Xometry : Q1 2026 Earnings Presentation

Published: 2026-05-07 07:43:27 ET XMTR

Published on 05/07/2026 at 07:43 am EDT

Le6difig the Future of M6fiuf6cturifig

Q1 2026 Earnings Presentation May 7, 2026

$205M

$78.5M

$10.5M

85K+

~5K

Q1 2026

Revefiue

→ Q1 2026

Revenue increased

+36% YoY

→ Q1 2026

Marketplace growth +40% YoY

Q1 2026

Gross Profit

→ Q1 2026 Gross Profit +39% YoY

→ Q1 2026

Marketplace

Gross Profit

+53% YoY

Q1 2026

Adj. EBITDA

→ Q1 2026 Adj.

EBITDA $10.5M

→ Q1 2026 Adj.

EBITDA

+$10.4M YoY

Q1 2026 Active

Buyers1

→ Large, rapidly growing, diverse Buyers

→ Active Buyers

+20% YoY

FY 2025 Active

Suppliers2

→ Leading global Supplier network

→ Active Suppliers +17% YoY3

Active Buyers defined as the number of Buyers who have made at least one purchase on Xometry's marketplace during the last twelve months.

Active Suppliers defined as the Suppliers that have used Xometry's platform at least once during the last twelve months to manufacture a product.

In 2025, we adjusted the number of our 2024 Active Suppliers to reflect an immaterial correction.

Q1 2026 Results 6fid Fifi6fici6l Highlights

Strofig Q1 2026 Fifi6fici6l Perform6fice

Record revenue of $205M +36% YoY driven by 40% Marketplace revenue growth.

Record gross profit of $78.5M +39% YoY driven by 53% Marketplace gross profit growth.

Strong Marketplace gross margin of 34.7% +290 bps YoY powered by AI pricing & selection.

High Services gross margin of 87.1% via Thomas core advertising.

Expanding Adj. EBITDA margin, strong YoY operating leverage Q1 Adj EBITDA of $10.5M +$10.4M YoY.

Progress ofi Key Growth Ifiiti6tives

Expanding networks of Buyers and Suppliers Active Buyers +20% YoY in Q1 driven by broad based adoption and significant market share gains. Active Suppliers +17% YoY1 in 2025 driven by larger suppliers with expanded certifications.

Driving deeper enterprise engagement as Accounts with LTM spend >$500K > 140 in FY25 and revenue growth of >40% YoY in Q1 2026.

International growth +42% YoY, driven by Europe and expanding Asia Pacific.

Expanding marketplace platforms Launch of new lead time prediction model and enhanced personalized pricing. Further improved U.S. injection molding offering with new materials and finishing.

Modernizing Thomas advertising model to improve monetization and advertiser penetration. Launched dynamic ad serving technology and Smart Search.

Fifi6fici6l Highlights

Strong durable growth outlook given significant global TAM and low penetration rates.

Increasing market share through key growth initiatives.

Increasing marketplace gross margin on an annual basis, driving faster gross profit dollar growth.

Targeting 20% Incremental Adj. EBITDA margins as we scale to $1B.

Improving cash flow conversion with asset light marketplace model, low CAPEX and limited working capital requirements.

1. In 2025, we adjusted the number of our 2024 Active Suppliers to reflect an immaterial correction.

Xometry Efiters Groufidbre6kifig Str6tegic P6rtfiership with Siemefis

Embedding Xometry's AI-native platform into the world's leading industrial software ecosystem

Desigfi to Delivery ifi 6 Sifigle Workflow

Xometry's pricing, manufacturability and sourcing intelligence embedded natively inside Xcelerator gives engineers real-time feedback where design decisions are made - with orders placed and tracked through to delivery.

Ofily possible 6t this sc6le with Xometry 6fid Siemefis.

⬡

Xometry Re6ches Siemefis' Glob6l Efigifieers

Bro6der BOM Cover6ge Across More C6tegories

Siemens' enterprise-grade software and global go-to-market reach gives Xometry immediate access to a global customer base of engineers across commercial markets worldwide.

Supplyframe (electronic components) + Thomas (standard parts) + Xometry Marketplace (custom parts) - source more of the Bill of Materials in one integrated workflow.

