To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh. ...

Xometry, Inc. ( XMTR ) is very interesting to me as it is in the middle of manufacturing and technology. I have noted in previous articles that I think manufacturing is a place to invest. There is a growingAnalyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from See ...

Xometry ( XMTR ) reported strong results in Q3, with revenue growth accelerating meaningfully and losses continuing to narrow. While guidance suggests a growth moderation in Q4, I believe this is overly conservative and that growth will continue to pick up in the fourthRichard Durant is the leader of Narweena, an asset manager focused on finding market dislocations that are the result of a poor understanding of a businesses long-term prospects. Narweena believes that excess risk adjusted returns can be achi ...

Active Buyers and Revenue Growth - As of September 30, 2025, the number of Active Buyers reached 78,282, representing a 21% increase from 64,851 as of September 30, 2024[158]. - For the quarter ended September 30, 2025, 98% of revenue was generated from existing accounts, indicating strong account retention and revenue predictability[161]. - The number of accounts with Last Twelve-Month Spend of at least $50,000 increased by 14% to 1,724 as of September 30, 2025, up from 1,506 as of September 30, 2024[164]. - Total revenue increased by $39.0 million, or 28%, from $141.7 million for the three months ended September 30, 2024, to $180.7 million for the same period in 2025[195]. - Marketplace revenue increased by $39.6 million, or 31%, from $127.0 million for the three months ended September 30, 2024, to $166.6 million for the same period in 2025, driven by increased buyer activity[195]. - Total revenue increased by $97.3 million, or 24%, from $397.0 million for the nine months ended September 30, 2024, to $494.2 million for the nine months ended September 30, 2025[216]. - Marketplace revenue increased by $99.7 million, or 28%, from $351.4 million for the nine months ended September 30, 2024, to $451.2 million for the nine months ended September 30, 2025, driven by increased buyer activity[216]. Financial Performance and Adjusted EBITDA - Adjusted EBITDA for the three months ended September 30, 2025, was $6.1 million, compared to $(0.6) million for the same quarter in 2024, reflecting improved operational efficiency[168]. - For the nine months ended September 30, 2025, Adjusted EBITDA was $10.1 million, a significant improvement from $(10.7) million for the same period in 2024[169]. - For the three months ended September 30, 2025, Non-GAAP net income was $6.2 million, compared to $1.1 million for the same quarter in 2024, representing an increase of 463%[171]. - For the nine months ended September 30, 2025, Non-GAAP net income was $11.7 million, compared to a Non-GAAP net loss of $(5.2) million for the same period in 2024[172]. - Non-GAAP net income for the nine months ended September 30, 2025, represented 2.4% of revenue, compared to (1.3)% of revenue for the same period in 2024[172]. Operating Expenses and Profitability - Total operating expenses for the three months ended September 30, 2025, were $83.1 million, compared to $67.3 million for the same period in 2024[191]. - Gross profit for the three months ended September 30, 2025, was $72.0 million, compared to $55.8 million for the same period in 2024[191]. - The gross margin for marketplace revenue increased to 35.7% for the three months ended September 30, 2025, from 33.6% for the same period in 2024[194]. - Loss from operations for the three months ended September 30, 2025, was $(11.1) million, compared to $(11.5) million for the same period in 2024[191]. - Total gross margin was 39.2% for the nine months ended September 30, 2025, compared to 39.4% for the same period in 2024[222]. Cash Flow and Financing Activities - For the nine months ended September 30, 2025, net cash provided by operating activities was $1.7 million, compared to a net cash used of $24.5 million in the same period of 2024[262][263]. - Net cash used in investing activities for the nine months ended September 30, 2025, was $6.0 million, primarily due to the purchase of property and equipment of $19.9 million[264]. - Net cash provided by financing activities was $2.5 million for the nine months ended September 30, 2025, resulting from $241.4 million in net proceeds from the issuance of the 2030 Notes[266]. - The company issued $250.0 million of 0.75% Convertible Senior Notes due 2030, with net proceeds of approximately $241.4 million[153]. - The company recorded approximately $17.5 million of net proceeds from the 2030 Notes to pay the cost of the Capped Calls, classified as equity[257]. Workforce and Restructuring - The company initiated restructuring actions in 2025, resulting in a workforce reduction of approximately 5% and incurring $1.5 million in employee termination costs[154]. International Operations and Currency Impact - Approximately 16% of the company's revenues for the nine months ended September 30, 2025, were generated from international operations, primarily in Euros[273]. - If the average exchange rate of Euros changed unfavorably by 10%, revenues for the nine months ended September 30, 2025, would have decreased by 1.3%[273]. Other Financial Metrics - Interest and dividend income decreased by $1.7 million, or 20.5%, from $8.3 million for the nine months ended September 30, 2024, to $6.6 million for the nine months ended September 30, 2025[209]. - General and administrative expense increased by $5.9 million, or 12.4%, from $47.5 million for the nine months ended September 30, 2024, to $53.4 million for the nine months ended September 30, 2025[207]. - Net loss attributable to common stockholders was $53.1 million for the nine months ended September 30, 2025, compared to a net loss of $40.5 million for the same period in 2024[213]. - The company experienced a net decrease in operating assets and liabilities primarily driven by changes in accounts receivable of $23.4 million due to increased sales[262]. - The company did not experience delays in receiving payments from U.S. government agencies during the quarter ended September 30, 2025, but an extended government shutdown could disrupt cash flows[259].

