XMTR - Earnings call 3 2023

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Operator

Good day, and thank you for standing by. Welcome to the Xometry, Q3 2023 Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Shawn Milne, VP of Investor Relations.

Shawn Milne

Good morning, and thank you for joining us on Xometry's Q3 2023 Earnings Call.

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

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

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

Randolph Altschuler

from are this margins, gross we plus, executing beginning operating do the to set in and prior year. We joining Thank improve operating what results history. everyone, and QX record our out path year Xometry break successfully XX% orders, by of Good of Xometry's active our our With for you XXXX. in and go efficiencies XX% and additions QX expand we marketplace call. loss Behind QX, into morning, of the could potentially and fixed historical we costs, QX. reduced quarter full carrying of financial to growth gross million our record revenue Return on in revenue QX growth was and profit so adjusted even on for you, loss all we from profitability In robust EBITDA our in results, to profitability. leverage $XX.X adjusted including positions from EBITDA those momentum expenses. strong buyers earnings thank QX, EBITDA in highest an our This Shawn. XXXX to adjusted had reduced

growth. launched expand. augment and our our to enterprise sales organic and innovate continue buyer We October, increase a efforts tool to Teamspace, we In collaboration

leverage to Additionally, later in accelerate AI markets detail outline today, we more to Cloud on in Xometry's the Verdicts with Google will marketplace. instant announced each AI-powered a new I for call. exciting new coding partnership

of Here the QX. some expected from financial are highlights impact QX and their on

as of including both verticals, customer in and in with of In molding U.S. over growth to of growth XX% strong, aerospace expanding the by the manufacturing, across strong revenue. that growing recent forecast a of and an certain are million QX with $XXX processes to markets. international the due technology pushed in of the months, driven internationally, in million, revenue revenue revenue activity marketplace discontinuation more growth included QX strong our investments into growth from with of grew QX, in QX, U.S. Coupled to in XX% general in many and but range relatively injection quarterly buyers defense. international even revenue, year-over-year had driving sequential active revenue decline business. in primarily highest offset materials. year-over-year our We orders supplier pipeline of XX% in in segment, year. orders. by XX start as Underlying flat year-over-year. growth the XX% Let's equipment, and is revenue overall quarter-over-quarter Growth XX% of revenue, Marketplace remains revenue was marketplace and In active industrial due QX, converge to in primarily quarterly buyer in our XX% services last growth remains buyer was the strong in we overall the revenue, We QX. expect marketplace has growth year-over-year. XX%. European revenue year-over-year Marketplace tools QX services $X expect we sale power year-over-year per will also approximately Marketplace This quarter-over-quarter in timing with growth growth been some this QX in supplier stable active growing

million, profit. by gross Next XX% to growth Marketplace driven increased profit profit. Gross year-over-year $XX.X is gross XX% in

suppliers. Marketplace of network margins algorithms In Over driven QX, our gross the by increase last to basis X sequentially and margins points. years, of expect machine we've expanded by we gross growth Marketplace XXX quarter-over-quarter the learning our

adjusted EBITDA. our is Finally

operating or costs. $X.X made a against from and in our gross advertising XX% goals operating efficiency by balanced spend revenue year-over-year. X% is QX, we earlier, our profitability investments This with we of EBITDA In noted higher down million. in leverage, our I loss our result fixed As and, we've further increased advertising QX cuts improved adjusted profits, QX, reducing

Our margins efficiencies, our traffic. expanding our for reduced made driven buyer XX% net and increasing the marketplace economics progress business. the by QX improve, We SEO of areas year-over-year. financial in and unit results driven was to gross a growth acquire advertising by strong our different outlook Powering continue we by QX partly new active to strong in our cost

customers in QX, the of some we managing platform QX, a moves after on a expands buyers the assemblies solutions successful use. marketplace the to Teamspace Xometry several and and for into and are integrated expand land focus parts One, products. our highlights. Here buyers large and strategy. of further Teamspace Xometry Teamspace our enterprise procurement from teams individual pilot all with in to

