株探米国株
エドガーで原本を確認する
0001657573false00016575732026-08-042026-08-04

 

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 04, 2026

 

 

Xometry, Inc.

(Exact Name of Registrant as Specified in Its Charter)

 

 

Delaware

001-40546

32-0415449

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

6116 Executive Blvd, Suite 800

 

North Bethesda, Maryland

 

20852

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (240) 252-1138

 

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Class A common stock, par value $0.000001 per share

 

XMTR

 

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 


Item 2.02 Results of Operations and Financial Condition.

 

On August 4, 2026, Xometry, Inc. (the “Company”) issued a press release announcing its second quarter financial results for the quarterly period ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this report.

 

The information set forth under this Item 2.02 and in the accompanying Exhibit 99.1 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, except as otherwise expressly stated in such filing.

Item 9.01 Financial Statements and Exhibits.

Exhibit No.

Description

99.1

Press Release of Xometry, Inc. issued on August 4, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

XOMETRY, INC.

 

 

 

 

Date:

August 4, 2026

By:

/s/ Sanjeev Singh Sahni

 

 

 

Sanjeev Singh Sahni
Chief Executive Officer

 


EX-99.1 2 xmtr-ex99_1.htm EX-99.1 EX-99.1

 

Exhibit 99.1

Xometry Reports Record Second Quarter 2026 Results

 

Q2 revenue increased 41% year-over-year to a record $229 million, driven by robust marketplace growth.
Q2 marketplace revenue growth accelerated to 45% year-over-year, driven by expanding networks of buyers and suppliers and increasing wallet share.
Q2 gross profit increased 34% year-over-year to a record $87.2 million, driven by strong marketplace growth.
Q2 Adjusted EBITDA improved $10.2 million year-over-year to Adjusted EBITDA of $14.1 million, driven by strong marketplace gross profit growth and significant operating expense leverage.
Strong operating results were driven by consistent execution across growth initiatives: establishing Xometry as the infrastructure for custom manufacturing, improving our AI-native marketplace experiences, expanding buyer and supplier networks, deepening enterprise engagement and leveraging services opportunities.

 

 

NORTH BETHESDA, MD., August 4, 2026 /Globe Newswire/-- Xometry, Inc. (NASDAQ: XMTR), the global AI-native marketplace connecting buyers and suppliers of custom manufacturing, today announced its financial results for the second quarter ended June 30, 2026.

“Our product-led growth strategy drove record results in the second quarter, accelerating marketplace growth to 45% year-over-year. We further improved our proprietary AI models and marketplace experience, driving strong buyer growth and increasing wallet share in larger accounts,” said Sanjeev Singh Sahni, CEO at Xometry. “We continue to strengthen Xometry’s position as the infrastructure for custom manufacturing. This foundation is enabling us to rapidly penetrate the vast, fragmented offline market and accelerate our market share gains.”

“Revenue growth accelerated for the fourth quarter in a row in Q2. This accelerating top line was paired with yet another quarter of improved adjusted EBITDA profit margins, up 380 points year-over-year to 6.2%,” said James Miln, CFO at Xometry. “Our successful equity offering in June further strengthened our balance sheet, ending Q2 with $517 million in cash and cash equivalents.”

Second Quarter 2026 Financial Highlights

Total revenue for the second quarter of 2026 was $229 million, an increase of 41% year-over-year.
Marketplace revenue for the second quarter of 2026 was $215 million, an increase of 45% year-over-year.
Marketplace Active Buyers increased 20% from 74,777 as of June 30, 2025 to 89,557 as of June 30, 2026.
Marketplace Accounts with Last Twelve-Months Spend of at least $50,000 increased 23% from 1,653 as of June 30, 2025 to 2,039 as of June 30, 2026.
Services revenue for the second quarter of 2026 was $13.9 million, up slightly quarter-over-quarter.
Net loss attributable to common stockholders for the second quarter of 2026 was $5.3 million.
Adjusted EBITDA for the second quarter of 2026 was $14.1 million, reflecting an improvement of $10.2 million year-over-year.
Non-GAAP net income for the second quarter of 2026 was $9.9 million, as compared to a Non-GAAP net income of $1.1 million in the second quarter of 2025.

