Xometry Reports First Quarter 2025 Results

  • Q1 revenue increased 23% year-over-year to a record $151 million driven by robust marketplace growth.
  • Q1 marketplace revenue increased 27% year-over-year, a 700 basis point acceleration from Q4 2024, driven by strong U.S. enterprise growth.
  • Q1 gross profit increased 18% year-over-year to $56.3 million.
  • Q1 marketplace gross profit increased 26% year-over-year.
  • Q1 Adjusted EBITDA improved $7.5 million year-over-year to Adjusted EBITDA of $0.1 million.
  • 2025 growth initiatives include: expanding buyer and supplier networks; driving deeper enterprise engagement; further expanding the marketplace platform; growing internationally and enhancing supplier services.

NORTH BETHESDA, Md., May 06, 2025 (GLOBE NEWSWIRE) -- Xometry, Inc. (NASDAQ: XMTR), the global AI-powered marketplace digitizing manufacturing and driving greater supply chain resiliency, today announced financial results for the first quarter ended March 31, 2025.

“Our AI powered marketplace continues to gain significant share, deliver record revenue and strong enterprise growth,” said Randy Altschuler, Xometry’s CEO. “Customers are increasingly turning to Xometry to procure manufacturing as our marketplace was purpose-built to provide sourcing options domestically and in 50 countries across the world.”   

“In Q1, we delivered strong marketplace revenue growth and positive Adjusted EBITDA,” said James Miln, Xometry’s CFO. “As our marketplace continues to grow, it drives increasing operating leverage demonstrated by our $7.5 million year-over-year improvement in Adjusted EBITDA.”

First Quarter 2025 Financial Highlights

  • Marketplace revenue for the first quarter of 2025 was $136 million, an increase of 27% year-over-year.
  • Marketplace Active Buyers increased 22% from 58,504 as of March 31, 2024 to 71,454 as of March 31, 2025.
  • Marketplace Accounts with Last Twelve-Months Spend of at least $50,000 increased 12% from 1,381 as of March 31, 2024 to 1,545 as of March 31, 2025.
  • Supplier services revenue for the first quarter of 2025 was $14.6 million, a decrease of 6% year-over-year.
  • Net loss attributable to common stockholders for the first quarter of 2025 was $15.1 million, a decrease of $1.5 million year-over-year. Net loss for the first quarter of 2025 included $7.3 million of stock-based compensation, $1.5 million of payroll tax expense related to stock-based compensation, $4.2 million of depreciation and amortization expense and $1.5 million in restructuring charges.
  • Adjusted EBITDA for the first quarter of 2025 was a profit of $0.1 million, reflecting an improvement of $7.5 million year-over-year.
  • Non-GAAP net income for the first quarter of 2025 was $0.8 million, as compared to a Non-GAAP net loss of $5.7 million in the first quarter of 2024.
  • Cash, cash equivalents and marketable securities were $231 million as of March 31, 2025.

First Quarter 2025 Business Highlights

  • Xometry EU launched Instant Quoting for Injection Molding, making it easier for customers to source high quality parts across dozens of materials and finishes.
  • Achieved Cybersecurity Maturity Model Certification (CMMC Level 2), for adherence to cybersecurity and information security standards for the aerospace and defense industries. CMMC Level 2 certification demonstrates Xometry’s industry leadership, and reinforces our position as a trusted partner for domestic aerospace companies, defense agencies, and other organizations.
  • Launched Partner Success Score (PSS) 3.0, enhancing our sourcing algorithm by integrating comprehensive performance data, enabling automated job access controls and driving greater supplier engagement.
  • Significantly improved Workcenter’s speed and usability. Key updates include streamlined navigation and enhanced job board experience, leading to a smoother workflow for our suppliers.


