Xometry Reports 23% Revenue Growth to $150.97 Million in Q1 2025

Xometry, Inc. reported a significant increase in its financial performance for the first quarter of 2025, with total revenue reaching $150.97 million, a 23% increase from $122.69 million in the same period last year. The growth was primarily driven by a 27% rise in marketplace revenue, which amounted to $136.35 million, up from $107.19 million in Q1 2024. However, the company experienced a slight decline in supplier services revenue, which decreased by 6% to $14.62 million. Despite the revenue growth, Xometry reported a net loss of $15.08 million, an improvement from the $16.60 million loss recorded in the previous year.

In terms of operational metrics, Xometry's active buyer count increased by 22% year-over-year, reaching 71,454 as of March 31, 2025. The company also reported that 98% of its revenue was generated from existing accounts, indicating strong customer retention and engagement. The number of accounts with a last twelve-month spend of at least $50,000 rose to 1,545, reflecting a 12% increase from the previous year. These metrics suggest that Xometry is effectively expanding its customer base while deepening relationships with existing clients.

Xometry's operational expenses for the quarter totaled $71.72 million, up from $65.76 million in Q1 2024. The increase was attributed to higher costs in operations and support, product development, and general and administrative expenses. Notably, the company initiated a restructuring plan in March 2025, resulting in a workforce reduction of approximately 5% to improve efficiency. This restructuring incurred costs of $1.46 million during the quarter. Despite the increase in operating expenses, the company managed to reduce its loss from operations to $15.39 million, compared to $17.86 million in the prior year.

The company’s balance sheet as of March 31, 2025, showed total assets of $690.11 million, a slight increase from $680.13 million at the end of 2024. Cash and cash equivalents decreased to $15.51 million from $22.23 million, while marketable securities remained relatively stable at $215.87 million. Xometry's total liabilities increased to $379.08 million, up from $364.53 million, primarily due to higher accounts payable and accrued costs. The company’s stockholders' equity stood at $309.90 million, down from $314.45 million at the end of the previous year.

Looking ahead, Xometry remains optimistic about its growth trajectory, emphasizing its commitment to expanding its marketplace and enhancing its service offerings. The company plans to continue investing in its technology and marketing efforts to attract new buyers and suppliers while managing costs effectively. However, Xometry also acknowledged potential risks from macroeconomic factors, including inflation and geopolitical tensions, which could impact its operations and financial performance in the future.