Xometry, Inc. (NASDAQ:XMTR) Q3 2023 Earnings Call Transcript

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Matt Hedberg: Thanks guys. Super helpful. Yes, it really does seem like Teamspace could be a nice incremental boost to ’24 and beyond. Thanks. Thanks again, guys for the time.

Operator: Thank you for your question. Our next question comes from Greg Palm with Craig-Hallum Capital Group. Your line is open.

Greg Palm: Yes. Good morning, thanks for taking the questions, just broadly speaking, I’m curious if you’ve noticed any kind of change in buyer behavior you know over recent months relative to kind of what you’ve seen on a year-to-date basis, whether that be you know buying more parts, whether that be utilizing engine standard versus priority shipping et cetera anything to note. And then just specifically in the month of October. Any change in trends relative to sort of what you saw over the course of Q3?

Randy Altschuler: Yes, so let me turn the first one, and good morning. So, we really haven’t seen any change in buyer behavior and again just to reiterate, we expect revenue per active buyer each quarter to be relatively flat quarter-over-quarter and into next year as well. October has been strong.

Shawn Milne: And Greg it’s Shawn. The one thing Jim mentioned in his script just look in terms of the Q4 revenue. We’re just being mindful of recent currency changes. Jim talked about it, but the dollar were to be 5% stronger for the entire quarter. It would be about $1 million impact. So we’re just being mindful of that.

Greg Palm: Yes. Okay, thanks, thanks for that clarification. And then, I’m curious as you look out, whether it’s next year, or at some point, you’ve given this metric with accounts last 12 months. Spend of over $50,000, I’m curious if you have, I’m sure you’ve got the information whether that’s over $100 or over $200,000 of spend and how that’s growing. I know you’ve been trying to go deeper within those sort of top accounts and I’m just sort of curious. If we’ll get some more sort of metrics like that show that the amount of money that some of your top customers are spending is accelerating maybe you can maybe give us a little bit of detail on what you’re seeing there?

Randy Altschuler: Yes, I think it’s a good question. And we’ve been talking about at the right time, adding another metric, at a higher dollar amount. So you know to be seen, but we hear you. And we think it’s a smart idea.

Jim Rallo: And Greg. The other thing is, we’ve talked about before. As we certainly invested in our enterprise sales efforts in 2023 as we have a new leader in that group and we’re really trying to move to into 2024. It’s again, our largest accounts with committed spend. So not only is there a potential tranche of potential new KPI, the higher spend number will update as you update you as we get further along. We’re really trying to get with our biggest customers and have them drive committed spend, which would add a lot of visibility. Certainly for you guys.

Greg Palm: Yes, makes sense. Okay, I will leave it there. Thanks.

Operator: Thank you very much. This concludes our question-and-answer session. We do thank you for your participation in today’s conference, this concludes the program and you may now disconnect. Have a good day.

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