Financial Summary
(In thousands, except per share amounts)
(Unaudited)
       
  For the Three Months
Ended March 31,
    
  2025  2024  % Change 
       
Consolidated         
Revenue $150,971  $122,690   23%
Gross profit  56,331   47,902   18%
Net loss attributable to common stockholders  (15,078)  (16,616)  9%
EPS, basic and diluted, of Class A and Class B common stock  (0.30)  (0.34)  12%
Adjusted EBITDA(1)  78   (7,459)  101%
Non-GAAP net income (loss)(1)  828   (5,742)  114%
Non-GAAP EPS, basic and diluted(1), of Class A and Class B common stock  0.02   (0.12)  117%
          
Marketplace         
Revenue $136,353  $107,186   27%
Cost of revenue  93,046   72,907   28%
Gross Profit $43,307  $34,279   26%
Gross Margin  31.8%  32.0%  (0.2)%
          
Supplier services         
Revenue $14,618  $15,504   (6)%
Cost of revenue  1,594   1,881   (15)%
Gross Profit $13,024  $13,623   (4)%
Gross Margin  89.1%  87.9%  1.2%


(1)These non-GAAP financial measures, and the reasons why we believe these non-GAAP financial measures are useful, are described below and reconciled to their most directly comparable GAAP measures in the accompanying tables.


Key Operating Metrics
(2):

  As of March 31, 
  2025  2024  %
Change
 
          
Active Buyers(3)  71,454   58,504   22%
Percentage of Revenue from Existing Accounts(3)  98%  95%   
Accounts with Last Twelve-Months Spend of at Least $50,000(3)  1,545   1,381   12%
          


(2)These key operating metrics are for Marketplace and Supplier Services. See “Key Terms for our Key Metrics and Non-GAAP Financial Measures” below for definitions of these metrics.
(3)Amounts shown for Active Buyers, Accounts with Last Twelve-Months Spend of at Least $50,000 and Percentage of Revenue from Existing Accounts is presented for the quarters ended March 31, 2025 and 2024.


Financial Guidance and Outlook:

  Q2 2025 
  (in millions) 
  Low  High 
Revenue $155  $157 
  • For Q2 2025, expect revenue of $155-$157 million, representing 17-18% growth year-over-year.
  • For Q2 2025, expect Adjusted EBITDA of approximately $1.0-2.0 million, an improvement from an Adjusted EBITDA loss of $2.6 million in Q2 2024.
  • For the full year 2025, we are raising our marketplace growth outlook from our previous guidance of at least 20% to at least 22% growth and expect supplier services revenue to be down approximately 5% year-over-year.
  • For FY 2025, expect to be Adjusted EBITDA positive for the full year.

Xometry’s second quarter 2025 and full year 2025 financial outlook is based on a number of assumptions that are subject to change and many of which are outside of its control. If actual results vary from these assumptions, Xometry’s expectations may change. There can be no assurance that Xometry will achieve these results.

Reconciliation of Adjusted EBITDA on a forward-looking basis to net loss, the most directly comparable GAAP measure, is not available without unreasonable efforts due to the high variability and complexity and low visibility with respect to certain charges excluded from this non-GAAP measure, including interest and dividend income, benefit for income taxes, charitable contributions of common stock and impairment of assets. Xometry expects the variability of these items could have a significant, and potentially unpredictable, impact on its future GAAP financial results.  

Use of Non-GAAP Financial Measures
To supplement its consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”), Xometry, Inc. (“Xometry”, the “Company”, “we” or “our”) uses Adjusted EBITDA, non-GAAP net income (loss) and non-GAAP Earnings Per Share basic and diluted, which are considered non-GAAP financial measures, as described below. These non-GAAP financial measures are presented to enhance the user’s overall understanding of Xometry’s financial performance and should not be considered a substitute for, nor superior to, the financial information prepared and presented in accordance with GAAP. The non-GAAP financial measures presented in this release, together with the GAAP financial results, are the primary measures used by the Company’s management and board of directors to understand and evaluate the Company’s financial performance and operating trends, including period-to-period comparisons, because they exclude certain expenses and gains that management believes are not indicative of the Company’s core operating results. Management also uses these measures to prepare and update the Company’s short and long term financial and operational plans, to evaluate investment decisions, and in its discussions with investors, commercial bankers, equity research analysts and other users of the Company’s financial statements. Accordingly, the Company believes that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating the Company’s operating results in the same manner as the Company’s management and in comparing operating results across periods and to those of Xometry’s peer companies. In addition, from time to time we may present adjusted information (for example, revenue growth) to exclude the impact of certain gains, losses or other changes that affect period-to-period comparability of our operating performance.

