XMTR - Earnings call transcript Q2 2022

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Operator

Good day, and thank you for standing by. And welcome to the Xometry Incorporated Second Quarter 2022 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers presentation there will be question and answer session. [Operator Instructions]. today's being that advice be conference record. is Please hand over Head to would Investor now speaker conference to like Milne, I your the today, Xometry. Relations, of Shawn Please go ahead.

Shawn Milne

QX you us and for morning, Call. thank on Good Xometry's XXXX Earnings joining

Executive me Rallo, and our Joining Jim Officer. Officer; our Financial Randy Altschuler, are Chief Chief

our we quarter the and year results XXXX. second for quarter today's call, financial guidance third During and the will review for discuss our full

our on by events before the risks to earnings we and that and not prospects. may. XX-Q a our uncertainties, and is in filings call, press statements, available for such operating results. in make to prepared to of future differ the Non-GAAP a long-term not changes a financial and These GAAP on risks which cause believe, these expected and with reconciliation non-GAAP are refer investor our as could strategy, actual will to these means presentation, non-GAAP to website. of performance and to statements to To the them measures, be today's that, reliance Such distributed forward-looking like identified subject or future included investors.xometry.com. release period-to-period our would of on related today substitute duty ended in measures of XX, information, market quarter today's no non-GAAP distributed to I in and and use both posted terms IR our A to or GAAP. undertake any expect, in be turn you We measures which today's the with new During opened are of including also Investors materially growth as performance call, financial forward-looking SEC those accordance our be website filed press section With financial at business, point may statements overall the concerning to future intend decision-making expectations. earnings comparisons. our results, of to replay of results. call presented addition forward-looking We'd financial release will and June over Form statements see report also please update today Randy. internally available the the we the statements purposes from for to will that on caution result superior U.S. We in are place call as undue SEC. or will Information and out like obligation financial statements measures as evaluate XXXX, our

Randy Altschuler

for Good for us morning, everyone, QX, you XXXX and earnings Shawn. Thanks, joining call. thank our

strong with profit and revenue are reduced $X.X year-over-year QX. record gross quarter positive to We an million to XXXX. We in million, pleased XXX% report progress gross quarter-over-quarter deliver significant growth loss being EBITDA revenue XX% adjusted in adjusted We our to EBITDA making profits. another $X.X and growth by

world. digital of marketplace, the largest rapidly build on are our leading to We manufacturing industries mission transforming a one the global in delivering

the Xometry breadth XXXX services. QX, of through to processes, positioned uniquely Xometry are in become Xometry innings that more deliver suppliers of of all manufacturing, thing their meet meet aim the for At and end over choices, our new increasingly secular the digital to not with needs companies currently enabled to of software summit shift One-Stop early and we By Fortune their strategies. the is our supply will true still their suppliers, we're their Xometry Xometry the of to to and positioned uniquely platform are the releases While manufacturing suppliers and to for for and be Likewise, rethinking of platform our growing showcase providing we facto of the connect chains are de $X thousands to suppliers. hundreds whom we product our more first hosted cloud-based suite the verticals, trillion across needs partners. capabilities. system to our With needs. buyers gradually we buyers The operating suppliers increasingly operating Shop capture for Workcenter, for market. system of of in same our is their become many spend, the

suppliers. will center find to those opening grow ways can to to to additional up provide the applications integrated third benefit work suppliers, exponentially. size our party supplier are We developers base If create to value we of

I see deliver the did very who durable later detail the events Since irrespective environment. macro years, marketplace grown XXXX, archived@live.xometry.com. has call. quickly. This growth, during Xometry the that the these our For launches continued has event, is in discuss disruptive our the over can it not will unimpeded growth those proving two last in in more of founding

pricing time, driven domestically unique AI pricing provides inflation. and and predictable abroad, we of to weekly their expanding with even buyers periods Our network our our customers supplier to and offer chain. updates real ability supply suppliers during model Likewise, margins, and reliable in match resilient

