Xometry(XMTR)

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Xometry Announces Convertible Debt Refinancing and Closing of $250 Million of 0.75% Convertible Senior Notes Offering
Globenewswire· 2025-06-12 20:41
Issued $250 million principal amount of convertible notes due in 2030, with the proceeds used in part to retire approximately $202 million principal amount of existing convertible notes due in 2027Opportunistic refinancing extends the maturity of most of Xometry’s existing debt with improved terms, a lower coupon and reduced potential dilution to the existing capital structureXometry purchased a capped call hedge with a cap price initially at $63.35, which represents a 75% premium over the market price on t ...
Xometry Announces Pricing of $225 Million Offering of Convertible Senior Notes
Globenewswire· 2025-06-10 06:00
Core Viewpoint - Xometry, Inc. has announced the pricing of $225 million in 0.75% Convertible Senior Notes due 2030, aimed at qualified institutional buyers, with expected net proceeds of approximately $217 million for various corporate purposes [1][4]. Group 1: Offering Details - The offering includes an option for initial purchasers to buy an additional $25 million in Notes within 13 days of issuance [2] - The Notes will accrue interest at a rate of 0.75% per year, payable semiannually, and will mature on June 15, 2030 [3] - The initial conversion rate is set at 21.2495 shares of Class A common stock per $1,000 principal amount of Notes, equating to a conversion price of approximately $47.06 per share, representing a 30% premium over the last reported sale price [5] Group 2: Use of Proceeds - Xometry plans to use the net proceeds to cover the cost of capped call transactions ($15.7 million), repurchase approximately $8 million of its Class A common stock, and repurchase about $201.7 million of its outstanding 1.00% Convertible Senior Notes due 2027 [4] - Additional proceeds, if the option is exercised, may be used for further capped call transactions, working capital, and potential acquisitions or strategic investments [4] Group 3: Redemption and Conversion Terms - The Notes cannot be redeemed before June 20, 2028, and can be redeemed under specific conditions related to the stock price [6] - In the event of a "fundamental change," noteholders may require Xometry to repurchase their Notes at 100% of the principal amount plus accrued interest [7] - The conversion rate may be adjusted in certain corporate events or upon redemption [8] Group 4: Capped Call Transactions - Xometry has entered into capped call transactions to mitigate potential dilution from the conversion of the Notes, with an initial cap price of $63.35, a 75% premium over the last reported sale price [9][10] - The capped call transactions are expected to reduce cash payments required upon conversion and are subject to customary adjustments [9] Group 5: Market Impact - The initial purchasers may engage in derivative transactions and stock purchases that could influence the market price of Xometry's Class A common stock and the Notes [11][12] - Concurrently with the offering, Xometry repurchased approximately $8 million of its Class A common stock, which may affect the market price [13] - Xometry also repurchased approximately $216.7 million of its 2027 notes, which could lead to further market activity affecting stock prices [14][15] Group 6: Regulatory Information - The Notes are offered only to qualified institutional buyers under Rule 144A and are not registered under the Securities Act [16] - This offering does not constitute an offer to sell or a solicitation of an offer to buy any securities [17] Group 7: Company Overview - Xometry operates an AI-powered marketplace that connects buyers with suppliers of manufacturing services, aiming to digitize the manufacturing industry [19]
Xometry Announces Proposed $225 Million Offering of Convertible Senior Notes
Globenewswire· 2025-06-09 20:05
NORTH BETHESDA, Md., June 09, 2025 (GLOBE NEWSWIRE) -- Xometry, Inc. (“Xometry”) (XMTR), the global AI-powered marketplace connecting buyers with suppliers of manufacturing services, today announced its intent to offer, subject to market conditions and other factors, $225 million aggregate principal amount of Convertible Senior Notes due 2030 (the “Notes”) in a private placement (the “Offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Ac ...