marketplace. xometry.asia, XXXX.com, We our expect rapid at Teamspace to to mobile drive we expand marketplace thomasnet.com. parts. In new XXX XXXX's leveraged to global expands added start on reports and flight the Xometry's the quality leveraging on In instant new modernize including standard launched to site on the our automated continue is Cloud, within internationally. advertising model instant Thomasnet AI-powered BXB app. inception, certification launched coding Five. Four, and we launched Today, platform, we've early aggressively European Google a ASXXXX, AI a a teams capabilities wholesale xometry.eu, and products technology growth early QX, AI utilizing to for ramping we created been Verdict Xometry's it our and models localized launched customers made with vertical Xometry easier since Portuguese Alibaba further this AI, with deployment inspection xometry.uk number core an advertising accelerate Customers further Asia, investments Through coding markets, Since orders marketplace over with including solid which advertising and platform, our is the expects provide new we and Group's of QX, Leveraging marketplaces we've auto processes, ordering our instantly to is pace aerospace our engine. particularly of Xometry further QX, of networks partnership making materials, to QX, to we pay-for-performance United Two, in for move expanding suppliers in collaboration drive XX well on America. Kingdom. Europe positive progress the accelerate of industry. the Three, new launch. advertising in with on in categories suppliers recently code made coding as for menu organic marketplace languages coding buyers. to and relevant management a different In important in across and are Asia with North further for self-service The expand journey. to we adoption, user growing feedback models. In finishes efficiency. certifications. their as continue deployment auto we options Verdict This technology help a announced to new

technology we in With market. including our millions the an buyers. multitrillion disrupting customer combination. partnership a custom dollars additional further market can giant company, for This Thomasnet, of the addressable we data can in of formidable and of have represents measured unique many grow is hundreds share categories, Xometry be wallet and that a manufacturing

significant market as are on our and to to Thomasnet, continue large, this by other using to we continue serving for shift public building the thereafter. can and footprint, and growth many revenue breadth shareholder the the is so suppliers international of global the driving from our expect of buyers. in The AI, grow to and inevitable Likewise, share, XXXX center what we buyers, which accelerated expect software. technology participate. work application of has those We company increase manufacturing. we we trends, Accepting offer in happened gain robust in a advertising more only of not goal and more on with one expand value we industries. As XXXX jobs in year, we we disruptive, more more industries, custom in the largest digital, in years Capitalizing our leading went growth QX expect many of

every growth With the and and to our upon of our revenue competitive will algorithms, to our QX, day, potential we matching I pricing data leader Rallo. call lake, enlarging and accelerating our setting of improving network a now powerful In adjusted and over growth expect global approximately profitability increasing we have our to Throughout each and buyers continue proprietary be revenue suppliers, market growing turn the and XXXX, for Jim We footprint. Xometry moat sequential XX% by the up our expand EBITDA CFO, improved are that, breakeven, quarter. XXXX. our

James Rallo

Thanks, morning, and everyone. Randy, good

by business driven revenue for net quarter-over-quarter revenue a a XX% our adjusted QX increased QX addition and growth marketplace QX reduced active QX the buyer and of sale XX% significantly was offset revenue year-over-year. increased profit buyers, supplier year-over-year to mentioned, discontinuation reflecting Randy to the $XXX increased loss strong XX,XXX was gross was year-over-year number of adjusting million, and average revenue record by EBITDA â€˜QX lower active basis. we the by XX%. services QX million, supplies. million As Marketplace strong the of growth year-over-year XX% a partly Xometry, in $XXX the driven for exit quarter active by revenue with year-over-year growth. revenue of record buyers. $XX.X supplies of on revenue Marketplace X,XXX increased per XX% buyers a

at buyer expand revenue Marketplace our XX% of of efficiency buyer over revenue percentage much declined QX, and year-over-year. per joins XX least stable the our relationship up the marketplace of QX, The year-over-year. existing expect of QX, of platform, months negatively will accounts leads X,XXX buyer and at end from platform In sale of net revenue activities year-over-year. approximately spend the an marketplace supplier in QX, reported growth account In to stronger remains Once XX% QX. QX. growth the last account in our of revenue U.S. revenue and QX. at Services accelerated In and increase discontinued quarterly business active rate active aim growth order engagement from was We the than were to with in by growth least the $X we converge This to QX, XX versus LTM approximately supplies in with underscoring as overall year-over-year number we accounts and drive spend time. on of increasing with stickiness transparency the which $XX,XXX account in XX%, over XX model revenue active time. in impacted services year-over-year we accounts $XX,XXX new and of our growth growth in spend that revenue spending XX% QX the reached Our million QX. Supplier

