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.
Overview of Xometry, Inc.
Xometry, Inc. (NASDAQ: XMTR) is a pioneering AI-powered digital marketplace that seamlessly connects enterprise buyers with suppliers of advanced manufacturing services. By merging cutting-edge technologies with a robust cloud-based platform, Xometry is transforming the way custom parts and prototypes are built, utilizing processes such as CNC machining, injection molding, 3D printing, urethane casting, and die casting. With a focus on digital transformation and supply chain resiliency, the company enables both startups and established corporations to access globally distributed manufacturing capacity and advanced digital tools on-demand.
Business Model and Core Services
At its core, Xometry operates as a two-sided marketplace that facilitates efficient interaction between buyers looking for custom manufacturing solutions and a vast network of qualified suppliers. The platform employs an advanced Instant Quoting Engine that leverages millions of data points to analyze part complexities in real-time, ensuring accurate pricing and lead times. Key proprietary technologies and data-driven algorithms enable the matching of buyers with suppliers equipped to meet precise manufacturing requirements.
- Digital Quoting and Pricing: Utilizing an AI-powered engine to provide instant, data-backed quotes for complex parts.
- Cloud-Based Tools: Offering a suite of digital solutions including centralized project management software that supports large-scale and mission-critical projects.
- Multi-Process Capabilities: Covering an extensive range of manufacturing methods such as CNC machining, injection molding, urethane casting, 3D printing, and die casting.
Technological Innovation and Market Position
Xometry stands out through its rigorous integration of artificial intelligence and cloud computing in the manufacturing process. The platform harnesses sophisticated algorithms for auto-quoting, enabling buyers to quickly access pricing and production timelines. This technological innovation not only accelerates production cycles but also drives operational efficiencies, setting Xometry apart in the competitive landscape of digital manufacturing solution providers.
Industry Leadership and Operational Excellence
The company has effectively positioned itself as a vital player within the manufacturing ecosystem by offering a digital solution that addresses the complexities of on-demand production. Xometry's marketplace is built on core principles of transparency and flexibility, catering to a broad spectrum of customers ranging from engineers and product designers to procurement and supply chain professionals. The platform’s continuous improvements and international expansion, including local language support and region-specific marketplaces, emphasize its commitment to fostering resilient supply chains globally.
Supplier Network and Global Reach
Xometry has developed a substantial network of active suppliers across multiple continents. This extensive network provides buyers with access to a wide variety of manufacturing processes and materials, allowing for a comprehensive range of custom part solutions. The company’s ability to integrate local suppliers into a global framework ultimately enhances the ease of access to high-quality manufacturing services and supports a scalable supply chain model.
Expertise and Industry Impact
Leveraging extensive industry experience and a management team with a successful track record in scaling startups, Xometry has built a platform that is synonymous with trust and precision in manufacturing. The company’s commitment to digital innovation, supported by partnerships with technology leaders, underscores its position as a key facilitator of digital transformation in manufacturing.
Explaining the Value Proposition
The value proposition of Xometry is centered on providing an integrated, AI-enhanced manufacturing marketplace that not only reduces lead times and enhances operational efficiency but also democratizes access to advanced manufacturing services. By breaking down geographical and technical barriers, the platform empowers businesses of varying scales to bring their product designs to life with ease and reliability.
Summing Up
Xometry, Inc. is at the forefront of the digital transformation in manufacturing, offering an advanced AI-powered marketplace that bridges the gap between innovative product ideas and practical manufacturing execution. The comprehensive blend of technology, extensive supplier network, and robust cloud-based tools makes it an essential resource for a modern, resilient, and agile manufacturing ecosystem.
Xometry, Inc. (NASDAQ: XMTR) is set to release its third quarter 2021 financial results on November 10, 2021, after the market closes. A conference call to discuss the results will follow at 5:00 p.m. Eastern Time. Interested parties can dial (877) 313-2061 for US/CAN or (470) 495-9537 internationally to participate. An earnings presentation will also be accessible on its investor website. Xometry utilizes AI for on-demand manufacturing, servicing a wide range of clients from startups to Fortune 100 companies.
