Why Xometry Stock Is Falling Today
3D printing and additive manufacturing startup Xometry (NASDAQ: XMTR) missed analyst expectations for the fourth quarter and warned of slowing growth in 2023. Investors ran for the exits after the results were posted, sending shares of Xometry down more than 40% on Wednesday.
Xometry has been public since the summer of 2021, seeking to take advantage of the push toward 3D printing, or computer-controlled manufacturing processes that produce three-dimensional objects. Xometry is taking a unique approach, creating a marketplace connecting those in need of 3D-printed products with a network of more than 5,000 suppliers.
But the results in the most recent quarter did not live up to expectations. Xometry reported a fourth-quarter loss of $0.29 per share on revenue of $98.2 million, falling short of the $0.23 per share loss on sales of $104 million that analysts had expected.
Source Fool.com