The suppliers remained services a number for and QX year-over-year. XXXX of of Our X,XXX was decrease paying quarter-over-quarter. a core QX stable trailing basis, on active marketing X% XX-month in advertising revenue

paying of our year-over-year. the $XX.X XX.X%. months.QX digital was margin impact profit last the year-over-year. XX.X%, marketing XX% suppliers the increase basis exit was profit of of Total X% margin supplies dollars number the services have gross purchased XX was of gross QX is the XX% who paying or more suppliers Active increased million, suppliers profit for Marketplace of Excluding an year-over-year. supplier QX points year-over-year. gross business, gross up financial during XX active or services, including one increased Marketplace

expectations gross marketplace margin on focused QX, was We providing XX% XX% gross to profit growth. XX%. margin In long-term visibility are gross driving incremental year-over-year, further our marketplace of to dollar

and financial carried points due margin and gross XXX gross driven to significant services. margin lower high to an high supplies, quarter-over-quarter margin. Thomas of a services by Services supplier of Marketplace Supplier Advertising gross the of increased for was from sequentially services QX. gross expand gross QX which the Marketing margin sales to XX.X% QX We all-time discontinuation growing of margin basis expect the

operating Moving we $X office million. QX impact non-GAAP declined workforce and reflecting the on costs, total increased non-GAAP expenses of XXXX. space $XX.X of X% operating quarter consolidation in quarter-over-quarter, QX to in full operating the expenses QX to reduction announced X% million year-over-year QX

marketing business. improving Within a we was awareness strategy. decreased X% our sales Thomas as profitability operating we marketing and year-over-year goals. QX, operating as compared our and compared Additionally, largest QX, and X.X% expenses in QX QX and growth our In continue X% was marketing marketing. leveraging QX, services $XX.X additional and support cost expand million land and to expense advertising are growth increase and is Advertising expenses, basis This increased X.X% on of year-over-year hiring $XX.X Marketing sales non-GAAP net salespeople profitability and in QX delivered efficiency to non-GAAP or We to increasing million $X.X million loss driven XXXX. based component. by revenue new XXXX. of in EBITDA our in sales savings spend record in on our seeing brand balance in to growth of in buyers revenue with active adjusted efficient initiatives,

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

saw some strong European the QX cash We revenue that $X.X quarter, international growth segments particularly and our $X.X of $XXX.X third in expect we orders. growth order from Europe. earlier, therefore, operating mentioned due quarter-over-quarter and a forecast certain million, QX had into the timing million. Randy were QX. As and of been respectively. Segment in marketable U.S. growth the even revenue more cash in At to strong for was equivalents loss securities of and but pushed QX, We, has international end million

guidance. to on moving Now

revenue In our for the headwind strengthening and U.S. encompasses our increasing adjusted particular, recent a size slightly business. spot growth incremental our a rapid versus on the of prior widening which creates potential given basis. guidance and the QX range in range our are We revenue, dollar, of revenue EBITDA guidance

expect QX, in range We of XX%. million XX% revenue million, $XXX representing XXXX year-over-year $XXX to to growth of the

range. to Marketplace on year-over-year expect in QX a XX% to revenue basis We the growth accelerate

and the in that mentioned, QX, active delivered the we growth in marketplace further quarter-over-quarter, of loss lower previously expect to operating a measures by revenue, marketplace converge As consistently will million. loss profit, In EBITDA growth our buyer marketplace increased QX, this operating to improving be adjusted to have adjusted QX we breakeven efficiency, gross rates to year. expenses. tighten in revenue $X EBITDA largely expect driven of range we with sequential growth be

In We you the adjusted for growth open that, EBITDA. questions. stock-based million, invest initiatives, international. $X from call to we to compensation in enterprise please continuing With to key exclude can be including up are and we which expect approximately will sales operator, QX, expense million $X

Operator

comes first Blair. with Our today from Instructions] Brian [Operator William question Drab

Randolph Altschuler

We jumps second can in he if on. a come back back to Brian

next the to caller. go Let's

Operator

Securities. is caller Nick Jones from next Our JMP

Nicholas Jones

I buyer the have think this structurally buyers have speak net is expect the be, number growth? buyers Could shareholder of number? the Does XXX this term as been of this change through on Do per in how first weigh would two. buyer to contributing of I type guess you follow-up behavior Teamspace Teamspace? active near Can over of I kind maybe kind kind the active I release, then growth. the to the ratchet teams increase active spending in much the And the net on guess, you should the of they created. solution? you're on up maybe ads of marketplace similarly on of buyer we a kind to is buyer revenue spend if from adding? coming going active what the ads

