|
Xometry, Inc. and Subsidiaries
Unaudited Condensed Consolidated Statements of Cash Flows (In thousands) | ||||||||
| Nine Months Ended September 30, | ||||||||
| 2023 | 2022 | |||||||
| Cash flows from operating activities: | (unaudited) | |||||||
| Net loss | $ | (56,912 | ) | $ | (51,585 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Depreciation and amortization | 7,939 | 5,716 | ||||||
| Impairment of assets | 397 | 444 | ||||||
| Reduction in carrying amount of right-of-use asset | 13,257 | 5,351 | ||||||
| Stock based compensation | 16,222 | 14,048 | ||||||
| Revaluation of contingent consideration | 305 | 434 | ||||||
| Income from unconsolidated joint venture | (137 | ) | (100 | ) | ||||
| Donation of common stock | 696 | 2,272 | ||||||
| Unrealized loss on marketable securities | — | 1,659 | ||||||
| Non-cash income tax benefit | — | (559 | ) | |||||
| Loss on sale of property and equipment | 92 | 71 | ||||||
| Inventory write-off | 223 | — | ||||||
| Amortization of deferred costs on convertible notes | 1,396 | 1,250 | ||||||
| Deferred taxes benefit | (66 | ) | (2 | ) | ||||
| Changes in other assets and liabilities: | ||||||||
| Accounts receivable, net | (14,873 | ) | (19,032 | ) | ||||
| Inventory | (17 | ) | (3,680 | ) | ||||
| Prepaid expenses | 2,335 | (1,784 | ) | |||||
| Other assets | 1,395 | (3,922 | ) | |||||
| Accounts payable | 640 | (240 | ) | |||||
| Accrued expenses | 1,032 | 5,591 | ||||||
| Contract liabilities | 1,178 | 2,777 | ||||||
| Lease liabilities | (3,845 | ) | (4,219 | ) | ||||
| Income taxes payable | 160 | — | ||||||
| Net cash used in operating activities | (28,583 | ) | (45,510 | ) | ||||
| Cash flows from investing activities: | ||||||||
| Purchases of marketable securities | (8,630 | ) | (281,897 | ) | ||||
| Proceeds from sale of marketable securities | 30,000 | 4 | ||||||
| Purchases of property and equipment | (12,063 | ) | (9,608 | ) | ||||
| Proceeds from sale of property and equipment | 223 | 165 | ||||||
| Cash paid for business combination, net of cash acquired | (3,349 | ) | — | |||||
| Net cash provided by (used in) investing activities | 6,181 | (291,336 | ) | |||||
| Cash flows from financing activities: | ||||||||
| Proceeds from stock options exercised | 1,428 | 3,317 | ||||||
| Proceeds from issuance of convertible notes | — | 287,500 | ||||||
| Costs incurred in connection with issuance of convertible notes | — | (9,309 | ) | |||||
| Payments on finance lease obligations | — | (2 | ) | |||||
| Net cash provided by financing activities | 1,428 | 281,506 | ||||||
| Effect of foreign currency translation on cash and cash equivalents | (315 | ) | (425 | ) | ||||
| Net decrease in cash and cash equivalents | (21,289 | ) | (55,765 | ) | ||||
| Cash and cash equivalents at beginning of the year | 65,662 | 86,262 | ||||||
| Cash and cash equivalents at end of the period | $ | 44,373 | $ | 30,497 | ||||
| Supplemental cash flow information: | ||||||||
| Cash paid for interest | $ | 2,875 | $ | 1,414 | ||||
| Non-cash investing and financing activities: | ||||||||
| Non-cash consideration in connection with business combination | 1,593 | — | ||||||
