Xometry Reports Q3 2022 Revenue Growth +83%

Recently, we have written a lot about the problems of selected companies in the 3D printing industry in the face of macroeconomic and economic turmoil in the world, but this does not mean that this situation applies to everyone. American Xometry – a service platform that is a global manufacturing market, generated record revenues in the last, third quarter of this year, reaching USD 103.6 million in revenue, i.e. +82.7% more in the same period last year.

Xometry marketplace revenue grew +55% vs Q3 2021 and +11% vs Q2 2022. This was driven by an increase in active buyers and rapid adoption of the platform in the US and Europe. In its financial data, Xometry also did not provide a breakdown of revenue by manufacturing process, although it said it measured it, with many methods reporting “strong year-on-year growth.” Overall, the company’s active buyers also increased to 36,789, an increase of +40% from the third quarter of 2021. Key users of the Xometry platform are customers in the automotive, robotics, automation, education, food and manufacturing industries.

As for the shopping cart, Xometry says the number of customers spending $50,000 or more per year has increased by +62% year-over-year. At the same time, towards the end of the third quarter, the company noticed that the value of shopping carts was decreasing and Xometry “started working on optimizing prices”, but at the same time it is confident of further development due to the increasing frequency of orders.

While the company has seen labor costs drop in recent weeks, it believes it can optimize pricing while maintaining strong order and conversion growth through changes to its algorithms.

Source: www.xometry.com