The use of non-GAAP financial measures has certain limitations because they do not reflect all items of income and expense, or cash flows, that affect the Company’s financial performance and operations. Additionally, non-GAAP financial measures do not have standardized meanings, and therefore other companies, including peer companies, may use the same or similarly named measures but exclude or include different items or use different computations. Management compensates for these limitations by reconciling these non-GAAP financial measures to their most comparable GAAP financial measures in the tables captioned “Reconciliations of Non-GAAP Financial Measures” included at the end of this release. Investors and others are encouraged to review the Company’s financial information in its entirety and not rely on a single financial measure.

Key Terms for our Key Metrics and Non-GAAP Financial Measures

Marketplace revenue: includes the sale of parts and assemblies on our platform.

Supplier service revenue: includes the sales of marketing and advertising services and, to a lesser extent, financial service products and SaaS-based solutions.

Active Buyers: The Company defines “buyers” as individuals who have placed an order to purchase on-demand parts or assemblies on our marketplace. The Company defines Active Buyers as the number of buyers who have made at least one purchase on our marketplace during the last twelve months.

Active Suppliers: The Company defines “suppliers” as individuals or businesses that have been approved by us to either manufacture a product on our platform for a buyer or have utilized our supplier services, including our digital marketing services, data services, financial services or tools and materials. The Company defines Active Suppliers as suppliers that have used our platform at least once during the last twelve months to manufacture a product.

Percentage of Revenue from Existing Accounts: The Company defines an “account” as an individual entity, such as a sole proprietor with a single buyer or corporate entities with multiple buyers, having purchased at least one part on our marketplace. The Company defines an existing account as an account where at least one buyer has made a purchase on our marketplace.

Accounts with Last Twelve-Month Spend of At Least $50,000: The Company defines Accounts with Last Twelve-Month Spend of At Least $50,000 as an account that has spent at least $50,000 on our marketplace in the most recent twelve-month period.

Adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA): The Company defines Adjusted EBITDA as net loss, adjusted for interest expense, interest and dividend income and other expenses, and certain other non-cash or non-recurring items impacting net loss from time to time, principally comprised of depreciation and amortization, amortization of lease intangible, stock-based compensation, payroll tax expense related to stock-based compensation, lease termination, charitable contributions of common stock, income from unconsolidated joint venture, restructuring charges and acquisition and other adjustments not reflective of the Company’s ongoing business, such as adjustments related to purchase accounting, the revaluation of contingent consideration, transaction costs and executive severance.

Non-GAAP net income (loss): The Company defines non-GAAP net income (loss) as net loss adjusted for depreciation and amortization, stock-based compensation, payroll tax expense related to stock-based compensation, amortization of lease intangible, amortization of deferred costs on convertible notes, charitable contributions of common stock, lease termination, restructuring charges and acquisition and other adjustments not reflective of the Company’s ongoing business, such as adjustments related to purchase accounting, the revaluation of contingent consideration, transaction costs and executive severance.

Non-GAAP Earnings Per Share, basic and diluted (Non-GAAP EPS, basic and diluted): The Company calculates non-GAAP earnings per share, basic and diluted as non-GAAP net income (loss) divided by weighted average number of basic or dilutive shares of common stock outstanding.

Management believes that the exclusion of certain expenses and gains in calculating Adjusted EBITDA, non-GAAP net income (loss) and non-GAAP EPS, basic and diluted, provides a useful measure for period-to-period comparisons of the Company’s underlying core revenue and operating costs that is focused more closely on the current costs necessary to operate the Company’s businesses and reflects its ongoing business in a manner that allows for meaningful analysis of trends. Management also believes that excluding certain non-cash charges can be useful because the amount of such expenses is the result of long-term investment decisions made in previous periods rather than day-to-day operating decisions.

About Xometry
Xometry’s (NASDAQ: XMTRAI-powered marketplace, popular Thomasnet® industrial sourcing platform and suite of cloud-based services are rapidly digitizing the manufacturing industry. Xometry provides manufacturers the critical resources they need to grow their business and makes it easy for buyers to get the instant pricing and lead times to create locally resilient supply chains. The Xometry Instant Quoting Engine® leverages millions of data to analyze complex parts in real time, matches buyers with the right suppliers globally, and provides accurate pricing and lead times. Learn more at www.xometry.com or follow @Xometry.

