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Mar 31, 2022
Xometry Q1 2022 Earnings Report
Xometry delivered strong growth, expanded marketplace to new geographies and extended the reach of AI driven quoting engine.
Key Takeaways
Xometry reported a strong first quarter in 2022, with revenue increasing by 90% year-over-year. The company expanded its marketplace and improved supplier services, contributing to a 235% increase in gross profit.
Revenue increased 90% year-over-year driven by rapid organic growth in marketplace and supplier services including Thomas.
Gross profit up 235% year-over-year due to AI pricing/supplier selection and additional supplier services.
Expanded marketplace to Spain and launched a local manufacturing network in China.
Expect revenue growth of 80-83% to $392-$400 million, driven by increasing active buyers and suppliers, added supplier services and revenue synergies with Thomas.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Xometry anticipates strong growth in 2022 and improving operating leverage. For Q2 2022, the company projects revenue between $91.5 million and $93.5 million, and Adjusted EBITDA between $(11.0) million and $(10.0) million. For the full year 2022, revenue is expected to be between $392.0 million and $400.0 million, with Adjusted EBITDA between $(36.0) million and $(32.0) million.
Positive Outlook
- Revenue is expected to grow between 80-83% year-over-year.
- Growth will be driven by increasing active buyers and suppliers.
- Growth will be driven by added supplier services.
- Growth will be driven by revenue synergies with Thomas.
- Operating leverage is expected to improve in Q2 2022 and through the second half of 2022.
Challenges Ahead
- Competition
- Managing our growth
- Financial performance, including the impact of the COVID-19 pandemic on our business and operations and our ability to forecast our performance due to our limited operating history and the COVID-19 pandemic
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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