| As of March 31, | |||||||||||
| 2024 | 2023 |
%
Change | |||||||||
| Active Buyers(3) | 58,504 | 44,451 | 32 | % | |||||||
| Percentage of Revenue from Existing Accounts(3) | 95 | % | 96 | % | |||||||
| Accounts with Last Twelve-Months Spend of at Least $50,000(3) | 1,381 | 1,109 | 25 | % | |||||||
| Active Paying Suppliers(3)(4) | 7,159 | 7,621 | (6 | )% | |||||||
| (2) These key operating metrics are for Marketplace and Supplier Services. See “Key Terms for our Key Metrics and Non-GAAP Financial Measures” below for definitions of these metrics. | |||||||||||
| (3) Amounts shown for Active Buyers, Accounts with Last Twelve-Months Spend of at Least $50,000, and Active Paying Suppliers are as of March 31, 2024 and 2023, and Percentage of Revenue from Existing Accounts is presented for the quarters ended March 31, 2024 and 2023. | |||||||||||
| (4) Excluding the impact of the exit of the tools and materials business, Active Paying Suppliers was down 2% year-over-year. | |||||||||||
Financial Guidance and Outlook:
| Q2 2024 | |||||||
| (in millions) | |||||||
| Low | High | ||||||
| Revenue | $ | 127 | $ | 129 | |||
| Adjusted EBITDA | $ | (8 | ) | $ | (6 | ) | |
- Expect Q2 2024 revenue growth of 14%-16% year-over-year to $127-$129 million.
- Expect Q2 2024 Adjusted EBITDA loss of $6.0-$8.0 million.
- Expect fiscal 2024 marketplace revenue growth of at least 20% year-over-year and expect supplier services revenue to be down approximately 10% year-over-year.
- For fiscal 2024, we expect improved operating leverage as compared to fiscal 2023, partly offset by international and enterprise growth investments.
