Q4 2024 Xometry Inc Earnings Call Transcript
Key Points
- Xometry Inc (XMTR) achieved record revenue, gross profit, and marketplace gross margin in Q4 2024, with a 16% year-over-year revenue increase to $149 million.
- The company's AI-powered marketplace saw a 23% growth in active buyers, reaching over 68,000, and a 20% year-over-year increase in marketplace revenue.
- International growth was robust, with a 42% year-over-year increase in Q4, reaching a $100 million run rate, driven by expansion in Europe and Asia Pacific.
- Xometry Inc (XMTR) achieved adjusted EBITDA profitability in Q4 2024, marking a significant milestone in its mission to digitize the global custom manufacturing industry.
- The company is focused on expanding its buyer and supplier networks, driving deeper enterprise engagement, and enhancing supplier services, which are expected to contribute to accelerated revenue growth in 2025.
- Supplier services revenue declined 13% year-over-year in Q4 2024, primarily due to the wind down of non-core services and a contraction in U.S. manufacturing.
- The number of active paying suppliers in the supplier services segment decreased by 9% year-over-year.
- Q4 marketplace revenue per active buyer was down 3% year-over-year due to a tough comparison from Q4 2023.
- The stronger U.S. dollar negatively impacted Q4 revenue by approximately $0.5 million to $1 million.
- Xometry Inc (XMTR) expects a temporary dampening of gross margin in Q1 2025 due to accelerated global sourcing strategy and investments in new geographies.
Good day and thank you for standing by. Welcome to the Xometry Inc. Q4 2024 earnings call. At this time, all participants are on a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, Shawn Milne, VP of Investor relations.
Good morning and thank you for joining us on Xometry's Q4 and full-year 2024 earnings call. Joining me are Randy Altschuler, our Chief Executive Officer; and James Miln, our Chief Financial Officer.
During today's call, we will review our financial results for the fourth-quarter and full-year 2024 and discuss our guidance for the first-quarter and full-year 2025.
During today's call, we will make forward-looking statements including statements related to the expected performance of our business, future financial results, strategy, long-term growth, and
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