Xometry and Protolabs Both Posted Record Revenue Last Quarter

Manufacturing Demand Is Still Strong

The latest quarterly earnings from three major manufacturing names suggest the broader economy has not lost its appetite for made-to-order parts. Xometry, Protolabs, and Lincoln Electric each reported record results, though the 3D printing piece of the story looks very different across the three companies.

Xometry, the digital manufacturing marketplace, posted $229 million in revenue, up 41% from the same quarter last year. Marketplace revenue hit $215 million, a 45% increase. Active buyers on the platform grew to nearly 90,000, and the number of accounts spending more than $50,000 annually rose 23%. Management raised its full-year revenue growth forecast to 33% to 34%, up from a previous range of 27% to 28%. The company is also pouring resources into AI-powered supplier matching and pricing models.

3D Printing Is Flat for Protolabs

Protolabs reported record revenue of $149.3 million, a 10.6% increase. CNC machining and injection molding both grew double digits. Its additive manufacturing segment, however, was essentially flat. AM revenue came in at $20.7 million compared to $21.2 million a year earlier. That does not mean customers are abandoning 3D printing. It just means CNC and injection molding grew much faster this quarter. Protolabs raised its full-year guidance to 8% to 10% growth, so the outlook is positive even if 3D printing was not the star.

Lincoln Electric Benefits From Industrial Spending

Lincoln Electric, the welding equipment giant, posted a record second quarter with sales of $1.22 billion, up 12%. The company makes metal 3D printing systems through its wire-arc additive manufacturing line, but that is a small fraction of the overall business. The bigger signal here is that industrial customers are still investing in equipment. When factories expand, they buy welding systems. They also buy metal AM machines. Lincoln Electric's results are a proxy for that broader capex cycle.

What It Means for 3D Printing

Publicly traded pure-play 3D printing companies have struggled for years as customers delayed large machine purchases. These results do not change that picture directly. But they do show that manufacturing activity remains healthy. When the economy is expanding, 3D printing eventually benefits as another tool in the production floor. Xometry's growth is the most encouraging signal for the industry because its marketplace funnels work to AM service bureaus alongside CNC and molding shops.