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, a global online marketplace connecting buyers with manufacturing services, has enhanced its Instant Quoting Engine to automatically quote parts with multiple finishes. This update responds to the growing demand for complex parts and expands materials and finishes options, including galvanized steel and stainless steel. Notably, the new quick-turn injection molding service allows for quotes in as little as two hours. The improved order page offers users a comprehensive view of their purchase history and current orders, further optimizing the customer experience. This initiative aims to streamline the quoting process, reducing the time required for buyers to receive pricing and lead-time information.
Xometry’s AI-Powered Instant Quoting Engine will be embedded in 1688.com, Alibaba Group’s largest wholesale marketplace in China. This exclusive partnership enables Chinese companies to obtain instant quotes and lead times from suppliers, enhancing supply chain resiliency and digitizing the sourcing process. The integration, announced during the Shenzhen International Industrial Manufacturing Technology and Equipment Exhibition, is expected to improve efficiency in bringing products to market. Xometry’s technology aims to foster innovation and assist manufacturers in attaining more work. The product is set to launch in late April 2023.
Xometry, Inc. (NASDAQ:XMTR), a leader in online manufacturing services, announced that CEO Randy Altschuler will represent the company at the Loop Capital Markets 2023 Conference in New York City on March 14, 2023. This opportunity highlights Xometry's commitment to connecting enterprise buyers with suppliers, facilitating a robust digital marketplace for manufacturing services. By enabling large companies to utilize global manufacturing capacity, Xometry assists them in building resilient supply chains. More details can be found at www.xometry.com.
Xometry (NASDAQ: XMTR) has acquired Tridi, Turkey's leading on-demand manufacturing platform, enhancing its European presence. This acquisition allows Xometry to launch a localized marketplace at xometry.com.tr, enabling customers to receive quotes and make purchases in local currency. Tridi serves various sectors including aerospace, automotive, and consumer electronics, providing services like CNC machining and 3D printing. With this move, Xometry aims to create resilient supply chains for European customers, reflecting its commitment to becoming a key player in the industrial marketplace.
Xometry reported a 46% revenue increase year-over-year for Q4 2022, totaling $98.2 million, driven by a 32% marketplace growth and supplier services. Gross profit rose 72% to $36.0 million. Despite these gains, the company's Q4 Adjusted EBITDA loss was $14.2 million, reflecting lower gross margins. Expected Q1 2023 revenue growth is projected at 20%-22%, amounting to $100-$102 million. Xometry is implementing a 5-point strategic plan aimed at expense reduction, including a 6% workforce reduction. Active buyers increased 45% to 40,664 with strong revenue concentration from existing accounts, which represented 96% of total revenue.
Xometry, Inc. (NASDAQ: XMTR) announced its plans to report fourth quarter and full-year 2022 financial results before the market opens on March 1, 2023. The company will host a conference call at 8:30 a.m. ET to discuss these results. An earnings presentation will be available on Xometry's investor website. Xometry connects enterprise buyers with suppliers of manufacturing services, enhancing supply chain resilience and supporting industry growth.
Gravity Climate and Xometry have launched a new initiative aimed at helping industrial customers understand and reduce their supply chain's carbon footprint. The integration uses Gravity's API to provide real-time carbon emissions estimates based on product materials, manufacturing processes, mass, and geography. This tool enhances the efficiency of procurement and sustainability teams in measuring Scope 3 emissions and complying with emissions disclosure commitments. The collaboration reflects a growing trend among companies to adopt sustainable practices and promote greener supply chains.
Xometry (NASDAQ: XMTR) has expanded its operations in Europe with the launch of a localized marketplace for UK customers, now available in 9 languages. This initiative allows UK clients to quote and buy parts in Pound Sterling, enhancing efficiencies in supply chains. The Instant Quoting Engine facilitates immediate pricing and feedback for 15 manufacturing technologies. Xometry aims to strengthen connections between businesses and manufacturers, fostering locally resilient supply chains while offering diverse manufacturing capabilities, including CNC machining and 3D printing.
On January 10, 2023, a survey by Xometry and Forbes revealed that 55% of American manufacturing CEOs plan to reshore operations this year. A notable 64% believe America's manufacturing capacity can address global supply chain issues. The survey indicates a rise in investments in automation, digital workflows, and R&D, with 72% of CEOs focusing on automation. Amid persistent inflation, 95% of CEOs express optimism about the economy, with many planning to raise prices by 5%-20%. The results reflect a strong belief in the resilience and modernization of American manufacturing.
Xometry (NASDAQ: XMTR) has partnered with Nexa3D to offer advanced 3D printing services using Nexa3D's ultrafast Lubricant Sublayer Photo-curing® (LSPc®) technology. This service will be available through Xometry's global network of manufacturing suppliers, aiming to meet the growing demand for faster lead times on engineered components. The partnership is expected to enhance productivity by up to 20 times compared to traditional methods, providing economical solutions for low-volume, high-mix production requirements.
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