automotive, Then, of growing America services. recent adding QX over manufacturing and XX% we processes our active We North increased strength review supplier results, increased of buyers our by of automation, multiple accounts to consists buyers of industrial expanding $XX.X revenues revenue spend across by active year-over-year accounts many XXX year-over-year both business, call semiconductors, Xometry electronics QX. Europe. provide accelerated the in a revenue experienced strong the as buying Jim update to turn financial launches QX. on strength entirely XX marketplace. CFO a including of review larger growth our QX and addition Thomasnet on Xometry verticals and an strong record marketplace marketplace Marketplace Marketplace a XX% to Rallo provide revenue I will our and and adding had financial different X,XXX in with XX% key million of historical the of accounts adoption continued initiatives, the ongoing of in of was on results performance offered QX, and I and at more the and least robotics business number Likewise, $XX.X excluding Thomas. strong of QX will with driven quarter-over-quarter. over including year year-over-year driven supplies for engine the saw the across $XX,XXX Moving last growth services In in and record growth The second a as well growth to Workcenter. months our quarter a We with the manufacturing. outlook. million, general in XX% by over was platform new and rapid in-depth XX,XXX, year XXX, in

call, molding vehicle QX see orders several to for and As customers we electrical we've in continue from growing agriculture, across industries an and and discussed assemblies production robotic our traction company. including injection manufacturing in processes,

Given the supplier we and which was Thomas services of success December for sales supplies enabling of revenue plus in convenient vast we services. majority the manufacturers services We engine. to including expand operations. supplier historical marketing acquired a and their to Xometry advertising $XX invest supplies, services continue financial in cost Thomas QX provide and lower access strategy, to million, business, of land revenue The our enterprise XXXX. is

services, FinTech their With products. We including our baskets also advertising supplier solutions. and improve basket Thomas, flow we've growing marketing cash of through expanded our

margins, revenue France growth, gross growth, deliver In our to year-over-year. to expand geographies. in expanded Germany, continues rapidly strong the success demand continues our business we strong sales across line international XXX% Nordic regions. further Our and with Europe underscoring for Alongside increasing marketplace presence QX, UK, and top the

launched formally platform April. Xometry.asia we began the China from taking addition, In customers in orders late QX at and in in Chinese

continue QX, quarter-over-quarter increase up contribute in and in the significant margin We to growth, supplier points In profit base driven team basis expect are XX.X% by margin year-over-year. China revenue to XXXX. top and country pleased QX, margin of revenue of to grew significantly with and launch gross gross addition XXX% increased and improvements gross XXX services. the marketplace in suppliers initial to higher marketplace in growth strong the On scale and year-over-year

marketplace three XX% have to XXXX now XX%. past grown in margins the Over close to gross years, from to

and thomasnet.com. buyers buy The On to driving of integrating States and gross off learning customers At a supply and the ramp United the scale, once to we machine heart convenience match and up source Engine to Tomorrow's improve Buying new event, integrated is want who into combination suppliers Buying our options. create margins. Industrial The and network process, of to results, continue of strong networks. buyer provides target quality of release Suppliers to customer ability to we summit and the engine within products time Xometry's On significant our network competence an our gross from long history, of gets The At Xometry the the margin marked through top first secure choice, scale The margins. platform of together marketplace XX% and as services and Xometry's active taking our thomasnet.com. chains. customers of from ecosystem. locally time, helps high in payment suppliers, smarter, successfully exposure in convenient on helping demand Engine Xometry's helping of advantage now. resilient Chain". Supply buyers request-for-quote grow, further largest benefit continues with announced in to QX It supply for hosted unique suppliers, our including enterprise enables Industrial term payment With to which solution matches benefits real instant trusted gross was and gives of provide time, suppliers, Buying networks Industrial thomasnet.com same buyers expanding cumbersome of suppliers supplier suppliers and factors transactions our digitizes internationally, As buyers, also from those with all of work us product the support. in the for for marketplace it and becomes better and and theme additional as and we reaching consuming quoting improve the it options what marketplace XX, come and can introduce Engine XX%. the take these suppliers high launch schedule and our number further buyers match checkout, value our the the and "Powering purchase and the June Xometry and buyer done financial large a we to

