Xometry, Inc. - XMTR STOCK NEWS

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.

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.