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 (NASDAQ:XMTR), the global AI-powered marketplace for manufacturing services, has appointed Roy Azevedo to its Board of Directors. Azevedo, former president of two Raytheon Technologies business units, brings extensive experience in engineering, global manufacturing, and supply chain management. His expertise in digitizing operations and embracing emerging technologies like AI and machine learning aligns with Xometry's mission.
CEO Randy Altschuler highlighted Azevedo's understanding of creating resilient supply chains for global companies, which will be valuable as Xometry scales internationally. Azevedo expressed enthusiasm for Xometry's growth potential and its role in digitizing the product lifecycle. With a background in electrical engineering and over three decades at Raytheon, Azevedo's appointment strengthens Xometry's position in the rapid digital transformation of the manufacturing industry.
Xometry, Inc. (NASDAQ: XMTR), an AI-powered marketplace for manufacturing services, has announced it will release its third quarter 2024 financial results before the market opens on Tuesday, November 5, 2024. The company will host a conference call and webcast to discuss the results at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time) on the same day.
In addition to the press release, Xometry will also release an earnings presentation, which will be available on their investor website at investors.xometry.com. Interested parties can register for the conference call using the provided link or visit the Xometry Investor Relations Homepage to listen to a live webcast. The earnings webcast presentation will be archived within the Investor Relations section of Xometry's website for future reference.
Xometry Europe has introduced a new suite of tools for enterprise customers to manage complex, high-volume manufacturing projects. The user-friendly dashboard at Xometry.eu/en offers powerful digital tools for engineers, designers, procurement professionals, and project managers to coordinate and collaborate effectively. These tools provide real-time access to procurement data, enabling smart, data-driven decisions.
Key features include instant quotes, project tracking, quote management, communication with Xometry's production and engineering teams, quotes for various manufacturing technologies, and batch order scheduling. The tools also support quoting for assembly and welding projects. This suite aims to streamline quote and order management while giving customers access to Xometry's vast global supplier network.
Xometry (NASDAQ:XMTR), the global AI-powered marketplace for manufacturing services, has announced its participation in several upcoming investor conferences. These include Citi's 2024 Global TMT Conference on September 4 in New York City, the Goldman Sachs Communacopia + Technology Conference on September 11 in San Francisco (featuring a fireside chat at 4:25 p.m. PT), and CL King's 22nd Annual Best Ideas Conference 2024 on September 16 (virtual).
Xometry's two-sided marketplace is important in the digital transformation of manufacturing. The company's technology aims to shorten development cycles, improve corporate efficiencies, and build resilient supply chains. Xometry's product portfolio includes its digital marketplace, the Thomasnet® industrial sourcing platform, and cloud-based tools like Xometry Teamspace for project management.
Xometry, the global AI-powered manufacturing marketplace, is beta-testing laser tube cutting and tube bending capabilities through its AI-powered platform. Leveraging Google Cloud's Vertex AI, Xometry aims to accelerate the deployment of new auto-quote methods and models, offering instant pricing and lead times for both tube cutting and tube bending. This expansion is expected to make Xometry one of the first digital marketplaces to provide such comprehensive instant quoting for these processes.
The new offerings, set to roll out later this quarter, will utilize Xometry's extensive supplier network of industrial tube manufacturing. This development aligns with Xometry's mission to digitize manufacturing globally and provide buyers with the tools needed to produce parts and create resilient supply chains efficiently.
Xometry (NASDAQ:XMTR) has reported its Q2 2024 results, showcasing a record revenue of $133 million, up 19% year-over-year, driven by a 25% increase in marketplace revenue to $117 million. Total gross profit rose 21% to $52.9 million, with a gross margin of 39.9%. Marketplace gross profit increased by 33%, and supplier services gross margin rose 910 basis points to 88.9%.
However, supplier services revenue decreased by 13% to $15.3 million due to exiting lower-margin businesses. Despite this, Xometry's net loss narrowed by $12.9 million year-over-year to $13.7 million, aided by a 70% improvement in adjusted EBITDA loss to $2.6 million.
Key metrics include a 27% increase in Marketplace Active Buyers to 61,530, and a 24% rise in accounts with over $50,000 spent in the last 12 months to 1,436. Active Paying Suppliers decreased by 7% to 6,992.
For Q3 2024, Xometry expects revenue of $136-$138 million and an adjusted EBITDA loss of $1.5-$3.5 million. Full-year 2024 guidance reaffirms at least 20% marketplace revenue growth and expects supplier services revenue to decline by 10%.
A recent survey by Xometry and Zogby Strategies reveals intriguing insights into manufacturing CEOs' views on the 2024 presidential race and industry trends. While 53% of CEOs credit Biden Administration policies for helping their businesses, 55% prefer Trump over Harris (38%) for the presidency. Despite this, Harris leads among Democratic contenders.
The survey also highlights optimism in the manufacturing sector:
- 71% of CEOs expect to surpass 2023 sales
- 75% are investing heavily in AI
- 51% are investing in automation
CEOs report significant ROI from AI investments and are less concerned about a potential recession. However, challenges persist, including difficulty finding qualified employees and concerns about geopolitical hotspots affecting business.
Xometry, Inc. (NASDAQ: XMTR), an AI-powered tech marketplace for manufacturing services, has announced its plans to release second quarter 2024 financial results on August 8, 2024, before the market opens. The company will host an earnings call and webcast at 8:30 a.m. Eastern Time on the same day. Xometry will also release an earnings presentation, available on their investor website. Interested parties can register for the call using the provided link or access the live webcast through Xometry's Investor Relations Homepage. The earnings webcast presentation will be archived on the company's website for future reference.
Xometry has launched new advertising spots featuring Awake Window & Door Co., highlighting their collaboration in manufacturing injection-molded components. These ads are part of Xometry's 'Where Big Ideas Are Built' campaign, showcasing Awake's mission of providing second-chance employment to formerly incarcerated individuals. The videos, available in 15-, 30-, and 60-second formats, emphasize quality prototyping and production services offered by Xometry, which has been pivotal in Awake’s growth. Xometry's extensive network has facilitated Awake’s access to additional services such as 3D printing and CNC machining.
Xometry, an AI-powered marketplace for custom manufacturing services, has appointed Subir Dutt as its new Chief Sales Officer, effective May 15, 2024. Dutt, with extensive sales leadership experience at Google, Oracle, and CapGemini, will succeed Kathy Mayerhofer. At Google Cloud, Dutt achieved triple-digit revenue growth as head of mid-Atlantic enterprise sales. CEO Randy Altschuler praised Dutt's expertise in AI and cloud services, which aligns with Xometry’s focus on digital transformation in manufacturing. Mayerhofer will assist Dutt in the transition, ensuring continuity. Under Mayerhofer, Xometry’s revenue grew from $17 million in 2017 to $463 million in 2023.
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