Xometry delivered a strong Q3 2024 with record revenue and gross profit, driven by significant marketplace and international growth. However, challenges remain in scaling supplier services and achieving international profitability. The overall sentiment is positive, with strong execution and growth initiatives paving the way for future success.

Company Guidance

During the Xometry Q3 2024 earnings call, the company provided guidance for the fourth quarter and full year 2024, highlighting several key metrics. For Q4 2024, Xometry anticipates revenue between $145 million and $147 million, with marketplace growth projected at 16% to 18% year-over-year. The company also expects to achieve a slight adjusted EBITDA profitability, an improvement from a $2.9 million loss in Q4 2023. For the full year 2024, Xometry forecasts marketplace growth in the range of 22% to 23%, surpassing their prior outlook of at least 20%, and projects overall revenue growth in 2025 to exceed that of 2024. Additionally, Xometry aims for adjusted EBITDA profitability for the entire year of 2025, driven by strong secular growth, increased operating leverage, and continued investments in AI-powered marketplace initiatives.

Record Revenue and Gross Profit

Q3 2024 saw Xometry achieving record revenue of $142 million and record gross profit of $55.8 million, representing a 19% and 21% year-over-year increase, respectively.

Marketplace Revenue Growth

Marketplace revenue grew 24% year-over-year to $127 million, driven by strong execution and accelerated international growth.

Gross Margin Expansion

Q3 marketplace gross margin expanded by 250 basis points year-over-year to a record 33.6%.

International Revenue Growth

International revenue grew 55% year-over-year, driven by strong growth in Europe and strategic expansions in Asia-Pacific.

AI-Driven Improvements

Investments in AI and machine learning have significantly enhanced pricing accuracy and supplier matching, contributing to gross margin improvements.

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Xometry (XMTR) Earnings, Revenues Date & History

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XMTR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 12, 2021	2021 (Q2)	-0.31 / -1.46	-0.138	-957.97% (-1.32)	―	―
Nov 10, 2021	2021 (Q3)	-0.28 / -0.33	-0.338	2.37% (<+0.01)	―	―
Mar 17, 2022	2021 (Q4)	-0.30 / -0.53	-0.23	-130.43% (-0.30)	―	―
May 11, 2022	2022 (Q1)	-0.35 / -0.27	-1.205	77.59% (+0.94)	―	―
Aug 10, 2022	2022 (Q2)	-0.32 / -0.18	-1.46	87.67% (+1.28)	―	―
Nov 10, 2022	2022 (Q3)	-0.22 / -0.11	-0.33	66.67% (+0.22)
Mar 01, 2023	2022 (Q4)	-0.28 / -0.29	-0.53	45.28% (+0.24)
May 10, 2023	2023 (Q1)	-0.25 / -0.20	-0.27	25.93% (+0.07)
Aug 09, 2023	2023 (Q2)	-0.20 / -0.14	-0.18	22.22% (+0.04)
Nov 09, 2023	2023 (Q3)	-0.12 / -0.05	-0.11	54.55% (+0.06)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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XMTR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 05, 2024	$22.06	$25.84	+17.14%
Aug 08, 2024	$11.39	$16.00	+40.47%
May 09, 2024	$15.47	$15.75	+1.81%
Feb 29, 2024	$30.09	$19.56	-35.00%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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