Xometry Reports Third Quarter 2022 Results

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

   Three Months Ended
September 30,
   Nine Months Ended
September 30,
 
   2022   2021   2022   2021 
          
Revenue $103,571  $56,727  $282,857  $151,238 
Cost of revenue  62,670   42,233   171,321   115,033 
Gross profit  40,901   14,494   111,536   36,205 
Sales and marketing  21,416   9,828   58,846   26,250 
Operations and support  11,620   5,775   36,158   15,594 
Product development  7,613    4,376       22,698       12,131  
General and administrative     15,126       8,778       43,143       18,343  
Impairment of long-lived assets     325       -       444       -  
Total operating expenses     56,100       28,757       161,289       72,318  
Loss from operations     (15,199 )     (14,263 )     (49,753 )     (36,113 )
Other (expenses) income                        
Interest expense     (1,194 )     (79 )     (3,172 )     (799 )
Interest and dividend income     1,344       417       1,914       457  
Other expenses     (289 )     (786 )     (1,733 )     (1,021 )
Income from unconsolidated joint venture     297       -       600       -  
Total other income (expenses)     158       (448 )     (2,391 )     (1,363 )
Loss before income taxes     (15,041 )     (14,711 )     (52,144 )     (37,476 )
Benefit for income taxes     -       -       559       -  
Net loss     (15,041 )     (14,711 )     (51,585 )     (37,476 )
Net (loss) income attributable to noncontrolling interest     (4 )     -       17       -  
Net loss attributable to common stockholders   $ (15,037 )   $ (14,711 )   $ (51,602 )   $ (37,476 )
Net loss per share, basic and diluted   $ (0.32 )   $ (0.33 )   $ (1.10 )   $ (1.87 )
Weighted-average number of shares outstanding used to compute
net loss per share, basic and diluted
    47,303,090       43,962,863       47,057,521       20,092,600  
                         
                         
Comprehensive loss:                        
Foreign currency translation   $ (559 )   $ (41 )   $ (573 )   $ (24 )
Total other comprehensive loss     (559 )     (41 )     (573 )     (24 )
Net loss     (15,041 )     (14,711 )     (51,585 )     (37,476 )
Comprehensive loss     (15,600 )     (14,752 )     (52,158 )     (37,500 )
Comprehensive income attributable to noncontrolling interest     14       -       85       -  
Total comprehensive loss attributable to common stockholders   $ (15,614 )   $ (14,752 )   $ (52,243 )   $ (37,500 )
                         

Xometry, Inc. and Subsidiaries

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