Xometry, Inc. (XMTR), a leading on-demand manufacturing marketplace, witnessed a remarkable pre-market surge of 6.39% on November 6, 2024, driven by its stellar third-quarter financial performance and upbeat guidance for the upcoming quarter.
The company reported Q3 2024 revenue of $141.7 million, representing a robust 19.1% year-over-year growth and surpassing analysts' expectations of $137.7 million. This strong top-line growth was fueled by robust demand for Xometry's agile and flexible supply chain solutions as manufacturers navigate ongoing economic uncertainties.
Notably, Xometry swung to a non-GAAP profit of $0.02 per diluted share in Q3 2024, defying analysts' forecasts of a $0.05 loss per share. The company's ability to deliver profitability on an adjusted basis, coupled with its impressive top-line growth, significantly boosted investor sentiment and drove the stock's rally.
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