Latest news with #Xometry
Yahoo
12-06-2025
- Business
- Yahoo
Xometry Announces Convertible Debt Refinancing and Closing of $250 Million of 0.75% Convertible Senior Notes Offering
Issued $250 million principal amount of convertible notes due in 2030, with the proceeds used in part to retire approximately $202 million principal amount of existing convertible notes due in 2027 Opportunistic refinancing extends the maturity of most of Xometry's existing debt with improved terms, a lower coupon and reduced potential dilution to the existing capital structure Xometry purchased a capped call hedge with a cap price initially at $63.35, which represents a 75% premium over the market price on the transaction date Xometry repurchased approximately $8 million of the Company's common stock in connection with this transaction NORTH BETHESDA, Md., June 12, 2025 (GLOBE NEWSWIRE) -- Xometry, Inc. (NASDAQ:XMTR), the global AI-powered marketplace digitizing manufacturing and driving greater supply chain resiliency, today announced the successful closing of its offering of $250 million aggregate principal amount of 0.75% Convertible Senior Notes due 2030 (the 'Notes'), which included the full exercise of the initial purchasers' option to purchase up to an additional $25 million aggregate principal amount of Notes, in a private placement (the 'Offering') to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'). 'We appreciate the tremendous support from both existing and new investors as we successfully close this important financing for the Company,' said Randy Altschuler, CEO of Xometry. 'We have delivered strong growth and positive Adjusted EBITDA over the past two quarters and expect to deliver full year positive Adjusted EBITDA in 2025. This transaction solidifies our balance sheet, providing us with increased financial flexibility to continue to focus on profitable growth as we digitize manufacturing worldwide.' 'We designed this transaction to opportunistically refinance our debt at attractive terms, lowering our coupon rate to 0.75%," said James Miln, CFO of Xometry. "The transaction fortifies our balance sheet by addressing over $200 million principal amount that had 2027 maturities, while providing us with financial flexibility to continue focusing on our growth initiatives and margin expansion. Importantly, this transaction was structured to minimize the potential future dilution for our equity shareholders with an effective 75% conversion premium to the market price of our Class A common stock on the transaction date.' Overview of the Transaction: Offering Size: $250.0 million aggregate principal amount due in 2030, including the full exercise of the initial purchasers' option to purchase an additional $25.0 million principal amount Interest Rate: 0.75% per annum, payable semiannually, beginning on December 15, 2025 Initial Conversion Rate: 21.2495 shares of Xometry's Class A common stock per $1,000 principal amount of Notes Initial Conversion Price: Approximately $47.06 of Xometry's Class A common stock, which represents a conversion premium of approximately 30.0% to the last reported sale price of Xometry's Class A common stock on June 9, 2025 Capped Call Cap Price: $63.35, which represents a premium of 75.0% over the last reported sale price of Xometry's Class A common stock on June 9, 2025 Uses of Net Proceeds: Repurchase of 2027 Convertible Senior Notes: Approximately $216.7 million in cash was used to repurchase approximately $201.7 million aggregate principal amount of outstanding 1.00% Convertible Senior Notes due 2027 Capped Call Transactions: Approximately $17.5 million of the net proceeds were used to fund the cost of the capped call transactions Share Repurchase: Approximately $8 million of the net proceeds were used to repurchase 220,994 shares of the common stock The Notes were only offered to qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act by means of a private offering memorandum. The Notes and shares of Xometry's Class A common stock issuable upon conversion of the Notes, if any, have not been and will not be registered under the Securities Act, any state securities laws or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction. Forward-Looking Statements This press release contains 'forward-looking' statements that involve risks and uncertainties, including statements concerning Xometry's ability to deliver full year Adjusted EBITDA profitability in 2025 and the impact of the Offering on the Company's financial position and initiatives. In some cases, you can identify forward-looking statements because they contain words such as 'may,' 'will,' 'should,' 'expect,' 'plan,' 'anticipate,' 'could,' 'would,' 'intend,' 'target,' 'project,' 'contemplate,' 'believe,' 'estimate,' 'predict,' 'potential' or 'continue' or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from Xometry's plans, including those more fully described in our filings with the Securities and Exchange Commission ('SEC') from time to time, including our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. All forward-looking statements in this press release are based on information available to Xometry and assumptions and beliefs as of the date hereof, and Xometry disclaims any obligation to update any forward-looking statements, except as required by law. About Xometry Xometry's (NASDAQ: XMTR) AI-powered marketplace, popular Thomasnet® industrial sourcing platform and suite of cloud-based services are rapidly digitizing the manufacturing industry. Xometry provides manufacturers the critical resources they need to grow their business and makes it easy for buyers to get the instant pricing and lead times to create locally resilient supply chains. Learn more at Investor Contact: Shawn MilneVP Investor Media Contact:Lauran CacciatoriGlobal Corporate Matthew HutchisonGlobal Corporate in to access your portfolio