Conference Call and Webcast Information
The Company will host a conference call and webcast to discuss the results at 8:30 a.m. ET (5:30 a.m. PT) on May 6, 2025. In addition to its press release announcing its first quarter 2025 financial results, Xometry will release an earnings presentation, which will be available on its investor website at investors.xometry.com.

Xometry, Inc. First Quarter 2025 Earnings Presentation and Conference Call

Cautionary Information Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “would,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements in this press release include, but are not limited to, our beliefs regarding our financial position and operating performance, including our outlook and guidance for the second quarter of 2025 and the full year 2025; our expectations regarding our growth; and statements regarding our strategies, initiatives, products and platform capabilities. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks and uncertainties related to: competition, managing our growth, financial performance, our ability to forecast our performance due to our limited operating history, investments in new products or offerings, our ability to attract buyers and sellers to our marketplace, legal proceedings and regulatory matters and developments, any future changes to our business or our financial or operating model, our brand and reputation, and the impact of fluctuations in general macroeconomic conditions, such as fluctuations in inflation and rising interest rates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties that could cause actual results to differ from the results predicted, including those more fully described in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2024, our Quarterly Reports on Form 10-Q, and other filings and reports that we may file from time to time with the SEC. All forward-looking statements in this press release are based on information available to Xometry and assumptions and beliefs as of the date hereof, and we disclaim any obligation to update any forward-looking statements, except as required by law. 

Investor Contact: Media Contact:
Shawn Milne
VP Investor Relations
240-335-8132
shawn.milne@xometry.com
Matthew Hutchison
Global Corporate Communications
415-583-2119
matthew.hutchison@xometry.com
  


Xometry, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share and per share data)
(Unaudited)
       
  March 31,  December 31, 
  2025  2024 
Assets      
Current assets:      
Cash and cash equivalents $15,507  $22,232 
Marketable securities  215,874   217,603 
Accounts receivable, less allowance for credit losses of $5.1 million and $4.9 million as of March 31, 2025 and December 31, 2024  85,529   73,962 
Inventory  4,032   3,915 
Prepaid expenses  6,487   4,954 
Other current assets  7,189   4,874 
Total current assets  334,618   327,540 
Property and equipment, net  47,244   44,825 
Operating lease right-of-use assets  7,231   8,462 
Investment in unconsolidated joint venture  4,071   4,065 
Intangible assets, net  31,244   32,139 
Goodwill  263,009   262,686 
Other assets  2,693   412 
Total assets $690,110  $680,129 
Liabilities and stockholders’ equity      
Current liabilities:      
Accounts payable and accrued cost of revenue $50,218  $35,023 
Other accrued expenses  23,122   24,401 
Contract liabilities  9,908   7,948 
Income taxes payable  887   979 
Operating lease liabilities, current portion  5,293   6,436 
Total current liabilities  89,428   74,787 
Convertible notes  284,093   283,628 
Operating lease liabilities, net of current portion  4,523   5,072 
Deferred income taxes  229   229 
Other liabilities  804   817 
Total liabilities  379,077   364,533 
Commitments and contingencies      
Stockholders’ equity      
Preferred stock, $0.000001 par value. Authorized; 50,000,000 shares; zero shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively      
Class A Common stock, $0.000001 par value. Authorized; 750,000,000 shares; 48,992,113 shares and 48,289,274 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively      
Class B Common stock, $0.000001 par value. Authorized; 5,000,000 shares; 1,475,311 shares issued and outstanding as of March 31, 2025 and December 31, 2024      
Additional paid-in capital  694,047   685,054 
Accumulated other comprehensive income (loss)  1,205   (328)
Accumulated deficit  (385,351)  (370,273)
Total stockholders’ equity  309,901   314,453 
Noncontrolling interest  1,132   1,143 
Total equity  311,033   315,596 
Total liabilities and stockholders’ equity $690,110  $680,129 
       


Xometry, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share amounts)
(Unaudited)
 