Xometry (XMTR) came out with quarterly earnings of $0.11 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.02 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this marketplace for on-demand manufacturing would post earnings of $0.05 per share when it actually produced earnings of $0.09, delivering a surprise of +80%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.Xomet ...

Xometry (NasdaqGS:XMTR) Q3 2025 Earnings Call November 04, 2025 08:30 AM ET Speaker4Hi, and welcome to Xometry's Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star one one on your telephone. To remove yourself from the queue, you may press star one one again. I would now like to hand the call over to Vice President of Investor Relatio ...

Leading the Future of Manufacturing Q3 2025 Earnings Presentation November 4, 2025 © 2025 Xometry and/or its affiliates. All rights reserved. Proprietary. Safe Harbor This presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding the Company's future results of operations, financial position and cash flows, expectations regarding its growth and margin expansion, including in international markets, ...

Revenue Growth - Q3 2025 revenue increased 28% year-over-year to a record $181 million, driven by robust marketplace growth[5] - Marketplace revenue for Q3 2025 was $167 million, an increase of 31% year-over-year[6] - Revenue for Q3 2025 was $180.7 million, a 27.5% increase from $141.7 million in Q3 2024[34] - For Q4 2025, revenue is expected to be between $182 million and $184 million, representing 23-24% growth year-over-year[13] - The company raised its full-year 2025 revenue guidance to $676 million to $678 million[14] - Total revenue for the nine months ended September 30, 2025, was $494,234,000, up 24.5% from $396,983,000 in 2024[45] - U.S. segment revenue for the nine months ended September 30, 2025, was $414,646,000, a 24.5% increase from $333,113,000 in 2024[45] - International segment revenue for the nine months ended September 30, 2025, was $79,588,000, up 24.6% from $63,870,000 in 2024[45] Profitability Metrics - Q3 Adjusted EBITDA improved by $6.8 million year-over-year to $6.1 million, reflecting strong operating expense leverage[5] - Non-GAAP net income for Q3 2025 was $6.2 million, compared to $1.1 million in Q3 2024, reflecting a 457% increase[6] - Gross profit for Q3 2025 was $72.0 million, compared to $55.8 million in Q3 2024, reflecting a gross margin improvement[34] - Adjusted EBITDA for the nine months ended September 30, 2025, was $10,146,000, compared to a loss of $10,725,000 in 2024, indicating a significant improvement[39] - Non-GAAP EPS diluted for the nine months ended September 30, 2025, was $0.22, compared to a loss of $0.11 in 2024[43] Expenses and Losses - Operating expenses for Q3 2025 were $83.1 million, up from $67.3 million in Q3 2024, driven by increased sales and marketing costs[34] - Net loss for Q3 2025 was $11.6 million, compared to a net loss of $10.2 million in Q3 2024, resulting in a net loss per share of $0.23[34] - For the nine months ended September 30, 2025, the net loss was $53,110,000 compared to a net loss of $40,507,000 for the same period in 2024, representing a 31% increase in losses[37] - The company incurred $16,430,000 in losses on debt extinguishment during the nine months ended September 30, 2025[39] Asset and Liability Changes - Total current assets increased to $341.1 million as of September 30, 2025, up from $327.5 million at the end of 2024[32] - Total liabilities rose to $425.8 million as of September 30, 2025, compared to $364.5 million at the end of 2024[32] - Cash and cash equivalents decreased to $20.8 million as of September 30, 2025, from $22.2 million at the end of 2024[32] - The cash and cash equivalents at the end of the period were $20,845,000, down from $53,424,000 at the beginning of the period[37] Operational Developments - Marketplace Active Buyers increased 21% from 64,851 as of September 30, 2024, to 78,282 as of September 30, 2025[6] - The new