I think in the interest of keeping us on time, if I'm right, we should jump right in. So, thanks, everyone, for joining the next session. So it's my pleasure to have the team from Xometry here. We got Randy Altschuler, the Co-Founder and CEO, Shawn Milne, Vice President, Investor Relations. Thanks, guys, for being part of the conference. Thanks, Eric. Thanks for having us. All right, so let's jump in and start maybe big picture. You know, Randy, I think for those who don't know Xometry as well, you've obviously built a really unique and interesting multi-sided marketplace in the last couple of years. I'm curious to think about the platform you built and maybe lay the foundation for the path you've been on over the last couple of years. Sure. So Xometry is the leading two-sided marketplace for custom manufacturing. So when you think about manufacturing, obviously one of the largest verticals in the world, and there's a segment of that, about $2 trillion, where customers are buying parts from small and medium-sized manufacturers. And these customers are the largest companies in the world to small companies. And these are orders that large contract manufacturers can't afford to take, so customers have to go to these small and medium-sized manufacturers. These are bespoke parts, so they're customized parts, not off-the-shelf parts, for each manufacturer. And the pricing for that is very opaque and inefficient. So if a customer went to two suppliers and asked for pricing on something, the price differential could be 100%. And historically, it's taken hours, days, sometimes weeks, for the customer to get that price from the supplier. So for the customer, they're rarely getting the best deal, and it's very expensive and time-consuming for them to find the right manufacturer. On the flip side, for the suppliers, heavily fragmented marketplace, hundreds of thousands of small manufacturers in the U.S. 600. I think there are 600,000 manufacturers, 75% of them have less than 20 employees. The long tail of the internet hasn't touched these small manufacturers. There isn't another place on the internet, historically, for them to sell their open capacity. So using artificial intelligence, we are connecting the buyers and suppliers of this custom manufacturing and using that AI to create instant pricing, the prices for both the buyers and suppliers, and to optimize the match between the two. Great. Inefficiency, friction, all kinds of things we love to see in terms of marketplaces and what they're trying to solve for. Here's the great thing, we're B2B. There is unlike a lot of the B2C, we got a gazillion guys doing this. This is... You know, we've built a huge competitive moat, and as we grow internationally and as we grow our data set, that moat continues to grow alongside it. One of the inefficiencies you talked about there, Randy, is pricing. Talk a little bit about what you built on the AI side from a pricing model standpoint, how it's evolved, and how people should be thinking about that lowering friction and improving sort of transaction velocity on the platform. Yeah. So, again, when you think about sort of traditional online retail, you're buying a SKU, a pair of jeans, a quart of milk, whatever it might be. And so, inherently, prices between if you went to two different websites, maybe they're off 5%, maybe 10%, and you, as the buyer, inherently have a pretty good sense right out of the gate of what that should cost. In custom manufacturing, there are hundreds or sometimes thousands of different reasons why the prices could be different. So a supplier could have just the right machine, and they can make the parts twice as fast as somebody else can make it. Somebody needs a special kind of finishing. These parts are gonna be in space, and they need a special kind of finishing, and one guy can buy that for $3,000, the other guy can buy that for $5,000. So historically, to try to come up with a price takes a supplier a long time. They're trying to figure out how long would the machine run. They're calling people up for price estimates on the material, and how much is that cutting tool and how much does it supply? And so that's why the customer would have to wait a long time to get it. So it's like you go to the supermarket, you fill up your cart, and they say, "Come back in a week, and we'll give you the price for it." The only way to solve that problem, you could, you could try to figure out every little permutation and try to calculate it out, but that would be almost impossible to scale. So instead, we're using a technique called machine learning or deep learning, and we're basically trying to figure out all the features of a particular order and train our models on those features. So there'll be hundreds of thousands of different features that we're training on to try to come up with what we think, how this part relates to a part, all the different kinds of parts we've made in the past. As we get more and more data, we're smarter and smarter about what this particular price should cost, how much it's gonna cost somebody to make, and particularly, how much it's gonna cost our suppliers to make. But it's dependent on getting that data and training your models to do it. So you've gone through a number of, evolutions of pricing, experiments around pricing. What have been some of your key learnings as you sort of experimented with pricing models in general, and how you think about some of the inefficiency that could still come out of pricing, as you continue to scale in the years ahead? Yeah. So, there's a couple things that we're learning. So one is going back to the power of data. As we scale and we get more data, we're more and more accurate at figuring out if this customer has a particular price, it's not novel to us. As we get more data, we can figure out more accurately what this truly should