Engine, an revenue incremental the and creating stream on thomasnet.com. we're With scalable Industrial Buying

activity are pace, on buyer and the of a funnel, the we're to platform beginning in top as We are at Buying good number scale is early with the and from Engine initiated engagement demand the suppliers. increased of projects at the pleased Industrial seeing seeing healthy

developed Thomasnet, all was manufacturers software financial changes making system.By to optimize As attract we execution brings to cloud-based focus services, Xometry about software in digitize featured user everything version their review and suppliers and view summit, buyers. and from the introduce do new digitizing the the business of experience data one-stop into and the our on suppliers to they fully to to manufacturing operation. QX Xometry, gives love the operations, suppliers at they to XXXX. about The what easy feedback our board their love regularly Also we grow like of buyers acquisition lets a aspects all system that of we everything Workcenter all of our receive their with flows. one new IBE, use is in a to freemium popular transaction all need of orders. it Workcenter job our suppliers into their the FactoryFour help Workcenter and aspects are all-in-one

Through finances all work Workcenter suppliers including suppliers manage love are their and Advance of in track that dashboard, can of Xometry our suppliers One InstantPay, to Card the is from work, can shop integrated of Xometry customers. flow the advantage products. Workcenter. our benefits use All best FastPay seamlessly features take their the of and cash payouts, non know it the financial

and active launch. are pleased adoption with of since suppliers the workcenter We the

innovative supplier base API-enabled the we workcenter provide the even a developers. third-party and more rapidly up opening services. products with we're expanding can expanding By to Additionally, ecosystem,

Buyers one-stop the extending Additionally, from capabilities marketplace, menu can processes on include our in categories choose categories The production to new and buyers. our marketplace increasingly These and new expanded quoting the on data Network. into suppliers and tube we ability based a the processes. become offer and from expanded bending. Thomas tube processes cutting QX, late for our orders, the improve shop laser

growth. We limitless This deliver have suppliers. our expand fuel domestically and services opportunities to our year see will to abroad marketplaces buyers us and additional and

massive industry. the trillion $X in $XX Our trillion TAM global is manufacturing over

further a In same that grow on $XXX million. gross $XXX invest million. we gross over our expansion. revenue to XXXX, two time, nearly to At with capitalize continue our fourfold will marketplace. In leading position expect sided tripled expect We to profit to as was a we XXXX, margin significant dollars the

adjusted We look turn path at our on Jim CFO, business I and our financial will for EBITDA are well profitability. that, to Rallo, to the a quarter over second With outlook. results closer call the

Jim Rallo

morning Thanks, everyone. Randy. And good

Marketplace spending that expand XX% existing services, and $XX.X sold we service QX, was the QX by and driven and believe and the business the leads revenue we Starting for significant expecting an number XX% buyers the XX% the and marketplace transparency visibility QX, revenue an platform. million. with XXX increase additional revenue was the was for as QX, increase from business existing the disclosure a Thomas and with QX an our year-over-year. predictability. of points marketplace of from profit million, mentioned, model well our a year-over-year strong cost $XX of revenue substantial quarter-over-quarter. underlying profit of buyers and time. was gross number gross efficiency year-over-year, margin platform over and months existing QX accounts account strong their revenue from million Once services. engagement of of marketplace supplier gross million, our profit last purchase of increasing generated financial provides XX% and reflects activity to account as QX the XX.X%. platform, accounts addition buyers at was stickiness provide $XX,XXX underscoring we're spend on XX.X%, continued Randy supplier increase percentage had of we that up account was of $XXX spend In end to us repeat activities up spend increasing aim supplier active $XX.X As for The XXXX. growth revenue joins time. for second results, strong accounts growth of our active the with balance XX,XXX. at least by reached up strength gross in and was on of We revenue over relationship XX $XX.X growth including and We of QX year-over-year, driven marketplace XXX% to each. and the goods XXXX increased margin basis quarter and

of margin marketplace suppliers driving to Thomas transactions the machine and high by and and advertising XX.X%, supplier scale, our better we matches, was services expand our driven time. network for services. continues the and grow, number margin financial As our marketing as as gross gross QX gross our of over growing of margin smarter, learning becomes services increasing