    
  Three Months Ended
March 31,
 
  2025  2024 
    
Revenue $150,971  $122,690 
Cost of revenue  94,640   74,788 
Gross profit  56,331   47,902 
Sales and marketing  26,435   27,200 
Operations and support  17,090   14,047 
Product development  11,171   9,590 
General and administrative  17,026   14,922 
Total operating expenses  71,722   65,759 
Loss from operations  (15,391)  (17,857)
Other income (expenses)      
Interest expense  (1,188)  (1,189)
Interest and dividend income  2,277   2,732 
Other expenses  (880)  (387)
Income from unconsolidated joint venture  106   97 
Total other income  315   1,253 
Loss before income taxes  (15,076)  (16,604)
Benefit (provision) for income taxes  -   - 
Net loss  (15,076)  (16,604)
Net income attributable to noncontrolling interest  2   12 
Net loss attributable to common stockholders $(15,078) $(16,616)
Net loss per share, basic and diluted, of Class A and Class B common stock $(0.30) $(0.34)
Weighted-average number of shares outstanding used to compute net loss per share, basic and diluted, of Class A and Class B common stock  50,335,053   48,577,980 
       
Net loss $(15,076) $(16,604)
Comprehensive loss:      
Foreign currency translation  1,520   (457)
Total other comprehensive income (loss)  1,520   (457)
Comprehensive loss  (13,556)  (17,061)
Comprehensive (loss) income attributable to noncontrolling interest  (11)  29 
Total comprehensive loss attributable to common stockholders $(13,545) $(17,090)
         


Xometry, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
    
  Three Months Ended March 31, 
  2025  2024 
Cash flows from operating activities:      
Net loss $(15,076) $(16,604)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization  4,246   3,153 
Reduction in carrying amount of right-of-use asset  1,100   1,096 
Lease termination  (30)  - 
Stock-based compensation  7,342   6,036 
Revaluation of contingent consideration     137 
Income from unconsolidated joint venture  (90)  (97)
Donation of common stock  516   343 
Amortization of deferred costs on convertible notes  465   464 
Changes in other assets and liabilities:      
Accounts receivable, net  (13,358)  532 
Inventory  (41)  (40)
Prepaid expenses  (1,519)  (433)
Other assets  (1,995)  (442)
Accounts payable and accrued cost of revenue  15,048   (10,649)
Other accrued expenses  (540)  4,440 
Contract liabilities  1,877   2,277 
Lease liabilities  (1,531)  (1,671)
Other liabilities  (13)   
Income taxes payable  (92)  (276)
Net cash used in operating activities  (3,691)  (11,734)
Cash flows from investing activities:      
Purchases of marketable securities  (2,271)  (2,726)
Proceeds from sale of marketable securities  4,000   10,000 
Purchases of property and equipment  (5,499)  (4,347)
Distributions in excess of earnings  84    
Net cash (used in) provided by investing activities  (3,686)  2,927 
Cash flows from financing activities:      
Proceeds from stock options exercised  510   1,233 
Net cash provided by financing activities  510   1,233 
Effect of foreign currency translation on cash and cash equivalents  142   (149)
Net decrease in cash and cash equivalents  (6,725)  (7,723)
Cash and cash equivalents at beginning of the period  22,232   53,424 
Cash and cash equivalents at end of the period $15,507  $45,701 
Supplemental cash flow information:      
Cash paid for interest $1,438  $1,438 
Non-cash investing and financing activities:      
Non-cash consideration in connection with business combination  625    
         


Xometry, Inc. and Subsidiaries
Reconciliations of Non-GAAP Financial Measures
(In thousands, except share and per share amounts)
(Unaudited)
    
  For the Three Months
Ended March 31,
 
  2025  2024 
Adjusted EBITDA:      
Net loss $(15,076) $(16,604)
Add (deduct):      
Interest expense, interest and dividend income and other expenses  (179)  (1,156)
Depreciation and amortization(1)  4,246   3,153 
Amortization of lease intangible  180   180 
Stock-based compensation(2)  7,342   6,036 
Payroll tax expense related to stock-based compensation(3)  1,473    
Lease termination(4)  (30)   
Acquisition and other(5)  251   686 
Charitable contribution of common stock  516   343 
Income from unconsolidated joint venture  (106)  (97)
Restructuring charges(6)  1,461    
Adjusted EBITDA $78  $(7,459)


