Xometry Expects Q3 Revenues Of $119M-$121M, Vs. Consensus Of $123.49M; Sees FY23 Revenues Of $464M-$474M Vs. Consensus Of $473.28M (Prior View: $470M-$480M)
Portfolio Pulse from Benzinga Newsdesk
Xometry, Inc. (NASDAQ:XMTR) has revised its Q3 and FY23 revenue guidance due to the impact of exiting the supplies business in the U.S. The company now expects Q3 revenues of $119M-$121M, compared to the consensus of $123.49M, and FY23 revenues of $464M-$474M, against the consensus of $473.28M. This represents a decrease of approximately $2.0 million and $6.0 million, respectively.
August 09, 2023 | 11:19 am
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NEGATIVE IMPACT
Xometry's revised revenue guidance for Q3 and FY23, due to the impact of exiting the supplies business in the U.S., is lower than the consensus estimates. This could potentially impact the company's stock negatively in the short term.
Xometry's revised revenue guidance is lower than the consensus estimates, which could lead to a negative market reaction. The company's decision to exit the supplies business in the U.S. is expected to lower its revenue by approximately $2.0 million and $6.0 million for Q3 and FY23, respectively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100