cost, what are all these different features? Even though it's got lots of different features to it and aspects to this, we have a better sense of really what this should look like, like a comp for a company, like we have really good comps for that company. And likewise, we've learned that for a supplier, the key is finding what fits their sweet spot. So if you're a manufacturer and you have 10 hours of machine time, one job can give you a 5% margin, another job can give you a 40% margin. So your ability to give that supplier that higher margin work actually will be a boon to the supplier, but that also can translate to a better price for the buyer. So in addition to lots of data, you have to make sure you're also growing a robust network of suppliers, too, because that will enable you to find that unicorn, that best price for that buyer. Yeah. Of course, the more suppliers, the more buyers you're going to get. That's what we've talked about. Yeah. The data and the number of suppliers on the back end, right? To find that optimal match. You know, we've taken the supplier base up pretty dramatically in the last couple of years, and at really, really low marketing costs for us, and we have a waiting list for suppliers to come on. So that's a good piece of the equation. Got it. Okay. Just going back to the buyer side first, just for those who are maybe less aware of it, talk a little bit about how a buyer finds you in the first instance, and what some of your learnings have been of how buyer behavior has evolved as a buyer has aged on your platform or cohorts have matured? Yeah. And just a snapshot of our buyer. You know, we work with some of the largest companies in the world. If you're a Fortune 100, 500, 1000 company, and you're manufacturing something, there's a good chance that you're a Xometry customer today. And our largest accounts, customers tend to be... If I gave you the list for our top 100 accounts, most people in this room would recognize a lot of them. So one of the problems that we're solving for our buyers is, if you're an OEM and you're buying $hundreds of millions of manufacturing a year, you're going to probably put your purchasing into two buckets. One is stuff where there's big ticket items and where you're going to want to own that relationship directly with that Tier One large contract manufacturer. Then you've got a pretty significant part of your spend that's going to scores, maybe tens to some hundreds of small manufacturers, and that's very expensive for you to manage. It's filled with lots of risk. So the ability to come to Xometry and consolidate your spend for all these smaller orders is very powerful. Think about it, like in the retail world, if you go to Amazon and you're buying from 3P versus 1P, like, that's very powerful to get all that through one experience. So over time, we've learned one of the keys to success is our Land and Expand strategy, going to these large companies and continuing to broaden what they're buying from the Xometry marketplace. Some of that's about selling into them, some of it's about making enhancements in our technology to make it easier to remove friction, so we integrate directly into their ERP systems. We're making enhancements to our software so they can interact with one another, groups of buyers and engineers can interact. So that's one element to it. Then another element is just expanding, adding what things we can offer them to buy, the different kinds of manufacturing technologies. So sticking with the buyer side, one of the more interesting elements of the company in the last couple of years was when you decided to do the Thomas acquisition. Can you talk a little bit about why you landed on that acquisition in terms of allocating capital, and how it continues to evolve in terms of the buyer side and elements of, the marketplace dynamics that are created as a post effect of that acquisition you've done? Yeah. So Xometry, you know, co-founded the company in 2013. We opened our doors for businesses in 2014. We've been growing like a weed, and, you know, we're the leader in this instant pricing, this two-sided marketplace, and very proud of that. But, you know, there's an even larger TAM as we think about manufacturing. It's huge. Thomas was a 100-year-old company, basically a classified, a giant site where you could search for - think about it like the, the poor man's Google for manufacturing, where you could find in, in this custom manufacturing world, lots of additional categories that we don't offer on Xometry already. And a huge network, 500,000 North American suppliers listed there. A trusted brand that had been around forever, very loyal following, spent very little on marketing, but was getting lots of organic traffic. As we think about growing into this $2 trillion TAM, we want to be that one-stop shop for our customers. Buying Thomas enabled us to expand the different categories of manufacturing we could offer. Thomas had over 1.2 million active, or 1.2 million users who've used Thomas. That's in contrast to, we just had our record high of active buyers of 48,000 in Xometry. Very proud of that. It's now 1.3. Okay, 1.3 million in Thomas. So huge buyer base that had not even heard of Xometry before, and Thomas had earned over a long time. So it was the opportunity to buy a huge group of potential buyers, a huge group of active suppliers, and to expand what we could offer customers. Okay. You also talked a little bit on this, on the last earnings call about your five-point strategic plan and focusing on top 200 focus accounts. So alongside what you're trying to build from a marketplace standpoint, can you also talk about how this focus on your top 200 accounts feeds into where you're trying to, drive your most interesting growth opportunities from going forward? Yeah. So as we talked about... and just to give some