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Mar 31, 2024
Xometry Q1 2024 Earnings Report
Xometry's Q1 2024 revenue increased driven by marketplace growth and gross profit also increased.
Key Takeaways
Xometry reported better than expected revenue driven by strong marketplace revenue growth. Marketplace growth was driven by robust growth in Active Buyers. The company expects current initiatives to continue to drive long-term growth.
Q1 revenue increased 16% year-over-year to $123 million driven by marketplace growth of 24% year-over-year.
Q1 gross profit increased 22% year-over-year driven by 37% growth in marketplace gross profit.
Q1 marketplace gross margin increased 320 basis points year-over-year to a record 32.0%.
Q1 Adjusted EBITDA loss improved by 37% year-over-year due to higher revenue, gross profit, and operating efficiencies.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Expect Q2 2024 revenue growth of 14%-16% year-over-year to $127-$129 million. Expect Q2 2024 Adjusted EBITDA loss of $6.0-$8.0 million. Expect fiscal 2024 marketplace revenue growth of at least 20% year-over-year and expect supplier services revenue to be down approximately 10% year-over-year. For fiscal 2024, we expect improved operating leverage as compared to fiscal 2023, partly offset by international and enterprise growth investments.
Positive Outlook
- Q2 2024 revenue growth of 14%-16% year-over-year
- Q2 2024 revenue between $127-$129 million
- Fiscal 2024 marketplace revenue growth of at least 20% year-over-year
- Improved operating leverage as compared to fiscal 2023
- Growth investments in international and enterprise
Challenges Ahead
- Q2 2024 Adjusted EBITDA loss
- Q2 2024 Adjusted EBITDA loss between $6.0-$8.0 million
- Fiscal 2024 supplier services revenue to be down approximately 10% year-over-year
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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