$50M - Siemefis' purchase of Xometry Cl6ss A Commofi Stock

Xometry Str6tegic P6rtfiership with Siemefis to Further Drive Growth Ifiiti6tives

Embedding Xometry's AI-native platform into the world's leading industrial software ecosystem

Exp6fidifig AI-N6tive M6rketpl6ce

Everything Ecosystem

Natively integrating proprietary IQE delivers DFM, pricing & sourcing intelligence

in real time to Siemens DesigncenterTM

Exp6fidifig Glob6l

Network

& D6t6 Flywheel

Scale Is the Moat

Siemens global reach further expands the number of Xometry Active Buyers and enriches proprietary AI pricing & data set

Deepefis Efiterprise Efig6gemefit

Land-and-Expand Strategy

Embedding Xometry marketplace intelligence directly within Siemens Xcelerator to further drive Enterprise growth

Lever6gifig

Thom6s Services

Leveraging Thomas Industrial Sourcing

Siemens Supplyframe sourcing platform provides new reach for Thomasnet

Profit6ble

Growth Efigifie

Disciplined Capital Allocation

Leveraging Siemens reach will further drive our 20% incremental Adj. EBITDA margin target

Afifiu6l Revefiue

$ in millions

Qu6rterly Revefiue

$ in millions

$463

$546

$687

$191

$136

$151

$205

$630

$486

$395

FY 2023 FY 2024 FY 2025 Q1 2025 Q1 2026

→ $687M FY25 Total Revenue, +26% YoY

→ $630M FY25 Marketplace Revenue,

+30% YoY

→ $205M Q1 2026 Total Revenue,

+36% YoY

→ $191M Q1 2026 Marketplace Revenue, +40% YoY

Marketplace Services

Sigfiific6fit Growth 6t Sc6le

Marketplace growth has been driven by efficiently matching Supplier capacity with Buyer demand

+20% YoY

+17% YoY

81,821

85,581

68,267

71,454

55,325

4,996

4,276

3,429

FY 2023 FY 2024 FY 2025 Q1 2025 Q1 2026 FY 2023 FY 2024 FY 2025

Active Buyers defined as the number of Buyers who have made at least one purchase on Xometry's marketplace during the last twelve months.

Active Suppliers defined as the Suppliers that have used Xometry's platform at least once during the last twelve months to manufacture a product.

In 2025, we adjusted the number of our 2024 Active Suppliers to reflect an immaterial correction.

R6pidly Growifig Ifiterfi6tiofi6l Revefiue

→ Q1 International revenue growth of 42% YoY.

→ Long-term target is for International to represent 30-40% of Marketplace revenue.

EUROPE

EU HQ:

Munich, Germany

ASIA

ASIA HQ:

Shanghai, China

18 Languages

6 Currencies

International Expansion and Increasing Percentage of Marketplace Revenue

22002200

2 6

U.S. 98%

U.S. 83%

International 2%

International 17%

Accounts with LTM Spend of $50K or More1

+21% YoY

Revenue from Existing Xometry Accounts2

1,760

1,864

1,495

1,545

1,331

96%

97%

98%

FY 2023 FY 2024 FY 2025 Q1 2025 Q1 2026 FY 2023 FY 2024 FY 2025 Q1 2025 Q1 2026

→ Growth in Marketplace Accounts with LTM spend of at least $50K reflects emerging Enterprise Account opportunity.

→ Reliable land and expand Buyer dynamics drive the high percentage of revenue from existing Buyers.

Accounts with Last Twelve-Month, or LTM, Spend of at Least $50,000 defined as an account that has spent at least $50,000

on Xometry's marketplace during the last twelve months.

Existing Accounts defined as an account where at least one Buyer has made a purchase on Xometry's marketplace.

