Q1 2025 Xometry Inc Earnings Call Transcript
Key Points
- Xometry Inc (XMTR) reported a 23% year-over-year revenue increase to $151 million, marking a 700 basis point acceleration from the previous quarter.
- Marketplace growth accelerated to 27%, driven by continued enterprise adoption and strong execution with larger accounts.
- The company achieved positive adjusted EBITDA, reflecting strong operating leverage and disciplined capital allocation.
- Xometry Inc (XMTR) is expanding its global sourcing strategy, which has been validated by the current international trade and supply chain environment.
- The company is investing in AI-driven marketplace technology to optimize sourcing strategies and mitigate cost increases, enhancing its competitive advantage.
- Supplier services revenues declined 6% year-over-year in Q1 due to macro-related softness in Thomas advertising and the wind down of noncore services.
- International revenue growth slowed to 20% year-over-year compared to 69% growth in Q1 2024, indicating challenges in maintaining high growth rates abroad.
- Q1 gross margin for the marketplace was slightly down due to investments in global sourcing and a mix shift to US marketplace revenue.
- The company initiated a restructuring action in March 2025, reducing its workforce by approximately 5% to improve efficiency.
- Xometry Inc (XMTR) faces an uncertain macro environment, with manufacturing indices suggesting some buyers remain cautious.
Good day, and thank you for standing by. Welcome to the Xometry Q1 2025 Earnings Call. (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 IR.
Good morning, and thank you for joining us on Xometry's Q1 2025 Earnings Call. Joining me are Randy Altschuler, our Chief Executive Officer; Sanjeev Sahni, our President; and James Miln, our Chief Financial Officer.
During today's call we will review our financial results for the first quarter 2025 and discuss our guidance for the second 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 overall future prospects. Such statements may be identified by terms such as believe, expect, intend and may.
These statements are subject to risks and uncertainties which
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