marketing investment public investments XXX% to driven continued network addition additional to in of buyers incremental expenses expenses acquisition. growth accounting a the GAAP company costs. marketing on support non-GAAP one-time were largest and year-over-year million expand on The addition marketing sellers non-cash and to QX million marketing and QX and of compared $X.X sales measurement $XX Moving and million the sales sales stock-based benefit and and hiring purchase our excluding our of In and in Thomas, expenses one-time as benefit, million non-GAAP compensation expand year-over-year by our expenses in were to Thomas and land strategy. non-GAAP $XX QX, related costs. costs, amortization increased QX driven increase for strong including to sales XXXX. basis a was variable and total our the salespeople Within $X.X by operating operating sales to the Thomas $XX.X marketing component. continued expenses, the of operating QX business is in million,

loss Our adjusted XX.X% revenue $X.X for X.X% or of revenue was XXXX. QX, compared million with EBITDA QX of in

time QX QX. the non-cash One does not one GAAP benefit. include quick EBITDA EPS Our in note adjusted $X.X on accounting million

charitable to contributions As part we the xometry.org of organizations. of IPO, for the XXX,XXX capitalization, shares approximately or X% pledged to nonprofit company's

we result, recorded of record a not which windows. and administrative trading did EBITDA. from million charge we due general to In expenses, a a we in QX is restrictions non-operating on adjusted excluded a six-month charge $X.X as charge As QX record

was from and segment our million international $X.X operating U.S. $X.X and reporting. international million In QX, QX U.S. for million respectively. and $XX.X respectively. Turning and to from segments Segment million revenue our was loss operating segments $XX.X

We cash securities marketable continue equivalents grew to with business, invest in which our in and improving $XXX.X. of were international At quarter, cash XXX% gross QX margins. year-over-year second end the and the

on moving guidance. Now to

to XXXX loss QX, range adjusted range In to XX% million QX, or in X% in year-over-year expect revenue million, QX, X% We XXXX. revenue to expect the million, of representing loss $XXX or of XX%. EBITDA compared of be in XX.X% to we $X $XX $X the $XXX to of a of growth to million

revenue as to reminder, be a than we QX slightly which at to exclude supplier EBITDA. marketplace stock-based $X QX. we be million, total rate services, As a compensation QX, approximately gross grows faster to than expect adjusted expense will we would million expect In $X lower in from margin

year fiscal the representing million. XX%, $XXX to versus to our the growth end guidance guidance, revenue million now of expect bottom raising million $XXX revenue and year-over-year $XXX XX% range of XXXX, prior For to are of million, $XXX we of in

revenue to strong the growth XX% range in expect for marketplace We XX% year-over-year.

million. expect versus range to be margin from are trends We guidance of to expected our in million gross to of a EBITDA of range fiscal to the adjusted XX% based to XX.X% than for XXXX loss better raising We XX% million prior XX% year $XX to million for our gross our loss marketplace XXXX on from $XX margin, $XX $XX

forward going costs company from and improve profit anniversary our of by growth driven IPO. June and to the gross public XXXX leverage operating expect revenue our We strong

With you the can basis operator, an on to open be XXXX. We profitable questions. please for EBITDA that, call for adjusted expect up

Operator

William Thank [Operator Instructions] Drab you. question first Our Brain from comes Blair. with

line is Your now open.

Brain Drab

the what good you the also can wondering, Workcenter, Workcenter to And rate then, has Engine? in How you Buying does get mechanics how I Congrats great reception the just adoption just and exactly Industrial how you're traction adoption talk was the do that Hey, work? that? And about -- use and the a with on been quarter. someone getting you the morning. or there? bit momentum more little the have

Randy Altschuler

Sure.

Randy. -- This So me Brian, and let is morning. good

half the second first take to me and one. I'll back the question, let the So second go then

about be the for suppliers So as single intending glass with Workcenter we of with Xometry and pane working we're to Brian, that are talked Thomasnet.

