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), 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.
Xometry (NASDAQ: XMTR) will participate in two key investor events: the J.P. Morgan Global Technology, Media and Communications Conference on May 20 in Boston, and the William Blair Growth Stock Conference on June 5 in Chicago. The webcasts and replays of these sessions will be available on Xometry's Investor Relations website. Xometry is a global AI-powered marketplace connecting enterprise buyers with manufacturing service suppliers. Their technology enhances development cycles, drives efficiencies, and supports resilient supply chains. Xometry’s offerings include a digital marketplace, Thomasnet® industrial sourcing platform, and cloud-based management tools like Xometry Teamspace.
Xometry reported a 16% year-over-year increase in Q1 revenue to $123 million, with a 22% increase in gross profit and a record 32% gross margin. Adjusted EBITDA loss improved by 37%. The company aims for long-term growth through various initiatives. However, supplier services revenue decreased by 17%, leading to a net loss of $16.6 million.
FAQ
What is the current stock price of Xometry (XMTR)?
What is the market cap of Xometry (XMTR)?
What does Xometry, Inc. do?
Who are Xometry's primary customers?
What manufacturing processes does Xometry offer?
Where does Xometry generate most of its revenue?
What recent features has Xometry introduced?
What is the Instant Quoting Engine® by Xometry?
How is Xometry contributing to the digital transformation of manufacturing?
What are Xometry's strategic priorities?
How has Xometry performed financially?
Where can I find more information about Xometry's financial performance?
