XMTR NEWS: The Klein Law Firm Initiates an Investigation Involving Possible Securities Fraud Violations by Officers of Xometry, Inc.

NEW YORK, June 27, 2023 /PRNewswire/ -- The Klein Law Firm announces that it is investigating allegations that Xometry, Inc. ("Xometry") (NASDAQ: XMTR) violated federal securities laws.

CURRENT INVESTIGATION DETAILS:Before the market opened on March 1, 2023, Xometry 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. The Company disclosed that Xometry 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." The Company 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. Following this news, Xometry's stock price fell approximately 40% to close at $18.40 per share on March 1, 2023.

HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the potential claims on behalf of XMTR investors, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/xometry-lawsuit-loss-submission-form?id=41311&from=4.

ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
[email protected]
Telephone: (212) 616-4899
www.kleinstocklaw.com

SOURCE The Klein Law Firm

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED