Xometry Posts Record Q4 2025 Revenue on Marketplace Growth — Xometry, Inc.

Event summary

Xometry reported Q4 2025 revenue of $192 million, up 30% YoY, driven by marketplace growth.
Marketplace revenue grew 33% YoY to $178 million, with active buyers increasing 20% to 81,821.
Adjusted EBITDA improved by $7.3 million YoY to $8.4 million, with incremental margins of 20%.
Full-year 2025 revenue reached $686 million, up 26% YoY, with marketplace revenue at $630 million.
Xometry expanded supplier base by 17% YoY to 4,996, adding more suppliers in Europe, China, India, and Turkey.

The big picture

Xometry's strong Q4 2025 results reflect the accelerating digital transformation of manufacturing supply chains. The company's AI-native marketplace is gaining traction with enterprise customers, positioning it as a key player in the industrial procurement space. With incremental EBITDA margins of 20%, Xometry is demonstrating operational leverage as it scales, though sustaining this growth will require continued innovation and supplier expansion.

What we're watching

Marketplace Scaling: Whether Xometry can sustain 30%+ revenue growth as it scales toward $1 billion in revenue.
Enterprise Engagement: How deeper enterprise engagement will impact high-value customer retention and spend.
International Expansion: The pace at which Xometry can expand its supplier network in key global markets like Europe and Asia.