1


 

Cash, cash equivalents and marketable securities were $517 million as of June 30, 2026, an increase of $293 million from March 31, 2026, driven by $248 million in net proceeds from the offering of our Class A common stock and $50.0 million of proceeds from our private placement with Siemens.

Second Quarter 2026 Business Highlights:

Xometry launched an upgraded context-aware AI process recommender. Buyers get a manufacturing recommendation when they upload a part, providing them with the optimal process from among 20 supported manufacturing techniques.
Xometry introduced a new generation of cost-prediction models that price each part based on the specific parameters required to manufacture it. The models consider greater breadth and depth of inputs, including geometry, material, finish, and whether the part is a standalone part or one of several in a job.
Xometry launched new adaptive sourcing models that leverage a proprietary supplier data layer to price each job dynamically, moving quickly on well-understood jobs. The new models also incorporate an upgraded job-partner suitability that scores every job against a supplier partner's machine characteristics, quality history and on-time shipping record.
Xometry bolstered its U.S. injection molding capabilities, delivering enhanced accuracy and speed. Its process-recommendation intelligence automatically routes suitable parts, ensuring customers are guided to the right process every time. Additionally, Xometry offers dedicated manufacturing experts to schedule Design for Manufacturability (DFM) consultations on the platform. Xometry also launched self-serve reordering for injection molded parts to make reordering simple and seamless.
Xometry completed an equity follow-on offering, raising $248 million of net proceeds. The successful offering will support Xometry’s key organic growth initiatives and selective tuck-in M&A strategy.
Xometry launched the Xometry Foundation, an initiative dedicated to supporting STEM and manufacturing training programs that expand opportunity through education, community investment, and workforce development. The Foundation marks the next chapter of Xometry’s philanthropic journey, evolving its pledge to contribute 1% of company equity toward scholarships into a high-impact initiative with national and regional partnerships.

2


 

Financial Summary

(In thousands, except per share amounts)

(Unaudited)

 

 

For the Three Months
Ended June 30,

 

 

 

 

For the Six Months
Ended June 30,

 

 

 

 

 

2026

 

 

2025

 

 

% Change

 

2026

 

 

2025

 

 

% Change

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

229,280

 

 

$

162,547

 

 

41%

 

$

434,419

 

 

$

313,518

 

 

39%

Gross profit

 

 

87,153

 

 

 

65,176

 

 

34%

 

 

165,642

 

 

 

121,507

 

 

36%

Net loss attributable to common stockholders

 

 

(5,313

)

 

 

(26,434

)

 

80%

 

 

(10,580

)

 

 

(41,512

)

 

75%

EPS, basic and diluted, of Class A and Class B common stock

 

 

(0.10

)

 

 

(0.52

)

 

81%

 

 

(0.20

)

 

 

(0.82

)

 

76%

Adjusted EBITDA(1)

 

 

14,143

 

 

 

3,926

 

 

260%

 

 

24,629

 

 

 

4,004

 

 

515%

Non-GAAP net income (loss)(1)

 

 

9,913

 

 

 

1,076

 

 

821%

 

 

16,802

 

 

 

(1,446

)

 

1,262%

Non-GAAP EPS, basic(1), of Class A and Class B common stock

 

 

0.18

 

 

 

0.02

 

 

800%

 

 

0.32

 

 

 

(0.03

)

 

1,167%

Non-GAAP EPS, diluted(1), of Class A and Class B common stock

 

 

0.16

 

 

 

0.02

 

 

700%

 

 

0.28

 

 

 

(0.03

)

 

1,033%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marketplace

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

215,369

 

 

$

148,223

 

 

45%

 