  For the Three Months
Ended March 31,
 
  2025  2024 
Non-GAAP Net Income (Loss):      
Net loss $(15,076) $(16,604)
Add (deduct):      
Depreciation and amortization(1)  4,246   3,153 
Stock-based compensation (2)  7,342   6,036 
Payroll tax expense related to stock-based compensation(3)  1,473    
Amortization of lease intangible  180   180 
Amortization of deferred costs on convertible notes  465   464 
Acquisition and other(5)  251   686 
Charitable contribution of common stock  516   343 
Lease termination(4)  (30)   
Restructuring charges(6)  1,461    
Non-GAAP Net Income (Loss) $828  $(5,742)
Weighted-average number of shares outstanding used to compute Non-GAAP Net Income (Loss) per share, basic and diluted, of Class A and Class B common stock  50,335,053   48,577,980 
Non-GAAP weighted-average effect of potentially dilutive Class A common stock  2,425,190   - 
Non-GAAP weighted-average shares used to compute Non-GAAP Net Income (Loss) per share, diluted  52,760,243   48,577,980 
       
EPS, basic and diluted, of Class A and Class B common stock $(0.30) $(0.34)
Non-GAAP EPS basic and diluted, of Class A and Class B common stock $0.02  $(0.12)


(1)Represents depreciation expense of the Company’s long-lived tangible assets and amortization expense of its finite-lived intangible assets, as included in the Company’s GAAP results of operations.
(2)Represents the non-cash expense related to stock-based awards granted to employees, as included in the Company’s GAAP results of operations.
(3)In the second quarter of 2024, we changed the definition of Adjusted EBITDA and Non-GAAP Net Income (Loss) to exclude payroll tax expense related to stock-based compensation. For prior periods, this amount was considered de minimis and, accordingly, we have not adjusted the Adjusted EBITDA or Non-GAAP Net Income (Loss) amounts for such periods.
(4)Amount is recorded in general and administrative.
(5)
Includes adjustments related to purchase accounting, the revaluation of contingent consideration, transaction costs and executive severance.
(6)Costs associated with the Q1 2025 reduction in workforce.


Xometry, Inc. and Subsidiaries
Reconciliation of GAAP EPS to Non-GAAP EPS
(Unaudited)
    
  For the Three Months
Ended March 31,
 
  2025  2024 
Non-GAAP EPS:      
GAAP EPS, diluted, of Class A and Class B common stock $(0.30) $(0.34)
Non-GAAP effect of potentially dilutive Class A common stock  0.01    
Add (deduct):      
Depreciation and amortization  0.09   0.06 
Stock-based compensation  0.14   0.12 
Payroll tax expense related to stock-based compensation  0.03    
Amortization of lease intangible      
Amortization of deferred costs on convertible notes  0.01   0.01 
Acquisition and other     0.02 
Charitable contribution of common stock  0.01   0.01 
Lease termination      
Restructuring charges  0.03    
Non-GAAP EPS, diluted, of Class A and Class B common stock $0.02  $(0.12)
       




Xometry, Inc. and Subsidiaries
Segment Results
(In thousands)
(Unaudited)
    
  For the Three Months Ended March 31, 
  2025  2024 
Segment Revenue:   
U.S. $127,820  $103,363 
International  23,151   19,327 
Total revenue $150,971  $122,690 
       
Segment Cost of Revenue:   
U.S. $79,940  $62,930 
International  14,700   11,858 
Total cost of revenue $94,640  $74,788 
       
Segment Adjusted EBITDA:      
U.S. $3,010  $(5,481)
International  (2,932)  (1,978)
Total Adjusted EBITDA $78  $(7,459)
         





Xometry, Inc. and Subsidiaries
Supplemental Information
(In thousands)
(Unaudited)
    
  For the Three Months
Ended March 31,
 
  2025  2024 
Summary of Stock-based Compensation Expense and Payroll Taxes Related to Stock-based Compensation Expense   
Sales and marketing $2,382  $1,520 
Operations and support  2,978   2,092 
Product development  2,016   1,416 
General and administrative  1,439   1,008 
Total stock-based compensation expense and payroll taxes related to stock-based compensation $8,815  $6,036 
       
Summary of Depreciation and Amortization Expense      
Cost of revenue $182  $185 
Sales and marketing  794   797 
Operations and support  39   36 
Product development  2,993   1,913 
General and administrative  238   222 
Total depreciation and amortization expense $4,246  $3,153 
       
Summary of Restructuring Charges      
Sales and marketing $85  $- 
Operations and support  689   - 
Product development  534   - 
General and administrative  153   - 
Total restructuring charges $1,461  $- 

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