Randolph Altschuler

It's Randy. question. great And

Teamspace October. So we did release until

So was customers. handful in just beta of with still QX, it in a

at Teamspace, was record because Teamspace buyers. we from any this net there the Teamspace. QX don't to certainly So in At contribute growth but certainly buyers upside, this per revenue we we but any Potential downside the it. from in expect will think in quarter expect don't to net the from change QX beyond of active negative point, change, add point, in not active that and be

James Rallo

we're And growth said, Randy strong we add, record in really in just QX, SEO to additions, net what as seeing saw, traffic.

cost called of call on our XX% new buyer out One year-over-year. a active was the things net of we that down the was

and improving, you adds to efficiency good We're a seeing seeing Europe awareness our net very just healthy going And well. also advertising. strong should the very very across in growth is see as forward. seeing in brand So board, continue

Nicholas Jones

it quick XQ. was on strong a on maybe extra any sequentially, just international. year-over-year there a would in little growth, what's basis? to bit call Or happening Anything color of be things can, down flat on kind follow-up internationally? Are I out but slowing a Still If just sequential great.

Randolph Altschuler

in growth talk No, is Yes. Europe. Order just very international, And growth business issue. primarily very is international. as again, timing healthy strong. was about we it's this buyer Nick, and really a year, It

called quarter-over-quarter QX. really particularly to Europe call, you're revenue So going in growth as on strong we in in some international, see out the

more So you a and see going in of It's great. should a everything timing nice uptick is QX. issue,

James Rallo

was issue. visibility and that and good have timing in in double mean, And growth. order expect said, on buyer slight in recognized QX that very strong click and of Europe there, just in been revenue And funnel to October, we the sequential again, I that, Randy a we as very terms has growth. strong was of All year-over-year top

Operator

now Drab will Brian to William return We Blair. with

Brian Drab

Sorry first. to we're I to muted need that that's something Star we when an be if announcement get about say I fixes X, was I it. what think heard guess, going you else. Yes, we introduced.

about and interesting, services printing when very different you on Randy, be some in perform well? at results or trajectory more would different it in it this comment and I seeing favorable. actually to very CNC molding as is will of talk the environment you was You environment. manufacturing be This impressive see can the the you're anyway, how So injection XD Can trends that wonder, all guys is you little interesting service mentioned positive. a in lines?

Randolph Altschuler

good categories. all it particularly strong, the Brian, board. really has seeing growth molding really been upticks been Injection we're Yes, but in has strong across

industries. So it's as also, across And broad. pretty it's many said we

Brian Drab

financial feels to future? Can more business gain expect at might for you of services. called the traction and margins point. It yet that talk some really guess it you have about you the that in in the the that services has out good component that you the I like And what financial

James Rallo

obviously of being services actually continued have Brian, addition That's of expand. the financial think Yes. into and to suppliers by I the adoption the marketplace driven that.

the really what I on business. we of side the quarter supplier was in called the think out in increase services the margin

sits. again, the So where FinServ

there the lot obviously, A this to and and with, we period, So of to that continue. materials. do you saw supplies expect of margins exit has that increasing

that lap are good going the here. about So that now, where in overall. with we'll margins feel really being business gone this part the in and obviously quarter of business We the

Randolph Altschuler

add advertising, advertising the And Brian. said, the just to high what margin, is to you business very

very very So have so business, the too. high, advertising high fire the But business, is biggest in services is FinSev obviously, product margin. we the

Brian Drab

wondering, some is right adding And then for having manufacturing trends competitors trends your you're of certain and I'm what and about prices, more jobs bearing can in prices your industrial at are margin? partner environment how partners of talking accepting the challenging even world in a on fast partners and they're about their the comment regions. or at heard has capacity accepting now, extra that gross manufacturing which And just and just lastly, It the now manufacturer marketplace you how all is jobs, kind all one time. base

James Rallo

Yes.

Okay.

marketplace gross gross we So in sequentially And from indicated to that, clear, the to Marketplace gross of XX%. for marketplace just again, just terms grow incremental we've be expect on jump that to QX. was for margin margin, in margins to QX QX

in do I change. our flat It has since strong trends not any buyer that last want that slightly quarter QX, there. so flat per do to don't revenue was per active say, We basically but expect changing. year. of in year. see QX up very We been to Brian, this So

more expect per down, individual part buyer active goes and a bit here to So we capacity little there's or irrespective of up or stable. be pricing flat there revenue or

Operator

question Our Eric from Sheridan with next comes Goldman Sachs.