$

406,688

 

 

$

284,576

 

 

43%

Cost of revenue

 

 

140,609

 

 

 

95,759

 

 

47%

 

 

265,481

 

 

 

188,805

 

 

41%

Gross Profit

 

$

74,760

 

 

$

52,464

 

 

42%

 

$

141,207

 

 

$

95,771

 

 

47%

Gross Margin

 

 

34.7

%

 

 

35.4

%

 

(0.7)%

 

 

34.7

%

 

 

33.7

%

 

1.0%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

13,911

 

 

$

14,324

 

 

(3)%

 

$

27,731

 

 

$

28,942

 

 

(4)%

Cost of revenue

 

 

1,518

 

 

 

1,612

 

 

(6)%

 

 

3,296

 

 

 

3,206

 

 

3%

Gross Profit

 

$

12,393

 

 

$

12,712

 

 

(3)%

 

$

24,435

 

 

$

25,736

 

 

(5)%

Gross Margin

 

 

89.1

%

 

 

88.7

%

 

0.4%

 

 

88.1

%

 

 

88.9

%

 

(0.8)%

(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 June 30,

 

 

 

 

 

 

2026

 

 

2025

 

 

%
Change

 

 

 

 

 

 

 

 

 

 

 

Active Buyers(3)

 

 

89,557

 

 

 

74,777

 

 

 

20

%

Percentage of Revenue from Existing Accounts(3)

 

 

98

%

 

 

98

%

 

 

 

Accounts with Last Twelve-Months Spend of at Least $50,000(3)

 

 

2,039

 

 

 

1,653

 

 

 

23

%

 

(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 and Accounts with Last Twelve-Months Spend of at Least $50,000 are as of June 30, 2026 and 2025, and Percentage of Revenue from Existing Accounts is presented for the quarters ended June 30, 2026 and 2025.

Financial Guidance and Outlook:

 

 

Q3 2026

 

 

 

(in millions)

 

 

 

Low

 

 

High

 

Revenue

 

$

234

 

 

$

236

 

Adjusted EBITDA

 

$

16

 

 

$

17

 

For Q3 2026, we expect revenue of $234-$236 million, representing 30-31% growth year-over-year driven by approximately 33% marketplace growth.
For Q3 2026, we expect Adjusted EBITDA of $16-$17 million, an improvement from Adjusted EBITDA of $6.1 million in Q3 2025.

3


 

For Full Year 2026, we are raising our revenue growth outlook from previous guidance of 27-28% to 33-34% driven by approximately 37% marketplace growth.
For Full Year 2026, we expect Adjusted EBITDA of $60-$62 million, an improvement from an Adjusted EBITDA of $18.5 million in Full Year 2025.

 

Xometry’s third quarter and full year 2026 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, (provision) benefit 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.

Change in Non-GAAP Financial Measure

Effective January 1, 2026, we revised our definition of Non-GAAP Net Income (Loss) to exclude depreciation expense which had previously been included as an adjustment. Management believes this revised definition provides a more representative view of our core operating performance. All prior-period amounts have been recast to conform to this new definition.

4


 

 

Key Terms for our Key Metrics and Non-GAAP Financial Measures

Marketplace revenue: includes the sale of parts and assemblies on our platform.

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, provision for (benefit from) income taxes, stock-based compensation, payroll tax expense related to stock-based compensation, charitable contributions of common stock, income from unconsolidated joint venture, 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 stock-based compensation, payroll tax expense related to stock-based compensation, amortization of lease intangible, amortization of deferred costs on convertible notes, charitable contributions of common stock, lease termination, restructuring charges, loss on debt extinguishment, amortization of acquired intangible assets & patents, other amortization 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.

5


 

About Xometry

Xometry’s (NASDAQ: XMTR) AI-native 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 Information

The Company will host a conference call and webcast to discuss the results at 8:30 a.m. ET (5:30 a.m. PT) on August 4, 2026. In addition to its press release announcing its second quarter 2026 financial results, Xometry will release an earnings presentation, which will be available on its investor website at investors.xometry.com.

