Xometry: 3 Key Takeaways for Long-Term Investors
Key Points
Q3 marketplace revenue grew 43% year over year to $238 million.
Active buyers increased 20% year over year to 93,812 in Q3.
Accounts spending over $50,000 annually grew 26% year over year.
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On its third-quarter 2026 earnings call, held on Nov. 3, 2026, Xometry (NASDAQ:XMTR) announced its first quarter of profitability under generally accepted accounting principles, or GAAP, alongside reaching a $1 billion annual revenue run rate. Sustained adoption of the company's artificial intelligence marketplace demonstrates how digital platforms are capturing market share from traditional offline custom manufacturing. Three things management said stand out.
1. Marketplace Growth Reaches Record Scale and Margin
Marketplace revenue expanded 43% year over year to $238 million while gross margin reached 36%. Operational efficiency drove adjusted EBITDA to $21.4 million.
Q3 was a record quarter for Xometry across many fronts, including revenue, gross profit, marketplace gross margin, and adjusted EBITDA.
-- Sanjeev Singh Sahni, Chief Executive Officer
2. Enterprise Accounts Drive Large-Scale Spend
Accounts spending at least $50,000 annually expanded 26% year over year to 2,172 customers. Automated matching between purchase orders and invoices embeds the marketplace deeper into enterprise workflows.
In Q3, the number of accounts with last 12-month spend of at least $50,000 on our platform increased 26% year-over-year to 2,172, with 133 quarterly net adds.
-- James Miln, Chief Financial Officer
3. Native Software Integrations Extend Technology Infrastructure
Embedding core artificial intelligence tools directly into Siemens Designcenter software connects design workflows with production capacity. Management expects initial testing in the first quarter of 2027 to generate new customer adoption.
We are building native integrations to Siemens Designcenter, bringing Xometry's manufacturability and pricing insight directly into the platform.
-- Sanjeev Singh Sahni, Chief Executive Officer
Looking Ahead
Industrial buyers are shifting procurement online, and Xometry is capturing expanding volume across enterprise accounts. Network effects from over 5,000 active suppliers and deep e-procurement integrations establish high switching costs while management tracks pricing discipline and account expansion.
Top-line performance was fueled by widespread adoption of our platform as we steadily gain market share.
-- James Miln, Chief Financial Officer
Less than 1% of the $275 billion custom manufacturing total addressable market currently runs through digital channels. The long-term thesis relies on converting legacy offline transactions into automated online orders.
We are in the opening innings of a digital transformation, and our ability to capture the massive untapped opportunity gives us strong confidence in our long-term growth trajectory.
-- Sanjeev Singh Sahni, Chief Executive Officer
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The Motley Fool has positions in and recommends Xometry. The Motley Fool has a disclosure policy.
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