Xometry, Inc. - XMTR STOCK NEWS

Xometry reported a robust Q1 2022 with total revenue reaching $83.7 million, a 90% increase year-over-year, driven by growing marketplace and supplier service revenues. Gross profit surged 235% to $32.9 million. Active buyers rose 44% to 30,683, with a 92% increase in accounts spending over $50,000. Despite these gains, the company faced a net loss of $20 million, attributed in part to stock-based compensation expenses. Xometry anticipates continued strong growth through 2022, projecting revenues of $392-$400 million.

Xometry (NASDAQ:XMTR) has expressed strong support for President Biden's AM Forward initiative aimed at revitalizing American manufacturing. The company emphasizes the importance of manufacturing independence for economic growth and national security. Xometry's CEO, Randy Altschuler, highlighted opportunities in sectors such as autonomous vehicles and clean energy, noting that next-generation manufacturing technologies like 3D Printing are crucial for the industry's future. Xometry connects businesses with manufacturers, offering resources for growth.

Xometry’s Thomasnet.com has reported a significant surge in sourcing for food products, now the most-sourced category. In Q1 2022, food products saw a month-over-month increase of 1,364% for food bags, 663% for foodservice packaging, and 178% for food processing equipment due to supply chain disruptions, inflation, and international conflicts. This development marks food products as a high-demand sector alongside aerospace and automotive.

Shawn Fitzgerald, President of Thomas, notes that the data reflects ongoing challenges in food production amidst historic inflation and geopolitical tensions.

Xometry has launched the Xometry Instant Pricing app for PTC’s Onshape, enhancing the CAD platform with AI-driven instant quoting capabilities. This innovation allows engineers to access real-time design-for-manufacturing feedback and customize part orders efficiently, streamlining the production process. The app reflects Xometry's 'Xometry Everywhere' strategy, expanding its quoting engine's reach across various platforms. The collaboration aims to simplify manufacturing for users, offering access to over 5,000 industrial manufacturers.

Xometry, Inc. (NASDAQ: XMTR) will report its first quarter 2022 financial results on May 11, 2022, before market opening. The earnings presentation will also be available on the investor website. A conference call will take place at 8:30 a.m. ET to discuss the results. Investors can participate by dialing (877) 313-2061 (U.S./Canada) or (470) 495-9537 (International), using conference ID 1993784. Xometry connects companies with manufacturers via its digital marketplace.

Xometry has obtained ISO 13485 certification, enhancing its capabilities in medical device manufacturing. This certification enables Xometry to expand its footprint in the medical sector, where it already collaborates with 86 percent of Fortune 500 medical product and equipment companies, providing essential prototyping and manufacturing support. The Xometry marketplace facilitates the development of innovative products across various industries, contributing significantly to the economy.

On March 23, 2022, Xometry launched its 'Xometry Everywhere' software, integrating its AI-driven quoting technology across third-party sites. This innovation aims to enhance the accessibility of Xometry's quoting engine, particularly targeting Thomasnet.com with its 1.4 million users, generating over 20 million sourcing sessions annually. CEO Randy Altschuler emphasized that this move fosters resilience in supply chains and supports domestic and international manufacturers. The new software provides features like instant quoting and lead-time estimates to optimize the procurement process.

Xometry, a leading AI-enabled digital manufacturing marketplace, reported a strong finish to 2021 with a 77% year-over-year revenue growth, reaching $67.1 million in Q4. The strategic acquisition of Thomas added 1.4 million registered buyers and approximately 500,000 sellers. Gross profit surged by 121% to $20.9 million. Xometry anticipates a revenue growth of 79-83% for 2022, projecting between $390 million and $400 million. However, a net loss of $23.9 million was reported in Q4, increasing year-over-year. The company raised $278.9 million from a recent Convertible Senior Note offering for working capital and growth investments.

Xometry, a global digital manufacturing marketplace, announced two upcoming 'Xometry Live' virtual events focused on inclusive leadership in manufacturing. The first event, on March 8, features independent journalist Miles O'Brien discussing accessible design with 3D printing for people with disabilities. Xometry also partners with Blue Heart Hero for a contest on designing assistive kitchen devices. The second event, on March 10, will address advancing women in manufacturing, led by prominent industry figures. Both events emphasize diversity and innovation in manufacturing.