Xometry, Inc. Second Quarter 2026 Earnings Presentation and Conference Call

Tuesday, August 4, 2026
8:30 a.m. Eastern / 5:30 a.m. Pacific
To access the webcast use the following link: https://register-conf.media-server.com/register
You 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 Statements

This 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 third quarter of 2026 and the full year 2026; 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, 2025, 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 Milne

VP Investor Relations

240-335-8132

shawn.milne@xometry.com

Lauran Cacciatori

VP Communications

773-610-0806

lauran.cacciatori@xometry.com

 

 

 

6


 

Xometry, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(In thousands, except share and per share data)

(Unaudited)

 

 

June 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

Assets

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

   Cash and cash equivalents

 

$

21,753

 

 

$

14,996

 

   Marketable securities

 

 

494,916

 

 

 

204,145

 

   Accounts receivable, less allowance for credit losses of $8.6 million and $8.0 million as of
   June 30, 2026 and December 31, 2025, respectively

 

 

130,299

 

 

 

97,370

 

   Inventory

 

 

3,878

 

 

 

3,917

 

   Prepaid expenses

 

 

8,190

 

 

 

7,262

 

   Other current assets

 

 

13,411

 

 

 

6,954

 

     Total current assets

 

 

672,447

 

 

 

334,644

 

   Software development and property and equipment, net

 

 

79,754

 

 

 

60,631

 

   Operating lease right-of-use assets

 

 

10,089

 

 

 

11,132

 

   Investment in unconsolidated joint venture

 

 

4,170

 

 

 

4,069

 

   Intangible assets, net

 

 

26,954

 

 

 

28,563

 

   Goodwill

 

 

263,491

 

 

 

263,801

 

   Other assets

 

 

904

 

 

 

880

 

     Total assets

 

$

1,057,809

 

 

$

703,720

 

Liabilities and stockholders’ equity

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

   Accounts payable and accrued cost of revenue

 

$

70,620

 

 

$

44,612

 

   Other accrued expenses

 

 

36,817

 

 

 

31,669

 

   Contract liabilities

 

 

13,528

 

 

 

10,319

 

   Income taxes payable

 

 

273

 

 

 

269

 

   Convertible notes, current portion

 

 

85,482

 

 

 

 

   Operating lease liabilities, current portion

 

 

2,523

 

 

 

2,067

 

     Total current liabilities

 

 

209,243

 

 

 

88,936

 

   Convertible notes, net of current portion

 

 

243,174

 

 

 

327,514

 

   Operating lease liabilities, net of current portion

 

 

8,590

 

 

 

9,841

 

   Deferred income taxes

 

 

133

 

 

 

145

 

   Other liabilities

 

 

493

 

 

 

547

 

     Total liabilities

 

 

461,633

 

 

 

426,983

 

Commitments and contingencies

 

 

 

 

 

 

Stockholders’ equity

 

 

 

 

 

 

   Preferred stock, $0.000001 par value. Authorized; 50,000,000 shares; zero shares issued
   and outstanding as of June 30, 2026 and December 31, 2025

 

 

 

 

 

 

   Class A common stock, $0.000001 par value. Authorized; 750,000,000 shares; 55,562,067
   shares and 49,842,220 shares issued and outstanding as of June 30, 2026 and December
   31, 2025, respectively

 

 

 

 

 

 

   Class B common stock, $0.000001 par value. Authorized; 5,000,000 shares; 1,475,311
   shares issued and outstanding as of June 30, 2026 and December 31, 2025

 

 

 

 

 

 

   Additional paid-in capital

 

 

1,041,497

 

 

 

710,925

 

   Treasury stock, at cost, 220,994 shares as of June 30, 2026 and December 31, 2025

 

 

(8,080

)

 

 

(8,080

)

   Accumulated other comprehensive income

 

