Xometry reposted this
Sharing a note I sent to all employees moments ago ... Hi, everyone - Congratulations on a strong Q3! Earlier today, we announced our earnings for the quarter, and, once again, it was record-setting. In Q3, you helped us deliver: 👏 Record revenues of $142 million, up 19% year-over-year and driven by 24% year-over-year Marketplace growth 👏 Record gross profit of $55.8 million, up 21% year-over-year, driven by Marketplace gross profit growth of 34% 👏 Record marketplace gross margin of 33.6% powered by our proprietary AI technologies that deliver buyer-supplier optimization 👏 Record Supplier Services gross margin of 89.6% driven by our Thomas advertising business 👏 Record low Adjusted EBITDA loss of 0.4% of revenue, with adjusted EBITDA growing 85% year-over-year. As we mentioned on this morning’s earnings call, we expect to be slightly Adjusted EBITDA profitable this quarter. What’s more: International revenue grew 55% in Q3 from the same period last year and now accounts for 16% of our revenues. We continue to introduce local-language marketplaces and now operate 16 around the world. The number of active buyers on our marketplace jumped 24% year-over-year in Q3, and the number of customers who spent at least $50,000 with us on a trailing twelve-month basis jumped 23% in Q3 over the same period last year. We also continued rapidly expanding the number of suppliers on our marketplace, reaching more than 4,200 in the quarter. What’s driving our growth? Teamwork. Together, we’re driving deeper relationships with our customers, resulting in Xometry being directly embedded into our customers’ procurement systems and supply chain strategies. We’re rapidly expanding our menu of marketplace offerings, giving buyers more reasons to come to us and attracting suppliers at scale. We’re automating back-end processes, freeing us all to focus on what really matters – delivering a premium experience for buyers and suppliers. And we’re adding new local-language marketplaces – we’re now up to 16 worldwide transacting in 6 currencies. Your efforts are helping fuel our impressive progress – thank you! As I said at the end of Q2, no other company is digitizing manufacturing as rapidly as we are. The combination of our extensible technology platform, our expanding data lake, and our rapidly growing networks of buyers and suppliers – along with your dedication – will only further fuel our growth. I am proud of the collective efforts of our global team, and I thank each of you for your continued hard work and dedication. -Randy