Xometry (Nasdaq: XMTR) has reported its best-ever quarterly results, with strong growth across its online manufacturing marketplace. The company saw gains in revenue, profit margins, and customer activity, pointing to the success of its AI-powered platform and enterprise strategy. Xometry continues to expand both in the U.S. and internationally, with a focus on increasing its supplier network and improving buyer tools, which include expanded instant quoting for new additive materials.
“Q2 was another strong quarter with record revenue, gross margin, and adjusted EBITDA,” said Randy Altschuler, co-founder and CEO of Xometry. “Marketplace growth remained robust, increasing 26% year over year, driven by our rapidly expanding networks of buyers and suppliers and deepening enterprise engagement.”
In the second quarter of the year, Xometry’s total revenue reached $163 million, up 23% compared to the same quarter last year. Most of that growth came from its core marketplace business, which grew 26% year-over-year. Gross profit also jumped 23%, reaching $65.2 million. The company achieved a record gross margin of 40.1%, with its marketplace business specifically hitting 35.4%, a new high.
Adjusted EBITDA turned positive, improving by $6.6 million to reach $3.9 million for the quarter. While the company reported a net loss of $26.4 million, this included a one-time $16.4 million loss that was tied to debt refinancing.
“We expect to deliver improved profitability even as we continue to invest in our growth initiatives,” CFO James Miln told investors during an earnings call on August 5, 2025.
Carbon Digital Light Synthesis (DLS) 3D printing service by Xometry. Image courtesy of Xometry.
Xometry’s marketplace is growing steadily. In fact, the number of active buyers reached nearly 75,000, up 22% from last year. More customers are spending bigger amounts, too. The executives indicated that accounts spending over $50,000 a year went up 15%, and most of the company’s revenue (98%) came from returning customers.
Xometry’s platform improvements were a big part of the story this quarter. The company added new AI tools to help buyers get faster quotes and find the right suppliers. In Europe, the UK, and Turkey, it launched Teamspace so teams can work together on orders. Xometry also made it easier for big companies to connect its services to their own systems. It expanded instant quoting to cover more additive manufacturing materials, helping speed up the 3D printing process for customers and suppliers.
Meanwhile, in North America, Xometry launched a new AI tool that reads technical drawings automatically, helping speed up quotes and supplier matches. Its Thomasnet platform also teamed up with NSF, a global leader in public health and safety certification, to help suppliers get certified, making them more trustworthy to buyers.
“We’re building a superior business model that delivers a strong experience for both buyers and suppliers, while driving increasing operating scale and expanding adjusted EBITDA margin,” Altschuler said.
Xometry CEO and co-founder Randy Altschuler.
For the third quarter of 2025, Xometry expects revenue between $167 million and $169 million, up 18% to 19% year-over-year. Adjusted EBITDA is expected to be between $4 million and $5 million. Full-year marketplace growth guidance was raised to between 23% and 24%, while supplier services revenue is expected to decline by about 5%.
Altschuler noted that Xometry is gaining market share in a fragmented and often offline manufacturing world: “Our efficacy and competitive moat continue to increase as we grow our networks of buyers and suppliers and gain more data to continuously train our algorithms. Our marketplace helps customers mitigate supply chain volatility and disruptions by offering access to a diverse, expanding global manufacturing network of over 4,000 active suppliers.”
Miln added that the company is on track to scale toward $1 billion in revenue, with a focus on long-term profitability and continued investment in AI and product development.
“Q2 was another strong quarter for Xometry, delivering strong revenue growth, robust expansion in marketplace gross margin, and significant adjusted EBITDA leverage,” he concluded.
Xometry shares jumped after the Q2 earnings report was released on August 5, rising as much as 44% in early trading, reaching a 52-week high of around $45. Before this, the stock had been mostly flat in 2025, up just about 1.5% over the last three months. The sharp rise points to how strongly the market responded to Xometry’s results and outlook, showing renewed interest after a slower start to the year.
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