Maryland’s Xometry Inc. reported record-breaking revenue in the second quarter — reflecting strong demand for its manufacturing platform in a challenged supply chain landscape — and its stock soared on the news.
The newly public and fast-growing Derwood company, whose two-sided marketplace connects engineers and product designers with manufacturers, said on an earnings call Wednesday that it is also raising its revenue guidance for the full year from $392 million to $400 million to, now, between $395 million and $400 million. The company reported revenue of $218.3 million last year and $141.4 million in 2020.
The momentum is being driven largely by an expanding customer base — which comprises both suppliers of manufacturing services and buyers of manufactured parts. Xometry executives said Wednesday that the company is on track to become profitable before interest, taxes, depreciation and amortization (EBITDA) in 2023.
“We have not seen anything from a macro standpoint that’s…
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