So from they're own for jobs getting in And its manage you're Engine to as that see be you'll to to on Xometry their there a Network, work important, getting see Buying And the orders likewise, using Industrial also if equally Thomasnet, they'll able Workcenter. work going well. it they're Workcenter.

them giving -- free a them in at execution offering of thousands no we're have we're hundreds So, of of Thomasnet, version of manufacturing got we've many system all, manufacturers and that.

people transitioning strong well. things reception and we've to so far. move We're Thomasnet been suppliers, have we been from we're continue managing great our suppliers and more and the continuing that on what to expect develop gotten to And as moving encouraged the system by And a adoption. we'll we've we've away it. there we've had very seeing. Xometry, old been So, more our But also

Buying which that's got I on the we've IBE, -- Thomasnet. terms Industrial in IBE, my the now In Engine, and of mentioned the as

in June. launches QX. buyer number good out active As very at prepared the activity at our end product in early be top of in And that reflecting just we We of the July. including funnel pace IBE. remarks, the We’ll from I the it seeing part, of the a expect mentioned rolled of recent buyers we're launch strong new in my

supplier be And active there. we you So reflecting buyer number showing and evaluate progress in then the XXXX. end we're the will likewise, see QX again, at be metrics when for year, that a provide that should this set the of of will making

of in the then out success and Workcenter. suppliers to various come our metrics IBE and XXXX including start we'll So, giving services, measure

Brain Drab

There you're people the that Okay. it's Obviously, margin that. are very it going in Thanks, of to that able marketplace to do Randy. gross you're a continue lot weren't I'll impressive to pass be climb. on. sure

So, congrats.

Randy Altschuler

Thanks so much, Brian.

Operator

Thank question question. the with next of Matthew from line you. Capital our for next One RBC comes And our Markets. moment Hedberg

Your line open. is

Matthew Hedberg

my Hey, Randy, great. questions. just for the last taking Thanks on maybe dovetailing question. guys

cross-sell contextualize milestones of Because think like more the maybe sort as feels be opportunity sellers I feels just what selling obviously cross-sell. at bring of XX%, that time looking you cross like like Workcenter philosophically next even sort of over, significant. about bit and for we at from some just beneficial. sort look you, and evolution over you're Can of perhaps, bringing all sort maybe the the thinking it's could of buyers of Thomas, you're Can don't on ability Thomas little it if to know, horizon? a But you Thomas? and it I like, how sort of

Randy Altschuler

Yes.

XXXX, I look, think what that new about. we've from we're And as you going think XX% we're growth we XX%. in sort this in that talked I historical up year. and and to the that at from feel will in seeing an synergies. think acquisition, in part of from Brian, of revenue Thomas number date, that I buyers before, revenue had increase the year, a reaching organically, on and also So, in where good I really buyers, is stronger And we historically. are, you're this $XXX was development, marketplace delivered the buyers than to particular to sort financially, time the synergies expect we're go particularly about we to And strong terms be guiding is we've targets think product good saying good are And of increase be we we to just that we And the what we our in revenue million a second had indication to products. reflects back QX. half getting XXXX. adopting perspective, overall, news a XX%, goals our active from buyer just, to just grew those I several that's finding Thomas when in the of of And are of benefiting, that to that product And base be

I end to the year, it. we're as out mentioned, services year report supplier And next feeling as of more on think So, have metrics overall. to good we'll I we some this about specific get

Matthew Hedberg

Got it.

maybe And Okay. then, mention curious, EBITDA. one little results no full sort for macros. or else was anything of maybe of just and on Strong we a on guidance little mean, bit revenue about sort year? comment adjusted or Jim. of supply macros like anything a year half that or raised bit I There second you both about and of really related of the I'm there sort the the was call. on of chain that as think anything saw think

Jim Rallo

us have seen that from a macro we not down. No, slowing Yes. anything standpoint

still So we're you at we're and size small. have, of again, the really the the I think, -- when just look opportunity, right, that our we market, TAM

of room So, lot we've grow. a to got

As a to more our we continue getting traction. we're roll lot out products,

you at added we look there. unbelievable buyers growth that If this quarter, the number of

If up well. buyer, you at that's revenue look as per

cylinders. now So all right firing really, on

Shawn Milne

thing Hey, we're basically Matt, your the in million of soaking keep headwind model mind the up FX year. $X it's in just Shawn Milne. second half to is, The only and in

the bottom so, end And range. the raised we of still

Matthew Hedberg

Thanks. that. Thanks Thanks. helpful. for Super

Operator

One you. next our Sheridan line from for our Thank And question with the Sachs. question. comes of next moment Goldman Eric

open. Your line now is

Eric Sheridan

thanks investors profitable. refresh to the and just of EBITDA details. up question, Maybe question. to of sort broader all some should blocks fiscal and understand XXXX? building watching the dollar the you be Can the for adjusted micro taking the path a for much in little for maybe following so goal bit of on for terms so And growth against then of leveraging we that a elements more business Thanks