perspective here, Xometry has grown like a weed from 2019 to 2022. We grew our marketplace revenue 59% on a compound annual basis. Our gross profit, by the way, during that period, grew over 82%. Right. So we've been growing very rapidly, but we're still, you know, we're still relatively small versus our TAM. When you look at our largest customers, that top 200 accounts, which accounted for about 50% of our marketplace revenue in the United States in 2022, many of those accounts spend more than our revenue annually in custom manufacturing. So one of the things we've learned as the economy has gotten tougher, going deeper into those accounts is both fruitful from a revenue perspective, but also is more profitable revenue for us as well, as we're amortizing our costs across them. So So we made an initiative in the beginning of this year to focus more of our sales and sales enablement effort on those larger accounts. We're also investing in technology that, again, that enables us to be more of an enterprise solution for them, because there's just so much. We've got a great chart in our earnings deck about the CAGR we've got for those accounts, but there's still so far to go, and investing in those just makes a lot of sense. When you think about the opportunity set that sits in those top 200 focused accounts, what are some of the identifiable elements of friction to gain more wallet share that you're sort of targeting or going after, that we should be watching for from the outside looking in, that could be an amplifier to your growth rate going forward? Yeah. So think about... Let's take a step back. Who's the buyer? So if the buyer is the vice president for manufacturing or, or supply chain, or procurement, they're usually responsible for a collection of spend. So they've got $50 million a year that they're spending in plastic custom parts and, or in metal custom parts, and it cuts across different technologies. So the ideal value proposition is to go to that, that customer and say, "Hey, listen, you can take that whole $50 million, and instead of you going to 200 different small suppliers and managing these and all the risks that are associated with them, they're small companies, and, and, you know, there's financial risk with them, or somebody gets sick, or there's a weather risk, or maybe some of them are in Asia, and there's geopolitical risk. You can come to Xometry and do that in one place," that's really appealing. So you have to be wide enough to be able to take all that spend from that customer. Then you have to reduce friction. How easy do I make it for you to pay? So like, these integrations with the ERP systems, they call it PunchOut. Like, I can go. I don't even have to come to Xometry.com. I can buy from Coupa, I can buy from Ariba right within my ERP buy. That's really attractive to them. And then, how do I make it easy for my internal customer? You're the buyer, you're the vice president of manufacturing. You've got 300 engineers and procurement people that are buying things. How do I make it really easy for them to all buy from Xometry? So giving tools like this new Teamspace, we haven't given an official name yet, but team software that we brought out, which makes it easier for groups of engineers to work together and procurement people, that just makes it easier for them to all congregate together in Xometry and to buy from Xometry, so it's reducing friction. It allows them to bring in new engineers and procurement folks virally within the organization, which is no customer acquisition to us. Right. So, you know, we're in pilot, as you know, on that, with several large customers, and we've, as we talked about on the call, we like what we see, but not only can it possibly, you know, drive customers virally onto the platform, but, but again, just broader and deeper engagement at the product, project level, we think is gonna be, you know, very positive. Got it. In terms of the wallet share. Understood. Yeah. We've talked a lot on earnings calls about the international opportunity against your addressable market. Can you give us a current state of the international business, where, what you're most excited about in terms of pockets of growth going forward, how you're allocating capital and investment dollars against that international opportunity? Yeah. So, just some history. So we entered. Our first international market was Europe. And when we talk about international, we're talking about building localized networks and platforms in those markets. So if you go to Xometry.eu, we're in, I think, 11 different languages, from, you know, Italian, Spanish, French, German. If you go to Xometry.Asia, we're in Chinese, we've got Turkish. So when we talk about going international, we talk about building local networks for local customers in those countries. And those are also networks we can offer our customers worldwide. So at the end of 2019, we entered the European market, and by Europe, we're talking about the EU plus the U.K. And just give some perspective, in 2020, our international segment generated $3 million of revenue. On an LTM basis, it was about $46 million of revenue. So in, you know, three years or whatever, we've grown from $3 million to $46 million. And again, that's really been in the EU plus the U.K. We brought on China online, Xometry.Asia, last year. That's growing now. We've got a great deal that we signed, a distribution deal with one of Alibaba's large B2B retail sites in China. And then we also have now entered the Turkish market as well. So we see international growth like other marketplaces. We can imagine that at some point it will be 40%-45% of our revenue, and we expect that robust growth to continue for a long time. Got it. Flipping from the buyer side to the manufacturer side, can you talk a little bit about continuing to build scale on the manufacturing side