Xometry, Inc. (XMTR): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how companies are leveraging AI to revolutionize manufacturing? Xometry, Inc. (XMTR), with a market cap of $1.08 Billion USD as of April 2025, stands out as a leading AI-powered marketplace connecting businesses with manufacturing service suppliers. But how exactly did Xometry rise to prominence, who owns this innovative company, what's their mission, and, most importantly, how does it all translate into revenue? Keep reading to discover the ins and outs of Xometry's unique business model and its impact on the on-demand manufacturing market.

Xometry, Inc. (XMTR) History

Founding Timeline

Year established

The company was established in 2013.

Original location

The company was originally located in Maryland.

Founding team members

The founding team members included:

• Randy Altschuler (Co-founder and CEO)
• Laurence Zuriff (Co-founder)

Initial capital/funding

In 2013, the company secured $6 million in Series A funding led by Foundry Group.

Evolution Milestones

Transformative Moments

• Strategic Acquisitions: The acquisition of MakeTime in 2018 significantly broadened the company's manufacturing capabilities and expanded its network of manufacturers.
• Expansion into Europe: The company's expansion into Europe marked a pivotal moment, extending its reach into new markets and diversifying its customer base.
• Going Public: In 2021, the company went public on the Nasdaq, trading under the ticker symbol XMTR. This event provided a substantial influx of capital, enabling further investments in technology, infrastructure, and market expansion.
• AI Integration: The introduction of AI-driven features in 2023 enhanced the efficiency and automation of manufacturing processes, underscoring the company's commitment to innovation.

Read also this insightful article: Exploring Xometry, Inc. (XMTR) Investor Profile: Who’s Buying and Why?

Xometry, Inc. (XMTR) Ownership Structure

Understanding the ownership structure of a company like Xometry, Inc. (XMTR) provides valuable insights into its control, governance, and strategic direction. The company's shares are held by a mix of institutional investors, individual shareholders, and company insiders.

Xometry, Inc.'s Current Status

Xometry, Inc. is a public company, trading on the Nasdaq Global Select Market under the ticker symbol XMTR. This means that a portion of the company is owned by public investors who can buy and sell shares on the open market.

Xometry, Inc.'s Ownership Breakdown

As a publicly traded company, Xometry's ownership is distributed among various shareholders. Here's an overview of the ownership breakdown:

Xometry, Inc.'s Leadership

The leadership team is crucial for guiding the company's vision and strategy. Here are some of the key leaders at Xometry:

• Dr. Pendergast (Randy) Altschuler serves as Chief Executive Officer & Director.
• James Riter holds the position of Chief Financial Officer.
• Brendan Sterne is the Chief Marketing Officer.
• Katherine Bernhard serves as the company’s Chief People Officer.

For more insights into the company's goals, see : Mission Statement, Vision, & Core Values of Xometry, Inc. (XMTR).

Xometry, Inc. (XMTR) Mission and Values

Xometry's mission is to revolutionize manufacturing through its AI-driven marketplace, connecting businesses with optimal manufacturing solutions. The company values innovation, customer satisfaction, and a commitment to empowering the manufacturing industry.

Xometry's Core Purpose

Official mission statement

Xometry's official mission statement is: To champion the world’s creators through efficiency, transparency, and reliability.

• Efficiency: Streamlining the manufacturing process to save time and resources.
• Transparency: Providing clear and accessible information to all stakeholders.
• Reliability: Ensuring consistent and high-quality results for every project.

This mission reflects Xometry's dedication to transforming the manufacturing landscape by making it easier, more efficient, and more reliable for businesses of all sizes.

Vision statement

While a specific, formally declared vision statement is not explicitly available, Xometry's actions and strategic goals suggest a vision to be the leading global marketplace for manufacturing services, empowering a future where product creation is seamless and accessible to all. This involves:

• Expanding its global network of manufacturers.
• Continuously innovating its AI-driven platform.
• Providing comprehensive solutions that cover the entire product lifecycle, from prototype to production.

Xometry aims to create an ecosystem where innovation thrives and manufacturing capabilities are readily available to anyone with a great idea.

Company slogan/tagline

Xometry uses the tagline 'Where Innovation Meets Manufacturing.' This slogan encapsulates the company's core value proposition:

• Highlighting the intersection of cutting-edge technology and traditional manufacturing processes.
• Emphasizing the company's role in bringing innovative ideas to life through its manufacturing capabilities.
• Positioning Xometry as a key enabler for creators and businesses looking to push the boundaries of what's possible.

