San Diego, CA -- (SBWIRE) -- 09/18/2023 -- An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Xometry, Inc.

Investors who purchased shares of Xometry, Inc. (NASDAQ: XMTR) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Xometry, Inc. breached their fiduciary duties and caused damage to the company and its shareholders.

North Bethesda, MD based Xometry, Inc. operates an online marketplace that enables buyers to source manufactured parts and assemblies in the United States and internationally.

Before the market opened on March 1, 2023, Xometry, Inc issued a press release and held an earnings call reporting on financial and operating results for the fourth quarter and full year ended December 31, 2022. Xometry, Inc reported that its annual Total Revenuew rose from $218.33 million in 2021 to $381.05 million in 2022, and that its Net Loss increased from $61.37 million in 2021 to $76.02 million in 2022.

Xometry, Inc disclosed that it suffered an adjusted EBITDA loss of $14.2 million in the fourth quarter of 2022 reflecting a "revenue shortfall" and "lower gross margins quarter-over-quarter." Xometry, Inc blamed "macroeconomic factors" such as inflation that "changed" supplier behavior, that some of Xometry's "largest customers grew less than expected", and "an environment of falling cost and slowing demand." Further the Company announced that, despite becoming a publicly traded company less than two years prior, Xometry would be implementing a "5-point strategic plan" that included renewed focus on top 200 accounts who admittedly "represent significant opportunities and who depend on Xometry to strengthen their crucial supply chains" as well as "aggressively" reducing operating expenses, among other items. The March 1, 2023 press release also released the Company's full year financial guidance and outlook for fiscal year 2023 that fell far below Street consensus, including projected revenue between $470 million and $480 million, and projected adjusted EBITDA between ($22) million and ($20) million.

Shares of Xometry, Inc. (NASDAQ: XMTR) declined from $41.07 per share on February 02, 2023, to as low as

Those who purchased shares of Xometry, Inc. (NASDAQ: XMTR) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
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