0001193125-26-211872
SEC filingStrong revenue growth and margin expansion drove a sharp reduction in operating losses and positive operating cash flow.
Revenue increased 36% to $205.1 million for the three months ended March 31, 2026, compared to $151.0 million in the same period last year. The growth was primarily driven by increased buyer activity on the marketplace, particularly from enterprise customers, as the platform continues to digitize and modernize manufacturing sourcing.
Operating loss narrowed significantly to -$5.2 million from -$15.4 million, a 66% improvement. Net loss improved to -$5.3 million from -$15.1 million, and diluted EPS improved to -$0.10 from -$0.30. The company continues to invest in product development, sales and marketing, and operations, but is demonstrating increasing operating leverage.
Net cash provided by operating activities was $14.6 million, a substantial improvement from -$3.7 million in the prior year, driven by working capital improvements. The company believes it can meet longer-term cash requirements through a combination of operating cash flow and available cash and marketable securities.
The platform's ability to handle high volumes of unique parts, from rapid prototyping to high-volume production, supports buyer engagement. Customer purchases span a broad range of processes and materials, enabling efficient matching of manufacturing demand with supply.
Future capital requirements depend on revenue growth, working capital cycles, and investment timing. Historical results are not necessarily indicative of future performance, and current quarterly results may not reflect full-year expectations.