 

4,202

 

 

 

4,772

 

   Accumulated deficit

 

 

(442,596

)

 

 

(432,016

)

Total stockholders’ equity

 

 

595,023

 

 

 

275,601

 

     Noncontrolling interest

 

 

1,153

 

 

 

1,136

 

     Total equity

 

 

596,176

 

 

 

276,737

 

Total liabilities and stockholders’ equity

 

$

1,057,809

 

 

$

703,720

 

 

7


 

Xometry, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations and Comprehensive Loss

(In thousands, except share and per share amounts)

(Unaudited)

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

229,280

 

 

$

162,547

 

 

$

434,419

 

 

$

313,518

 

Cost of revenue

 

 

142,127

 

 

 

97,371

 

 

 

268,777

 

 

 

192,011

 

     Gross profit

 

 

87,153

 

 

 

65,176

 

 

 

165,642

 

 

 

121,507

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

   Sales and marketing

 

 

33,586

 

 

 

29,781

 

 

 

65,553

 

 

 

56,216

 

   Operations and support

 

 

21,409

 

 

 

17,732

 

 

 

41,068

 

 

 

34,822

 

   Product development

 

 

12,980

 

 

 

11,008

 

 

 

24,408

 

 

 

22,179

 

   General and administrative

 

 

24,723

 

 

 

16,945

 

 

 

45,376

 

 

 

33,971

 

Total operating expenses

 

 

92,698

 

 

 

75,466

 

 

 

176,405

 

 

 

147,188

 

     Loss from operations

 

 

(5,545

)

 

 

(10,290

)

 

 

(10,763

)

 

 

(25,681

)

Other (expenses) income

 

 

 

 

 

 

 

 

 

 

 

 

   Interest expense

 

 

(1,258

)

 

 

(1,182

)

 

 

(2,517

)

 

 

(2,370

)

   Interest and dividend income

 

 

2,597

 

 

 

2,174

 

 

 

4,382

 

 

 

4,451

 

   Other expenses

 

 

(1,009

)

 

 

(17,365

)

 

 

(1,473

)

 

 

(18,245

)

   Income from unconsolidated joint venture

 

 

255

 

 

 

218

 

 

 

401

 

 

 

324

 

Total other income (expenses)

 

 

585

 

 

 

(16,155

)

 

 

793

 

 

 

(15,840

)

     Loss before income taxes

 

 

(4,960

)

 

 

(26,445

)

 

 

(9,970

)

 

 

(41,521

)

   (Provision) benefit for income taxes

 

 

(354

)

 

 

8

 

 

 

(602

)

 

 

8

 

     Net loss

 

 

(5,314

)

 

 

(26,437

)

 

 

(10,572

)

 

 

(41,513

)

Net (loss) income attributable to noncontrolling interest

 

 

(1

)

 

 

(3

)

 

 

8

 

 

 

(1

)

     Net loss attributable to common stockholders

 

$

(5,313

)

 

$

(26,434

)

 

$

(10,580

)

 

$

(41,512

)

Net loss per share, basic and diluted, of Class A and Class B common stock

 

$

(0.10

)

 

$

(0.52

)

 

$

(0.20

)

 

$

(0.82

)

Weighted-average number of shares outstanding used to compute net loss per share, basic and diluted, of Class A and Class B common stock

 

 

54,220,463

 

 

 

50,699,914

 

 

 

53,072,865

 

 

 

50,518,492

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(5,314

)

 

$

(26,437

)

 

$

(10,572

)

 

$

(41,513

)

Comprehensive loss:

 

 

 

 

 

 

 

 

 

 

 

 

   Foreign currency translation

 

 

130

 

 

 

3,066

 

 

 

(561

)

 

 

4,586

 

   Total other comprehensive income (loss)

 

 

130

 

 

 

3,066

 

 

 

(561

)

 

 

4,586

 

Comprehensive loss

 

 

(5,184

)

 

 

