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 a pioneering company in the field of low-volume manufacturing, leveraging its advanced AI-powered marketplace to connect enterprise buyers with a global network of suppliers. Established in October 2013, Xometry has rapidly grown into a formidable player in the manufacturing industry, boasting over $7 million in raised capital and a robust team of experienced professionals.
Xometry serves a diverse clientele ranging from startups to Fortune 100 companies, offering 24/7 access to cutting-edge manufacturing technologies. These include CNC Machining, Injection Molding, Urethane Casting, 3D Printing, and Die Casting. The company is organized into two main segments: the U.S. and International, with the majority of its revenue generated from the U.S. market.
The company's core offerings are designed to shorten development cycles, increase efficiencies, and create resilient supply chains. Xometry’s flagship product, the Instant Quoting Engine®, utilizes millions of data points to provide real-time pricing and lead times, matching buyers with the most suitable suppliers globally.
In recent developments, Xometry has introduced enhanced features to its Teamspace enterprise collaboration software and expanded its marketplace with new finishing options and a Knowledge Hub for engineers and designers. This continuous innovation underscores Xometry's commitment to modernizing manufacturing processes and fostering a high-tech, resilient industry.
With a strong emphasis on AI, automation, and robotics, Xometry is not just keeping pace with the digital transformation in manufacturing but is actively driving it. The company’s management team, led by CEO Randy Altschuler, has a proven track record of successfully scaling startups and maintains a forward-looking approach towards reshoring and localizing supply chains—efforts that are crucial in today's ever-evolving geopolitical and economic landscape.
Through strategic partnerships, continuous investment in technology, and a focus on cultivating skilled talent, Xometry is well-positioned to be a cornerstone in the future of manufacturing.
Xometry, Inc. (NASDAQ: XMTR) will report its first quarter 2022 financial results on May 11, 2022, before market opening. The earnings presentation will also be available on the investor website. A conference call will take place at 8:30 a.m. ET to discuss the results. Investors can participate by dialing (877) 313-2061 (U.S./Canada) or (470) 495-9537 (International), using conference ID 1993784. Xometry connects companies with manufacturers via its digital marketplace.
Xometry has obtained ISO 13485 certification, enhancing its capabilities in medical device manufacturing. This certification enables Xometry to expand its footprint in the medical sector, where it already collaborates with 86 percent of Fortune 500 medical product and equipment companies, providing essential prototyping and manufacturing support. The Xometry marketplace facilitates the development of innovative products across various industries, contributing significantly to the economy.
On March 23, 2022, Xometry launched its 'Xometry Everywhere' software, integrating its AI-driven quoting technology across third-party sites. This innovation aims to enhance the accessibility of Xometry's quoting engine, particularly targeting Thomasnet.com with its 1.4 million users, generating over 20 million sourcing sessions annually. CEO Randy Altschuler emphasized that this move fosters resilience in supply chains and supports domestic and international manufacturers. The new software provides features like instant quoting and lead-time estimates to optimize the procurement process.
Xometry, a leading AI-enabled digital manufacturing marketplace, reported a strong finish to 2021 with a 77% year-over-year revenue growth, reaching $67.1 million in Q4. The strategic acquisition of Thomas added 1.4 million registered buyers and approximately 500,000 sellers. Gross profit surged by 121% to $20.9 million. Xometry anticipates a revenue growth of 79-83% for 2022, projecting between $390 million and $400 million. However, a net loss of $23.9 million was reported in Q4, increasing year-over-year. The company raised $278.9 million from a recent Convertible Senior Note offering for working capital and growth investments.
Xometry, a global digital manufacturing marketplace, announced two upcoming 'Xometry Live' virtual events focused on inclusive leadership in manufacturing. The first event, on March 8, features independent journalist Miles O'Brien discussing accessible design with 3D printing for people with disabilities. Xometry also partners with Blue Heart Hero for a contest on designing assistive kitchen devices. The second event, on March 10, will address advancing women in manufacturing, led by prominent industry figures. Both events emphasize diversity and innovation in manufacturing.
Xometry, Inc. (NASDAQ: XMTR) will report its fourth quarter 2021 financial results on March 17, 2022, after market close. A conference call and webcast will be held the same day at 5 p.m. Eastern Time. The earnings presentation will be available on Xometry's investor website. Xometry connects innovative ideas with manufacturers, facilitating operational growth for suppliers and providing Fortune 1000 companies with access to global manufacturing capacity.
Xometry, a leader in product sourcing and marketing solutions, in collaboration with the Women in Manufacturing Association (WiM), has released the findings of its ‘Career Advancement for Manufacturing Annual Report’ based on survey responses from 663 industry professionals. The report highlights key insights into gender representation in manufacturing and emphasizes the positive outlook for women in the sector. Notably, 75% of women in manufacturing are likely to recommend careers in the field, and 48% participated in STEM programs as a pathway to their careers.
Xometry, a digital marketplace for on-demand manufacturing, has announced new initiatives including a cloud-based enterprise software from FactoryFour, aimed at streamlining manufacturing operations. This manufacturing execution system integrates with the Xometry Marketplace and Thomasnet.com, providing suppliers with a centralized order management tool. Additionally, Xometry is rolling out 'Xometry Partner' badges on Thomasnet.com to enhance connectivity between manufacturers and buyers. The software is expected to be available in Q2 2022, further supporting Xometry's commitment to digitizing the manufacturing sector.
Xometry, a digital marketplace for on-demand manufacturing, has priced $250 million in 1.00% Convertible Senior Notes due 2027, aimed at qualified institutional buyers. The offering is expected to close on February 4, 2022. The net proceeds are estimated at $241.9 million, intended for working capital, general corporate purposes, and strategic acquisitions. The Notes, convertible under specific conditions, may also be redeemed after February 2025. The offering is private and not registered under the Securities Act, thus limiting resale options.
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