Xometry, Inc. Provides Earnings Guidance for the First Quarter and Full Year of 2024
February 29, 2024 at 07:15 am EST
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Xometry, Inc. provided earnings guidance for the first quarter and full year of 2024. For the quarter, the company expects revenue to be in the range of $118 million to $120 million.
For the full year, the company expects marketplace revenue growth of at least 20% year-over-year and expect supplier services revenue to be down approximately 10% year-over-year driven by the discontinuation of the sale of tools and materials and the wind down of non-core services.
Xometry, Inc. provides artificial intelligence (AI)-powered marketplace, Thomasnet.com industrial sourcing platform and suite of cloud-based services. The Company provides manufacturers the critical resources they need to grow their business and makes it easy for buyers to create locally resilient supply chains. It connects buyers with suppliers of manufacturing services. Xometry Instant Quoting Engine leverages millions of pieces of data to analyze complex parts in real-time, matches buyers with the right suppliers globally, and provides pricing and lead times. Its AI-enabled technology platform is powered by machine learning algorithms and dataset, resulting in a two-sided marketplace. It uses technology to enable product designers, engineers, buyers, and supply chain professionals to access the capacity of a global network of manufacturing facilities. Its suppliersâ capabilities include computer numerical control manufacturing, sheet metal forming, and sheet cutting, among others.
XOMETRY, INC. 