(23,371

)

 

 

(11,133

)

 

 

(36,927

)

Comprehensive income (loss) attributable to noncontrolling interest

 

 

4

 

 

 

(13

)

 

 

17

 

 

 

(24

)

Total comprehensive loss attributable to common stockholders

 

$

(5,188

)

 

$

(23,358

)

 

$

(11,150

)

 

$

(36,903

)

 

 

8


 

Xometry, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

 

 

 

Six Months Ended
June 30,

 

 

 

2026

 

 

2025

 

Cash flows from operating activities:

 

 

 

 

 

 

Net loss

 

$

(10,572

)

 

$

(41,513

)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

   Depreciation and amortization

 

 

10,767

 

 

 

8,741

 

   Reduction in carrying amount of right-of-use asset

 

 

1,175

 

 

 

2,212

 

   Lease termination

 

 

 

 

 

(30

)

   Stock-based compensation

 

 

19,673

 

 

 

15,237

 

   Income from unconsolidated joint venture

 

 

(101

)

 

 

(90

)

   Donation of common stock

 

 

2,637

 

 

 

1,130

 

   Loss on debt extinguishment

 

 

 

 

 

16,430

 

   Amortization of deferred costs on convertible notes

 

 

1,142

 

 

 

937

 

   Deferred tax benefit

 

 

(12

)

 

 

(23

)

Changes in other assets and liabilities:

 

 

 

 

 

 

   Accounts receivable, net

 

 

(33,314

)

 

 

(13,505

)

   Inventory

 

 

(23

)

 

 

(572

)

   Prepaid expenses

 

 

(935

)

 

 

(118

)

   Other assets

 

 

(6,356

)

 

 

(59

)

   Accounts payable and accrued cost of revenue

 

 

25,658

 

 

 

6,361

 

   Other accrued expenses

 

 

5,520

 

 

 

1,994

 

   Contract liabilities

 

 

3,263

 

 

 

2,050

 

   Lease liabilities

 

 

(930

)

 

 

(3,170

)

   Other liabilities

 

 

(54

)

 

 

(22

)

   Income taxes payable

 

 

4

 

 

 

(108

)

     Net cash provided by (used in) operating activities

 

 

17,542

 

 

 

(4,118

)

Cash flows from investing activities:

 

 

 

 

 

 

   Purchases of marketable securities

 

 

(326,771

)

 

 

(4,438

)

   Proceeds from sale of marketable securities

 

 

36,000

 

 

 

13,000

 

   Capitalization of software development and purchases of property and equipment

 

 

(23,960

)

 

 

(12,462

)

   Distributions in excess of earnings

 

 

 

 

 

66

 

     Net cash used in investing activities

 

 

(314,731

)

 

 

(3,834

)

Cash flows from financing activities:

 

 

 

 

 

 

   Proceeds from issuance of convertible notes

 

 

 

 

 

250,000

 

   Costs incurred in connection with issuance of convertible notes

 

 

 

 

 

(7,822

)

   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

 

 

5,896

 

 

 

1,415

 

   Proceeds from issuance of common stock, net of underwriters' discount

 

 

248,400

 

 

 

 

   Payment of costs related to issuance of common stock

 

 

(315

)

 

 

 

   Proceeds from issuance of common stock under Siemens agreement

 

 

50,000

 

 

 

 

     Net cash provided by financing activities

 

 

303,981

 

 

 

2,046

 

Effect of foreign currency translation on cash and cash equivalents

 

 

(35

)

 

 

425

 

Net increase (decrease) in cash and cash equivalents

 

 

6,757

 

 

 

(5,481

)

Cash and cash equivalents at beginning of the period

 

 

14,996

 

 

 

22,232

 

Cash and cash equivalents at end of the period

 

$

21,753

 

 

$

16,751

 

Supplemental cash flow information:

 

 

 

 

 

 

   Cash paid for interest

 

$

1,367

 

 

$

2,171

 