Yahoo
10-06-2025
- Business
- Yahoo
Xometry Announces Pricing of $225 Million Offering of Convertible Senior Notes
NORTH BETHESDA, Md., June 10, 2025 (GLOBE NEWSWIRE) -- Xometry, Inc. ('Xometry') (XMTR), the global AI-powered marketplace connecting buyers with suppliers of manufacturing services, today announced the pricing of $225 million aggregate principal amount of 0.75% Convertible Senior Notes due 2030 (the 'Notes') in a private placement (the 'Offering') to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'). Xometry has also granted the initial purchasers of the Notes an option to purchase, within a 13-day period beginning on, and including, the date on which the Notes are first issued, up to an additional $25 million aggregate principal amount of Notes. The sale of the Notes to the initial purchasers is expected to close on June 12, 2025, subject to customary closing conditions. The Notes will be general unsecured obligations of Xometry and will accrue interest payable semiannually in arrears on June 15 and December 15 of each year, beginning on December 15, 2025, at a rate of 0.75% per year. The Notes will mature on June 15, 2030, unless earlier converted, redeemed or repurchased. Xometry estimates that the net proceeds from the Offering will be approximately $217.0 million (or approximately $241.3 million if the initial purchasers exercise their option to purchase additional Notes in full), after deducting the initial purchasers' discounts and commissions and estimated Offering expenses payable by Xometry. Xometry expects to use the net proceeds from the Offering, together with cash on hand, (i) to pay the approximately $15.7 million cost of the capped call transactions described below, (ii) to use approximately $8.0 million for the repurchase of shares of Xometry's Class A common stock concurrently with the pricing of the Offering as described below, and (iii) to repurchase for approximately $216.7 million in cash approximately $201.7 million aggregate principal amount (including accrued and unpaid interest) of Xometry's outstanding 1.00% Convertible Senior Notes due 2027 (the '2027 notes') as described below. If the initial purchasers exercise their option to purchase additional notes, Xometry expects to use any additional proceeds from the Offering to enter into additional capped call transactions and for working capital and other general corporate purposes, which may include additional repurchases of the 2027 notes from time to time following the Offering, and acquisitions of, or strategic investments in, complementary businesses, products, services or technologies. However, Xometry does not have agreements or commitments with respect to any such acquisition or strategic investment at this time. Prior to March 15, 2030, the Notes will be convertible at the option of the noteholders only if one or more specific conditions are met. On or after March 15, 2030 until the close of business on the second scheduled trading day immediately preceding the maturity date, the Notes will be convertible in integral multiples of $1,000 principal amount at the option of the noteholders at any time regardless of these conditions. Upon conversion, Xometry will pay or deliver, as the case may be, cash, shares of Xometry's Class A common stock or a combination of cash and shares of Xometry's Class A common stock, at its election. The initial conversion rate is 21.2495 shares of Xometry's Class A common stock per $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $47.06 per share of Xometry's Class A common stock, which represents a conversion premium of approximately 30.0% to the last reported sale price of Xometry's Class A common stock on the Nasdaq Global Select Market on June 9, 2025), and will be subject to customary anti-dilution adjustments. Xometry may not redeem the Notes prior to June 20, 2028. Xometry may redeem for cash all or any portion of the Notes (subject to certain limitations), at its option, on or after June 20, 2028 and prior to the 41st scheduled trading day immediately preceding the maturity date of the Notes if the last reported sale price of Xometry's Class A common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which Xometry provides notice of redemption at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If Xometry redeems less than all of the outstanding Notes, at least $100 million aggregate principal amount of Notes must be outstanding and not subject to redemption as of, and after giving effect to, delivery of the relevant notice of redemption. If Xometry undergoes a 'fundamental change' (as defined in the indenture that will govern the Notes), then, subject to certain conditions and limited exceptions, noteholders may require Xometry to repurchase for cash all or any portion of their Notes in principal amounts of $1,000 