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 and the Women in Manufacturing Association (WiM) released their third annual 'Career Advancement for Manufacturing' report, highlighting that 82% of women would recommend a manufacturing career, an increase from 75% in 2022. Despite this optimism, women hold only 25% of leadership roles in manufacturing, indicating a stagnation in representation. The report also emphasizes that women graduating from STEM programs are significantly more likely to enter manufacturing careers, with 38% of women versus 18% of men. Agriculture, electronics, and environmental sectors lead in female leadership representation. Most desired employee benefits include health insurance (79%), flexible work schedules (72%), and 401(k) matching (66%). The report underlines the need for immediate action to enhance female participation and representation in the manufacturing industry.
Xometry, Inc. (NASDAQ: XMTR) will release its first quarter 2023 financial results on May 10, 2023, before market opening. The company will hold a conference call at 8:30 a.m. ET to discuss these results. Xometry's digital marketplace connects enterprise buyers with manufacturing service suppliers, facilitating growth for manufacturers and ensuring access to global manufacturing capabilities for large enterprises. Investors can register for the call and access the earnings presentation via its investor website, which will also archive the webcast. This earnings report is anticipated to provide insights into Xometry's operational performance and future outlook.
The latest quarterly survey reveals a significant shift in American manufacturing, with 82% of CEOs embracing reshoring strategies, marking a rise from 55% in January. This optimism is driven by the belief that there is sufficient manufacturing capacity in the U.S., with 71% affirming this notion. Additionally, 51% of companies are investing in artificial intelligence (AI), with 68% reporting significant returns on investment. While most executives remain committed to their strategic plans for 2023, 89% anticipate a potential recession, and 54% believe interest rates should be lowered. The survey underscores the importance of technology in future operations, as 97% of CEOs see AI as essential for modernization.
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