Xometry Reports 26% Revenue Growth to $686.6 Million in Fiscal Year 2025

Xometry, Inc. reported significant financial growth in its fiscal year ending December 31, 2025, with total revenue reaching $686.6 million, a 26% increase from $545.5 million in 2024. The company's marketplace revenue, which constitutes the majority of its income, surged by 30% to $629.6 million, driven by increased buyer activity, particularly among enterprise customers. However, services revenue saw a slight decline of 4%, totaling $57 million, primarily due to reductions in advertising and marketing services offered through its Thomasnet platform.

Despite the revenue growth, Xometry recorded a net loss of $61.7 million for 2025, compared to a loss of $50.4 million in the previous year. The increase in losses was attributed to higher operating expenses, which rose to $314.3 million from $271.8 million in 2024. Notably, sales and marketing expenses increased by 13% to $122.7 million, reflecting the company's ongoing investment in brand awareness and customer acquisition. The gross profit margin slightly decreased to 39.1% from 39.5%, influenced by a shift towards marketplace revenue, which typically has lower margins than services.

Operationally, Xometry expanded its active buyer base to 81,821, a 20% increase year-over-year, while the number of active suppliers grew by 17% to 4,996. The company also made strides in international markets, with international revenue increasing by 27% to $113 million, representing 18% of total marketplace revenue. Xometry's workforce was reduced by approximately 5% as part of a restructuring effort aimed at improving efficiency and aligning resources.

Strategically, Xometry has focused on enhancing its technology and expanding its service offerings. The company invested in its AI-driven platform to optimize pricing and supplier matching, which is expected to improve operational efficiencies. Additionally, Xometry's acquisition of Thomasnet has bolstered its marketing services, providing a comprehensive suite of tools for suppliers. The company also initiated capped call transactions related to its convertible notes to mitigate potential dilution of its stock.

Looking ahead, Xometry anticipates continued growth driven by its expanding network of buyers and suppliers, as well as ongoing investments in technology and international expansion. However, the company acknowledges potential challenges, including macroeconomic conditions that could impact consumer spending and operational performance. Xometry remains committed to leveraging its marketplace model to capture a larger share of the estimated $275 billion addressable market for custom manufacturing.