Xometry Reports 23% Revenue Growth to $162.5 Million in Q2 2025

Xometry, Inc. reported significant financial results for the second quarter of 2025, with total revenue reaching $162.5 million, a 23% increase from $132.6 million in the same period last year. The growth was primarily driven by a 26% rise in marketplace revenue, which amounted to $148.2 million, up from $117.3 million. However, supplier services revenue saw a slight decline, dropping to $14.3 million from $15.3 million. The company's gross profit also increased, totaling $65.2 million, compared to $52.9 million in the prior year, resulting in a gross margin of 40.1%, up from 39.9%.

In terms of profitability, Xometry reported a net loss of $26.4 million for the quarter, compared to a loss of $13.7 million in Q2 2024. The loss per share was $0.52, compared to $0.28 in the previous year. The increase in net loss was attributed to a $16.4 million loss on debt extinguishment related to the partial repurchase of convertible notes, alongside other operational expenses. Total operating expenses rose to $75.5 million from $68.2 million, driven by higher costs in sales and marketing, operations and support, and product development.

Strategically, Xometry has been active in expanding its operations and capabilities. The company launched its Teamspace platform in Europe during the second quarter, enhancing its suite of cloud-based services. Additionally, Xometry's active supplier base has grown to over 4,375, contributing to its marketplace's efficiency and capacity. The company also reported a 22% increase in active buyers, reaching 74,777, indicating strong engagement and retention on its platform.

Operationally, Xometry's U.S. segment generated $135.7 million in revenue, while the International segment contributed $26.8 million. The company continues to focus on enhancing its marketplace offerings, with plans to expand the range of manufacturing processes available to buyers. As of June 30, 2025, Xometry's cash and cash equivalents, along with marketable securities, totaled $225.8 million, providing a solid financial foundation for future growth.

Looking ahead, Xometry anticipates continued growth driven by increased buyer activity and the expansion of its supplier network. The company remains cautious about macroeconomic conditions, including inflation and geopolitical tensions, which could impact its operations. However, management believes that its existing cash reserves and ongoing operational improvements will support its strategic objectives and financial stability in the coming quarters.