Stock Track | Xometry Stock Soars on Stellar Q3 Results, Upbeat Outlook

Stock Track11-05

Shares of Xometry, Inc. (XMTR) surged 5.35% on Monday, November 5th, 2024, as the on-demand manufacturing marketplace reported better-than-expected third-quarter results and provided an optimistic outlook for the fourth quarter.

For the third quarter, Xometry posted revenue of $141.7 million, representing a 19.1% year-over-year increase and surpassing analysts' expectations of $137.7 million. The company swung to a non-GAAP profit of $0.02 per diluted share, defying analysts' forecasts of a $0.05 loss per share.

Xometry's strong performance was driven by robust demand for its services as manufacturers seek agile and flexible supply chain solutions amidst ongoing economic uncertainties. The company's ability to deliver top-line growth while managing costs and achieving profitability on an adjusted basis buoyed investor sentiment.

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