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) operates a leading AI-powered marketplace transforming on-demand manufacturing through advanced technologies and a global supplier network. This page aggregates official announcements, financial updates, and strategic developments for investors and industry professionals.
Access real-time updates on earnings reports, manufacturing innovations, and partnership announcements. Our curated collection includes press releases about new platform features, supply chain initiatives, and leadership changes that impact Xometry's market position.
Key coverage areas include quarterly financial results, AI technology deployments, strategic acquisitions, and operational expansions. Users can track developments in CNC machining capabilities, 3D printing advancements, and international market growth initiatives.
Bookmark this page for streamlined access to Xometry's latest business milestones. Check regularly for updates on manufacturing automation breakthroughs and industry recognition that demonstrate the company's leadership in digital transformation.
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.
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