Exp6fidifig W6llet Sh6re, Sticky Buyer B6se

$ in millions

Afifiu6l Gross Profit 6fid M6rgifi

Qu6rterly Gross Profit 6fid M6rgifi

$178

$216

$269

$66.4

$43.3

+53% YoY

Marketplace Gross Profit

$56.3

$78.5

2023

2024

2025

1Q25

1Q26

M6rketpl6ce

30.8%

33.5%

34.7%

M6rketpl6ce

31.8%

34.7%

Services1

82.7%

89.0%

88.6%

Services1

89.1%

87.1%

Tot6l

38.5%

39.5%

39.1%

Tot6l

37.3%

38.3%

$218

$163

$121

+34% YoY

Marketplace Gross Profit

1. Previously referred to as "Supplier Services."

Active Buyers1

85,581

Net Active Buyer Adds

3,505

3,539

3,187

3,323

3,760

Advertisifig % of

M6rketpl6ce Revefiue

81,821

78,282

74,777

71,454

5.6%

5.2%

4.5%

5.0%

3.9%

1Q25 2Q25 3Q25 4Q25 1Q26

→ Q1 2026 Active Buyers

+20% YoY

→ Q1 2026 Net Buyer Adds of 3,760

→ Advertising spend down 60 bps YoY to 3.9%

1. Active Buyers defined as the number of Buyers who have made at least one purchase on Xometry's marketplace during the last twelve months.

Non-GAAP Expenses as % of Revenue

Tot6l Nofi-GAAP Oper6tifig Expefises

S6les 6fid M6rketifig1,3

Oper6tiofis 6fid Support1,3

Product Developmefit1,3

G&A1,2

41.5%

36.5% 37.3%

33.2%

44.6%

15.8% 15.3%

14.2%

18.4% 17.8%

9.5%

9.0%

8.5% 8.9%

8.2%

5.0% 11.7%

4.5%

3.4%

3.7%

3.3%

10.2%

8.8%

9.4%

7.5%

FY23 FY24 FY25 1Q25 1Q26

Excludes stock-based compensation, payroll taxes related to stock-based compensation, depreciation, amortization, and restructure charges.

Excludes charitable contributions, amortization of in-place lease assets, lease abandonments, executive severance and acquisition and other adjustments.

Excludes costs to exit the tools and materials business

Note: See the appendix for reconciliation to the nearest GAAP measures.

$ in millions

$687

$546

$463

$151

$205

FY23 FY24 FY25 1Q25 1Q26

$18.5

$10.5

$0.1

$(9.7)

FY23 FY24 FY25 1Q25 1Q26

$(27.5)

FY24

FY25

Q1 2026

Adj. EBITDA ∆ /

Revenue ∆

~22%

~20%

~19%

Note: See the appendix for reconciliation to the nearest GAAP measures.

Financial

Drivers

→ Consistently delivered 20%+ incremental Adjusted EBITDA margin 2023-2025.

→ As we scale to $1B in revenue, expect incremental Adj EBITDA margin of at least 20%.

→ Asset light model.

→ Expect strong cash flow conversion from Adj. EBITDA.

Q2 2026

→ For Q2 2026, expect revenue of

$214-$216 million, representing 32-33% growth year-over-year driven by 35-36% marketplace growth.

→ For Q2 2026, expect Adj. EBITDA1 of $11-$12 million, an improvement from Adjusted EBITDA of $3.9 million in Q2 2025.

FY 2026

→ For FY 2026, we are raising our revenue growth outlook from previous guidance of at least 21% to 27-28% driven by ~30% marketplace growth.

→ For FY 2026, we expect incremental Adjusted EBITDA margins of at least 20%.

1. 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.

FY 2023 FY 2024 FY 2025 Q1 2025 Q1 2026

$ in thousands

Revenue

$ 463,406

$ 545,529

$ 686,631

$ 150,971

$ 205,138

Adjusted EBITDA:

Net loss

$ (67,465)

$ (50,403)

$ (61,748)

$ (15,076)

$ (5,259)

Add (deduct):

Interest expense, interest and dividend income and other expenses (income)

(5,312)

(5,273)

16,047

(209)

(63)

Depreciation and amortization(1)

10,738

13,012

18,750

4,246

4,931

Amortization of lease intangible

950

720

180

(Benefit from) provision for income taxes

(353)

(21)

589

248

Stock-based compensation(2)

22,118

29,322

36,362

7,342

8,327

Payroll taxes expense related to stock-based compensation(3)

965

2,465

1,473

1,605

Lease abandonment(4)

8,706

Acquisition and other(5)

824

686

1,164

251

Charitable contribution of common stock

1,029

1,686

3,272

516

826

Income from unconsolidated joint venture

(446)

(452)

(404)

(106)

(146)

Impairment of assets

397

Restructuring charges(6)

738

1,262

1,461

Costs to exit the tools and materials business

586

Adjusted EBITDA

$ (27,490)

$ (9,676)

$ 18,528

$ 78

$ 10,485

Percentage of revenue

-5.9%

-1.8%

2.7% 0.1% 5.1%

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.

