Xometry records +71% annual revenue growth and acquires Turkish services company Tridi

Xometry, the US-based marketplace that connects corporate buyers with manufacturing service providers, has reported financial results for 2022 with a fantastic year-on-year revenue growth of 71%. Total annual revenue was $381.1 million, gross profit was $147.6 million, up 158% year-on-year. On a net basis, Xometry recorded a loss of -$76 million, but this was largely due to a series of acquisitions of other companies that took place in 2022. Now there is another one – Xometry acquired Turkish services company Tridi, marking its presence on the local market market.

Last year was a busy year for the US company, with the launch of Xometry Everywhere software, which extended the reach of its AI-based instant pricing mechanism embedded in partner companies’ websites, and introduced self-service ad subscription options for vendors on the Thomasnet platform. Obtained a certificate in the production of medical devices (ISO 13485). Launched a local manufacturing network in China using Xometry.Asia and started taking orders from Chinese customers.

Xometry has also added expanded CAD integration with the addition of PTC’s Onshape platform, which has over 2 million users – the integration provides seamless instant quotes using our proprietary AI-powered Xometry Instant Quoting Engine. Industrial Buying Engine launched to help customers source and buy from over 500,000 suppliers on Thomasnet.com. Through the Industrial Buying Engine, buyers can ask suppliers to quote products and services.

Now the company has acquired the leading Turkish on-demand production platform Tridi, which is the fourth acquisition in the last several months. Thus, Xometry’s technological capabilities are now available to Tridi customers in Turkey, in particular the brand’s excellent technical infrastructure and smart manufacturing solutions, as well as a global manufacturing network with more than 2,000 manufacturing centers in more than 25 European countries. The purchase price for Tridi was approximately $3.8 million.

Since its inception in 2014, Tridi has amassed a client base that is quite diverse and covers some of the most attractive industries for 3D printing, including aerospace, automotive, consumer electronics and plastics. Its offering includes not only 3D printing, but also CNC machining, sheet metal fabrication, injection molding and urethane casting services across a network of proven regional manufacturing suppliers.

Source: www.xometry.com & www.globenewswire.com