or an integral multiple thereof at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. In addition, following certain corporate events that occur prior to the maturity date of the Notes or if Xometry delivers a notice of redemption, Xometry will, in certain circumstances, increase the conversion rate of the Notes for a noteholder who elects to convert its Notes in connection with such a corporate event or convert its Notes called (or deemed called) for redemption in connection with such notice of redemption, as the case may be. In connection with the pricing of the Notes, Xometry entered into capped call transactions with certain of the initial purchasers or their respective affiliates and other financial institutions (the 'Option Counterparties'). The capped call transactions cover, subject to customary adjustments, the number of shares of Xometry's Class A common stock initially underlying the Notes. The capped call transactions are expected generally to reduce the potential dilution to Xometry's Class A common stock upon any conversion of Notes and/or offset any cash payments Xometry is required to make in excess of the principal amount of converted Notes, as the case may be, with such reduction and/or offset subject to a cap. The cap price of the capped call transactions relating to the Notes will initially be $63.35, which represents a premium of 75.0% over the last reported sale price of Xometry's Class A common stock on the Nasdaq Global Select Market on June 9, 2025, and is subject to certain adjustments under the terms of the capped call transactions. In connection with establishing their initial hedges of the capped call transactions, Xometry expects the Option Counterparties or their respective affiliates will enter into various derivative transactions with respect to Xometry's Class A common stock and/or purchase shares of Xometry's Class A common stock concurrently with or shortly after the pricing of the Notes, including with, or from, as the case may be, certain investors in the Notes. This activity could increase (or reduce the size of any decrease in) the market price of Xometry's Class A common stock or the Notes at that time. In addition, the Option Counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Xometry's Class A common stock and/or purchasing or selling Xometry's Class A common stock or other securities of Xometry in secondary market transactions following the pricing of the Notes and prior to the maturity of the Notes (and are likely to do so during the 40 trading day period beginning on the 41st scheduled trading day prior to the maturity date of the Notes, or, to the extent Xometry exercises the relevant election under the capped call transactions, following any repurchase, redemption or conversion of the Notes). This activity could also cause or avoid an increase or a decrease in the market price of Xometry's Class A common stock or the Notes which could affect a noteholder's ability to convert the Notes and, to the extent the activity occurs during any observation period related to a conversion of Notes, it could affect the number of shares, if any, and value of the consideration that a noteholder will receive upon conversion of its Notes. Concurrently with the pricing of the Offering, Xometry entered into privately negotiated transactions effected with or through one of the initial purchasers or one of its affiliates with certain purchasers of the Notes in the Offering to repurchase for cash approximately $8.0 million of Xometry's Class A common stock from purchasers at a purchase price per share equal to the last reported sale price per share of Xometry's Class A common stock on the Nasdaq Global Select Market on June 9, 2025. These share repurchases could increase (or reduce the size of any decrease in) the market price of Xometry's Class A common stock or the Notes prior to, concurrently with or shortly after the pricing of the Notes, and could have resulted in a higher effective conversion price for the Notes. Xometry cannot predict the magnitude of such market activity or the overall effect it had on the price of the Notes in the Offering or Xometry's Class A common stock. The Offering is not contingent upon the repurchase of any of Xometry's Class A common stock. Concurrently with the pricing of the Offering, Xometry entered into privately negotiated transactions effected with or through one of the initial purchasers or one of its affiliates with certain holders of the 2027 notes to repurchase, for approximately $216.7 million in cash, approximately $201.7 million aggregate principal amount of its 2027 notes, including accrued and unpaid interest on the 2027 notes, on terms negotiated with each holder of 2027 notes repurchased (each, a 'note repurchase transaction'). Xometry may also repurchase additional outstanding 2027 notes following completion of the Offering. The Offering is not contingent upon the repurchase of the 2027 notes. In connection with any note repurchase transaction, Xometry expects that holders of the 2027 notes who agree to have their 2027 notes repurchased and who have hedged their equity price risk with respect to such 2027 notes (the "hedged holders") will unwind all or part of their hedge positions by buying Xometry's Class A common stock and/or entering into or unwinding various derivative transactions