Xometry Short Thesis Intact As Company Accelerates Spending and Pushes Out Profitability - SELL
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Xometry announced 1Q24 revenues that exceeded Management and consensus expectations, which we expected based on our 1Q24 pricing analysis. However, higher operating expenditures only translated into adjusted EBITDA loss that was in-line with the Company and analyst estimates. Furthermore, 2Q24 revenue guidance missed modestly, and accelerated international and enterprise investments are expected to drive a higher adjusted EBITDA loss than what analysts were expecting. Shares traded down most of the day on the results, but closed up ~2%.
Xometry Short Thesis Intact As Company Accelerates Spending and Pushes Out Profitability - SELL
Xometry Short Thesis Intact As Company…
Xometry Short Thesis Intact As Company Accelerates Spending and Pushes Out Profitability - SELL
Xometry announced 1Q24 revenues that exceeded Management and consensus expectations, which we expected based on our 1Q24 pricing analysis. However, higher operating expenditures only translated into adjusted EBITDA loss that was in-line with the Company and analyst estimates. Furthermore, 2Q24 revenue guidance missed modestly, and accelerated international and enterprise investments are expected to drive a higher adjusted EBITDA loss than what analysts were expecting. Shares traded down most of the day on the results, but closed up ~2%.