Key Takeaways
- Xometry, Protolabs, and Lincoln Electric posted strong quarterly earnings, indicating continued spending in the manufacturing sector.
- Xometry reported a 41% year-over-year revenue increase to $229 million, with a record gross profit of $87.2 million.
- Protolabs saw a 10.6% revenue increase to $149.3 million, with CNC machining revenue growing 13.6% year over year.
- Lincoln Electric reported record sales and earnings, with its additive manufacturing business closely tied to industrial capital spending.
Introduction to the Latest Earnings Reports
The latest earnings reports from Xometry, Protolabs, and Lincoln Electric suggest that manufacturers are still investing in their operations. While each company tells a slightly different story about the state of the 3D printing market, the overall trend is one of continued growth.
Xometry's Record Quarter
Xometry reported a record quarter, with revenue rising 41% year over year to $229 million. The company's marketplace revenue, which accounts for most of its business, increased 45% to $215 million. Gross profit reached a record $87.2 million, while adjusted EBITDA improved to $14.1 million. Xometry's active buyers increased 20% to nearly 90,000, with the number of accounts spending more than $50,000 annually rising 23%.
Comparison of Xometry and Protolabs
| Company | Revenue Growth | Gross Profit | Adjusted EBITDA |
|---|---|---|---|
| Xometry | 41% | $87.2 million | $14.1 million |
| Protolabs | 10.6% | Not disclosed | Not disclosed |
Protolabs' Strong Quarter
Protolabs reported a record quarter, with revenue increasing 10.6% to $149.3 million. The company improved profitability and raised its full-year revenue guidance to between 8% and 10% growth. CNC machining revenue increased 13.6% year over year, while 3D printing revenue remained flat.
Lincoln Electric's Record Sales and Earnings
Lincoln Electric reported record sales and earnings, with its additive manufacturing business closely tied to industrial capital spending. While the company did not disclose specific numbers for its additive manufacturing business, the overall trend suggests that manufacturers are still investing in their operations.
Bottom Line
The latest earnings reports from Xometry, Protolabs, and Lincoln Electric indicate that manufacturers are still spending, with each company telling a slightly different story about the state of the 3D printing market. Xometry's record quarter, with a 41% year-over-year revenue increase, suggests that the company's marketplace is continuing to grow. Protolabs' strong quarter, with a 10.6% revenue increase, indicates that the company is still seeing growth in its business, although 3D printing revenue remained flat. Overall, the trend is one of continued growth, with manufacturers still investing in their operations.