with respect to Xometry's Class A common stock. The amount of Xometry's Class A common stock to be purchased by the hedged holders may have been substantial in relation to the historic average daily trading volume of Xometry's Class A common stock. This activity by the hedged holders could increase (or reduce the size of any decrease in) the market price of Xometry's Class A common stock, including concurrently with the pricing of the Notes, and may have resulted in a higher effective conversion price of the Notes. Xometry cannot predict the magnitude of such market activity or the overall effect it will have on the price of the Notes or Xometry's Class A common stock. The Notes were only offered to qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act by means of a private offering memorandum. The Notes and shares of Xometry's Class A common stock issuable upon conversion of the Notes, if any, have not been and will not be registered under the Securities Act, any state securities laws or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction. Forward-Looking Statements This press release contains 'forward-looking' statements that involve risks and uncertainties, including statements concerning the completion and timing of the proposed Offering of the Notes, the capped call transactions, the Class A common stock repurchase transactions, the note repurchase transactions, and the anticipated use of the net proceeds from the Offering. In some cases, you can identify forward-looking statements because they contain words such as 'may,' 'will,' 'should,' 'expect,' 'plan,' 'anticipate,' 'could,' 'would,' 'intend,' 'target,' 'project,' 'contemplate,' 'believe,' 'estimate,' 'predict,' 'potential' or 'continue' or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from Xometry's plans, including those more fully described in our filings with the Securities and Exchange Commission ('SEC') from time to time, including our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. All forward-looking statements in this press release are based on information available to Xometry and assumptions and beliefs as of the date hereof, and Xometry disclaims any obligation to update any forward-looking statements, except as required by law. About Xometry Xometry's (NASDAQ: XMTR) AI-powered marketplace, popular Thomasnet® industrial sourcing platform and suite of cloud-based services are rapidly digitizing the manufacturing industry. Xometry provides manufacturers the critical resources they need to grow their business and makes it easy for buyers to get the instant pricing and lead times to create locally resilient supply chains. Investor Contact: Shawn MilneVP Investor Media Contact:Lauran Cacciatori Global Corporate Communications Matthew Hutchison Global Corporate in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-06-2025
- Business
- Yahoo
Xometry Announces Proposed $225 Million Offering of Convertible Senior Notes
NORTH BETHESDA, Md., June 09, 2025 (GLOBE NEWSWIRE) -- Xometry, Inc. ('Xometry') (XMTR), the global AI-powered marketplace connecting buyers with suppliers of manufacturing services, today announced its intent to offer, subject to market conditions and other factors, $225 million aggregate principal amount of Convertible Senior Notes due 2030 (the 'Notes') in a private placement (the 'Offering') to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'). Xometry also intends to grant the initial purchasers of the Notes an option to purchase, within a 13-day period beginning on, and including, the date on which the Notes are first issued, up to an additional $25 million aggregate principal amount of Notes. The Notes will be general unsecured obligations of Xometry and will accrue interest payable semiannually in arrears. Upon conversion, Xometry will pay or deliver, as the case may be, cash, shares of Xometry's Class A common stock or a combination of cash and shares of Xometry's Class A common stock, at its election. The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of pricing of the Offering. Xometry expects to use the net proceeds from the Offering, together with cash on hand, if necessary, (i) to pay the cost of the capped call transactions described below, (ii) to use up to $25 million to repurchase shares of Xometry's Class A common stock concurrently with the pricing of the Offering as described below, and (iii) to repurchase for cash a portion of Xometry's outstanding 1.00% Convertible Senior Notes due 2027 (the '2027 notes') as described below. If the initial purchasers exercise their option to purchase additional notes, Xometry expects to use any additional proceeds from the Offering to enter into additional capped call transactions and for working capital and other general corporate purposes, which may include additional repurchases of the 2027 notes from time to time following the Offering, and acquisitions of, or strategic investments in, complementary businesses, products, services or technologies. However, Xometry does not have agreements or commitments with respect to any such acquisition or strategic investment at this time. In connection with the pricing of the Notes, Xometry expects to enter into capped call transactions with one or more of the initial purchasers or affiliates thereof and/or other financial institutions (the 'Option Counterparties'). The