Workcenter mobile app was launched to enhance supplier management and communication within the Xometry partner network[8] - Xometry's marketplace continues to expand, leveraging AI to enhance the procurement process for manufacturers[28] Compensation and Expenses - The company reported stock-based compensation of $25,985,000 for the nine months ended September 30, 2025, compared to $21,115,000 in 2024, reflecting a 23% increase[39] - Total stock-based compensation expense and payroll taxes related to stock-based compensation for the nine months ended September 30, 2025, reached $28,085,000, an increase of 27.6% compared to $21,991,000 in the same period of 2024[46] - Total depreciation and amortization expense for Q3 2025 was $5,000,000, representing a 55.3% increase from $3,213,000 in Q3 2024[46] - Total restructuring charges for the nine months ended September 30, 2025, amounted to $1,464,000, with a significant increase from no charges reported in the same period of 2024[46] - Product development expenses for Q3 2025 were $2,583,000, a 67.4% increase from $1,543,000 in Q3 2024[46] - Operations and support expenses for Q3 2025 totaled $3,712,000, up 64.4% from $2,259,000 in Q3 2024[46] - General and administrative expenses for the nine months ended September 30, 2025, were $4,416,000, compared to $4,101,000 in the same period of 2024, reflecting a 7.7% increase[46] - Cost of revenue for the nine months ended September 30, 2025, was $550,000, slightly up from $549,000 in the same period of 2024[46] - Sales and marketing expenses for Q3 2025 were $3,170,000, up 65.7% from $1,913,000 in Q3 2024[46] - Sales and marketing depreciation for Q3 2025 was $799,000, nearly unchanged from $794,000 in Q3 2024[46] - Operations and support depreciation for the nine months ended September 30, 2025, was $129,000, an increase from $105,000 in the same period of 2024[46]

Core Insights - Xometry reported a record third quarter for 2025, with a 31% year-over-year growth in marketplace revenue, highlighting the increasing adoption of its supply chain solutions by enterprise customers [2][5][6] - The company achieved a gross margin of 35.7%, an increase of 210 basis points year-over-year, and an Adjusted EBITDA of $6.1 million, improving by $6.8 million compared to the previous year [2][5][6] - Xometry's revenue for Q3 2025 reached $181 million, a 28% increase from $142 million in Q3 2024, driven by strong marketplace growth and expanded buyer-supplier networks [5][7] Financial Highlights - Q3 2025 revenue was $181 million, up 28% year-over-year, with marketplace revenue specifically increasing by 31% to $167 million [5][6][7] - Gross profit for Q3 2025 was $72 million, a 29% increase from $56 million in Q3 2024, attributed to the record marketplace gross margin [5][7] - The net loss attributable to common stockholders for Q3 2025 was $11.6 million, compared to a loss of $10.2 million in Q3 2024 [6][7] Business Developments - Xometry launched the Workcenter mobile app, enhancing communication and operational management for suppliers within its network [4] - The company introduced auto-quotes for injection molding services in the U.S., streamlining the manufacturing process [9] - Xometry expanded its marketplace in the EU with new materials and faster lead times, including a parts library for easier management of part data [9] Key Operating Metrics - Active buyers increased by 21% year-over-year, from 64,851 to 78,282 [6][11] - Accounts with last twelve-months spend of at least $50,000 rose by 14%, from 1,506 to 1,724 [6][11] - The percentage of revenue from existing accounts was 98%, up from 97% [11] Financial Guidance - For Q4 2025, Xometry expects revenue between $182 million and $184 million, representing a year-over-year growth of 23-24% [12][16] - The full year 2025 revenue guidance has been raised to $676 million to $678 million, with Adjusted EBITDA guidance increased to $16 million to $17 million [12][16]

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh. ...