Xometry (XMTR) FY Conference Transcript
2025-06-03 15:02
Xometry (XMTR) FY Conference Summary Company Overview - **Company**: Xometry - **Industry**: Custom Manufacturing Marketplace - **Founded**: 2013 - **IPO**: 2021 - **CEO**: Randy Altshuler - **CFO**: James Milne Key Points Industry Dynamics - Custom manufacturing is a significant subsegment of the overall manufacturing market, estimated to exceed $2 trillion [9][10] - The market is highly fragmented, consisting of millions of small and medium-sized manufacturers globally [6][10] Company Growth and Performance - Xometry has tripled its customer base and doubled its manufacturing partner base since its IPO [3][14] - The marketplace revenue has tripled, with gross margins increasing from the mid-twenties to the mid-thirties percentage range [3][14] - In Q1, Xometry reported a 23% year-over-year revenue growth, with marketplace revenue growing 27% year-over-year [14][37] - Active buyers reached over 71,000, marking a 22% year-over-year increase [30][14] - Active suppliers numbered approximately 4,375, with a significant focus on enterprise accounts [30][31] Technology and Innovation - Xometry utilizes machine learning and AI to optimize the manufacturing process, providing instant pricing and lead time options [6][7][15] - The AI analyzes CAD models and matches them with suitable suppliers, enhancing efficiency and profitability for both buyers and suppliers [7][8][15] - The company has integrated with major ERP systems to streamline purchasing processes for large enterprises [53] Market Opportunity and Strategy - Xometry's market penetration is currently less than 1%, indicating substantial growth potential [18] - The company aims to deepen relationships with enterprise customers, with over 100 accounts generating more than $500,000 in revenue [24][31] - International revenue has grown from 2% to 18% of total marketplace revenue from 2020 to 2024, with expansion efforts in Europe and Asia [34] Financial Metrics - Total revenue for the last twelve months (LTM) reached $600 million, with a gross profit of $224 million [14][37] - Gross margins improved from 23.5% in 2020 to 33.5% in 2024, with a long-term target of 35% to 40% [41][42] - The company maintains a strong balance sheet with $231 million in cash and cash equivalents [46] Challenges and Resilience - Xometry has demonstrated durable growth across various economic conditions, including during COVID-19 and periods of supply chain disruptions [57] - The company is positioned to benefit from market uncertainties, as customers seek reliable manufacturing solutions [58] Future Outlook - Xometry plans to continue expanding its technology offerings and marketplace capabilities, aiming for sustained growth and profitability [45][48] - The focus will remain on organic growth, enhancing buyer and supplier networks, and exploring potential acquisitions to accelerate growth [48] Additional Insights - The company has a clear strategy for growth, emphasizing the importance of technology and customer engagement [22][24] - Xometry's approach to supplier engagement and customer satisfaction is designed to optimize profitability and operational efficiency [8][15][40]
NSF Becomes Preferred Certification Body For Xometry’s Thomasnet® Industrial Sourcing Platform
Globenewswire· 2025-05-29 12:03
This agreement gives suppliers on Thomasnet the ability to earn certifications from NSF’s wide-ranging portfolio of services NSF Becomes Preferred Certification Body For Xometry’s Thomasnet® Industrial Sourcing Platform This agreement gives suppliers on Thomasnet the ability to earn certificationsFrom NSF’s wide-ranging portfolio of services ANN ARBOR, Mich. and NORTH BETHESDA, Md., May 29, 2025 (GLOBE NEWSWIRE) -- NSF, a recognized global leader in public health and safety certification, today announced ...
A Strong Quarter In A Difficult Environment Highlights The Merits Of Xometry
Seeking Alpha· 2025-05-21 08:39
Almost every day seems to bring a new twist to the macro story. Monday, May 12th, brought the news about the temporary agreement between the USBert Hochfeld graduated with a degree in economics from the University of Pennsylvania and received an MBA from Harvard. Mr. Hochfeld has enjoyed a long career in the tech world, working for IBM, Memorex/Telex, Raytheon Data Systems, and BMC Software. Starting in the 1990s, Mr. Hochfeld worked as a sell-side analyst and won awards from the Wall Street Journal for his ...