capped call transactions will cover, subject to customary adjustments, the number of shares of Xometry's Class A common stock initially underlying the Notes. The capped call transactions are expected generally to reduce the potential dilution to Xometry's Class A common stock upon any conversion of Notes and/or offset any cash payments Xometry is required to make in excess of the principal amount of converted Notes, as the case may be, with such reduction and/or offset subject to a cap. In connection with establishing their initial hedges of the capped call transactions, Xometry expects the Option Counterparties or their respective affiliates will enter into various derivative transactions with respect to Xometry's Class A common stock and/or purchase shares of Xometry's Class A common stock concurrently with or shortly after the pricing of the Notes, including with, or from, as the case may be, certain investors in the Notes. This activity could increase (or reduce the size of any decrease in) the market price of Xometry's Class A common stock or the Notes at that time. In addition, the Option Counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Xometry's Class A common stock and/or purchasing or selling Xometry's Class A common stock or other securities of Xometry in secondary market transactions following the pricing of the Notes and prior to the maturity of the Notes (and are likely to do so during the 40 trading day period beginning on the 41st scheduled trading day prior to the maturity date of the Notes, or, to the extent Xometry exercises the relevant election under the capped call transactions, following any repurchase, redemption or conversion of the Notes). This activity could also cause or avoid an increase or a decrease in the market price of Xometry's Class A common stock or the Notes which could affect a noteholder's ability to convert the Notes and, to the extent the activity occurs during any observation period related to a conversion of Notes, it could affect the number of shares, if any, and value of the consideration that a noteholder will receive upon conversion of its Notes. Xometry expects to use up to $25 million of the net proceeds from the Offering, together with cash on hand, if necessary, to repurchase shares of Xometry's Class A common stock from purchasers of the Notes in the Offering in privately negotiated transactions effected with or through one of the initial purchasers or one of its affiliates concurrently with the pricing of the Offering. Xometry expects to repurchase these shares at a purchase price per share equal to the last reported sale price per share of Xometry's Class A common stock on the date of pricing of the Offering. No assurance can be given as to how much, if any, of Xometry's Class A common stock will be repurchased or the terms on which it will be repurchased. These share repurchases could increase (or reduce the size of any decrease in) the market price of Xometry's Class A common stock prior to, concurrently with or shortly after the pricing of the Notes, and could result in a higher effective conversion price for the Notes. Xometry cannot predict the magnitude of such market activity or the overall effect it will have on the price of the Notes in the Offering or Xometry's Class A common stock. The Offering is not contingent upon the repurchase of any of Xometry's Class A common stock. Xometry expects to use a portion of the net proceeds from the Offering, together with cash on hand, if necessary, to repurchase for cash a portion of its 2027 notes in privately negotiated transactions effected with or through one of the initial purchasers or one of its affiliates concurrently with the pricing of the Offering (each, a 'note repurchase transaction'). The terms of each note repurchase transaction will depend on several factors, including the market price of Xometry's Class A common stock and the trading price of the 2027 notes at the time of such note repurchases. No assurance can be given as to how much, if any of the 2027 notes will be repurchased or the terms on which they will be repurchased. Xometry may also repurchase additional outstanding 2027 notes following completion of the Offering. The Offering is not contingent upon the repurchase of the 2027 notes. In connection with any note repurchase transaction, Xometry expects that holders of the 2027 notes who agree to have their 2027 notes repurchased and who have hedged their equity price risk with respect to such 2027 notes (the 'hedged holders') will unwind all or part of their hedge positions by buying Xometry's Class A common stock and/or entering into or unwinding various derivative transactions with respect to Xometry's Class A common stock. The amount of Xometry's Class A common stock to be purchased by the hedged holders may be substantial in relation to the historic average daily trading volume of Xometry's Class A common stock. This activity by the hedged holders could increase (or reduce the size of any decrease in) the market price of Xometry's Class A common stock, including concurrently with the pricing of the Notes, resulting in a higher effective conversion price of the Notes. Xometry cannot predict the magnitude of such market activity or the overall effect it will have on the price of the Notes or Xometry's Class A common stock. The Notes and shares