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Jun 30, 2025
Xometry Q2 2025 Earnings Report
Xometry reported record second quarter 2025 results, with revenue increasing 23% year-over-year driven by robust marketplace growth.
Key Takeaways
Xometry delivered strong performance in Q2 2025, achieving record revenue and gross profit. The company saw significant marketplace gross margin expansion and strong operating leverage, leading to a substantial improvement in Adjusted EBITDA and a positive Non-GAAP net income.
Total revenue increased 23% year-over-year to a record $163 million.
Gross profit grew 23% year-over-year to a record $65.2 million, representing 40.1% of revenue.
Adjusted EBITDA improved by $6.6 million year-over-year to a profit of $3.9 million.
Non-GAAP net income was $4.7 million, a significant improvement from a loss in the prior year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Xometry provided strong guidance for Q3 2025 and raised its full-year 2025 marketplace growth outlook, expecting continued revenue growth and improved profitability.
Positive Outlook
- Q3 2025 revenue expected to be $167-$169 million, representing 18-19% growth year-over-year.
- Q3 2025 Adjusted EBITDA expected to be $4.0-$5.0 million, a significant improvement from a loss in Q3 2024.
- Full year 2025 marketplace growth outlook raised from at least 22% to 23-24%.
- Expect to deliver improving profitability even with continued investment in growth initiatives.
- Expect incremental Adjusted EBITDA margin of approximately 21% on a year-over-year basis for FY 2025.
Challenges Ahead
- Supplier services revenue is expected to be down approximately 5% year-over-year for FY 2025.
- Financial outlook is based on assumptions subject to change and outside of the company's control.
- Reconciliation of Adjusted EBITDA on a forward-looking basis to net loss is not available without unreasonable efforts due to high variability and complexity of certain charges.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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