Xometry, Inc., the global AI-powered marketplace connecting buyers and suppliers of custom manufacturing, announced third quarter 2025 financial results demonstrating significant expansion in key metrics. Xometry reports record growth with revenue of $181 million, up 28% year-over-year, driven by robust market performance and increasing enterprise adoption. The company achieved market revenue growth acceleration year-over-year to 31%, while gross profit increased 29% to $72.0 million and achieved a record market gross margin of 35.7%.
The North Bethesda, Maryland-based company reported a $6.8 million year-over-year improvement in adjusted EBITDA to $6.1 million, driven by growing market gross margin and strong operating expense leverage. The results were driven by the consistent implementation of strategic initiatives, including expanding the buyer and supplier network, deepening corporate engagement, international growth and improved supplier services.
Xometry Reports Record Growth Through Marketplace Expansion
The marketplace segment demonstrated exceptional performance with revenue of $167 million in Q3 2025, accelerating from prior quarters driven by strong adoption among enterprise customers. The number of active shoppers increased 21% year-over-year from 64,851 to 78,282, while the number of accounts with trailing 12-month spending over $50,000 increased 14% to 1,724 accounts. The 210 basis point increase in marketplace gross margin to 35.7% reflects improvement in operational efficiency and platform optimization.
“This was another record quarter for Xometry as enterprise customers rapidly adopt our supply chain solutions. In the third quarter, we achieved 31% year-over-year market revenue growth, underscoring the strength of our platform and strategic global network.”
– Randy Altschuler, CEO at Xometry
Key financial highlights for the third quarter of 2025:
- Total sales: $181 million (28% increase year over year)
- Marketplace sales: $167 million (31% increase year over year)
- Gross profit: $72.0 million (29% increase year over year)
- Marketplace gross margin: 35.7% (210 basis point improvement)
- Adjusted EBITDA: $6.1 million (up $6.8 million year-over-year)
- Non-GAAP Net Income: $6.2 million (vs. $1.1 million in Q3 2024)
- Cash and securities: 225 million dollars
James Miln, CFO of Xometry, highlighted the profitability trend: “In the third quarter, we delivered accelerated market revenue growth and a robust market gross margin, which increased 210 basis points year-over-year to 35.7%. Our adjusted EBITDA improved $6.8 million year-over-year to $6.1 million. We expect to achieve an additional annual adjusted EBITDA margin of 20% “We will achieve if we increase sales to $1 billion.”
Platform innovation and service expansion
Since its last earnings announcement, Xometry has introduced several significant platform improvements that strengthen its market position:
Mobile Workcenter Application: Introducing a proprietary all-in-one quote-to-cash solution that enables partners to source orders, manage operations, monitor performance and secure cash flow. The mobile app facilitates supplier management of job vacancies, production operations and shop performance while improving the flow of communication for important updates and job vacancies.
Automatic injection molding quotes: After launching in Europe, the auto-quote feature was expanded to the US market. The AI-powered platform manages the entire lifecycle from initial quote to delivery and reorder, supporting prototypes to high-volume production tooling with over 35 materials, colors and finishes.
Advanced DFM features: Advanced AI-powered design for manufacturing capabilities through an advanced automated extraction engine to interpret technical drawings and CAD files. The extension improves quote accuracy and supplier matching by automatically identifying manufacturing attributes, including materials, processes and tolerances.
European market expansion: Xometry EU has added over two dozen new materials, including bronze and acrylic variants, while expanding delivery options with express manufacturing for CNC, sheet metal and 3D printing. Introducing a parts library that simplifies customer management and reuse of part data across projects.
Expansion of the Thomas platform: Thomas launched a dynamic ad serving technology platform that enables advertisers to set budgets, define audiences, maximize effectiveness and improve ROI tracking through a pay-for-performance model.
Financial forecast and market outlook
Xometry has raised both its fourth quarter and full year 2025 financial guidance due to strong performance and continued momentum:
Forecast for the 4th quarter of 2025:
- Revenue: $182-184 million (23-24% YoY growth)
- Adjusted EBITDA: $6-7 million (vs. $1.0 million in Q4 2024)
Forecast for the full year 2025 (raised):
- Revenue: $676-678 million
- Adjusted EBITDA: $16-17 million
The supplier services segment generated revenue of $14.1 million in the third quarter of 2025, down 4% year-over-year as the company focuses resources on higher-margin market expansion. Net loss attributable to common shareholders was $11.6 million in the third quarter of 2025, while non-GAAP net income was $6.2 million, compared to $1.1 million in the third quarter of 2024.
Strategic positioning and corporate acceptance
The Company's performance reflects the successful execution of its strategy to position Xometry as the primary procurement platform for enterprise manufacturing. 98% revenue retention across existing accounts demonstrates high customer satisfaction and growing relationships with enterprise buyers. International operations continue to expand, although the international segment posted an adjusted EBITDA loss of $4.2 million as the company invests in market development.
Xometry's AI-powered marketplace uses proprietary technology to connect buyers with its global network of suppliers, providing real-time pricing and delivery time data while streamlining procurement processes. The platform's Thomas Industrial Sourcing component and cloud-based service suite continue to digitize traditional workflows in the manufacturing industry.
The Company has strong balance sheet flexibility with $225 million in cash, cash equivalents and marketable securities as of September 30, 2025, supporting continued investment in platform development and market expansion initiatives.
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