Xometry, Protolabs, and Lincoln Electric All Post Strong Quarters

Three manufacturers with 3D printing exposure reported record quarters

Xometry, Protolabs, and Lincoln Electric all beat expectations last quarter. The results show that manufacturers are still spending money on production tools, though 3D printing is not growing as fast as CNC or injection molding at every company.

Xometry reported record quarterly revenue of $229 million, up 41% from a year ago. Its marketplace, where customers order custom parts from a network of suppliers, generated $215 million, a 45% increase. Gross profit reached $87.2 million and adjusted EBITDA hit $14.1 million. Active buyers on the platform grew 20% to nearly 90,000, and the number of customers spending more than $50,000 annually rose 23%. The company raised its full-year revenue growth forecast to 33% to 34%, up from a previous 27% to 28%.

Protolabs posted record revenue of $149.3 million, up 10.6% year over year. CNC machining revenue rose 13.6% and injection molding increased 13.1%. Both segments had record quarters. The company's additive manufacturing business brought in $20.7 million, down slightly from $21.2 million a year earlier. That flat performance did not stop Protolabs from raising its full-year guidance to 8% to 10% growth.

Lincoln Electric reported record second-quarter sales of nearly $1.22 billion, up 12% from a year ago. The welding equipment and filler metals giant also sells metal additive manufacturing systems through its subsidiaries. Strong demand in the Americas and Asia Pacific drove the results. The company's operating margins improved along with earnings.

For the 3D printing industry, the message is mixed but positive. Xometry's growth suggests more companies are ordering custom parts through digital marketplaces, which includes AM along with traditional methods. Protolabs shows that CNC and injection molding are currently outpacing 3D printing as revenue drivers. Lincoln Electric's performance indicates that industrial customers are still investing in fabrication equipment, a good sign for metal AM suppliers.

The public 3D printing sector has struggled with delayed equipment purchases over the past two years. These results suggest the broader manufacturing market is healthy enough to support continued investment across multiple processes. Companies that offer both 3D printing and conventional methods may be best positioned for the current market.