AI broader will called possibly and the supply there we in a as amplifier deeper margin Thanks go a you gross the within tailwind and improve so should how a that ramp adjusted out margin. bridge matching As and for you on learning bit little of and machine Can about how think gross EBITDA? terms much. be that

Jim Rallo

a Yes. end told continue next Appreciate obviously what We've forward think the year for over to is fully the right? several people adjusted the next of we question. basis quarter, by the last that really Look, happen for I was profitable EBITDA on to the going quarters, full will year. be looking

revenue the good are margin that. making of driven and progress business. It's the increase profit phenomenal marketplace gross towards side on continued growth, being We by in

So, we're we that. to going continue believe do to

you the And line margin, getting increased lines. in our at look so, revenue, when top and the gross operating efficiencies profit we're

So this sales we've got good efficiencies and in marketing quarter. our

We expect say of rest lines. our get the synergies, leverage last I year analyzing went good or in is, company this what operating we We're would to public and good now our public costs, quarter.

leverage So, there we'll get some well. as

probably to profitable as in quarters. two last for think, next see or QX and be small EBITDA step have move year, function adjusted we again, we'd expect this And then continued move the loss you'll I year. QX So through a we as year, a through next

Randy Altschuler

let second just now, then, jump about is Randy context. gross question. And the provide again, some me just This half on Eric, of just And that profit. to

we If at look and the historical if were XX.X%. our QX year, And then, margin you is last gross we're gross XX.X%. look Xometry's overall at margin business, for the financial at which of Xometry in all excluding you products supplies marketplace, at

from a to and XXX be it's gross more points for -- that of over is got we've uptick. driven just clear, up margin we've got year. up that's growth this active And basis data, our by in marketplace buyers, and So and -- the QX huge also was more

So I XX.X% the we for And marketplace, really strong number. that XX.X% that had in versus at just last sorry, I'm year. growth misspoke, we're I'm sorry,

and that grow us and year, and to we're more machine an are profitability continue talk long continuing leverage as margins. the helps And we'll expect get we doing gross So getting a some the growth XX% get make and active we learning, enhance to algorithms gross to algorithms suppliers, those to important as right to we will that getting gross term margins. that. those as about big jump which the that helps in of that's see sure margin, of And component it provide data in goals more matching, to and that us next our XX% to that more

Operator

moment next question. One for you. thank And our

next Our question line UBS. Karl comes from Keirstead of the with

is line now Your open.

Karl Keirstead

as what Randy, that mentioned And shift called bit out you you anticipated remarks can Thanks. lumpiness. second last in mix your on those little orders. that a you if to in update XQ you. might create of Great. secure Did I'm wondering you phenomenon? of called is that an of a larger production in a fact, quarter, you a a half Thank phenomenon? or number more little give bit

Randy Altschuler

Yes.

that I think metric, LTM have good add you that year-over-year XX%. than look grew and we when XXX. think customers who $XX,XXX a more of record of Karl, And question in at added is number net a QX, I spends

see really to -- increasing So, in for to these to question, going casting, opportunities injection that we're as areas we're And in such growth back huge we're seeing metal are that. increased trend molding, for stampings. production activity continuing And orders continue a nice be die here. sheet

than So, a where we are. that I span is growth enlarge of think customers $XX,XXX more in good sense

Karl Keirstead

it. Got

Thanks. for And Okay. then Jim.

to guidance year full XX fairly to bumped. XX raised to gross material marketplace obviously You XX margins XX, from for the

durability If you change, would driving finger in on motivated that's be? one make the your it that to your the those you marketplace into what gross confidence half guidance thing put could that margins of second

Jim Rallo

Yes.

more the and the really right, look just more you suppliers. about for have, transactions when are matches data the better we it, our get, the we So, is at

supplier In base. addition, we to the continue grow

continued think So right again, on cylinders opportunity I firing with artificial intelligence we now. the see And all there.