Xometry, Inc. (NASDAQ: XMTR) has launched Version 2.0 of its app for Autodesk Fusion 360, enhancing on-demand manufacturing capabilities. This update includes instant manufacturability feedback and multiple part upload features, aiding engineers in design improvement and efficiency. Users can now obtain pricing and lead time estimates seamlessly within the design interface. Additionally, Xometry is offering a 10% discount on custom parts orders through the app in the US, with plans for a European version.
On September 8, 2021, Xometry (NASDAQ:XMTR), an AI-enabled marketplace for on-demand manufacturing, announced upcoming presentations at virtual conferences. Key events include:
- CL King Best Ideas Conference on September 14 at 9:30 a.m. ET
- Citi's 2021 Global Technology Virtual Conference on September 15 at 8:00 a.m. ET
- Jefferies Virtual Software Conference on September 15 at 4:30 p.m. ET
Xometry, a leading AI-enabled marketplace for on-demand manufacturing, reported a 45% year-over-year revenue increase, reaching $50.6 million for Q2 2021. Active Buyers surged by 66% to 23,942, with 95% of revenue sourced from existing accounts. Despite a 44% rise in gross profit to $11.9 million, the company faced a net loss of $12.3 million, exacerbated by stock-based compensation. Cash and equivalents amounted to $37.4 million with $15.9 million in debt. Following its July IPO, Xometry secured net proceeds of $325.3 million, fueling its growth strategy.
Xometry, Inc (NASDAQ: XMTR), a prominent AI-enabled marketplace for on-demand manufacturing, will release its second quarter 2021 financial results after market close on August 12, 2021. The company invites stakeholders to join its conference call and webcast at 5:00 p.m. ET on the same day to discuss the earnings report. An earnings presentation will also be available on Xometry's investor website. Xometry serves a diverse clientele ranging from startups to Fortune 100 companies, showcasing its technological advancements in the manufacturing sector.
Xometry appoints Ranjana Clark to its Board of Directors, aiming to enhance its operations in the on-demand manufacturing sector. Clark, with over 30 years of experience, previously led significant roles at PayPal and MUFG. Her expertise in payments and business strategies is expected to support Xometry's mission to disrupt the $260B manufacturing industry. CEO Randy Altschuler emphasized her role in driving growth and improving cash flow for manufacturers using Xometry’s AI-enabled marketplace.
Xometry (NASDAQ: XMTR) has launched instant quoting for metal binder jetting, enhancing its Instant Quoting Engine in collaboration with ExOne, a leader in metal 3D printing. This addition allows customers to receive immediate quotes for high-strength metal parts. Bill Cronin, Chief Revenue Officer, emphasized the platform's flexibility and expanded capabilities. The binder jetting technology offers cost-effective production of complex metal parts with excellent mechanical properties, catering to industries such as aerospace and automotive.
Xometry, a leading AI-enabled marketplace for on-demand manufacturing, has successfully closed its initial public offering (IPO) of 7,906,250 shares of Class A common stock at $44.00 per share. This includes the underwriters' full option to purchase an additional 1,031,250 shares. The stock is now listed on Nasdaq under the symbol XMTR. Goldman Sachs, J.P. Morgan, and UBS acted as joint lead book-running managers for the offering. A registration statement was filed with the SEC, and copies of the final prospectus are available from the lead managers.
Xometry has priced its initial public offering (IPO) of 6,875,000 shares of Class A common stock at $44.00 per share, with an option for underwriters to purchase an additional 1,031,250 shares. The shares will trade on the Nasdaq under the symbol 'XMTR,' starting on June 30, 2021, and the offering is expected to close on July 2, 2021. This IPO was registered with the SEC on June 29, 2021, and involves prominent financial institutions such as Goldman Sachs, J.P. Morgan, and UBS as lead managers.
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