Eric Sheridan

ask that's if more I one just Maybe bigger picture. could

Google into density into it implied vertical a the with was widening it that we look better we to marketplace your about XXXX of think you thinking in out of prepared showing implementation partnership be should some bringing exposure? in Cloud, sort just but potentially the the and how up and how of remarks, numbers what more bit partnership, the With little see understand of should as we

Randolph Altschuler

thanks for the Eric, question. Yes,

deploy taken to about we go us in engine. excited how categories period, about things. months deploy it, and processes happening auto material we categories very new help it code. going years us of have we number And in It's months And the to different as terms during have you think now on of we're and our months. partnership can we new a will over can quickly categories impact of can that us auto So the provide will deployment weeks expansion this see think a of will period And to that this things accelerate coding be and that updates.

Operator

from [Operator next comes Joe Citi. Our Instructions] from question Ron

Ronald Josey

just I the bit Maybe you flat more Jim, the a guidance walk revenue us I on I top had call so be two. was XQ, the stable, seeing, Randy And can hear XQ, more and XXX? active just in you're stable think it, buyer. expansion buyers per through XXX would then there? terms those down insights to then here little what in on that you penetration love largest the to accounts, I know of in top Are but it of to any more was thoughts seeing. on across around

Randolph Altschuler

you. Thank Yes.

marketplace. then for QX QX active clear, watermark year a monthly each saw our quarter us last revenue year, reduction Since QX a And active to of from last last buyer has year been of flat. buyer to QX. was for just we be per high So revenue per sharp

flat again that we But be comment when a to we about year expect means it's most it the last important, was gave flat, been high in QX. year-over-year, and So watermark.

marketplace trending we in we've buyers talked mirror we now the as year, about the how flat we of we basis in XX%-plus growth are range of expect, our been why from a a XX% we last in in now there And sort active that's revenue. throughout to So expect as about in growth circa and in year, talked the call, Marketplace QX QX. growth this

it been of we expect very metric since to So to and continue be last QX has year, that stable, stable.

James Rallo

the the repeat question, On question? second can you second

Ronald Josey

top Sure. focus the the just It very per was on helpful XXX there? just buyer And Randy, top was about given there. XXX largest that expanding active progress and largest comment. revenue the accounts in the accounts, But

James Rallo

is And part in helpful we've I I focusing just quarter-over-quarter on we accounts. very about buyers. mentioned very top say for mean, And U.S. top this for is our introduced Teamspace, the think we of accounts. be strong on then all our the is But we growth Randy as that's one the the thing and in to that saw particular, call, XXX talked going XXX would

so And and that. update we're really keep we'll you again, thus the pleased far, with traction on

Operator

comes question from with next JPMorgan. Cory Carpenter Our

Daniel Pfeiffer

Carpenter. is for This Danny Cory on Pfeiffer

first, the anything size led on the sequential second, can is you in current And of on in call about then update performing? gross that's to if could on out just maybe XXXX XQ? any to particular the partnership talk contribution. the there's you if decline how and And Alibaba On marketplace there revenue what or any margins potential

James Rallo

Yes. Thanks Jim. for question, the

a that things. of One, I think to So couple evolve. relationship so Alibaba continued

recently for I we just mobile. rolled think out that have

much all recently. So a really that's been is was everything that big rolled very change China. When used not in we laptop-based first which out, obviously, we shared

We're mobile starting rolling the get out there. helpful. is really to orders So

don't this quarter, but in to do making business. progress next really immaterial in a continue expect see are to very a China be bigger we So good of But piece point be the to that of at clear, lot We the that to there. have we that's time.

the the basis margin, XX% points third QX XX QX. it that We of just again, year-over-year. In at that if quarter. for marketplace so incremental was the grow look terms refresh, up gross the in from margin, do to you to gross to sequentially And gross expect margin was

there's nothing going of be note have So XX% but XX%, about variability slight declined with why really again, XXXX we sequentially. to that there's to good some may exiting but it feel

Randolph Altschuler

Yes.

