Xometry Reports First Quarter 2024 Results

Xometry, Inc. and Subsidiaries Reconciliations of Non-GAAP Financial Measures (In thousands, except share and per share amounts) (Unaudited)

	For the Three Months Ended March 31,
	2024			2023
Adjusted EBITDA:
Net loss	$	(16,604	)	$	(18,343	)
Add (deduct):
Interest expense, interest and dividend income and other (expenses) income		(1,156	)		(1,514	)
Depreciation and amortization⁽¹⁾		3,153			2,566
Amortization of lease intangible		180			333
Provision for income taxes		—			136
Stock-based compensation⁽²⁾		6,036			4,694
Acquisition and other⁽³⁾		686			30
Charitable contribution of common stock		343			370
Income from unconsolidated joint venture		(97	)		(66	)
Impairment of assets		—			27
Adjusted EBITDA	$	(7,459	)	$	(11,767	)

	For the Three Months Ended March 31,
	2024			2023
Non-GAAP Net Loss:
Net loss	$	(16,604	)	$	(18,343	)
Add (deduct):
Depreciation and amortization ⁽¹⁾		3,153			2,566
Stock-based compensation ⁽²⁾		6,036			4,694
Amortization of lease intangible		180			333
Amortization of deferred costs on convertible notes		464			466
Acquisition and other ⁽³⁾		686			30
Loss on sale of property and equipment		—			91
Charitable contribution of common stock		343			370
Impairment of assets		—			27
Non-GAAP Net Loss	$	(5,742	)	$	(9,766	)
Weighted-average number of shares outstanding used to compute Non-GAAP Net Loss per share, basic and diluted, of Class A and Class B common stock		48,577,980			47,699,561

EPS, basic and diluted, of Class A and Class B common stock	$	(0.34	)	$	(0.38	)
Non-GAAP EPS, basic and diluted, of Class A and Class B common stock	$	(0.12	)	$	(0.20	)

(1) 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.
(2) Represents the non-cash expense related to stock-based awards granted to employees, as included in the Company’s GAAP results of operations.
(3) Includes adjustments related to purchase accounting, the revaluation of contingent consideration, transaction costs and executive severance.

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