Xometry(XMTR) - 2023 Q4 - Annual Results

Financial Performance - Q4 2023 revenue increased 31% year-over-year to $128 million, driven by a 42$49.1 million, with marketplace gross margin improving by 500 basis points to 31.3%[5] - Adjusted EBITDA loss for Q4 2023 was $2.9 million, reflecting a$12.8 million year-over-year improvement[5] - Total revenue for the full year 2023 was $463 million, a 22$395 million, up 30% year-over-year[8] - Net loss attributable to common stockholders for the full year 2023 was $67 million, a decrease of$12 million year-over-year[8] - Revenue for Q4 2023 reached $128.145 million, a 30.7$98.061 million in Q4 2022[39] - Gross profit for the year ended December 31, 2023, was $178.259 million, up 22.1$145.991 million in 2022[39] - The company reported a comprehensive loss of $10.462 million for Q4 2023, compared to a loss of$25.322 million in Q4 2022[39] - For the full year 2023, total revenue was $463.406 million, a 21.6$380.921 million in 2022[48] - The full year net loss attributable to common stockholders was $67.472 million, an improvement from$79.059 million in 2022[48] Active Users and Marketplace Growth - Active Buyers in the marketplace increased by 36% year-over-year, from 40,664 to 55,458[6] - The number of Active Suppliers grew by 36% year-over-year, from 2,529 to 3,429[11] - Active Buyers have made at least one purchase in the last twelve months, while Active Suppliers have utilized the platform at least once during the same period[24][25] Future Projections - The company expects Q1 2024 revenue growth of 12%-14% year-over-year, projecting revenue between $118 million and$120 million[17] - Xometry expects Q1 2024 Adjusted EBITDA loss of $7.0-$9.0 million[22] - For fiscal 2024, marketplace revenue is expected to grow at least 20% year-over-year, while supplier services revenue is anticipated to decline approximately 10% year-over-year[22] - Xometry aims to achieve Adjusted EBITDA profitability in Q3 2024, with improved operating leverage offset by investments in international and enterprise growth[22] Cash and Assets - The total current assets decreased from $387.2 million in 2022 to$356.2 million in 2023[37] - Cash and cash equivalents decreased from $65.7 million in 2022 to$53.4 million in 2023[37] - Accounts receivable increased from $49.3 million in 2022 to$70.1 million in 2023[37] - Cash used in operating activities for the year was $29.877 million, a significant reduction from$62.575 million in 2022[42] - Cash and cash equivalents at the end of 2023 were $53.424 million, down from$65.662 million at the end of 2022[42] Liabilities and Deficits - Total liabilities increased from $362.3 million in 2022 to$377.0 million in 2023[37] - The accumulated deficit grew from $252.4 million in 2022 to$319.9 million in 2023[37] Stock-Based Compensation - The company incurred $14.355 million in stock-based compensation for the year, compared to$7.236 million in 2022, reflecting increased investment in talent[42] - Stock-based compensation expense for Q4 2023 totaled $5.896 million, compared to$5.124 million in Q4 2022[51] International and U.S. Revenue - U.S. segment revenue reached $110.574 million, up 25.5$87.995 million year-over-year[48] - International segment revenue increased by 74.5% to $17.571 million compared to$10.066 million in the same quarter last year[48] AI and Technology Initiatives - Xometry launched new features including a cloud-based collaboration tool and expanded AI-powered quoting capabilities[11] - Xometry's AI-powered marketplace is digitizing the $2 trillion manufacturing industry, providing critical resources for manufacturers[33]