Why Xometry Stock Crashed 17% Today
Shares of start-up company Xometry (NASDAQ: XMTR) took a more-than-17% dive today, as of 12:20 p.m. ET. The small but fast-growing online marketplace for on-demand manufacturing printed preliminary earnings for Q4 2021 that came in below some Wall Street analyst estimates (when excluding sales from recently acquired Thomas Publishing Company, which closed in December 2021).
Specifically, Xometry said to expect total revenue within a range of $65.5 million to $67.5 million for Q4 2021. However, excluding sales from fellow product sourcing and supplier Thomas from the equation, Xometry's revenue last quarter should be within a range of $62 million to $63 million. It slightly beats management's own guidance provided a few months ago, but misses some bullish Wall Street estimates for sales to be as high as $64 million.
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Source Fool.com