Latest news with #XometryMarketplace
Associated Press
17-04-2025
- Business
- Associated Press
Xometry's Marketplace Has Generated Nearly $1 Billion In Revenue For America's Small- And Medium Manufacturers
NORTH BETHESDA, Md., April 17, 2025 (GLOBE NEWSWIRE) -- Xometry (NASDAQ: XMTR), the global marketplace digitizing manufacturing and driving greater supply chain resiliency, today announced that its AI-powered, on-demand custom manufacturing marketplace has generated nearly $1 billion in revenue for America's small- and medium manufacturers from Jan. 1, 2020 - March 31, 2025. 'America's manufacturers are deeply rooted in their local communities and play a critical role in our national and global economies,' said Randy Altschuler, CEO of Xometry. 'The Xometry Marketplace helps them reach new customers, re-invest in growth, and hire and train skilled talent. We see the impact every day through our partnerships across the country.' In addition to creating nearly $1 billion in revenue for U.S. manufacturers on its platform, Xometry through its annual ' Excellence in Manufacturing ' awards program recognizes exceptional suppliers who deliver quality products. This year's honorees represent all 48 contiguous states and encompass nearly every type of manufacturing technology – from CNC machining and injection molding to sheet metal fabrication and metal- and plastic 3D printing. One standout honoree is JR Metal Works, a Green Bay, Wisc.-based custom fabricator of sheet metal, pipe and plate products. A five-time award recipient, JR Metal Works continues to raise the bar for quality and service. 'Since high school, I dreamed of having my own metal fabrication shop. In 2016, I opened JR Metal Works with a mission of providing customers excellent customer service, quality and a premium experience,' Jesse Kleiman, owner of JR Metal Works, said. 'Since we began working with Xometry in 2019, we've been able to purchase additional equipment, grow our team and reach new customers around the world. Xometry is a horsepower multiplier for our business.' Today, more than 4,375 global suppliers are active on the Xometry Marketplace. A significant majority of marketplace revenue flows to the company's growing U.S. supplier network. In a rapidly changing environment, agility is everything. As more manufacturers reshore operations and seek domestic partners, they're also turning to Xometry to digitize and future-proof their businesses. Xometry's robust suite of digital tools benefits both buyers and suppliers: According to Xometry's recent ' American Manufacturing Resurgence ' poll, conducted with John Zogby Strategies, 70% of manufacturing CEOs (at companies with revenue from $5 million to $500 million) are embracing AI to boost operational efficiencies. Nearly half have reshored some or all of their operations. 'America's manufacturers are resilient and can meet any moment,' Altschuler said. 'Xometry was purpose-built to help them move faster, adapt to change and drive innovation.' About Xometry Xometry's (NASDAQ: XMTR) AI-powered marketplace, popular Thomasnet ® industrial sourcing platform and suite of cloud-based services are rapidly digitizing the manufacturing industry. Xometry provides manufacturers the critical resources they need to grow their business and makes it easy for buyers to get the instant pricing and lead times to create locally resilient supply chains. The Xometry Instant Quoting Engine® leverages millions of data to analyze complex parts in real time, matches buyers with the right suppliers globally, and provides accurate pricing and lead times. Learn more at or follow @xometry. Media Contacts: Matthew Hutchison Chief Communications Officer [email protected] Investor Contact: Shawn Milne VP, Investor Relations 240-335-8132 [email protected]
Axios
17-04-2025
- Business
- Axios
A path forward for reigniting American manufacturing
Tariffs are driving buyers of custom manufacturing services to quickly rewire their supply chains, including looking toward American suppliers to create their products. Okay, but: At the same time, the country's small- and mid-size manufacturers are looking to capitalize on this moment and grow their customer base here and abroad. Why it's important: As a result, the U.S. may well be on the verge of a manufacturing renaissance — but it will take time, and technology will play a crucial part for buyers and suppliers alike. First things first: America is home to more than 500,000 small- and mid-size manufacturers — who specialize in everything from CNC machining and injection molding to sheet-metal fabrication, 3D printing and more. They are deeply ingrained in the fabric of their communities and their work is a significant driver of the country's GDP. Buyers over the last few years have accelerated their reshoring efforts, moves that were sparked by COVID, buoyed by federal legislation such as the Infrastructure Investment and Jobs Act, the CHIPS and Science Act and now the global trade environment. How it's done: Xometry, the digital marketplace for custom manufacturing, has tracked the reshoring trend for more than two years through its quarterly "American Manufacturing Resurgence" polls with Zogby Strategies. In Q1, nearly half (42%) of manufacturing CEOs say they have already successfully reshored facilities, while another 19% say they are planning to do so as a result of the tariffs. What's next: America's manufacturers can meet this moment, says Randy Altschuler, Xometry's CEO. "We help more than 68,000 buyers of custom-manufacturing services navigate the complex and rapidly changing terrain of tariffs by matching them with the more than 4,375 suppliers on our AI-driven marketplace," Altschuler said. "Our platform gives buyers of custom manufacturing the ability to grow their production needs with us and strengthen their supply chains at times like this when it matters most." "Through our marketplace, buyers get instant pricing and lead time information as well as critical access to America's extensive manufacturing capacity, enabling them to remain agile, flexible and resilient in a rapidly changing world," explains Altschuler. It's a model that also benefits manufacturers. The impact: In the last 5 years (Jan. 1, 2020 - March 31, 2025), the Xometry Marketplace has generated $1 billion in revenue for America's manufacturers, a point of pride for Altschuler and everyone at the publicly traded company (NASDAQ: XMTR). As reshoring accelerates, buyers and suppliers of manufacturing are rapidly investing in new technologies and talent to meet this moment. Xometry's recent poll found that: 70% of manufacturing CEOs are embracing emerging technologies like AI to achieve efficiencies in planning and in operations, followed closely by automation. Of those companies that have invested in AI, most have seen a significant ROI, and nearly two-third (63%) believe AI and other technologies will be "transformational" for their operations. In addition to technology, manufacturing CEOs are investing in talent as America's industrial core becomes more high-tech. The bottom line: "One of the reasons I co-founded Xometry was to champion America manufacturing — the backbone of our global economy. Today, manufacturing is increasingly synonymous with high-tech innovation, and Xometry is playing a pivotal role in re-engineering supply chain ecosystems everywhere."
