Xometry Reports Record Third Quarter 2025 Results

Q3 revenue increased 28% year-over-year to a record $181 million, driven by robust marketplace growth.Q3 marketplace revenue growth accelerated to 31% year-over-year, driven by strong enterprise growth and expanded networks of buyers and suppliers.Q3 gross profit increased 29% year-over-year to a record $72.0 million, driven by record marketplace gross margin of 35.7%.Q3 Adjusted EBITDA improved $6.8 million year-over-year to Adjusted EBITDA of $6.1 million driven by expanding marketplace gross margin and strong operating expense leverage.Strong operating results were driven by consistent execution across growth initiatives: expanding buyer and supplier networks, driving deeper enterprise engagement, further expanding the marketplace platform, growing internationally, and enhancing supplier services. NORTH BETHESDA, Md., Nov. 04, 2025 (GLOBE NEWSWIRE) -- Xometry, Inc. (NASDAQ: XMTR), the global AI-powered marketplace connecting buyers and suppliers of custom manufacturing, today announced its financial results for the third quarter ended September 30, 2025. “This was another record quarter for Xometry as enterprise customers rapidly adopt our supply chain solutions,” said Randy Altschuler, CEO at Xometry. “In Q3, we delivered 31% marketplace revenue growth year-over-year underscoring the strength of our platform and strategic global network.” “In Q3, we delivered accelerated marketplace revenue growth and a robust marketplace gross margin which increased 210 basis points year-over-year to 35.7%,” said James Miln, Xometry’s CFO. “Our Adjusted EBITDA improved by $6.8 million year-over-year to $6.1 million. We expect to deliver 20% annual incremental Adjusted EBITDA margins as we scale to $1 billion in revenue.” Third Quarter 2025 Financial Highlights Marketplace revenue for the third quarter of 2025 was $167 million, an increase of 31% year-over-year.Marketplace Active Buyers increased 21% from 64,851 as of September 30, 2024 to 78,282 as of September 30, 2025.Marketplace Accounts with Last Twelve-Months Spend of at least $50,000 increased 14% from 1,506 as of September 30, 2024 to 1,724 as of September 30, 2025.Supplier services revenue for the third quarter of 2025 was $14.1 million, a decrease of 4% year-over-year.Net loss attributable to common stockholders for the third quarter of 2025 was $11.6 million.Adjusted EBITDA for the third quarter of 2025 was $6.1 million, reflecting an improvement of $6.8 million year-over-year.Non-GAAP net income for the third quarter of 2025 was $6.2 million, as compared to a Non-GAAP net income of $1.1 million in the third quarter of 2024. Cash, cash equivalents and marketable securities were $225 million as of September 30, 2025. Business highlights since Xometry’s last earnings announcement include: Xometry launched the new Workcenter mobile app. The Workcenter platform is Xometry’s proprietary all-in-one quote-to-cash solution enabling its partners to source and consolidate work, manage operations, monitor performance and secure cash flow. This powerful new app is designed to help suppliers within the Xometry partner network manage job offers, production workflows and shop performance – anytime, anywhere. Additionally, the new app provides for better communication flow to ensure partners are quickly informed of critical updates and job opportunities. The app also enables seamless data capture through photos, certifications, signatures, and status updates to improve accuracy and get information flowing quickly, delivering greater quality, transparency, and responsiveness to customers.Xometry launched auto-quotes for injection molding services in the U.S., following a launch earlier this year in Europe. Xometry’s new auto-quoting capability simplifies the injection molding manufacturing process in a seamless digital experience, to enable customers to move quickly from design to finished part. Xometry’s proprietary AI-powered platform manages the full lifecycle of injection molding needs from initial quoting to delivery to reordering. The platform enables a spectrum of injection molding options – from prototype and low-volume bridge tooling to high-volume, multi-cavity production tooling in over 35 different materials, colors and finishes.Thomas launched a new dynamic ad-serving technology platform. The new pay-for-performance platform enables advertisers to set budgets, better define their target audience, maximize ad effectiveness and improve return on investment (ROI) tracking.Xometry advanced its AI-powered Design for Manufacturing (DFM) capabilities, expanding its automated extraction engine that interprets technical drawings and CAD files. This enhancement improves the accuracy of quotes and supplier matching by automatically identifying key manufacturing attributes (such as materials, processes or tolerances) directly from the part's design.Xometry EU expanded its marketplace with new materials and faster lead times. Xometry EU added over two dozen new materials including new metals (bronze) and engineering plastics (acrylics). Additionally, the EU marketplace expanded its delivery options, offering express manufacturing options for CNC, sheet metal and 3D printing.Xometry EU launched its parts library. The library simplifies how customers manage and reuse part data across projects. It automatically gathers all 3D models and drawings from past quotes and orders, making it easier to reorder parts and reuse designs. Buyers can also view project history, see where each part was used, and download models and drawings directly from the library. Financial Summary(In thousands, except per share amounts)(Unaudited) For the Three MonthsEnded September 30, For the Nine MonthsEnded September 30, 2025 2024 % Change 2025 2024 % Change Consolidated Revenue $180,715 $141,698 28% $494,234 $396,983 24%Gross profit 72,029 55,825 29% 193,536 156,604 24%Net loss attributable to common stockholders (11,597) (10,199) 14% (53,109) (40,512) 31%EPS, basic and diluted, of Class A and Class B common stock (0.23) (0.21) 10% (1.05) (0.83) 27%Adjusted EBITDA(1) 6,142 (632) 1072% 10,146 (10,725) 195%Non-GAAP net income (loss)(1) 6,210 1,114 457% 11,718 (5,234) 324%Non-GAAP EPS, basic(1), of Class A and Class B common stock 0.12 0.02 500% 0.23 (0.11) 309%Non-GAAP EPS, diluted(1), of Class A and Class B common stock 0.11 0.02 450% 0.22 (0.11) 300% Marketplace Revenue $166,592 $126,965 31% $451,168 $351,438 28%Cost of revenue 107,086 84,347 27% 295,891 235,278 26%Gross Profit $59,506 $42,618 40% $155,277 $116,160 34%Gross Margin 35.7% 33.6% 2.1% 34.4% 33.1% 1.3% Supplier services Revenue $14,123 $14,733 (4)% $43,066 $45,545 (5)%Cost of revenue 1,600 1,526 5% 4,807 5,101 (6)%Gross Profit $12,523 $13,207 (5)% $38,259 $40,444 (5)%Gross Margin 88.7% 89.6% (0.9)% 88.8% 88.8% 0.0% (1) These non-GAAP financial measures, and the reasons why we believe these non-GAAP financial measures are useful, are described below and reconciled to their most directly comparable GAAP measures in the accompanying tables. Key Operating Metrics(2): As of September 30, 2025 2024 %Change Active Buyers(3) 78,282 64,851 21%Percentage of Revenue from Existing Accounts(3) 98% 97% Accounts with Last Twelve-Months Spend of at Least $50,000(3) 1,724 1,506 14% (2) These key operating metrics are for Marketplace. See “Key Terms for our Key Metrics and Non-GAAP Financial Measures” below for definitions of these metrics. (3) Amounts shown for Active Buyers, Accounts with Last Twelve-Months Spend of at Least $50,000 and Percentage of Revenue from Existing Accounts is presented for the quarters ended September 30, 2025 and 2024. Financial Guidance and Outlook: Q4 2025 FY 2025 (in millions) (in millions) Low High Low High Revenue $182 $184 $676 $678 Adjusted EBITDA $6 $7 $16 $17 For Q4 2025, expect revenue of $182-$184 million, representing 23-24% growth year-over-year.For Q4 2025, expect Adjusted EBITDA of $6-$7 million, an improvement from an Adjusted EBITDA of $1.0 million in Q4 2024.For the full year 2025, we are raising our revenue guidance to $676-$678 million.For the full year 2025, we are raising our Adjusted EBITDA guidance to $16-$17 million. Xometry’s fourth quarter 2025 and full year 2025 financial outlook is based on a number of assumptions that are subject to change and may be outside of its control. If actual results vary from these assumptions, Xometry’s expectations may change. There can be no assurance that Xometry will achieve these results. 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 (provision) 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. Use of Non-GAAP Financial Measures To supplement its consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”), Xometry, Inc. (“Xometry”, the “Company”, “we” or “our”) uses Adjusted EBITDA, non-GAAP net income (loss) and non-GAAP Earnings Per Share, basic and diluted, which are considered non-GAAP financial measures, as described below. These non-GAAP financial measures are presented to enhance the user’s overall understanding of Xometry’s financial performance and should not be considered a substitute for, nor superior to, the financial information prepared and presented in accordance with GAAP. The non-GAAP financial measures presented in this release, together with the GAAP financial results, are the primary measures used by the Company’s management and board of directors to understand and evaluate the Company’s financial performance and operating trends, including period-to-period comparisons, because they exclude certain expenses and gains that management believes are not indicative of the Company’s core operating results. Management also uses these measures to prepare and update the Company’s short and long term financial and operational plans, to evaluate investment decisions, and in its discussions with investors, commercial bankers, equity research analysts and other users of the Company’s financial statements. Accordingly, the Company believes that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating the Company’s operating results in the same manner as the Company’s management and in comparing operating results across periods and to those of Xometry’s peer companies. In addition, from time to time we may present adjusted information (for example, revenue growth) to exclude the impact of certain gains, losses or other changes that affect period-to-period comparability of our operating performance. The use of non-GAAP financial measures has certain limitations because they do not reflect all items of income and expense, or cash flows, that affect the Company’s financial performance and operations. Additionally, non-GAAP financial measures do not have standardized meanings, and therefore other companies, including peer companies, may use the same or similarly named measures but exclude or include different items or use different computations. Management compensates for these limitations by reconciling these non-GAAP financial measures to their most comparable GAAP financial measures in the tables captioned “Reconciliations of Non-GAAP Financial Measures” included at the end of this release. Investors and others are encouraged to review the Company’s financial information in its entirety and not rely on a single financial measure. Key Terms for our Key Metrics and Non-GAAP Financial Measures Marketplace revenue: includes the sale of parts and assemblies on our platform. Supplier services revenue: includes the sales of marketing and advertising services and, to a lesser extent, financial service products and SaaS-based solutions. Active Buyers: The Company defines “buyers” as individuals who have placed an order to purchase on-demand parts or assemblies on our marketplace. The Company defines Active Buyers as the number of buyers who have made at least one purchase on our marketplace during the last twelve months. Active Suppliers: The Company defines “suppliers” as individuals or businesses that have been approved by us to either manufacture a product on our platform for a buyer or have utilized our supplier services, including our digital marketing services, data services, financial services or tools and materials. The Company defines Active Suppliers as suppliers that have used our platform at least once during the last twelve months to manufacture a product. Percentage of Revenue from Existing Accounts: The Company defines an “account” as an individual entity, such as a sole proprietor with a single buyer or corporate entities with multiple buyers, having purchased at least one part on our marketplace. The Company defines an existing account as an account where at least one buyer has made a purchase on our marketplace. Accounts with Last Twelve-Month Spend of at Least $50,000: The Company defines Accounts with Last Twelve-Month Spend of at Least $50,000 as an account that has spent at least $50,000 on our marketplace in the most recent twelve-month period. Adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA): The Company defines Adjusted EBITDA as net loss, adjusted for interest expense, interest and dividend income and other expenses, and certain other non-cash or non-recurring items impacting net loss from time to time, principally comprised of depreciation and