Welcome to our dedicated page for Xometry news (Ticker: XMTR), a resource for investors and traders seeking the latest updates and insights on Xometry stock.
Xometry, Inc. operates an AI-native marketplace that connects buyers and suppliers of custom manufacturing, supported by the Thomasnet industrial sourcing platform and cloud-based services. Company news commonly covers marketplace revenue trends, buyer and supplier network expansion, enterprise customer engagement, international growth, and service enhancements tied to real-time pricing and lead-time data.
Updates also include product and platform developments such as the Xometry Instant Quoting Engine, lead-time prediction models, dynamic pricing logic, and partnerships that embed manufacturability, pricing, sourcing, and execution intelligence into industrial design and procurement workflows. Other recurring items include quarterly earnings releases, investor conference participation, and Thomas sourcing partnerships with manufacturing organizations.
On January 10, 2023, a survey by Xometry and Forbes revealed that 55% of American manufacturing CEOs plan to reshore operations this year. A notable 64% believe America's manufacturing capacity can address global supply chain issues. The survey indicates a rise in investments in automation, digital workflows, and R&D, with 72% of CEOs focusing on automation. Amid persistent inflation, 95% of CEOs express optimism about the economy, with many planning to raise prices by 5%-20%. The results reflect a strong belief in the resilience and modernization of American manufacturing.
Xometry (NASDAQ: XMTR) has partnered with Nexa3D to offer advanced 3D printing services using Nexa3D's ultrafast Lubricant Sublayer Photo-curing® (LSPc®) technology. This service will be available through Xometry's global network of manufacturing suppliers, aiming to meet the growing demand for faster lead times on engineered components. The partnership is expected to enhance productivity by up to 20 times compared to traditional methods, providing economical solutions for low-volume, high-mix production requirements.
Xometry reported an 83% year-over-year revenue increase for Q3 2022, reaching $103.6 million, driven by nearly 55% marketplace growth and strong supplier services revenue. Gross profit surged 182% year-over-year to $40.9 million. The company expects Q4 revenue to grow 55-58% to $104-$106 million, supported by rising active buyers and suppliers. Despite a Q3 Adjusted EBITDA loss of $6.5 million, improvements signal a potential positive swing by the second half of 2023. However, challenges include suppliers accepting lower prices, potentially dampening near-term revenue growth.
Xometry (NASDAQ:XMTR) announced that CEO Randy Altschuler and CFO Jim Rallo will present at the RBC Capital Markets 2022 Technology, Internet, Media and Telecommunications Conference. This event will showcase Xometry's role as a global online marketplace connecting enterprise buyers with manufacturing service suppliers. Interested parties can access a live webcast of the presentation through the Investor Relations section of Xometry's website, with an archived replay available afterward.
Xometry, Inc. (NASDAQ: XMTR) will report its third quarter 2022 financial results on November 10, 2022, before market opening. A conference call will be held at 8:30 a.m. ET to discuss these results. An earnings presentation will be available on their investor website.
Xometry operates a global online marketplace that connects enterprise buyers with suppliers of manufacturing services, promoting efficient supply chains and global manufacturing capabilities.
Xometry, a technology company (NASDAQ: XMTR), has announced the provision of 19 full-tuition scholarships for manufacturing students at nine Connecticut community colleges. This initiative is part of their pledge to support 250 manufacturing students nationwide.
Connecticut is facing a skills gap in manufacturing, with 88% of executives struggling to find qualified workers. Xometry's scholarships aim to address this issue by training the next generation of machinists, technicians, and engineers.
Xometry has announced important leadership changes, promoting Matt Leibel to Chief Technology Officer and appointing Brendan Sterne as Chief Product Officer. Leibel, a key player in enhancing Xometry’s AI and software capabilities since 2019, brings valuable expertise to the role. Sterne, joining from Indeed, is recognized for his experience in scaling products and revenue. These appointments, announced by CEO Randy Altschuler, aim to bolster Xometry's innovative approach to connecting buyers and suppliers in the marketplace.
Xometry, Inc. (NASDAQ:XMTR) will celebrate Manufacturing Day by hosting a webcast titled 'Building American Manufacturing Resilience' on Oct. 7, featuring executives from Forbes, Women in Manufacturing Association, and Zogby Strategies. The event will discuss a recent survey conducted by Xometry, revealing that 90% of CEOs anticipate ongoing supply chain issues into 2023. However, the survey indicates that 80% are planning significant capital investments to adapt and thrive amid challenges. Registration for the live event is available online.
Xometry released a survey in partnership with Forbes, revealing that 90% of CEOs anticipate ongoing supply chain challenges into 2023. Despite these concerns, 80% plan to invest in capital improvements, talent, and technology. The survey indicates that 70% are focusing on employee investments, and 64% are reshoring or nearshoring operations. Notably, 55% of CEOs have absorbed cost increases rather than passing them on. The survey highlights the resilience and innovative strategies among manufacturing leaders as they adapt to disruptions.
Xometry, a technology company listed on NASDAQ under the symbol XMTR, has announced a donation of full-tuition scholarships for community college students in Connecticut. This initiative aims to nurture the next generation of machinists, technicians, and engineers across nine colleges. By investing in education, Xometry seeks to address supply chain and inflation challenges while enhancing the workforce in domestic manufacturing. This scholarship program also extends to nearly 250 students in other manufacturing states, reinforcing Xometry's commitment to supporting skilled workers.