Xometry Reports First Quarter 2023 Results

Xometry, Inc. and Subsidiaries
Unaudited Condensed Consolidated Statements of Cash Flows
(In thousands)

	Three Months Ended March 31,
	2023			2022
Cash flows from operating activities:	(unaudited)
Net loss	$	(18,343	)	$	(19,995	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		2,566			1,799
Impairment of assets		27			—
Reduction in carrying amount of right-of-use asset		1,935			1,765
Stock based compensation		4,694			3,456
Revaluation of contingent consideration		—			434
Income from unconsolidated joint venture		(66	)		(34	)
Donation of common stock		370			—
Unrealized loss on marketable securities		—			858
Non-cash income tax benefit		—			(559	)
Loss on sale of property and equipment		91			71
Amortization of deferred costs on convertible notes		466			312
Deferred taxes benefit		(23	)		(2	)
Changes in other assets and liabilities:
Accounts receivable, net		(2,804	)		(6,145	)
Inventory		133			(180	)
Prepaid expenses		185			567
Other assets		(3,687	)		(1,787	)
Accounts payable		(503	)		(2,752	)
Accrued expenses		(2,119	)		(2,843	)
Contract liabilities		1,436			2,145
Lease liabilities		(970	)		(1,369	)
Income taxes payable		157			—
Net cash used in operating activities		(16,455	)		(24,259	)
Cash flows from investing activities:
Purchase of marketable securities		(2,688	)		(280,091	)
Proceeds from sale of marketable securities		—			4
Purchases of property and equipment		(4,186	)		(2,543	)
Proceeds from sale of property and equipment		223			165
Cash paid for business combination, net of cash acquired		(3,349	)		—
Net cash used in investing activities		(10,000	)		(282,465	)
Cash flows from financing activities:
Proceeds from stock options exercised		483			1,263
Proceeds from issuance of convertible notes		—			287,500
Costs incurred in connection with issuance of convertible notes		—			(9,301	)
Payments on finance lease obligations		—			(2	)
Net cash provided by financing activities		483			279,460
Effect of foreign currency translation on cash and cash equivalents		15			(29	)
Net decrease in cash and cash equivalents		(25,957	)		(27,293	)
Cash and cash equivalents at beginning of the year		65,662			86,262
Cash and cash equivalents at end of the period	$	39,705		$	58,969
Supplemental cash flow information:
Cash paid for interest	$	1,438		$	—
Non-cash investing and financing activities:
Non-cash purchase of property and equipment		78			—
Non-cash consideration in connection with business combination		1,593			—

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 Next Page »