increase, not think going though, to straight to I increase also, what continue line. we've but to said, margin gross it's in going is right, a

have forth. we'll slower have and quarters better So we'll quarters so growth and

there. So get guidance right certainly feel We direction. of about think, the to well our XX%. again, on in path XX% I to we're And we're solid moving our

Operator

comes Our Matt from RBC. next question with Hedberg

Matthew Hedberg

or either next wondering noted that. think, ton us for year's trajectory of next sort could Jim, QX high-level robust the parameters obviously, building can thinking haven't make call, really And you just I of Randy before year given a sure Randy, outline of growth, the question you on if a kind we're the appropriately Maybe of kind expect you about we so you around in for But 'XX. key blocks that growth call. us

Shawn Milne

every I'll that X,XXX take into this called Teamspace. should the specifically so as going guide impact net that. building buyers being you of before, to blocks not We're active delivered not are robust expect build the And continue over and out you that we quarter, we but today, obviously, can to added see there, model. your strong, have to quarter did

to into update you active buyers. very revenue stable seeing XXXX impact. then we per on as against marketplace we'll that So we're have get that, And

So called modernize grow of XXXX. bear expect and to going Thomas as modestly, high-margin XXXX expect these services, fruit is this that, put brought now I kind this would year, very out you the to in we to Sales, that's but in that's look ad next of should moves order call, that some on see building of a we've Head we growth to that converging marketplace buyer year think a investments some new We and platform. growth. revenue in the And for block supplier business. you're into and And with then we in

Randolph Altschuler

that is too, accounts. add of would XXX on penetration the top our I Yes.

It's adoption in engineers we XXX our that, in great throughout been founded. or company that the our great a continue year. feel is getting rolled penetration unbelievable, Teamspace. with our fastest driving And we've done more involved. lot next here accounts. out really, frankly, seeing top a adoption Teamspace organization, the about see product And strong that of adopted has We service to XXX real since good with the revenue We're accounts. top we've especially job

Matthew Hedberg

does seem really a nice beyond. like 'XX could be it incremental team and boost Yes, to helpful. Super space

Operator

Craig-Hallum next with Palm comes Capital from Our question Greg Group.

Greg Palm

of in curious buyer more Anything month et change Just note? then that you standard broadly be in seen trends speaking, that be to the the And of sort QX? versus in to utilizing specifically, shipping, course of priority cetera? relative any saw over what have on October, whether just months kind I'm to buying what of of if you've parts, basis, noticed year-to-date any over kind you relative a change whether behavior recent

James Rallo

Yes.

one. So the iterate let me first

per to So again, next buyer seen we strong. and year behavior. really October flat haven't each be to has And quarter quarter-over-quarter we as relatively reiterate, revenue well. buyer just into change any active been expect in

So...

Shawn Milne

QX Look, be would Greg, Jim just. his X% stronger a Shawn. being impact. be and mentioned mindful $X The of about Jim quarter, terms And it to if it's of just about rates, recent million it, entire the currency changes. in revenue grip one the we're dollar in thing talked were for the but

we're of just So mindful being that.

Greg Palm

your know you've curious XXX curious, is with what money metric go I some of growing? can to just whether given metrics spending you I'm month that's out of accelerating. you of of that's whether over next the got top accounts. if get point, or the show you've or that, we'll year as us a trying sort top accounts deeper look -- within you then you're are that spend of on maybe And I'm this how $XXX,XXX seeing over $XX,XXX. detail if of some been amount at some of over those I'm more of give little sort you've there? sort bit I'm customers curious XX that information, it's Maybe like spend last And have that and sure

James Rallo

Yes.

another we've dollar time amount. that's a been good think question. a about the at I talking And right metric higher adding

we smart a it's but and hear seen, we be to think idea. you So

Randolph Altschuler

thing Greg, in enterprise And efforts in talked about other is certainly our have is with you before, XXXX. invested the we've sales we

we're And that leader group. get As to you move XXXX accounts in committed spend. trying with know, largest is to we in have a really our to new what

only biggest to with further get guys. We're really a tranche We'll customers get and KPI, you the a them would along. potential visibility, spend, drive we spend of trying lot not there potential number. for as of is have update new our higher certainly committed you which So add

Operator

your program, This a Thank concludes do you much. thank Have participation you you the now conference. disconnect. question-and-answer good This in our We session. today's day. and very for concludes may

Xometry (XMTR) 9 Nov 232023 Q3 Earnings call transcript