Maryland technology company Xometry Inc. is consolidating its offices in Derwood and Bethesda into new space in North Bethesda that will serve as its headquarters.
The company, which went public last year, will occupy the entire 8th floor at 6116 Executive Blvd. A space it said was designed to accommodate 150 employees. Xometry (NASDAQ: XMTR) has about 200 employees in Greater Washington.
“After years of remote and hybrid work, there’s a desire among employees for a space that serves as the nucleus of the organization — one where everyone can gather, collaborate, share ideas over the proverbial water cooler, just like they did prior to the pandemic,” Sophia MacDonald, Xometry’s Chief People Officer, said. “That’s what this office represents for us — a place for the best tech talent in the DMV and from across the country to come together and help push our business forward.”
Xometry’s technology uses artificial intelligence technology to connect designers and engineers with manufacturers — helping the buyers get the parts they need and the manufacturers increase sales. Engineers, for example, can submit design files online and instantly get quotes on custom-manufactured parts, which are then ordered and sourced through Xometry’s network.
Xometry said it had 36,789 active buyers using its marketplace as of Sept. 30, a 40% increase from a year earlier.
In the third quarter, the company generated revenue of $103.6 million, up 83% year over year. Its gross profit — total sales minus the cost of goods sold — was $40.9 million, up 182% year over year. Its net loss for the quarter was $15 million, up slightly from the same period in 2021.
For the current quarter, Xometry is projecting revenue to increase by 55% to 58% from last year's fourth quarter, to between $104 million and $106 million.