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, the online manufacturing marketplace, announced its participation in upcoming investor events. Management will attend CL King's 20th Annual Best Ideas Conference on Sept. 12, 2022 (virtual, no webcast) and the Goldman Sachs Communacopia + Technology Conference on Sept. 14, 2022, at 3 p.m. PT in San Francisco. A live webcast of the Goldman Sachs event will be available on Xometry’s Investor Relations page, with an archived replay accessible post-event. Xometry connects enterprise buyers to manufacturers, enhancing supply chains for Fortune 1000 companies.
Xometry (NASDAQ: XMTR) has announced a partnership with the Community College of Baltimore County (CCBC) to provide 57 scholarships for students in manufacturing programs. This initiative aligns with U.S. Representative Steny H. Hoyer's Make It In America agenda, aimed at enhancing the U.S. workforce in advanced technology sectors. Xometry is committed to funding scholarships for nearly 250 students across six states to develop skilled mechanical engineers, technicians, and machinists, supporting crucial industries like aerospace and clean energy.
Xometry, a technology company listed on NASDAQ as XMTR, is funding two-year scholarships for nearly 60 students at the Community College of Baltimore County (CCBC) to support the next generation of skilled mechanical engineers and technicians. This initiative aligns with Rep. Hoyer’s Make It In America plan to bolster U.S. manufacturing. Xometry is also providing scholarships to over 240 students in key manufacturing states including Kentucky and Wisconsin, emphasizing its commitment to investing in small- and medium-sized manufacturers and addressing supply chain challenges.
Xometry reported a strong Q2 2022, with total revenue reaching $95.6 million, an 89% increase year-over-year. Marketplace revenue was $75.6 million, while supplier services revenue hit $20.0 million. Gross profit soared 217% to $37.7 million. Active buyers surged 40% to 33,491, and accounts with over $50,000 in spend rose 76%. Despite a net loss of $16.6 million, the company expects adjusted EBITDA positivity in 2023, driven by growth initiatives and a new cloud-based platform.
Randy Altschuler, CEO of Xometry, praised the U.S. Senate for passing the CHIPS and Science Act, emphasizing its importance for American manufacturing and national security. The bill focuses on investments in robotics, AI, and skills training for workers. He expressed commitment to supporting over 500,000 American manufacturers through partnerships aimed at developing a skilled workforce. Xometry plans to cover tuition for dozens of employees in various states, with more announcements expected this summer.
CoLab is collaborating with Xometry (NASDAQ: XMTR) to integrate its innovation into the Workcenter platform, designed for mechanical engineering teams. This partnership will enhance supplier collaboration, enabling quicker feedback loops and reducing design communication errors. CoLab aims to create a seamless design engagement system, improving efficiency for engineering teams and their suppliers. Xometry's announcement during the Xometry Marketplace Summit emphasizes its commitment to building an interconnected ecosystem for suppliers.
Xometry, Inc. (NASDAQ: XMTR) will announce its Q2 2022 financial results before market opening on August 10, 2022. A conference call is scheduled for 8:30 a.m. ET (5:30 a.m. PT) on the same day to discuss the results. Xometry will also release an earnings presentation available on their investor website. The company connects enterprise buyers with manufacturing service suppliers, enhancing supply chain resilience for Fortune 1000 companies.
Xometry (NASDAQ: XMTR) has unveiled new digital sourcing tools on Thomasnet.com designed to streamline the procurement process for enterprise buyers. This includes the Industrial Buying Engine, which connects buyers to over 500,000 suppliers, and a cloud-based Workcenter for suppliers to manage workflows and payments. These innovations aim to enhance local supply chains and offer a seamless quoting experience, allowing for quicker transactions. The tools are set to be operational on June 30, 2022, and support Xometry's commitment to digital transformation in manufacturing.
Xometry, Inc. (NASDAQ:XMTR) will host a virtual event titled “The Xometry Marketplace: Powering Tomorrow’s Supply Chain” on June 29, 2022.
CEO Randy Altschuler will unveil new technologies enhancing the digitization of manufacturing, aiming to improve supply chain efficiency and procurement processes.
Xometry, Inc. (NASDAQ:XMTR) announced its participation in several upcoming investor events. Key dates include the Loop Capital Markets’ 2022 Investor Conference on June 2 in New York City (no presentation), the William Blair 42nd Annual Growth Stock Conference on June 7 at 5:40 p.m. ET in Chicago, and the BofA Securities 2022 Global Technology Conference on June 9 at 3:30 p.m. ET in San Francisco. Webcasts and replays of the presentations will be available in the Investor Relations section of Xometry's website post-session.
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