Xometry reports record Q2 2025 revenue of $163 million (+23%)

Global digital manufacturing marketplace Xometry achieved record financial results in Q2 2025, positioning itself for sustained long-term growth. The company reported a 23% year-over-year revenue increase to $163 million, led by a 26% rise in marketplace revenue to $148 million. This growth was underpinned by enterprise adoption, technological innovation, and an expanding network of buyers and suppliers.

“We delivered strong performance across the board this quarter,” said Randy Altschuler, CEO at Xometry. “The record results reflect investments we’ve made in platform innovation, enterprise initiatives and network expansion – key drivers that position Xometry for sustainable, long-term growth. We expect continued growth momentum as we gain share in our large, fragmented market.”

The company’s gross profit also reached a record $65.2 million, representing 40.1% of revenue. Marketplace gross margin stood at a strong 35.4%, demonstrating operational efficiency. Notably, Xometry achieved a significant milestone in profitability, reporting an adjusted EBITDA of $3.9 million—a $6.6 million improvement over the same period last year. These gains reflect both improved operating leverage and an increase in high-margin enterprise activity across the platform.

Despite a net loss of $26.4 million, primarily due to a non-recurring $16.4 million loss on debt extinguishment, the company’s financial foundation remains solid. As of June 30, 2025, Xometry held $226 million in cash, cash equivalents, and marketable securities. The recent completion of a $250 million convertible note refinancing transaction extended debt maturity and offered financial flexibility for future investments, including a capped call hedge with a 75% premium over market value—further highlighting confidence in long-term equity performance.

Xometry’s ecosystem continues to thrive as the marketplace attracts more buyers and suppliers. Active marketplace buyers rose 22% year-over-year to 74,777, while accounts with last twelve-month (LTM) spending of at least $50,000 grew 15% to 1,653. This acceleration in enterprise engagement reflects the effectiveness of Xometry’s platform innovations, including the launch of Teamspace in Europe, the UK, and Turkey. Teamspace is a cloud-based collaboration tool that allows enterprise teams to manage custom part orders with greater efficiency, driving deeper usage within organizations.

The record results reflect investments we’ve made in platform innovation, enterprise initiatives and network expansion – key drivers that position Xometry for sustainable, long-term growth.Randy Altschuler, CEO at Xometry

New integration capabilities now allow enterprise customers to order directly through their existing procurement systems while still accessing Xometry’s full range of services. This automation enhances accuracy, reduces lead times, and increases operational productivity, ultimately improving the overall buyer experience.

On the supplier side, Thomasnet—a Xometry company—partnered with NSF, a global leader in public health and safety certification. This collaboration enables manufacturers listed on Thomasnet to obtain highly recognized certifications, thereby increasing their visibility and credibility within the industry. NSF will also promote Thomasnet as a premier platform for industrial sourcing, reinforcing Xometry’s position as a trusted intermediary in the manufacturing space.

Xometry also unveiled an AI-powered tool that enables instant quoting from technical drawings in North America. This innovation enhances the speed and precision of supplier matching and quoting, marking another leap forward in the company’s automation efforts.

Leadership expressed strong confidence in the business’s trajectory. Echoing CEO Randy Altschuler’s positive outlook, CFO James Miln reiterated Xometry’s path to scaling toward $1 billion in revenue while maintaining profitability, highlighting how continued marketplace margin growth and cost control are fueling earnings improvements.

With its strong financial standing, advanced technology, and expanding global presence, Xometry is well-positioned to continue gaining market share in the large, fragmented manufacturing sector.