Xometry, an on-demand manufacturing firm, has filed for a planned initial public offering on the Nasdaq Global Select Market. On June 4, the on-demand manufacturing firm sought to begin trading on the Nasdaq Global Select.
With our guide, you’ll learn how to buy stocks and participate in Xometry, Inc. IPO.
What Is Xometry, Inc. IPO Date?
On June 21st, Xometry, which operates an online marketplace for on-demand manufacturing, revealed the conditions of its initial public offering (IPO). The business, located in Derwood, Maryland, intends to raise $275 million by selling 6.9 million shares at a price range of $38 to $42.
Quick Xometry, Inc. History
Xometry is a marketplace for on-demand industrial parts located in Gaithersburg, Maryland. In July 2018, the firm purchased MakeTime, a major on-demand manufacturing startup, considerably broadening its reach. Xometry now employs around 235 employees and reported revenues of $149 million (with losses) in the previous fiscal year.
Xometry has decided to go public eight years after CEO Randy Altschuler started the firm. They have successfully completed multiple fundraising rounds while expanding its supplier network and client base. Back in 2019, Xometry purchased Machine Tool & Supply of Jackson, Tennessee, and began offering hand tools, metal, and other manufacturing supplies through Xometry Supplies.
Outlook for Xometry, Inc. IPO
Xometry was formed in 2013 and has sales of $159 million for the fiscal year ending March 31, 2021. It intends to go public on the Nasdaq under the ticker name XMTR. According to the company, Xometry is a leading AI-enabled marketplace for on-demand manufacturing, allowing customers to effectively obtain on-demand produced components and assemblies.
Last year, the firm generated $141 million in revenue while incurring a $29 million operating deficit. In its most recent fundraising round, the firm raised an additional $75 million in 2020. Xometry has received $193 million since its inception in 2013, including a $55 million Series D investment in 2019.
The Good and the Bad of Xometry’s IPO
Having stock or shares in a company provides a number of benefits to any investor. The following are some of the advantages and disadvantages of being a Xometry shareholder.
Pros of Owning Xometry IPO Stock
- Currently, the on-demand manufacturing marketplace is one of the largest in the world, with a Digital RFQ Marketplace connecting clients to a vast network with thousands of manufacturing partners.
- For several years, the notion of an on-demand manufacturing network has been expanding, with demand rising spontaneously.
- This sector’s development has been propelled this year as on-demand manufacturing has grown to fulfill pandemic needs, such as with 3D printed personal protective equipment (PPE).
Cons of Owning Xometry IPO Stock
- Although the firm has been operating better recently, it nevertheless recorded a net loss of $39.9 million in 2020, which was larger than the loss of $30.9 million in 2019.
- Hawk Ridge Systems, Divergent 3D, XYZPrinting, ARC Group Worldwide, and CAD BLU are among the top competitors that might possibly take a substantial amount of business from Xometry in the future.
Steps to Buy Xometry IPO
To buy the Xometry IPO, you must first establish a brokerage account, then a trading account, deposit funds, and then start buying shares.
Step 1: Select the Brokerage
To purchase Xometry shares, you must first select a brokerage. Remember to do your homework. Whether you like aggressive trading or a more sensible, buy-and-hold approach, your broker should reflect your investment objectives.
Step 2: Open the Trading Account
You’ll need to open an account with the brokerage once you have decided which one is best for you. This account may be used to keep a record of all of the stocks in your portfolio.
Step 3: Deposit Funds Into the Account
You’ll be able to deposit funds to acquire Xometry shares once you’ve added a payment method to your account. The next step is to pick how many Xometry stock shares you want to purchase.
Step 4: Search for the Xometry Ticker Symbol (XMTR)
On the stock exchange, a ticker symbol is necessary since it is used to represent each publicly traded stock. Xometry plans to go public on the New York Stock Exchange under the ticker symbol XMTR.
Step 5: Purchase Xometry Stock
To purchase XMTR shares, you must complete the following:
- Choose an action type.
- Fill in the amount of shares you’d like to purchase (or sell).
- Simply press the “buy” (or “sell”) button.
Should You Invest In Xometry IPO?
Xometry was founded with the goal of providing convenient and simple production solutions. Covid-19 shattered a lot of people’s established connections with their suppliers. With that disruption came a rapid growth in dispersed manufacturing, which has really benefited Xometry over the past year.
The firm has been able to aim for long-term growth and investors have been noticing this which is why their new IPO is so enticing. The future of this offering appears to be a very promising investment opportunity. If you want to learn more about how to invest in IPOs, you should speak with a financial advisor.