Karl Keirstead

both. you terrific. Thank Okay,

Operator

David CL next King. from you. Silver with One Instructions] question our for The next Thank comes [Operator moment question.

Your line open. is now

David Silver

Yes. targeted buyers for but strategies But just a I instant of, Hi, of the And launched thinking and questions, adopt couple I'm morning. I the things, platform discussed you've very your couple about guess, platform, good recently, quote, the that product. example. had you've more Thomas for your to think on function your a I services. Workcenter

or the Workcenter let's software workplace, don't how you the In many are know, are can operations? actually people planning how out can but quote figure their into function? Or rate? people curious, words, Just system resource and it taking Thanks. other the I plugging many computer say, using you tell, instant adoption

Randy Altschuler

We Yes. to tracking carefully them. have those do We're metrics. access

end to we think are And as this adoption the look what good sort in sort visibility give people we're that reporting these at some report of the of take about, starting and on out -- talked making some by year, of XXXX we'll products. metrics a progress that we of the good just

tracking absolutely, so And reporting year, out we're them. have We're greater all So, be some visibility. we'll people over. next

Jim Rallo

Yes.

our So that's metric. being active the quoting, buyer at you David, by look when right, instant measured really

up buyers active XX%, up and revenue X.X%, well. We're they're buyer are $X,XXX for up buyer as now. quarter-over-quarter, is So right per year-over-year, over

David Silver

here. the how you eager side shifting moment. But advertising based say, I I the characterize And but sellers, guess, comments side marketplace, Thomas adopt, to on platform a that buyer have from would shifting seller let's over be Okay. been Xometry most just would activity to for of mean, the the of it your to

adoption seller about wondering just of I'm the marketplace So product?

Randy Altschuler

kind like business of I options, to operate different as Suppliers, well. to buyers, ways like purchase. their ways different both like think

work of Thomasnet. some via via work getting Xometry, the like some like idea getting So

So using is I single think opportunities, idea folks. and attractive both we're to a the [Indiscernible] glass offering as that painting we're WorkCenter

we're what by encouraged we're So saying.

Jim Rallo

I'd at David, rate the marketplace. increasing. the and seller. you When to you profit And margin The seller adoption again is again, point look gross

sellers profit the gross involved, drive better we can we the get the marketplace. margin throughout So more

David Silver

of area think or not useful of really where is a secure Randy, supply have you And new just then that the a fundamentally element, the let's less there, I comments, and Or big business? question. mean, an just wondering, another geographies same I'm pulls especially is a that poignant It And driving Absolutely. supply all so. penetration say, be maybe platform? noticed to supplier your there, where over has year macro chain in kind I resilience recent more a region? your I demand. particular I In But driver last pushes or focus to in to people the just chain overseas think balance about a maybe there's definitely be on not is that for for philosophical in when driver just And other options going or guess. is your particular? for in words, amount as local

Randy Altschuler

our XXXX. issues growth very And business we experienced during opened rapidly. rapidly environments. now durable growing the And, facing the Yes. and we grew company rapidly Look, this. Xometry the all and is in of Xometry we've think for started XXXX, We I doors in been sorts during when weren't obviously, today We grew with shutdowns during COVID.

a very two digital. so many to secular this we done marketplace. a And model. been in taking other And advantage of built we successfully are we're And sided durable the shift the leading think industries. really has I So

We here manufacturing the switch now for do this leader the are in same.

robust think, irrespective growth. environment, have I macro the So continue to Xometry of will

options. seeing one that we're that think, is I want customers thing

want local supply resilient that's want an We're China options opened we do. supply give and it's in to So it's these in they up if then Europe, they chain, North as to international. a China. sometimes of one whether America, what whether for also international endeavoring well. and an then to chains, option avail in have customers option And can to we've endeavoring locally now build is themselves we're And

I marketplace in the we And do think suits to supply chain with that. way their technology them just model, build enables giving that best. So have them our platform to and the options, customers extensible the

David Silver

very you much. Thank Okay.

Operator

Thank you. call. today's This concludes conference

Everyone may You disconnect. now have wonderful a day.

Xometry (XMTR) 10 Aug 222022 Q2 Earnings call transcript