Xometry, Inc. Reports Second Quarter 2021 Results


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

    Six Months Ended
June 30,
 
    2021     2020  
Cash flows from operating activities:      
Net loss $(22,765) $(14,726)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization  1,487   1,389 
Reduction in carrying amount of right-of-use asset  543   509 
Stock based compensation  2,480   386 
Non-cash interest expense  111   156 
Changes in other assets and liabilities:      
Accounts receivable, net  (6,874)  (768)
Inventory  778   (772)
Prepaid expenses  (5,270)  (3)
Other assets  500   13 
Accounts payable  7,522   (260)
Accrued expenses  (453)  2,080 
Contract liabilities     1,915       790  
Lease liabilities     (534 )     (444 )
Net cash used in operating activities     (20,560 )     (11,650 )
Cash flows from investing activities:            
Purchase of short-term investments     -       (17,711 )
Proceeds from short-term investments     -       28,571  
Purchases of property and equipment     (2,748 )     (1,966 )
Net cash (used in) provided by investing activities     (2,748 )     8,894  
Cash flows from financing activities:            
Proceeds from stock options exercised     1,332       163  
Proceeds from term loan     -       4,000  
Proceeds from other borrowings     -       4,783  
Payments on finance lease obligations     (6 )     (6 )
Payments in connection with initial public offering     (524 )     -  
Net cash provided by financing activities     802       8,940  
Effect of foreign currency translation on cash and cash equivalents     (17 )     (2 )
Net (decrease) increase in cash and cash equivalents     (22,523 )     6,182  
Cash and cash equivalents at beginning of period     59,874       40,122  
Cash and cash equivalents at end of period   $ 37,351     $ 46,304  
Supplemental cash flow information:            
Cash paid for interest   $ 659     $ 605  
Non-cash investing activity:            
Non-cash purchase of property and equipment   $ (150 )   $ -  
Non-cash financing activity:            
Non-cash amounts incurred in connection with initial public offering   $ (25,938 )   $ -  

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