NEW YORK, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors that it has commenced an investigation of Xometry, Inc. ("Xometry") (NASDAQ: XMTR) concerning possible violations of federal securities laws.
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. To obtain additional information, go to:
https://zlk.com/pslra-1/xometry-lawsuit-submission-form?prid=52470&wire=3
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
