Xometry Reports 36% Revenue Growth to $205.1 Million in Latest Quarter

Xometry, Inc. reported significant financial growth in its latest quarterly results, with total revenue reaching $205.1 million for the three months ended March 31, 2026, a 36% increase from $150.9 million in the same period last year. The company's marketplace revenue, which constitutes the majority of its income, surged by 40% to $191.3 million, driven by increased buyer activity, particularly among enterprise customers. However, services revenue saw a slight decline of 5%, falling to $13.8 million, attributed to reduced demand for advertising and marketing services.

The company's gross profit also improved, rising to $78.5 million, up 39% from $56.3 million year-over-year. This increase in gross profit was accompanied by a slight improvement in gross margin, which increased to 38.3% from 37.3% in the prior year. The marketplace gross margin specifically improved to 34.7%, reflecting the benefits of Xometry's AI-driven pricing and supplier optimization strategies. Despite these gains, Xometry reported a net loss of $5.3 million, a reduction from a loss of $15.1 million in the same quarter of 2025, indicating progress in managing operational costs.

Operationally, Xometry's active buyer count grew to 85,581, a 20% increase from 71,454 a year earlier, highlighting the company's success in attracting and retaining customers. The number of accounts spending at least $50,000 in the last twelve months also rose by 21% to 1,864. The company continues to expand its geographic footprint, with U.S. revenues accounting for $172.2 million and international revenues at $32.9 million for the quarter.

In terms of strategic developments, Xometry has been active in managing its capital structure. The company issued $250 million in convertible notes due in 2030, which included a partial repurchase of its 2027 notes, resulting in a loss on debt extinguishment of $16.4 million. The company also reported cash and cash equivalents of $21.0 million and marketable securities totaling $202.9 million as of March 31, 2026, providing a solid liquidity position to support future growth initiatives.

Looking ahead, Xometry anticipates continued growth driven by its expanding marketplace and the integration of new suppliers and technologies. The company remains focused on enhancing its operational efficiency and leveraging its AI capabilities to optimize pricing and supplier matching, which it believes will further strengthen its competitive position in the custom manufacturing industry.