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Jun 30, 2022
Xometry Q2 2022 Earnings Report
Xometry delivered accelerated marketplace growth and robust expansion in marketplace gross margin.
Key Takeaways
Xometry reported strong second-quarter results, with total revenue increasing by 89% year-over-year to $95.6 million. Marketplace revenue grew to $75.6 million, while supplier services revenue reached $20.0 million. The company's gross profit increased by 217% year-over-year to $37.7 million. Xometry also launched new products, including the Industrial Buying Engine and Workcenter, to provide integrated solutions for buyers and suppliers.
Marketplace growth accelerates: Revenue increases 89% year-over-year driven by accelerating marketplace growth as well as supplier services including Thomas.
Strong gross margin and gross profit trends driven by AI pricing/supplier selection and additional supplier services: Gross profit up 217% year-over-year. Marketplace gross profit increased 25% quarter-over-quarter.
Expect strong growth for balance of 2022: We expect revenue growth of 81-83% to $395-$400 million, driven by increasing active buyers and suppliers, added supplier services and revenue synergies with Thomas.
Expect further operating leverage: Q2 Adjusted EBITDA loss of $8.3 million, a $4.4 million quarter-over-quarter improvement. We expect operating leverage to further improve in the second half of 2022.
Revenue by Segment
Forward Guidance
Xometry expects revenue between $102.0 million and $104.0 million for Q3 2022 and between $395.0 million and $400.0 million for FY 2022. Adjusted EBITDA is expected to be between $(7.0) million and $(6.0) million for Q3 2022 and between $(33.0) million and $(31.0) million for FY 2022.
Positive Outlook
- Increasing active buyers and suppliers
- Added supplier services
- Revenue synergies with Thomas
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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