and solving for some of the points of friction of onboarding more manufacturers onto the platform as well? Yeah. And again, one of the differentiators that we have is this is not unlike the B2C world, where you've got lots of people doing this. In the B2B world, we're kind of, we're the cat's meow. I don't know if people say it anymore, but we're, you know, we're the place to go. So I think Shawn alluded to this in the beginning, or he mentioned it, we have a waiting list of suppliers who want to join our marketplace. That's a really good place to be. So one of the value props we have for our suppliers is we're giving you work that best fits your capabilities, it's more profitable. So think about it almost like a recommendation engine. If you, the more TikTok videos you watch, I've got a 16-year-old, the more he watches, the more TikTok knows, the next video that he wants to watch. It's the same thing with our suppliers. The more they work with us, the more they're likely to get work that they like to get. So that becomes very addictive to them. But on top of that, we've given them this software called WorkCenter. So we bought a small MES, manufacturing execution system, like a, almost like an ERP for manufacturers, company in Southern California two years ago, and that was a paid, a paid product, a SaaS product. We released a free version of that WorkCenter, and we've given that to all of our manufacturers in Xometry and in...... And so that system is designed to make it easier for manufacturers to manage their work, to manage their quality, to ship, you know, to get the, the shipping label, to enter data into their accounting system, usually it's QuickBooks and things like that. So we're not only giving these suppliers better work, more profitable work, and we're getting smarter and smarter about what that is, but we're actually, and we're reducing their sales and marketing spend, where they don't have to have sales and marketing people. We're also making their operations more effective and efficient, and we're helping them with their quality. We're adding more and more features to WorkCenter to reduce more and more friction. So our ultimate goal here is for the supplier to say, "I would rather run my business out of the Xometry platform than do it on my own. Xometry's giving me all these tools to make it really simple. So kind of think about it like a Shopify, then this is, this is the best place for me to be. So sticking with that point, the more you scale supplier services, how should we be thinking about that being a stimulant for supplier growth as people come off a wait list, elements of possibly extracting better unit economics from suppliers in the marketplace over time, because you're giving them more value add, versus elements of reducing any elements of churn, on the supplier base as well? How should we think about the outputs of some of those supplier services investments? Do you want to just jump in? I'll say. Yeah, I mean, you know, look, we want. The more they run their business with our operating system, if you will, the more sticky they will be on our platform, number one. Number two, you know, we, we offer that up for free because we think the monetization will be, you know, we can offer them financial services products right within WorkCenter. We can help them with their cash flow, and we make, as you know, Eric, we make a little money on the, on the interchange fee there. So, that's a very high margin opportunity, but it's really we want them to be, you know, sticky and work more with, with Xometry. And the other, the holy grail might be, maybe Randy will agree to this, is, as we learn more about their business, that can feed into our AI. We may, you know, we get to a point, we don't know a lot about their day-to-day capacity right now, but with WorkCenter, we might be able to target those jobs to an individual supplier that may have a capacity opening for a few hours. So you think about the, you know, opportunity for us to. That supplier may be able to, to, you know, take a job at a lower price, which is good for our margin. Yeah. So, one of the broader questions that's come up in different forms over the last couple of earnings calls is just elements of you've got this secular growth, addressable market opportunity behind you, but we also live in sort of economic uncertain times. How should we be thinking about the economic resilience or how either side of the marketplace can be more or less volatile, depending on what you see in the broader macro environment right now? I'd say, Shawn, interrupt me at any point here. I'd say, overall, we are taking market share, so you've seen other— There's some vertically integrated manufacturers out there who've reported consistently shrinking revenue year-over-year. So the macros really hit them, and you know, you know some manufacturers who are getting hit as well. Even during that period of time, Xometry's continued to grow at a robust pace, and that's because it just makes more sense for people to buy. So many other things have become digitized. You've seen so many other marketplaces that approach this. It makes sense for that to happen in manufacturing as well. You also think as in tougher economic environments, customers are looking more and more for surety, particularly if these are end-use production parts that they, that their end product depends on. They don't want to take risk, and they know in uncertain, economic times, smaller manufacturers are more vulnerable. So there's a flight to safety, a flight to supply chain resilience. Xometry offers that. And particularly when you think about geopolitical issues, a lot of folks doing things in Asia, again, Xometry is sort of your support to make sure that everything goes right. And likewise, for the suppliers, their particular customers, if you're that supplier in