Xometry, Inc. (NASDAQ: XMTR) reported fourth‑quarter revenue of $192.4 million, a 30% year‑over‑year increase from $149 million in Q4 2024. Full‑year revenue reached $686.6 million, up 26% from $545.5 million in 2024, underscoring the company’s continued top‑line momentum.
Adjusted EBITDA climbed to $8.4 million, up $7.3 million from the prior year, and the company posted an adjusted earnings per share of $0.16, beating the consensus estimate of $0.12 by $0.04 (a 24% beat). The earnings beat was driven by disciplined cost management and a favorable mix shift toward higher‑margin marketplace transactions.
Marketplace revenue accounted for $178.5 million of the quarter’s top line, while services revenue was $13.9 million. Marketplace gross margin expanded to 35.7%, up 210 basis points YoY, reflecting pricing power and operational leverage as the platform scales.
Management guidance for the first quarter of 2026 projects revenue of $187–$189 million, representing 24–25% year‑over‑year growth, and adjusted EBITDA of $6.5–$7.5 million. For the full year 2026, Xometry expects at least 21% revenue growth and incremental adjusted EBITDA margins of at least 20%, signaling confidence in sustained profitability while remaining mindful of macro‑economic uncertainty.
CEO Randy Altschuler said, “Q4 was another record quarter, capping a transformative year for Xometry as enterprise customers rapidly adopted our supply chain solutions.” CFO James Miln added, “Our Adjusted EBITDA improved by $7.3 million year‑over‑year to $8.4 million. In 2025, we delivered incremental Adjusted EBITDA margins of 20%, reflecting the strong leverage in our marketplace model.”
The results illustrate Xometry’s successful execution of its AI‑powered marketplace strategy, delivering both revenue growth and margin expansion. The company’s ability to convert enterprise demand into higher‑margin transactions, coupled with disciplined cost control, underpins the earnings beat and supports the optimistic outlook for 2026.
The earnings beat and guidance reinforce Xometry’s trajectory toward profitability and a $1 billion revenue milestone, while the company remains cautious about macro‑economic headwinds that could affect demand in the near term.
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