Xometry Reports Third Quarter 2024 Results

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2024			2023			2024			2023
Non-GAAP Net Income (Loss):
Net loss	$	(10,199	)	$	(12,010	)	$	(40,507	)	$	(56,912	)
Add (deduct):
Depreciation and amortization⁽¹⁾		3,213			2,478			9,622			7,939
Stock-based compensation ⁽²⁾		6,954			5,730			21,115			16,222
Payroll tax expense related to stock-based compensation⁽³⁾		96			—			876			—
Amortization of lease intangible		180			180			540			770
Amortization of deferred costs on convertible notes		464			466			1,394			1,396
Acquisition and other ⁽⁵⁾		—			117			686			343
(Gain) loss on sale of property and equipment		—			—			(23	)		92
Charitable contribution of common stock		406			326			1,063			696
Lease abandonment and termination ⁽⁴⁾		—			—			—			8,778
Impairment of assets		—			151			—			397
Restructuring charge ⁽⁶⁾		—			—			—			738
Costs to exit the tools and materials business		—			—			—			586
Non-GAAP Net Income (Loss)	$	1,114		$	(2,562	)	$	(5,234	)	$	(18,955	)
Weighted-average number of shares outstanding used to compute Non-GAAP Net Income (Loss) per share, basic and diluted, of Class A and Class B common stock		49,282,164			47,989,277			48,901,475			47,852,671

EPS, basic and diluted, of Class A and Class B common stock	$	(0.21	)	$	(0.25	)	$	(0.83	)	$	(1.19	)
Non-GAAP EPS, basic and diluted, of Class A and Class B common stock	$	0.02		$	(0.05	)	$	(0.11	)	$	(0.40	)

Represents depreciation expense of the Company’s long-lived tangible assets and amortization expense of its finite-lived intangible assets, as included in the Company’s GAAP results of operations.
Represents the non-cash expense related to stock-based awards granted to employees, as included in the Company’s GAAP results of operations.
In the second quarter of 2024, we changed the definition of Adjusted EBITDA and Non-GAAP Net Income (Loss) to exclude payroll tax expense related to stock-based compensation. For prior periods, this amount was considered de minimis and, accordingly, we have not adjusted the Adjusted EBITDA or Non-GAAP Net Income (Loss) amounts for such periods.
Amount is recorded in general and administrative and/or other expenses.
Includes adjustments related to purchase accounting, the revaluation of contingent consideration, transaction costs and executive severance.
Costs associated with the May 2023 reduction in workforce.

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