Houston, Texas, that depends on oil and gas, if the oil and gas industry is not doing well, you have no business. Or if you're an automotive guy outside of Detroit, you have no business. The ability for Xometry to help you in those distressed times is very powerful. The trick is, of course, once they get attracted to you in those more difficult times, keeping them and growing them, we're obviously very focused on that. The lure is in there now, removing the friction, ensuring that every time, that buyer is getting the best deal and that supplier is getting stuff that really fits their envelope and their capabilities. The one thing we talk about, you know, we spend a lot of time with investors after the call is, look, I mean, we said it on the call, the underpinnings of our marketplace are growing much faster than our reported revenue. Yeah. You know, our active buyers are up in the mid-40s. You can infer that our order growth is in that same kind of ballpark, but we've seen some customer trade downs, and so our reported revenues in tracking slower was 24% in Q2. That comes to an end in Q4, right? That's when we saw really the ARPU go down last year, when manufacturing slowed. But it's really important to understand that underneath that, the activity in the marketplace is robust. Yeah, understood. Sticking with that theme, you know, you've talked a little bit about competition through all of this, but do you kind of see yourself as, as a unique solution without competition, or are there pockets of competition between the online world and the offline world that you stay pretty focused on in terms of trying to think about unit economics and volumes and who you're competing against on a day-to-day basis? Our competition is the old way of doing business. Yeah. It's not even so much the suppliers, because our suppliers are often the same suppliers who were buying those services today. It's about how you procure that, how you manage your supply chain, and so convincing customers, showing them the value, that there's a better way to do it. And by the way, if you love your particular machine shop, you can still work with them. You're just going to do it via the Xometry marketplace. And again, our customers are buying so many other things like that today. Marketplaces are everywhere. Digital retail, you know, buying online is everywhere. Instant pricing is everywhere. They're also just asking, why not here? Right. It's resonating, but that's really our competition. It's not one particular manufacturer, et cetera. It's just, "Hey, this is the old way of doing things. There's a better way to do things. Got it. So, I mean, just as I was going to say on the unit economics, I mean, it's a good point. So because of AI, because we're getting better at, at pricing, you know, our gross margins are up sharply year-over-year, right? At the same time, we talked about on the call, our advertising spend is getting more efficient. You know, when we came public a couple of years ago, there were some other SPAC players that raised some capital. They didn't have a similar business model, but they were out spending a fair amount on paid search, and so we're just seeing increased efficiency there. At the same time, we're seeing gross margins go up, so our unit economics are improving. Got it. Just to have perspective, in 2019, our gross margin for marketplace was, or overall gross margin was like 18, you know, 18.4%. Last year, our marketplace gross margin was, I think, 28.8, almost 29%. So even as our revenue over that three-year period grew on a compound annual growth basis, 59% on marketplace revenue, our gross profit margin, and this is rare, companies usually sacrifice margin for growth, our margin actually grew even faster, and those unit economics became more attractive. Got it. Sticking with the theme of the better way to do things, you've talked a lot through some of your answers so far, about some of the product innovation on the pricing side and the supplier side. Talk a little bit about what you see as the most mission-critical product initiatives you're most excited about executing on over the next 12-18 months, that can either amplify growth or improve return on capital for the platform? So certainly continue to invest heavily in our AI algorithms. You know, we have patents around them. They're proprietary. That helps us, it helps us, create more attractive pricing for the buyer, so more buyer stickiness. They're going to get what they're expecting to get, looking for. They're going to stay with us. They're going to increase- we're going to increase our share of wallet. It also improves our margins, the ability to expand what we can auto quote, so adding more and more so we can be that one-stop shop, reduce that friction, and for us to improve the matching between buyers and suppliers, so continued investments in improving on that AI. The ability to service those enterprise customers. So Xometry historically has been more for a single engineer or single procurement person to use. The ability now for groups of people or companies to work together, that has the ability then for people to invite them in, kind of like when we got Slack, everybody got invited to Slack. If you wanted to communicate, you had to be in Slack. Same concept with Xometry. As we add these enterprise offerings, it just, it reduces our CAC and just, it allows us to grow quicker, more virally within these large companies. And those are two of the ones I know. I would add international, right? Yeah. I mean, we talked about... I I mean, you know, for a company that we just talked about buyer growth and order growth, let's say, in that sort of 40% range, it was difficult to have, you know, workforce reductions in, you know, at that kind of growth. But what we've done is we've taken some of the fixed costs out of the business and some of the