amortization, amortization of lease intangible, (benefit) provision for income taxes, stock-based compensation, payroll tax expense related to stock-based compensation, charitable contributions of common stock, income from unconsolidated joint venture, impairment of assets, restructuring charges and acquisition and other adjustments not reflective of the Company’s ongoing business, such as adjustments related to purchase accounting, the revaluation of contingent consideration, transaction costs and executive severance. Non-GAAP net income (loss): The Company defines non-GAAP net income (loss) as net loss adjusted for depreciation and amortization, stock-based compensation, payroll tax expense related to stock-based compensation, amortization of lease intangible, amortization of deferred costs on convertible notes, gain on sale of property and equipment, charitable contributions of common stock, lease termination, impairment of assets, restructuring charges, loss on debt extinguishment and acquisition and other adjustments not reflective of the Company’s ongoing business, such as adjustments related to purchase accounting, the revaluation of contingent consideration, transaction costs and executive severance. Non-GAAP Earnings Per Share, basic and diluted (Non-GAAP EPS, basic and diluted): The Company calculates non-GAAP earnings per share, basic and diluted as non-GAAP net income (loss) divided by the weighted average number of basic or dilutive shares of common stock outstanding. Management believes that the exclusion of certain expenses and gains in calculating Adjusted EBITDA, non-GAAP net income (loss) and non-GAAP EPS, basic and diluted, provides a useful measure for period-to-period comparisons of the Company’s underlying core revenue and operating costs that is focused more closely on the current costs necessary to operate the Company’s businesses and reflects its ongoing business in a manner that allows for meaningful analysis of trends. Management also believes that excluding certain non-cash charges can be useful because the amount of such expenses is the result of long-term investment decisions made in previous periods rather than day-to-day operating decisions. About XometryXometry’s (NASDAQ: XMTR) AI-powered marketplace, popular Thomasnet® industrial sourcing platform and suite of cloud-based services are rapidly digitizing the manufacturing industry. Xometry provides manufacturers the critical resources they need to grow their business and streamlines the procurement process for buyers through real-time pricing and lead time data. Learn more at xometry.com and xometry.eu. Conference Call and Webcast InformationThe Company will host a conference call and webcast to discuss the results at 8:30 a.m. ET (5:30 a.m. PT) on November 4, 2025. In addition to its press release announcing its third quarter 2025 financial results, Xometry will release an earnings presentation, which will be available on its investor website at investors.xometry.com. Xometry, Inc. Third Quarter 2025 Earnings Presentation and Conference Call Tuesday, November 4, 20258:30 a.m. Eastern / 5:30 a.m. PacificTo access the webcast use the following link: https://register-conf.media-server.com/registerYou may also visit the Xometry Investor Relations Homepage at investors.xometry.com to listen to a live webcast of the call Cautionary Information Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “would,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements in this press release include, but are not limited to, our beliefs regarding our financial position and operating performance, including our outlook and guidance for the fourth quarter of 2025 and the full year 2025; our expectations regarding our growth; and statements regarding our strategies, initiatives, products and platform capabilities. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks and uncertainties related to: competition, managing our growth, financial performance, our ability to forecast our performance due to our limited operating history, investments in new products or offerings, our ability to attract buyers and sellers to our marketplace, legal proceedings and regulatory matters and developments, any future changes to our business or our financial or operating model, our brand and reputation, and the impact of fluctuations in general macroeconomic conditions, such as fluctuations in inflation and rising interest rates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties that could cause actual results to differ from the results predicted, including those more fully described in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2024, our Quarterly Reports on Form 10-Q, and other filings and reports that we may file from time to time with the SEC. All forward-looking statements in this press release are based on information available to Xometry and assumptions and beliefs as of the date hereof, and we disclaim any obligation to update any forward-looking statements, except as required by law. Investor Contact: Media Contact:Shawn MilneVP Investor Relations240-335-8132shawn.milne@xometry.comLauran CacciatoriVP Communications773-610-0806lauran.cacciatori@xometry.com Xometry, Inc. and SubsidiariesCondensed Consolidated Balance Sheets(In thousands, except share and per share data)(Unaudited) September 30, December 31, 2025 2024 Assets Current assets: Cash and cash equivalents $20,845 $22,232 Marketable securities 203,674 217,603 Accounts receivable, less allowance for credit losses of $6.5 million as of September 30, 2025 and $4.9 million as of December 31, 2024 98,887 73,962 Inventory 4,241 3,915 Prepaid expenses 5,904 4,954 Other current assets 7,554 4,874 Total current assets 341,105 327,540 Property and equipment, net 54,545 44,825 Operating lease right-of-use assets 5,333 8,462 Investment in unconsolidated joint venture 4,209 4,065 Intangible assets, net 29,456 32,139 Goodwill 263,770 262,686 Other assets 459 412 Total assets $698,877 $680,129 Liabilities and stockholders’ equity Current liabilities: Accounts payable and accrued cost of revenue $46,242 $35,023 Other accrued expenses 33,306 24,401 Contract liabilities 11,322 7,948 Income taxes payable 730 979 Operating lease liabilities, current portion 2,547 6,436 Total current liabilities 94,147 74,787 Convertible notes 326,943 283,628 Operating lease liabilities, net of current portion 3,965 5,072 Deferred income taxes 185 229 Other liabilities 547 817 Total liabilities 425,787 364,533 Commitments and contingencies Stockholders’ equity Preferred stock, $0.000001 par value. Authorized; 50,000,000 shares; zero shares issued and outstanding as of September 30, 2025 and December 31, 2024 — — Class A Common stock, $0.000001 par value. Authorized; 750,000,000 shares; 49,557,368 shares and 48,289,274 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively — — Class B Common stock, $0.000001 par value. Authorized; 5,000,000 shares; 1,475,311 shares issued and outstanding as of September 30, 2025 and December 31, 2024 — — Additional paid-in capital 698,972 685,054 Treasury stock, at cost, 220,994 and zero shares as of September 30, 2025 and December 31, 2024, respectively (8,080) — Accumulated other comprehensive income (loss) 4,454 (328)Accumulated deficit (423,382) (370,273)Total stockholders’ equity 271,964 314,453 Noncontrolling interest 1,126 1,143 Total equity 273,090 315,596 Total liabilities and stockholders’ equity $698,877 $680,129 Xometry, Inc. and SubsidiariesCondensed Consolidated Statements of Operations and Comprehensive Loss(In thousands, except share and per share amounts)(Unaudited) Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2025 2024 2025 2024 Revenue $180,715 $141,698 $494,234 $396,983 Cost of revenue 108,686 85,873 300,698 240,379 Gross profit 72,029 55,825 193,536 156,604 Operating expenses Sales and marketing 32,649 27,204 88,866 81,891 Operations and support 18,403 14,698 53,225 42,918 Product development 12,524 9,344 34,703 28,952 General and administrative 19,463 16,060 53,433 47,470 Impairment of assets 49 - 49 - Total operating expenses 83,088 67,306 230,276 201,231 Loss from operations (11,059) (11,481) (36,740) (44,627)Other (expenses) income Interest expense (1,278) (1,187) (3,648) (3,564)Interest and dividend income 2,139 2,781 6,591 8,275 Other expenses (1,636) (444) (19,882) (1,064)Income from unconsolidated joint venture 220 162 544 493 Total other (expenses) income (555) 1,312 (16,395) 4,140 Loss before income taxes (11,614) (10,169) (53,135) (40,487)Benefit (provision) for income taxes 17 (30) 25 (20)Net loss (11,597) (10,199) (53,110) (40,507)Net (loss) income attributable to noncontrolling interest - - (1) 5 Net loss attributable to common stockholders $(11,597) $(10,199) $(53,109) $(40,512)Net loss per share, basic and diluted, of Class A and Class B common stock $(0.23) $(0.21) $(1.05) $(0.83)Weighted-average number of shares outstanding used to compute net loss per share, basic and diluted, of Class A and Class B common stock 50,920,588 49,282,164 50,653,997 48,901,475 Net loss $(11,597) $(10,199) $(53,110) $(40,507)Comprehensive income: Foreign currency translation 180 795 4,766 430 Total other comprehensive income 180 795 4,766 430 Comprehensive loss (11,417) (9,404) (48,344) (40,077)Comprehensive income (loss) attributable to noncontrolling interest 7 (23) (17) 8 Total comprehensive loss attributable to common stockholders $(11,424) $(9,381) $(48,327) $(40,085) Xometry, Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows(In thousands)(Unaudited) Nine Months EndedSeptember 30, 2025 2024 Cash flows from operating activities: Net loss $(53,110) $(40,507)Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 13,741 9,622 Impairment of assets 49 — Reduction in carrying amount of right-of-use asset 3,350 3,328 Lease termination (14) — Stock-based compensation 25,985 21,115 Revaluation of contingent consideration — 137 Income from unconsolidated joint venture (144) (93)Donation of common stock 2,080 1,063 Loss on debt extinguishment 16,430 — Gain on sale of property and equipment — (23)Amortization of deferred costs on convertible notes 1,527 1,394 Deferred tax benefit (44) (30)Changes in other assets and liabilities: Accounts receivable, net (23,370) (8,263)Inventory (192) (598)Prepaid expenses (904) 786 Other assets (1,233) 4,354 Accounts payable and accrued cost of revenue 10,728 (18,293)Other accrued expenses 9,100 6,782 Contract liabilities 3,170 916 Lease liabilities (5,202) (5,068)Other liabilities (24) 529 Income taxes payable (249) (1,620)Net cash provided by (used in) operating activities 1,674 (24,469)Cash flows from investing activities: Purchases of marketable securities (6,571) (16,253)Proceeds from sale of marketable securities 20,500 15,000 Purchases of property and equipment (19,911) (13,560)Proceeds from sale of property and equipment — 79 Net cash used in investing activities (5,982) (14,734)Cash flows from financing activities: Proceeds from issuance of convertible notes 250,000 — Costs incurred in connection with issuance of convertible notes (8,650) — Payments for repurchase of convertible notes (215,992) — Purchase of capped calls (17,475) — Purchase of treasury stock (8,080) — Proceeds from stock options exercised 2,703 3,215 Net cash provided by financing activities 2,506 3,215 Effect of foreign currency translation on cash and cash equivalents 415 (6)Net decrease in cash and cash equivalents (1,387) (35,994)Cash and cash equivalents at beginning of the period 22,232 53,424 Cash and cash equivalents at end of the period $20,845 $17,430 Supplemental cash flow information: Cash paid for interest $2,600 $2,875 Non-cash investing and financing activities: Non-cash purchase of property and equipment 74 — Non-cash consideration in connection with business combination 625 — Xometry, Inc. and SubsidiariesReconciliations of Non-GAAP Financial Measures(In thousands, except share and per share amounts)(Unaudited) For the Three MonthsEnded September 30, For the Nine MonthsEnded September 30, 2025 2024 2025 2024 Adjusted EBITDA: Net loss $(11,597) $(10,199) $(53,110) $(40,507)Add (deduct): Interest expense, interest and dividend income and other expenses(1) 775 (1,150) 16,939 (3,647)Depreciation and amortization(2) 5,000 3,213 13,741 9,622 Amortization of lease intangible 180 180 540 540 (Benefit) provision for income taxes (17) 30 (25) 20 Stock-based compensation(3) 10,748 6,954 25,985 21,115 Payroll tax expense related to stock-based compensation 366 96 2,100 876 Acquisition and other(4) — — 927 686 Charitable contribution of common stock 950 406 2,080 1,063 Income from unconsolidated joint venture (220) (162) (544) (493)Impairment of assets 49 — 49 — Restructuring charges(5) (92) — 1,464 — Adjusted EBITDA $6,142 $(632) $10,146 $(10,725) For the Three MonthsEnded September 30, For the Nine MonthsEnded September 30, 2025 2024 2025 2024 Non-GAAP Net Income (Loss): Net loss $(11,597) $(10,199) $(53,110) $(40,507)Add (deduct): Depreciation and amortization(2) 5,000 3,213 13,741 9,622 Stock-based compensation(3) 10,748 6,954 25,985 21,115 Payroll tax expense related to stock-based compensation 366 96 2,100 876 Amortization of lease intangible 180 180 540 540 Amortization of deferred costs on convertible notes 590 464 1,527 1,394 