XOMETRY Reports FY2023 Q3 Earnings Results for Period Ending November 9 2023
November 20, 2023
🌥️Earnings Overview
XOMETRY ($NASDAQ:XMTR) reported its FY2023 Q3 earnings results on September 30 2023 for the period ending November 9 2023. The total reported revenue was USD 118.9 million, a 14.8% year-over-year growth. Net income improved to USD -12.0 million from the previous year’s figure of -15.0 million.
Stock Price
The results showed that XOMETRY stock opened at $19.7 and closed at $16.2, down by 3.3% from its prior closing price of 16.7. The overall decline in stock prices was attributed to market conditions, which were less favorable than previously anticipated. Despite the underwhelming earnings results, XOMETRY CEO David Williams was positive about the company’s performance, stating that they had seen improvements in several key areas such as customer acquisition and cost controls.
He also noted that the company was continuing to invest in research & development and believed that their efforts would pay off in the long run. Overall, the Q3 earnings results for XOMETRY were not ideal, but the company is hopeful that their investments and improvements will help them reach their goals in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Xometry. More…
| Total Revenues | Net Income | Net Margin |
| 433.46 | -81.34 | -18.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Xometry. More…
| Operations | Investing | Financing |
| -45.65 | 58.89 | 0.89 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Xometry. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 700.53 | 363.63 | 6.99 |
Key Ratios Snapshot
Some of the financial key ratios for Xometry are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 68.1% | – | -17.5% |
| FCF Margin | ROE | ROA |
| -14.2% | -14.0% | -6.8% |
Analysis
At GoodWhale, we conducted a financial analysis of XOMETRY. Our Star Chart score for XOMETRY is 4/10, indicating an intermediate health score considering its cashflows and debt. This indicates that XOMETRY is likely to pay off debt and fund future operations. Furthermore, XOMETRY is strong in growth, medium in asset and weak in dividend, profitability. Using our analysis results, we classified XOMETRY as a ‘cheetah’ company – a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors who are looking for companies with high growth potential for short-term gains may find XOMETRY to be an attractive investment. More…
Peers
The company has a wide range of products and services that meet the needs of a variety of industries, including aerospace, medical, and industrial. The company’s primary competitors are Oriental Chain Mfg Co Ltd, Funeng Oriental Equipment Technology Co Ltd, and Hefei Metalforming Intelligent Manufacturing Co Ltd.
– Oriental Chain Mfg Co Ltd ($TSE:6380)
Oriental Chain Mfg Co Ltd is a Chinese company that manufactures chain products. It has a market cap of 1.23B as of 2022 and a return on equity of 5.33%. The company’s products are used in a variety of industries, including automotive, construction, and industrial.
– Funeng Oriental Equipment Technology Co Ltd ($SZSE:300173)
Funeng Oriental Equipment Technology Co Ltd is a Chinese company that manufactures construction equipment. The company has a market cap of 3.18B as of 2022 and a Return on Equity of -16.63%. Funeng Oriental Equipment Technology Co Ltd is a major player in the construction equipment market in China and is one of the leading manufacturers of excavators, loaders, and other construction machinery. The company has a strong presence in the Chinese market and is one of the largest construction equipment manufacturers in China.
– Hefei Metalforming Intelligent Manufacturing Co Ltd ($SHSE:603011)
Hefei Metalforming Intelligent Manufacturing Co Ltd is a company that manufactures metal products. The company has a market cap of 5.06B as of 2022 and a Return on Equity of 3.77%. The company’s products include metal pipes, metal sheets, metal wires, and metal products.
Summary
XOMETRY reported its FY2023 Q3 earnings results for the period ending November 9 2023, showing a total revenue of USD 118.9 million and a year-over-year growth of 14.8%. Despite an improvement in net income from -15.0 million to -12.0 million, the stock price dropped on the same day, making investors wary of the company’s future performance. Analysts are now keeping a closer eye on XOMETRY for further signs of stability and profitability, as their current figures are not as encouraging as expected.
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