of Xometry's Class A common stock issuable upon conversion of the Notes, if any, have not been and will not be registered under the Securities Act, any state securities laws or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction. Forward-Looking Statements This press release contains 'forward-looking' statements that involve risks and uncertainties, including statements concerning the proposed terms of the Notes and the capped call transactions, the size of the proposed Offering of the Notes, the Class A common stock repurchase transactions, the note repurchase transactions, and the anticipated use of the net proceeds from the Offering. In some cases, you can identify forward-looking statements because they contain words such as 'may,' 'will,' 'should,' 'expect,' 'plan,' 'anticipate,' 'could,' 'would,' 'intend,' 'target,' 'project,' 'contemplate,' 'believe,' 'estimate,' 'predict,' 'potential' or 'continue' or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from Xometry's plans, including those more fully described in our filings with the Securities and Exchange Commission ('SEC') from time to time, including our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. All forward-looking statements in this press release are based on information available to Xometry and assumptions and beliefs as of the date hereof, and Xometry disclaims any obligation to update any forward-looking statements, except as required by law. About Xometry Xometry's (NASDAQ: XMTR) AI-powered marketplace, popular Thomasnet® industrial sourcing platform and suite of cloud-based services are rapidly digitizing the manufacturing industry. Xometry provides manufacturers the critical resources they need to grow their business and makes it easy for buyers to get the instant pricing and lead times to create locally resilient supply chains. Investor Contact: Shawn MilneVP Investor Media Contact: Lauran Cacciatori Global Corporate Communications Matthew Hutchison Global Corporate in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
05-06-2025
- Business
- Business Wire
Chris Cope Joins CADDi as Vice President of Engineering
CHICAGO & TOKYO--(BUSINESS WIRE)-- CADDi, the AI-powered data platform transforming manufacturing by democratizing supply chain and design data, today announced the appointment of Chris Cope as Vice President of Engineering. Cope brings over 20 years of expertise in building technology with a strong focus on artificial intelligence, security, and automation. "There is no company better positioned (than CADDi) to deliver AI-driven transformation to the world's manufacturers for the years to come. " Share Before joining CADDi, Cope held critical leadership roles at high-growth technology companies including Xometry and Aledade. At Xometry, he served as Senior Director of Software Engineering and Chief Information Security Officer (CISO), playing an instrumental role in scaling the world's largest AI-driven manufacturing marketplace from its Series B funding round through IPO. Cope successfully led software development and site-reliability teams, ensuring stringent compliance and security requirements essential for Aerospace and Defense customers. At Aledade, an innovative AI-enabled healthtech startup, Cope led DevOps and Security initiatives, driving the implementation of secure, scalable systems that supported rapid growth. 'I have admired CADDi for a long time," said Cope. "There is no company better positioned to deliver AI-driven transformation to the world's manufacturers for the years to come. I look forward to accelerating our technological capabilities and further cementing CADDi's position as a global leader in manufacturing technology.' With Cope's appointment, CADDi strengthens its commitment to scaling its engineering operations, enhancing security, and leveraging automation to maintain the highest standards demanded by leading manufacturers worldwide. 'Chris's track record in hyper-growth environments and his deep expertise in AI and secure platform development make him an ideal fit for CADDi as we continue our rapid expansion,' said Yushiro Kato, CEO and Co-Founder of CADDi. 'His strategic insights and obsessive focus on automation will help propel our engineering team forward, enhancing our platform's value to our global customer base.' About CADDi CADDi is an AI-powered data platform transforming manufacturing by making design and supply chain data accessible, insightful, and actionable. Founded in 2017 by industry veterans Yushiro Kato (McKinsey) and Aki Kobashi (Apple, Lockheed Martin), CADDi converts decades of scattered and unstructured manufacturing data into actionable intelligence, driving efficiency, reducing costs, and accelerating innovation across manufacturers globally. Headquartered between Tokyo and Chicago, CADDi has operations in Japan, the United States, Vietnam, and Thailand. CADDi supports key sectors including automotive, medtech, biotech, robotics, industrial machining, industrial electronics, and prototyping. Recognized for innovation, CADDi was named to Fast Company's Most Innovative Companies list in 2024 and won the 2024 SaaS Award for Best Business Intelligence and Engineering Management Software. For more information, visit Additional Resources:
Yahoo
03-06-2025
- Business
- Yahoo
Which Internet Software Stocks Is JP Morgan Bullish On?
