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. (NASDAQ: XMTR) is frequently in the news as a global AI-powered marketplace connecting buyers and suppliers of custom manufacturing. Company updates often highlight enhancements to its digital platforms, growth in marketplace activity and developments across its ecosystem of buyers, suppliers and industrial partners. News coverage reflects Xometry’s focus on digitizing manufacturing workflows and expanding the capabilities of its online marketplace and related services.
Recent announcements have included record quarterly financial results, with details on marketplace revenue, supplier services revenue, gross profit and key operating metrics such as Active Buyers and accounts with significant last-twelve-months spend. These releases explain how Xometry’s execution on initiatives like expanding buyer and supplier networks, deepening enterprise engagement, growing internationally and enhancing supplier services contributes to its financial performance.
Product and platform news is another recurring theme. Xometry has reported expansions of its additive manufacturing materials, the launch of auto-quote capabilities for injection molding in the U.S. and Europe, and new features in its automated quoting platform, such as preferred subprocess selection and additional tolerance options. The company has also announced CMMC Level 2 certification for supporting aerospace and defense customers and described plans for more granular global sourcing controls.
Updates from Thomas, a Xometry business, and the Workcenter platform also appear in the news flow. These include the launch of Thomas Smart Search, performance-based ad listings for industrial suppliers, and the Workcenter Mobile App that enables partners to manage jobs and workflows on the go. Investors and industry professionals following XMTR news can expect coverage of earnings releases, technology enhancements, marketplace metrics, supplier tools and research such as Xometry’s Manufacturing Outlook report.
Xometry, Inc. (NASDAQ:XMTR), a leader in online manufacturing services, announced that CEO Randy Altschuler will represent the company at the Loop Capital Markets 2023 Conference in New York City on March 14, 2023. This opportunity highlights Xometry's commitment to connecting enterprise buyers with suppliers, facilitating a robust digital marketplace for manufacturing services. By enabling large companies to utilize global manufacturing capacity, Xometry assists them in building resilient supply chains. More details can be found at www.xometry.com.
Xometry (NASDAQ: XMTR) has acquired Tridi, Turkey's leading on-demand manufacturing platform, enhancing its European presence. This acquisition allows Xometry to launch a localized marketplace at xometry.com.tr, enabling customers to receive quotes and make purchases in local currency. Tridi serves various sectors including aerospace, automotive, and consumer electronics, providing services like CNC machining and 3D printing. With this move, Xometry aims to create resilient supply chains for European customers, reflecting its commitment to becoming a key player in the industrial marketplace.
Xometry reported a 46% revenue increase year-over-year for Q4 2022, totaling $98.2 million, driven by a 32% marketplace growth and supplier services. Gross profit rose 72% to $36.0 million. Despite these gains, the company's Q4 Adjusted EBITDA loss was $14.2 million, reflecting lower gross margins. Expected Q1 2023 revenue growth is projected at 20%-22%, amounting to $100-$102 million. Xometry is implementing a 5-point strategic plan aimed at expense reduction, including a 6% workforce reduction. Active buyers increased 45% to 40,664 with strong revenue concentration from existing accounts, which represented 96% of total revenue.
Xometry, Inc. (NASDAQ: XMTR) announced its plans to report fourth quarter and full-year 2022 financial results before the market opens on March 1, 2023. The company will host a conference call at 8:30 a.m. ET to discuss these results. An earnings presentation will be available on Xometry's investor website. Xometry connects enterprise buyers with suppliers of manufacturing services, enhancing supply chain resilience and supporting industry growth.
Gravity Climate and Xometry have launched a new initiative aimed at helping industrial customers understand and reduce their supply chain's carbon footprint. The integration uses Gravity's API to provide real-time carbon emissions estimates based on product materials, manufacturing processes, mass, and geography. This tool enhances the efficiency of procurement and sustainability teams in measuring Scope 3 emissions and complying with emissions disclosure commitments. The collaboration reflects a growing trend among companies to adopt sustainable practices and promote greener supply chains.
Xometry (NASDAQ: XMTR) has expanded its operations in Europe with the launch of a localized marketplace for UK customers, now available in 9 languages. This initiative allows UK clients to quote and buy parts in Pound Sterling, enhancing efficiencies in supply chains. The Instant Quoting Engine facilitates immediate pricing and feedback for 15 manufacturing technologies. Xometry aims to strengthen connections between businesses and manufacturers, fostering locally resilient supply chains while offering diverse manufacturing capabilities, including CNC machining and 3D printing.
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.
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