Now that the fourth quarter of 2021 is in the history books of ecommerce and more public companies are beginning to break out year-end financials, there is more evidence demonstrating that last year was a breakout year for B2B marketplaces.
A case in point is Xometry Inc., an online marketplace where more than 40,000 buyers from companies like automaker BMW and pharmaceutical manufacturer Moderna purchase manufacturing services from an international network of more than 5,000 manufacturers and machine shops.
Xometry will break out its full year-end financials on March 17, but for the fourth quarter ended Dec. 31, the B2B marketplace company expects:
- Preliminary Q4 revenue to range of $65.5 million to $67.5 million. That total includes preliminary revenue of $3.5 million to $4.5 million from Thomas Publishing Co., which Xometry acquired in December. Xometry—which raised more than $300 million in an initial public offering in July—is ready for mammoth growth by acquiring for $300 million the B2B marketplace company Thomas, which operates Thomasnet.com with more than 1.3 million registered users. Thomas’s client base includes such organizations as manufacturers General Electric Co., Johnson & Johnson, Lockheed Martin, and Eaton Corp.; distributor W.W. Grainger Inc.; the National Aeronautics and Space Administration; and the U.S. departments of defense, transportation, and homeland security. Thomasnet hosts more than 500,000 commercial and industrial sellers.
- Excluding Thomas, preliminary Q4 revenue for Xometry will range from $62.0 million to $63.0, compared to $38.0 million for the fourth quarter 2020.
Xometry also continues to raise new capital to continue funding its growth. On Feb 2., Xometry secured $250 million in private placement from what the company calls “qualified institutional buyers.”
The B2B marketplace company will use the funding “for working capital and general corporate purposes and for acquisitions of, or strategic investments in, complementary businesses, products, services or technologies,” Xometry says.
Sign up for a complimentary subscription to Digital Commerce 360 B2B News, published 4x/week, covering technology and business trends in the growing B2B ecommerce industry. Contact Mark Brohan, vice president of B2B and Market Research Development, at mark@digitalcommerce360.com and follow him on Twitter @markbrohan.
Follow us on LinkedIn and be the first to know when new Digital Commerce 360 B2B News content is published.
Favorite