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.
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.
Xometry (NASDAQ: XMTR), a leading online marketplace for manufacturing services, announced that CEO Randy Altschuler will present at the 50th Annual J.P. Morgan Global Technology, Media and Communications Conference on May 23, 2022. This event highlights Xometry's commitment to connecting enterprise buyers with manufacturers. Investors can access a live webcast of the presentation on Xometry's Investor Relations section. An archived replay will be available post-event.
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.
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