Xometry Reports Second Quarter 2023 Results

Xometry, Inc. and Subsidiaries
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,
 
   2023   2022   2023   2022 
   (unaudited)   (unaudited) 
Revenue $111,008  $95,615  $216,334  $179,286 
Cost of revenue  67,452   57,919   133,409   108,651 
Gross profit  43,556   37,696   82,925   70,635 
Sales and marketing  22,666   18,145   45,105   37,430 
Operations and support  14,220   12,180   26,828   24,538 
Product development  8,922     7,796       17,047       15,085  
General and administrative     25,582       15,057       41,539       28,017  
Impairment of assets     219       119       246       119  
Total operating expenses     71,609       53,297       130,765       105,189  
Loss from operations     (28,053 )     (15,601 )     (47,840 )     (34,554 )
Other income (expenses)                        
Interest expense     (1,193 )     (1,209 )     (2,391 )     (1,978 )
Interest and dividend income     2,959       474       5,654       570  
Other expenses     (576 )     (482 )     (559 )     (1,444 )
Income from unconsolidated joint venture     237       269       303       303  
Total other income (expenses)     1,427       (948 )     3,007       (2,549 )
Loss before income taxes     (26,626 )     (16,549 )     (44,833 )     (37,103 )
Benefit (provision) for income taxes     67       -       (69 )     559  
Net loss     (26,559 )     (16,549 )     (44,902 )     (36,544 )
Net (loss) income attributable to noncontrolling interest     (5 )     4       (4 )     21  
Net loss attributable to common stockholders   $ (26,554 )   $ (16,553 )   $ (44,898 )   $ (36,565 )
Net loss per share, basic and diluted, of Class A and Class B common stock   $ (0.55 )   $ (0.35 )   $ (0.94 )   $ (0.78 )
Weighted-average number of shares outstanding used to compute net loss per share, basic and diluted, of Class A and Class B common stock     47,865,990       47,074,246       47,783,235       46,932,702  
                         
Comprehensive loss:                        
Foreign currency translation   $ 224     $ 14     $ 359     $ (14 )
Total other comprehensive income (loss)     224       14       359       (14 )
Net loss     (26,559 )     (16,549 )     (44,902 )     (36,544 )
Comprehensive loss     (26,335 )     (16,535 )     (44,543 )     (36,558 )
Comprehensive income attributable to noncontrolling interest     19       37       24       71  
Total comprehensive loss attributable to common stockholders   $ (26,354 )   $ (16,572 )   $ (44,567 )   $ (36,629 )



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