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 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.
Xometry, Inc. (NASDAQ:XMTR) will celebrate Manufacturing Day by hosting a webcast titled 'Building American Manufacturing Resilience' on Oct. 7, featuring executives from Forbes, Women in Manufacturing Association, and Zogby Strategies. The event will discuss a recent survey conducted by Xometry, revealing that 90% of CEOs anticipate ongoing supply chain issues into 2023. However, the survey indicates that 80% are planning significant capital investments to adapt and thrive amid challenges. Registration for the live event is available online.
Xometry released a survey in partnership with Forbes, revealing that 90% of CEOs anticipate ongoing supply chain challenges into 2023. Despite these concerns, 80% plan to invest in capital improvements, talent, and technology. The survey indicates that 70% are focusing on employee investments, and 64% are reshoring or nearshoring operations. Notably, 55% of CEOs have absorbed cost increases rather than passing them on. The survey highlights the resilience and innovative strategies among manufacturing leaders as they adapt to disruptions.
Xometry, a technology company listed on NASDAQ under the symbol XMTR, has announced a donation of full-tuition scholarships for community college students in Connecticut. This initiative aims to nurture the next generation of machinists, technicians, and engineers across nine colleges. By investing in education, Xometry seeks to address supply chain and inflation challenges while enhancing the workforce in domestic manufacturing. This scholarship program also extends to nearly 250 students in other manufacturing states, reinforcing Xometry's commitment to supporting skilled workers.
Xometry (NASDAQ: XMTR) has announced a public-private partnership to fund 50 scholarships for Kentucky Community and Technical College System students, highlighting its commitment to supporting manufacturing education. This initiative is part of Xometry's broader pledge to provide nearly 250 scholarships across various states. The program aims to enhance the skilled workforce in crucial industries such as aerospace and clean energy, addressing the growing demand for skilled professionals. Xometry's ongoing investment in Kentucky reflects its dedication to the local community and workforce development.
Xometry, a tech company listed on NASDAQ under the ticker XMTR, announced a donation of 50 full-tuition scholarships to students at the Kentucky Community and Technical College System (KCTCS) focused on machining and engineering. This initiative underscores Xometry’s commitment to strengthening local manufacturing capabilities and addresses the workforce shortage in this sector. The announcement was made by key figures including Lt. Governor Jacqueline Coleman and Xometry's CEO Randy Altschuler, with the scholarships also benefiting students in five other states.
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