Why Xometry Shares Are Falling

Xometry Inc XMTR shares are trading lower by 17.4% at $42.60 after the company issued fourth-quarter sales guidance and announced a $250 million convertible senior notes offering.

Xometry provided the following updates in a Monday press release:

• Preliminary total revenue for the fourth quarter 2021 is expected to be in the range of $65.5 million to $67.5 million.
• Preliminary total revenue includes revenue from Thomas Publishing Company from the date of acquisition on December 9, 2021, which is expected to be in the range of $3.5 million to $4.5 million.
• Excluding Thomas, preliminary Xometry revenue for the fourth quarter 2021 is expected to be in the range of $62.0 million to $63.0 million, compared to $38.0 million for the fourth quarter 2020. 
• In addition, Xometry expects gross profit margin for the fourth quarter 2021, excluding Thomas, to be in the range of 27.3%-27.6% compared to 25.0% for the three months ended December 31, 2020.

Xometry expects to report its full fourth quarter and fiscal year 2021 financial results after the market close on March 17, 2022.

Xometry operates a marketplace that enables buyers to source manufactured parts and assemblies worldwide. It provides CNC machining, sheet metal, 3D printing, injection molding, urethane casting, materials and other products.

Xometry has a 52-week high of $97.57 and a 52-week low of $40.38.