, net     40,287       41,736  
Goodwill     259,971       254,672  
Other assets     382       773  
Total assets   $ 754,284     $ 502,586  
Liabilities and stockholders’ equity            
Current liabilities:            
Accounts payable   $ 12,075     $ 12,718  
Accrued expenses     36,476       30,905  
Contract liabilities     10,600       7,863  
Operating lease liabilities, current portion     5,898       5,549  
Finance lease liabilities, current portion           2  
Total current liabilities     65,049       57,037  
Operating lease liabilities, net of current portion     13,513       16,920  
Convertible notes     279,441        
Income taxes payable     1,532       1,468  
Other liabilities     1,787       1,678  
Total liabilities     361,322       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 September 30, 2022 and December 31, 2021, respectively            
Class A Common stock, $0.000001 par value. Authorized; 750,000,000 shares; 44,721,409 shares and 43,998,404 shares issued and outstanding as of September 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 September 30, 2022 and December 31, 2021, respectively            
Additional paid-in capital     617,278       597,641  
Accumulated other comprehensive income (loss)     (492 )     149  
Accumulated deficit     (224,943 )     (173,341 )
Total stockholders’ equity     391,843       424,449  
Noncontrolling interest     1,119       1,034  
Total equity     392,962       425,483  
Total liabilities and stockholders’ equity   $ 754,284     $ 502,586  
             

Xometry, Inc. and Subsidiaries

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