Acquisition and other(4) — — 926 686 Gain on sale of property and equipment — — — (23)Charitable contribution of common stock 950 406 2,080 1,063 Lease termination 16 — (14) — Impairment of assets 49 — 49 — Restructuring charges(5) (92) — 1,464 — Loss on debt extinguishment — — 16,430 — Non-GAAP Net Income (Loss) $6,210 $1,114 $11,718 $(5,234) Adjustments to numerator $540 $— $457 $— Weighted-average number of shares outstanding used to compute Non-GAAP Net Income (Loss) per share, basic and diluted, of Class A and Class B common stock 50,920,588 49,282,164 50,653,997 48,901,475 Non-GAAP weighted-average effect of potentially dilutive Class A common stock 9,957,018 — 4,768,815 — Non-GAAP weighted-average shares used to compute Non-GAAP Net Income (Loss) per share, diluted 60,877,606 49,282,164 55,422,812 48,901,475 EPS, basic and diluted, of Class A and Class B common stock $(0.23) $(0.21) $(1.05) $(0.83)Non-GAAP EPS basic, of Class A and Class B common stock $0.12 $0.02 $0.23 $(0.11)Non-GAAP EPS diluted, of Class A and Class B common stock $0.11 $0.02 $0.22 $(0.11) (1) Other expenses includes loss on debt extinguishment. (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.(3) Represents the non-cash expense related to stock-based awards granted to employees, as included in the Company’s GAAP results of operations.(4) Includes adjustments related to purchase accounting, the revaluation of contingent consideration, transaction costs and executive severance.(5) Costs associated with the 2025 reduction in workforce. Xometry, Inc. and SubsidiariesReconciliation of GAAP EPS to Non-GAAP EPS(Unaudited) For the Three MonthsEnded September 30, For the Nine MonthsEnded September 30, 2025 2024 2025 2024 Non-GAAP EPS: GAAP EPS, diluted, of Class A and Class B common stock $(0.23) $(0.21) $(1.05) $(0.83)Non-GAAP effect of potentially dilutive Class A common stock 0.04 — 0.14 — Add (deduct): Depreciation and amortization 0.08 0.07 0.25 0.20 Stock-based compensation 0.18 0.14 0.47 0.43 Payroll tax expense related to stock-based compensation 0.01 — 0.03 0.02 Amortization of lease intangible — — 0.01 0.01 Amortization of deferred costs on convertible notes 0.01 0.01 0.03 0.03 Acquisition and other — — 0.02 0.01 Gain on sale of property and equipment — — — — Charitable contribution of common stock 0.02 0.01 0.03 0.02 Lease termination — — — — Impairment of assets — — — — Restructuring charges — — 0.02 — Loss on debt extinguishment — — 0.27 — Non-GAAP EPS, diluted, of Class A and Class B common stock $0.11 $0.02 $0.22 $(0.11) Xometry, Inc. and SubsidiariesSegment Results(In thousands)(Unaudited) For the Three MonthsEnded September 30, For the Nine MonthsEnded September 30, 2025 2024 2025 2024 Segment Revenue: U.S. $151,093 $117,584 $414,646 $333,113 International 29,622 24,114 79,588 63,870 Total revenue $180,715 $141,698 $494,234 $396,983 Segment Cost of Revenue: U.S. $90,933 $70,862 $251,841 $200,829 International 17,753 15,011 48,857 39,550 Total cost of revenue $108,686 $85,873 $300,698 $240,379 Segment Adjusted EBITDA: U.S. $10,349 $1,389 $20,234 $(3,848)International (4,207) (2,021) (10,088) (6,877)Total Adjusted EBITDA $6,142 $(632) $10,146 $(10,725) Xometry, Inc. and SubsidiariesSupplemental Information(In thousands)(Unaudited) For the Three MonthsEnded September 30, For the Nine MonthsEnded September 30, 2025 2024 2025 2024 Summary of Stock-based Compensation Expense and Payroll Taxes Related to Stock-based Compensation Expense Sales and marketing $3,170 $1,913 $7,809 $6,000 Operations and support 3,712 2,259 9,450 6,843 Product development 2,583 1,543 6,410 5,047 General and administrative 1,649 1,335 4,416 4,101 Total stock-based compensation expense and payroll taxes related to stock-based compensation $11,114 $7,050 $28,085 $21,991 Summary of Depreciation and Amortization Expense Cost of revenue $184 $183 $550 $549 Sales and marketing 799 794 2,385 2,387 Operations and support 46 32 129 105 Product development 3,723 1,982 9,860 5,912 General and administrative 248 222 817 669 Total depreciation and amortization expense $5,000 $3,213 $13,741 $9,622 Summary of Restructuring Charges Sales and marketing $(27) — $62 — Operations and support (108) — 718 — Product development 11 — 510 — General and administrative 32 — 174 — Total restructuring charges $(92) — $1,464 —

Xometry Reports Record Third Quarter 2025 Results

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