Represents the non-cash expense related to stock-based awards granted to employees, as included in the Company's GAAP results of operations.

In the second quarter of 2024, we changed the definition of Adjusted EBITDA 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 amounts for such periods.

Amount is recorded in general and administrative.

Includes adjustments related to purchase accounting, the revaluation of contingent consideration, transaction costs, and executive severance.

Costs associated with a reduction in workforce.

$ in thousands

FY 2023

FY 2024

FY 2025

Q1 2025

Q1 2026

Revenue

$ 463,406

$ 545,529

$ 686,631

$ 150,971

$ 205,138

GAAP Expense - Sales and Marketing

$ 93,688

$ 108,437

$ 122,749

$ 26,435

$ 31,967

Add (deduct):

Depreciation and amortization(1)

(3,162)

(3,185)

(3,181)

(795)

Stock-based compensation(2)

(4,909)

(8,028)

(10,278)

(2,029)

(1,518)

Payroll tax expense related to stock-based compensation

(205)

(607)

(354)

(487)

Acquisition and other(3)

(214)

Restructuring charges(4)

(224)

(31)

(85)

Non-GAAP Sales and Marketing Expense

$ 85,179

$ 97,019

$ 108,652

$ 23,172

$ 29,167

Percentage of revenue

18.4%

17.8%

15.8%

15.3%

14.2%

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.

Represents the non-cash expense related to stock-based awards granted to employees, as included in the Company's GAAP results of operations.

Includes adjustments related to purchase accounting, the revaluation of contingent consideration, transaction costs, and executive severance.

Costs associated with a reduction in workforce.

$ in thousands

FY 2023

FY 2024

FY 2025

Q1 2025

Q1 2026

Revenue

$ 463,406

$ 545,529

$ 686,631

$ 150,971

$ 205,138

GAAP Expense - Operations and Support

$ 52,372

$ 58,975

$ 72,415

$ 17,090

$ 19,659

Add (deduct):

Depreciation and amortization(1)

(174)

(139)

(182)

(39)

(34)

Stock-based compensation(2)

(7,719)

(9,280)

(12,316)

(2,489)

(2,283)

Payroll tax expense related to stock-based compensation

(302)

(777)

(489)

(499)

Acquisition and other(3)

(362)

Restructuring charges(4)

(230)

(588)

(689)

Costs to exit the tools and materials business

(380)

Non-GAAP Operations and Support Expense

$ 43,869

$ 49,254

$ 58,190

$ 13,384

$ 16,843

Percentage of revenue

9.5%

9.0%

8.5%

8.9%

8.2%

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.

Represents the non-cash expense related to stock-based awards granted to employees, as included in the Company's GAAP results of operations.

Includes adjustments related to executive severance.

Costs associated with a reduction in workforce.

$ in thousands

FY 2023

FY 2024

FY 2025

Q1 2025

Q1 2026

Revenue

$ 463,406

$ 545,529

$ 686,631

$ 150,971

$ 205,138

GAAP Expense - Product Development

$ 34,462

$ 39,322

$ 46,792

$ 11,171

$ 11,428

Add (deduct):

Depreciation and amortization(1)

(5,974)

(8,078)

(13,508)

(2,992)

(3,589)

Stock-based compensation(2)

(5,345)

(6,583)

(8,307)

(1,669)

(996)

Payroll tax expense related to stock-based compensation

(298)

(671)

(347)

(155)

Acquisition and other(3)

(314)

Restructuring charges(4)

(117)

(470)

(534)

(2)

Non-GAAP Product Development Expense

$ 23,026

$ 24,363

$ 23,522

$ 5,629

$ 6,686

Percentage of revenue

5.0%

4.5%

3.4%

3.7%

3.3%

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.

Represents the non-cash expense related to stock-based awards granted to employees, as included in the Company's GAAP results of operations.

Includes adjustments related to executive severance.

Costs associated with a reduction in workforce.

Disclaimer

Xometry Inc. published this content on May 07, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 07, 2026 at 11:42 UTC.