|
Xometry, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) | ||||||||
| Nine Months Ended September 30, | ||||||||
| 2024 | 2023 | |||||||
| Cash flows from operating activities: | ||||||||
| Net loss | $ | (40,507 | ) | $ | (56,912 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Depreciation and amortization | 9,622 | 7,939 | ||||||
| Impairment of assets | — | 397 | ||||||
| Reduction in carrying amount of right-of-use asset | 3,328 | 13,257 | ||||||
| Stock based compensation | 21,115 | 16,222 | ||||||
| Revaluation of contingent consideration | 137 | 305 | ||||||
| Income from unconsolidated joint venture | (93 | ) | (137 | ) | ||||
| Donation of common stock | 1,063 | 696 | ||||||
| (Gain) loss on sale of property and equipment | (23 | ) | 92 | |||||
| Inventory write-off | — | 223 | ||||||
| Amortization of deferred costs on convertible notes | 1,394 | 1,396 | ||||||
| Deferred taxes benefit | (30 | ) | (66 | ) | ||||
| Changes in other assets and liabilities: | ||||||||
| Accounts receivable, net | (8,263 | ) | (14,873 | ) | ||||
| Inventory | (598 | ) | (17 | ) | ||||
| Prepaid expenses | 786 | 2,335 | ||||||
| Other assets | 4,354 | 1,395 | ||||||
| Accounts payable | (18,293 | ) | 640 | |||||
| Accrued expenses | 6,782 | 1,032 | ||||||
| Contract liabilities | 916 | 1,178 | ||||||
| Lease liabilities | (5,068 | ) | (3,845 | ) | ||||
| Other liabilities | 529 | - | ||||||
| Income taxes payable | (1,620 | ) | 160 | |||||
| Net cash used in operating activities | (24,469 | ) | (28,583 | ) | ||||
| Cash flows from investing activities: | ||||||||
| Purchases of marketable securities | (16,253 | ) | (8,630 | ) | ||||
| Proceeds from sale of marketable securities | 15,000 | 30,000 | ||||||
| Purchases of property and equipment | (13,560 | ) | (12,063 | ) | ||||
| Proceeds from sale of property and equipment | 79 | 223 | ||||||
| Cash paid for business combination, net of cash acquired | — | (3,349 | ) | |||||
| Net cash (used in) provided by investing activities | (14,734 | ) | 6,181 | |||||
| Cash flows from financing activities: | ||||||||
| Proceeds from stock options exercised | 3,215 | 1,428 | ||||||
| Net cash provided by financing activities | 3,215 | 1,428 | ||||||
| Effect of foreign currency translation on cash and cash equivalents | (6 | ) | (315 | ) | ||||
| Net decrease in cash and cash equivalents | (35,994 | ) | (21,289 | ) | ||||
| Cash and cash equivalents at beginning of the period | 53,424 | 65,662 | ||||||
| Cash and cash equivalents at end of the period | $ | 17,430 | $ | 44,373 | ||||
| Supplemental cash flow information: | ||||||||
| Cash paid for interest | $ | 2,875 | $ | 2,875 | ||||
| Non-cash investing and financing activities: | ||||||||
| Non-cash consideration in connection with business combination | — | 1,593 | ||||||