support costs out of the business. We've reinvested some of it, and some of that's going, as you know, are just going international. Yeah. I mean, we saw we had 96% year-over-year growth in Q2, and we expect stronger dollar growth in the second half of the year versus the first half. Got a lot of momentum over there. Got it. Understood. We've talked a little bit about profitability and how you haven't sacrificed profitability to produce the type of growth you have, and, and that's been an area where the last couple of quarters there's been some outsized beats versus expectations on the margin side as well. Talk a little bit about scaling into a higher level of profitability as a company in the coming years. How should we think about the balance between investing while still scaling your profitability, but not, not sort of giving up on some of the growth objectives you have more broadly inside the company? Yeah. So we've talked about how, you know, in the Q4 this year, we want to achieve adjusted EBITDA profitability, which obviously would imply for next year, an overall profitable year. So we've been working hard to reduce our fixed costs. And so we want to improve that unit economics, because as we grow, we want that to be more and more profitable growth. We want more of that to go down to our bottom line. So, we've done as Shawn said, we did 1 reduction in force of 6%. We did another reduction in force of 4%. We closed some of our offices, so we want to continue to have that robust growth. At the same time, we want to make sure that we're building attractive unit economics, scalable economics. We're balancing those two things. I think, you know, we're committed to both. Unless does anyone add to that? No, I mean, you know, in the first half of the year, on a, you know, incremental EBITDA, adjusted EBITDA basis, we dropped about $0.44 to the bottom line. Yeah. In the second half, you kind of work through the guidance, it's about $0.40. So, you know, we've made those decisions, as Randy said, to lower some of those costs, but we... Again, we are putting some back in the right spots, though. When you think about, you know, and I think this will be a debate with companies going into next year, when you think about striking that right balance, what would be some of the opportunity sets where if you've got signals to go faster on the growth, that you might think about just holding or maintaining incremental margins because you don't want to miss out on a growth opportunity? How do you think about what some of those most interesting opportunity sets might be? Look, we want to grow our gross pro- I'm not sure quite what you mean, but if we want to grow our, you know, we're focused on growing gross profit dollars. We want to make sure we've got improving unit economics and, hopefully, you know, ultimately, amortizing that OpEx over our gross profit. So we're trying to balance that. We certainly want to make sure we continue that robust growth and but we've been successful, as we said, over time, to grow that revenue, at the same time, grow that gross profit even more and not lose. We've maintained robust growth in our active buyer count and our growth in orders. Because this is such an inefficient market, I think as we continue to get more data, as we continue to grow our network of suppliers, I think we'll be able to still get that growth while you know, getting that margin as well. Okay. Maybe I'll ask it a little bit differently. Yeah. When you think about allocating capital behind the business over the next 12-24 months, or just pockets where you see opportunity to execute and drive better growth through execution or allocation of capital, how would you rank order some of the opportunity sets for capital allocation and execution behind those growth goals as a way to sort of wrap up in the last few minutes? Certainly, technology continues to be a big investment. We talk about our, our AI algorithms, enhancements, you know, to both our, our platform for our buyers, whether it's Xometry.com or Thomasnet.com or WorkCenter, the, the product that we give our, our suppliers. As Shawn says, we continue to invest in international growth. That's helpful not only for the local markets, but we also have a lot of customers that are truly international, that are in, in multiple geographies. And so the ability to go to that customer and say, "Not only can I offer you multiple technologies here in the United States, but by the way, you can do your purchasing in Western Europe, you can do your purchasing in Asia. All that can happen through the Xometry marketplace, and we can deliver it to you locally," I think that's very powerful, too. I think the other one is, you know, we talked even on this call, that we just got the largest production, multi-year production order in the company's history. You know, we get seven-figure deals. We just brought in a new head of enterprise sales who was at Salesforce. And look, we have the opportunity. It's not here today, but we have the opportunity to have... These are the largest companies in the world who are our customers. We know they do multitudes of what our revenue is in terms of customer manufacturing. Can they sign up for a commitment of spend to Xometry that would be meaningful, and we'd have to tell you guys about it. And so that's a real target. Part of what we had to set up in advance was we had to have the menu on the marketplace be broad enough, right? So we can be that one-stop shop, and we've expanded that significantly in the past couple of years. We have an enterprise sales force. We've already invested in that. We can always continue to improve on that capability, and we have a new leader there, and stay tuned. All right. Well, super clear. Please join me in thanking the team from Xometry for being part of the conference this year. Thanks, Eric. Thank you.