JP Morgan analyst Cory Carpenter named Take-Two Interactive Software (NASDAQ:TTWO) and Xometry (NASDAQ:XMTR) as top picks within the internet small and mid-cap (SMID) and video games sectors. As part of a wider reassessment of the internet SMID and video games sectors, this modification by JP Morgan encapsulates their latest industry analysis and projections. The key conclusion of this assessment is that small-cap internet stocks continue to underperform significantly, marking the fifth consecutive year of this this, the sector shows some resilience with the median covered company projected to grow revenue by 9% and maintain a 20% EBITDA margin in 2025, with all companies now adjusted EBITDA profitable, the analyst observed in the report. A notable finding is the potential positive impact of the App Store ruling on companies like Match Group (NASDAQ:MTCH) and Bumble (NASDAQ:BMBL), which may result in some fee relief. While overall estimates for 2025 have seen slight downward revisions, the report highlights specific opportunities and dislocations, such as Take-Two Interactive as a top pick due to the anticipated GTA VI release, and identifies Roku, Inc. (NASDAQ:ROKU) and Xometry as companies with stock dislocations worth watching. Carpenter maintained an Overweight rating on Take-Two Interactive with a price forecast of $250 due to the highly anticipated GTA VI (May 2026), its status as the most anticipated video game release in history, and strong performance from NBA 2K and Zynga. While GTA VI delays pose a risk, the firm projects significant growth with $8.75 billion in bookings and $9 adjusted EPS in FY27, driven by GTA VI unit sales. The analyst has rated Xometry Overweight with a $38 price forecast, calling it a top small-cap pick. The custom manufacturing marketplace is seen as a clear leader in a growing online market, with accelerating revenue. Despite risks like manufacturing contraction, Xometry is projected for $595 million in marketplace revenue and $13 million adjusted EBITDA in 2025. Tariffs, supply chain uncertainty, and onshoring should accelerate share gains, as per the analyst. He increased the price forecast from $36 to $38. Carpenter also increased the price forecast for Roblox Corp. (NYSE:RBLX) (from $80 to $100), citing beat and raise first-quarter and strong second-quarter intra-quarter trends. The analyst raised the price forecast on Roku, Inc. from $75 to $85, citing China tariff relief and platform revenue upside potential. He boosted the price forecast on Applovin Corp. (NASDAQ:APP) from $355 to $400, citing a first-quarter beat, app store ruling, and self-serve catalyst. Carpenter downgraded Bumble from Neutral to Underweight, maintaining a $5 price forecast, despite the stock's recent 50%+ surge since Liberation Day. The upgrade in profit, driven by cost cuts, offset weaker revenue. However, Carpenter anticipates accelerated declines in revenue and payers, citing worsening U.S. download trends. He expects margins to moderate as brand marketing resumes (i.e., another big upgrade seems unlikely) and notes continued challenges in the online dating sector, especially with Gen Z engagement. Tinder's turnaround is further along, yet Match Group shares are near all-time lows, reflecting industry-wide struggles. Read Next:Image via Shutterstock Date Firm Action From To Mar 2022 Deutsche Bank Initiates Coverage On Buy Mar 2022 BMO Capital Upgrades Market Perform Outperform Feb 2022 BMO Capital Maintains Market Perform View More Analyst Ratings for MTCH View the Latest Analyst Ratings UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? TAKE-TWO INTERACTIVE (TTWO): Free Stock Analysis Report This article Which Internet Software Stocks Is JP Morgan Bullish On? originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
