Xometry Inc. is leaning into enterprise and international expansion after posting strong Q1 results, with marketplace revenue jumping 27% year over year to $136.4 million.
For its fiscal Q1 ended March 31, Xometry reported total revenue of $151.0 million, up 23% from $122.7 million a year earlier.
The first quarter marked a financial turning point for the digital manufacturing platform. Xometry posted an adjusted EBITDA profit of $78,000, a $7.5 million improvement from a loss of $7.5 million in Q1 2024. Gross profit rose 18% to $56.3 million, and the company recorded a non-GAAP net income of $828,000 compared to a loss of $5.7 million a year ago. Net loss narrowed to $15.1 million from $16.6 million.
How Xometry grew revenue in Q1
Customer engagement deepened across key metrics. Active buyers grew 22% to 71,454, while accounts spending at least $50,000 annually rose 12% to 1,545. Existing accounts accounted for 98% of total revenue.
“Our enterprise customers are increasingly relying on Xometry to build more resilient, responsive supply chains,” CEO Randy Altschuler said on the company’s earnings call. “We’re seeing expanded usage across departments and business units, which is a strong signal that we’re becoming a core sourcing platform.”
International revenue increased 20% to $23.2 million in Q1, supported by product launches like instant quoting for injection molding through Xometry Europe. The company also obtained Cybersecurity Maturity Model Certification (CMMC Level 2), enabling deeper partnerships in aerospace and defense.
Chief financial officer (CFO) James Miln said the combination of enterprise growth and international expansion is creating stronger operating leverage.
“We’re making progress in global markets, but the core engine remains our U.S. marketplace, especially among large buyers,” Miln said.
Analysts echoed the company’s positioning.
“Xometry is increasingly becoming the digital backbone for on-demand manufacturing,” said William Blair in a client note. “It’s enterprise traction, global reach, and scalable platform architecture position it well for sustained growth.”
Looking ahead, Xometry expects Q2 2025 revenue of $155 million to $157 million, representing 17%–18% year-over-year growth. It raised full-year marketplace growth guidance from at least 20% to at least 22%.
Check back for more earnings reports. Here’s last quarter’s update on Xometry sales and revenue.
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