SHAREHOLDER ALERT: The Law Offices of Vincent Wong Investigate Xometry, Inc. (XMTR) for Potential Violations of Securities Laws
News provided byThe Law Offices of Vincent Wong
Sep 19, 2023, 12:55 PM ET
NEW YORK, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Attention Xometry, Inc. ("Xometry") (NASDAQ: XMTR) shareholders:
The Law Offices of Vincent Wong announce that an investigation has commenced into Xometry and certain of its officers and directors regarding potential securities fraud. The investigation concerns, in part, the below:
On March 1, 2023, Xometry announced an adjusted EBITDA loss of $14.2 million for the fourth quarter of 2022 due to a “revenue shortfall” and “lower gross margins quarter-over-quarter.” The Company blamed “macroeconomic factors” including inflation that “changed” supplier behavior and “slowing demand.” Further, the Company announced that it would be implementing a “5-point strategic plan” that included “aggressively” reducing operating expenses. Xometry also announced its full year financial guidance for fiscal year 2023 which was significantly worse than analysts had been expecting, including an adjusted EBITDA loss of between $20 million and $22 million instead of the $7.3 million loss projected by analysts. Following this news, Xometry’s stock price fell by $12.01 per share, or approximately 40%, to close at $18.40 per share.
If you suffered a loss on your investment in Xometry, contact us about potential recovery by using the link below. There is no cost or obligation to you.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
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New York, NY 10002
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