Xometry (XMTR) FY Conference Transcript
2025-05-14 20:00
Summary of Xometry Conference Call Company Overview - **Company**: Xometry - **Industry**: Custom Manufacturing - **Market Size**: Estimated at over $2 trillion, heavily fragmented with hundreds of thousands of small to medium-sized manufacturers [5][6] Core Business Model - **Marketplace**: AI-powered platform for custom manufacturing, providing instant pricing and optimal manufacturer matching [6][9] - **Global Presence**: Operates 18 localized marketplaces across the U.S., Europe, and Asia [6][12] Key Market Insights - **Addressable Market**: Custom manufacturing is complex, making it difficult for customers to find suitable manufacturers [8][9] - **Buyer Profiles**: Includes engineers and procurement professionals, with a shift towards larger projects and assemblies [13][14] - **Supplier Profiles**: Suppliers are attracted to Xometry due to its ability to fill capacity with high-value jobs [15][17] Growth Metrics - **Buyer and Supplier Base**: Over 71,000 buyers and nearly 4,500 suppliers [13] - **Cohort Growth**: Over 1,500 accounts spending more than $50,000 annually, with 100 accounts exceeding $500,000 [20][21] - **Marketplace Growth**: 27% year-over-year growth in Q1, with a focus on increasing production work [22][24] Strategic Initiatives - **TeamSpace**: Software for organizing and buying entire products or assemblies, gaining traction with over 7,000 teams created [21][35] - **WorkCenter**: A manufacturing execution system for suppliers, enhancing visibility and operational efficiency [36][39] - **Instant Quoting**: Expansion of instant quoting capabilities expected to drive order volume and margin growth [40][42] Market Dynamics - **Tariffs and Supply Chain**: Increased awareness of supply chain resilience due to tariffs, with Xometry positioned to help companies diversify sourcing [24][27] - **Macro Environment**: Despite macroeconomic challenges, Xometry has maintained positive momentum and market share growth [31][32] International Expansion - **Current Footprint**: International business accounts for about 15% of revenue, with plans to grow this to over 30% [50] - **Geographic Focus**: Strong presence in Europe and expanding into Asia, particularly China [52][53] Financial Performance - **Revenue Outlook**: Raised revenue outlook based on consistent growth and strong execution [56][58] - **Marketplace Gross Margin**: Aiming for 35-40% long-term gross margin, with recent investments temporarily impacting margins [63][64] - **EBITDA**: Positive adjusted EBITDA achieved, with a target of 20-30% long-term margins [66][67] Competitive Landscape - **Main Competitor**: Traditional manufacturing methods and local suppliers [48][49] - **Differentiation**: Xometry's digital platform offers a more efficient and reliable solution for custom manufacturing [49][75] Future Outlook - **Transformative Initiatives**: Continued execution on AI-driven quoting, global marketplace expansion, and enhanced tools for buyers and suppliers [76][77]
Xometry: Tariffs May Not Be As Bad As Initially Feared (Rating Upgrade)
Seeking Alpha· 2025-05-08 05:55
Xometry's (NASDAQ: XMTR ) Q1 results were strong, and the company gave solid forward guidance, particularly given the uncertain macro environment. The full impact of tariffs likely won't be known for some time, though, and the fact that Xometry recently conducted Richard Durant is the leader of Narweena, an asset manager focused on finding market dislocations that are the result of a poor understanding of a businesses long-term prospects. Narweena believes that excess risk adjusted returns can be achieved b ...
Xometry(XMTR) - 2025 Q1 - Quarterly Report
2025-05-06 20:10
Table of Contents 32-0415449 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-40546 XOMETRY, INC. (Exact Name of Registrant as Specified in its Charter) Del ...
Xometry(XMTR) - 2025 Q1 - Earnings Call Transcript
2025-05-06 13:32
Xometry (XMTR) Q1 2025 Earnings Call May 06, 2025 08:30 AM ET Company Participants Shawn Milne - VP of IRRandy Altschuler - Chief Executive OfficerJames Miln - CFO & Principal Accounting OfficerBrian Drab - Co-Group Head–IndustrialsRon Josey - Managing DirectorSanjeev Sahni - PresidentSimran B - Equity Research Senior AssociateTroy Jensen - Managing Director Conference Call Participants None - AnalystGreg Palm - Senior Research Analyst Operator Good day, and thank you for standing by. Welcome to the Xometry ...