Xometry, Inc. - XMTR STOCK NEWS

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.

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.