For more insights into Xometry's financial performance, explore: Breaking Down Xometry, Inc. (XMTR) Financial Health: Key Insights for Investors

Xometry, Inc. (XMTR) How It Works

Xometry operates as an AI-driven marketplace for on-demand manufacturing, connecting customers with manufacturing service providers.

Xometry's Product/Service Portfolio

Xometry's Operational Framework

Xometry's operational framework is built upon a technology-driven platform that streamlines the manufacturing process from quote to fulfillment:

• Instant Quoting: Customers upload their designs to the Xometry platform, and the AI-powered engine analyzes the geometry, material, and manufacturing process to provide instant price quotes and lead times.
• Manufacturing Partner Network: Xometry has a vast network of manufacturing partners with diverse capabilities. The platform matches customer orders with the most suitable manufacturers based on factors like capacity, expertise, and location.
• Order Management: Xometry manages the entire order process, from procurement to quality control and shipping, providing customers with a single point of contact and ensuring consistent quality.
• Quality Assurance: Xometry implements quality control measures to ensure that parts meet customer specifications. This includes material certifications, dimensional inspections, and process monitoring.

Xometry's Strategic Advantages

Xometry's strategic advantages stem from its technology-driven approach and extensive network:

• Scalability: The platform can handle a wide range of order volumes and complexities, making it suitable for both small businesses and large enterprises.
• Efficiency: The automated quoting and order management processes reduce lead times and costs compared to traditional manufacturing methods.
• Network Effects: As more customers and manufacturers join the Xometry platform, the value of the network increases for all participants.
• Data-Driven Insights: Xometry collects data on manufacturing processes, pricing, and lead times, which it uses to optimize its platform and provide valuable insights to customers and manufacturers.

For detailed insights into Xometry's financial performance, explore: Breaking Down Xometry, Inc. (XMTR) Financial Health: Key Insights for Investors

Xometry, Inc. (XMTR) How It Makes Money

Xometry primarily generates revenue by providing a marketplace where customers can obtain instant quotes for custom manufacturing parts and services. It connects clients with a network of manufacturing partners who fulfill the orders.

Xometry's Revenue Breakdown

Here is a table illustrating Xometry's revenue streams, their percentage of the total, and their growth trends based on the latest available information:

Xometry's Business Economics

Xometry operates on a marketplace model, which provides several economic advantages:

• Scalability: The platform can scale efficiently by adding more manufacturing partners without incurring significant capital expenditures.
• Network Effects: As more buyers and suppliers join the marketplace, the value of the platform increases for all participants.
• Pricing Strategy: Xometry uses a proprietary AI-driven pricing engine to provide instant quotes, optimizing pricing based on real-time supply and demand.
• Gross Margin: In 2024, Xometry reported a gross margin of approximately 37%. This indicates a healthy balance between the cost of services and the revenue generated.

Xometry's Financial Performance

Key aspects of Xometry's financial performance include:

• Revenue Growth: Xometry has demonstrated substantial revenue growth, with 2024 revenue reaching $467.7 million, representing a 20% increase year-over-year.
• Gross Profit: The gross profit for 2024 was $172.3 million.
• Active Buyers: As of 2024, Xometry reported over 52,000 active buyers on its platform, showcasing its expanding customer base.
• Net Loss: Despite strong revenue growth, Xometry experienced a net loss of $78.5 million in 2024, reflecting ongoing investments in technology and market expansion.
• Liquidity: Xometry maintains a solid liquidity position with approximately $276.9 million in cash and cash equivalents as of December 31, 2024.

To gain more insights into the company's values, read this: Mission Statement, Vision, & Core Values of Xometry, Inc. (XMTR).

Xometry, Inc. (XMTR) Market Position & Future Outlook

As of April 2025, Xometry is strategically positioned to capitalize on the growing demand for digital manufacturing solutions. With a focus on expanding its marketplace and service offerings, the company aims to strengthen its foothold in the industry. For more insights into the company's financial standing, check out Breaking Down Xometry, Inc. (XMTR) Financial Health: Key Insights for Investors.

Competitive Landscape

Opportunities & Challenges

Industry Position

• Xometry is recognized as a leading player in the digital manufacturing marketplace, connecting businesses with manufacturers through its AI-powered platform.
• The company's focus on providing instant quotes, fast lead times, and a wide range of manufacturing capabilities has helped it gain a strong foothold in the industry.
• Xometry's strategic partnerships with key industry players and its continued investment in technology and innovation position it well for future growth.
• The company is working on expanding its offerings to include more comprehensive supply chain solutions, further solidifying its position as a one-stop-shop for manufacturing needs.