Xometry Q2 revenue up 23%, beats analyst expectations
Overview
Xometry Q2 revenue rises 23% yr/yr, beating analyst expectations, per LSEG data
Adjusted EPS for Q2 beats estimates
Adjusted EBITDA improves significantly, driven by marketplace gross margin expansion
Outlook
Xometry sees Q3 revenue of $167-$169 mln, 18-19% growth y-o-y
Company expects Q3 adjusted EBITDA of $4.0-$5.0 mln
Xometry raises FY 2025 marketplace growth outlook to 23-24%
Company expects FY 2025 supplier services revenue down ~5% y-o-y
Result Drivers
MARKETPLACE GROWTH - Q2 revenue driven by robust marketplace growth, with marketplace revenue up 26% yr/yr
ENTERPRISE EXPANSION - Strong enterprise growth and expanding networks of buyers and suppliers boosted marketplace revenue
GROSS MARGIN EXPANSION - Record marketplace gross margin of 35.4% contributed to increased gross profit
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $162.55 mln | $156.60 mln (10 Analysts) |
Q2 Adjusted EPS | Beat | $0.09 | $0.04 (9 Analysts) |
Q2 Adjusted Net Income | $4.68 mln | ||
Q2 Net Income | -$26.43 mln | ||
Q2 Adjusted EBITDA | Beat | $3.93 mln | $1.61 mln (8 Analysts) |
Q2 Gross Profit | $65.18 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the it services & consulting peer group is "buy"
Wall Street's median 12-month price target for Xometry Inc is $35.50, about 12.8% above its August 4 closing price of $30.97
The stock recently traded at 64 times the next 12-month earnings vs. a P/E of 77 three months ago
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