Xometry Inc. is heading into the back half of the year with growing financial metrics. It operates a B2B marketplace for manufacturing services. Xometry grew revenue 16% in its fiscal second quarter.
Xometry revenue in Q2
For the quarter ended June 30, Xometry posted total revenue of $111.0 million. That’s up 16% from $95.6 million in the same period last year. Revenue for the company’s manufacturing services marketplace for the second quarter of 2023 was $93.5 million. That’s a 24% year-over-year increase.
Meanwhile, Xometry supplier services revenue for Q2 was $17.5 million. That’s a 13% year-over-year decrease driven by the exit of the supplies business in the U.S., Xometry says.
The number of active buyers grew 44% to 48,294 buyers and the number of suppliers increased 5% to 7,553 sellers.
In addition, the company broadened its net loss in the second quarter to $26.55 million. That compares with $16.53 million in the year-earlier quarter.
“Xometry is empowering our customers to build parts that are critical components in next-generation industries from spacecraft and electric vehicles to medical devices and robotics,” says Xometry CEO Randy Altshuler. “Our digital marketplace and suite of cloud-based solutions are enabling the long tail of the internet to finally reach the thousands of small- and medium-sized manufacturers in the United States and around the world.”
Percentage changes may not align exactly with dollar figures due to rounding. Check back for more earnings reports.
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