XOMETRY Reports Q2 Earnings Results for Fiscal Year 2023
August 14, 2023
🌥️Earnings Overview
XOMETRY ($NASDAQ:XMTR) announced its earnings for Q2 of 2023 (ending June 30, 2023) on August 9, 2023. Total revenue was USD 111.0 million, growing 16.1% from the same quarter the year prior. However, net income decreased by -16.6 million to USD -26.6 million from the prior year.
Price History
On Wednesday, XOMETRY released their second-quarter fiscal year 2023 earnings report. At the open, XOMETRY stock was priced at $17.0, up 5.4% from the previous closing of 15.9 the day before. By market close, the stock had only slightly decreased to $16.7. XOMETRY reported a strong quarter, with revenue considerably higher than estimates. XOMETRY also announced several cost-cutting measures which resulted in a higher net income than anticipated.
The company’s positive performance has been attributed to its increased investments in digital transformation initiatives, which have allowed for greater efficiency and cost savings. XOMETRY’s investments in new software and technology have enabled them to streamline processes and increase sales and profits. Given XOMETRY’s strong quarter, investors are optimistic about the company’s future prospects. With their business growing and their investments paying off, the outlook is positive for XOMETRY and its shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Xometry. XOMETRY_Reports_Q2_Earnings_Results_for_Fiscal_Year_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 418.1 | -84.36 | -20.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Xometry. XOMETRY_Reports_Q2_Earnings_Results_for_Fiscal_Year_2023″>More…
| Operations | Investing | Financing |
| -50.99 | 59.94 | 1.46 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Xometry. XOMETRY_Reports_Q2_Earnings_Results_for_Fiscal_Year_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 708.48 | 366.01 | 7.13 |
Key Ratios Snapshot
Some of the financial key ratios for Xometry are shown below. XOMETRY_Reports_Q2_Earnings_Results_for_Fiscal_Year_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 68.1% | – | -18.9% |
| FCF Margin | ROE | ROA |
| -16.2% | -14.0% | -7.0% |
Analysis
At GoodWhale, we recently conducted an analysis of XOMETRY‘s financial health. According to our Star Chart, XOMETRY has an intermediate health score of 4/10 with regards to its cashflows and debt, which suggests that it is likely to sustain future operations in times of crisis. Looking at the company’s individual characteristics, XOMETRY is strong in growth, medium in asset and weak in dividend, and profitability. As such, we classify XOMETRY as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given XOMETRY’s classification as a cheetah, investors may find this company attractive if they are looking for high returns in the short-term, but want to be aware that it may be more volatile than some other companies. Investors who are interested in long-term stability may be more cautious and weigh up the risks before investing. 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 Q2 2023 earnings with an increase in revenue of 16.1% from the same quarter in the prior year. However, net income decreased to -26.6 million, a decrease of 16.6 million from the prior year. As a result, investors reacted positively to the news and the stock price moved up on the same day. XOMETRY appears to be in a strong position with growing revenues, however investors should pay attention to the company’s net income and take a closer look at its financials to determine if it is a long-term investment opportunity.
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