Xometry, Inc. - XMTR STOCK NEWS

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.

Xometry reported an 83% year-over-year revenue increase for Q3 2022, reaching $103.6 million, driven by nearly 55% marketplace growth and strong supplier services revenue. Gross profit surged 182% year-over-year to $40.9 million. The company expects Q4 revenue to grow 55-58% to $104-$106 million, supported by rising active buyers and suppliers. Despite a Q3 Adjusted EBITDA loss of $6.5 million, improvements signal a potential positive swing by the second half of 2023. However, challenges include suppliers accepting lower prices, potentially dampening near-term revenue growth.

Xometry (NASDAQ:XMTR) announced that CEO Randy Altschuler and CFO Jim Rallo will present at the RBC Capital Markets 2022 Technology, Internet, Media and Telecommunications Conference. This event will showcase Xometry's role as a global online marketplace connecting enterprise buyers with manufacturing service suppliers. Interested parties can access a live webcast of the presentation through the Investor Relations section of Xometry's website, with an archived replay available afterward.

Xometry, Inc. (NASDAQ: XMTR) will report its third quarter 2022 financial results on November 10, 2022, before market opening. A conference call will be held at 8:30 a.m. ET to discuss these results. An earnings presentation will be available on their investor website.

Xometry operates a global online marketplace that connects enterprise buyers with suppliers of manufacturing services, promoting efficient supply chains and global manufacturing capabilities.

Xometry, a technology company (NASDAQ: XMTR), has announced the provision of 19 full-tuition scholarships for manufacturing students at nine Connecticut community colleges. This initiative is part of their pledge to support 250 manufacturing students nationwide.

Connecticut is facing a skills gap in manufacturing, with 88% of executives struggling to find qualified workers. Xometry's scholarships aim to address this issue by training the next generation of machinists, technicians, and engineers.

Xometry has announced important leadership changes, promoting Matt Leibel to Chief Technology Officer and appointing Brendan Sterne as Chief Product Officer. Leibel, a key player in enhancing Xometry’s AI and software capabilities since 2019, brings valuable expertise to the role. Sterne, joining from Indeed, is recognized for his experience in scaling products and revenue. These appointments, announced by CEO Randy Altschuler, aim to bolster Xometry's innovative approach to connecting buyers and suppliers in the marketplace.