   Cash paid for income taxes

 

 

562

 

 

 

 

Non-cash investing and financing activities:

 

 

 

 

 

 

   Stock-based compensation included in capitalized software development costs

 

 

4,733

 

 

 

 

   Non-cash consideration in connection with business combination

 

 

 

 

 

625

 

   Non-cash costs incurred in connection with the issuance of convertible notes

 

 

 

 

 

791

 

   Non-cash purchase of property and equipment

 

 

 

 

 

61

 

   Non-cash costs associated with common stock offering

 

 

452

 

 

 

 

 

9


 

Xometry, Inc. and Subsidiaries

Reconciliations of Non-GAAP Financial Measures

(In thousands, except share and per share amounts)

(Unaudited)

 

 

For the Three Months
Ended June 30,

 

 

For the Six Months
Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Adjusted EBITDA:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(5,314

)

 

$

(26,437

)

 

$

(10,572

)

 

$

(41,513

)

Add (deduct):

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, interest and dividend income and other expenses

 

 

(330

)

 

 

16,373

 

 

 

(392

)

 

 

16,164

 

Depreciation and amortization(1)

 

 

5,836

 

 

 

4,495

 

 

 

10,767

 

 

 

8,741

 

Amortization of lease intangible

 

 

 

 

 

180

 

 

 

 

 

 

360

 

Provision (benefit) for income taxes

 

 

354

 

 

 

(8

)

 

 

602

 

 

 

(8

)

Stock-based compensation(2)

 

 

11,346

 

 

 

7,895

 

 

 

19,673

 

 

 

15,237

 

Payroll tax expense related to stock-based compensation

 

 

459

 

 

 

261

 

 

 

2,064

 

 

 

1,734

 

Acquisition and other(3)

 

 

281

 

 

 

676

 

 

 

281

 

 

 

927

 

Charitable contribution of common stock

 

 

1,811

 

 

 

614

 

 

 

2,637

 

 

 

1,130

 

Income from unconsolidated joint venture

 

 

(255

)

 

 

(218

)

 

 

(401

)

 

 

(324

)

Restructuring charges(4)

 

 

(45

)

 

 

95

 

 

 

(30

)

 

 

1,556

 

Adjusted EBITDA

 

$

14,143

 

 

$

3,926

 

 

$

24,629

 

 

$

4,004

 

 

 

 

For the Three Months
Ended June 30,

 

 

For the Six Months
Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Non-GAAP Net Income (Loss):

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(5,314

)

 

$

(26,437

)

 

$

(10,572

)

 

$

(41,513

)

Add (deduct):

 

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation(2)

 

 

11,346

 

 

 

7,895

 

 

 

19,673

 

 

 

15,237

 

Payroll tax expense related to stock-based compensation

 

 

459

 

 

 

261

 

 

 

2,064

 

 

 

1,734

 

Amortization of lease intangible

 

 

 

 

 

180

 

 

 

 

 

 

360

 

Amortization of deferred costs on convertible notes

 

 

571

 

 

 

472

 

 

 

1,142

 

 

 

937

 

Acquisition and other(3)

 

 

281

 

 

 

676

 

 

 

281

 

 

 

927

 

Charitable contribution of common stock

 

 

1,811

 

 

 

614

 

 

 

2,637

 

 

 

1,130

 

Lease termination

 

 

 

 

 

 

 

 

 

 

 

(30

)

Restructuring charges(4)

 

 

(45

)

 

 

95

 

 

 

(30

)

 

 

1,556

 

Loss on debt extinguishment

 

 

 

 

 

16,430

 

 

 

 

 

 

16,430

 

Amortization of acquired intangible assets & patents(5)

 

 

804

 

 

 

803

 

 

 

1,607

 

 

 

1,607

 

Other amortization(5)

 

 

 

 

 

87

 

 

 

 

 

 

179

 

Non-GAAP Net Income (Loss)

 

$

9,913

 

 

$

1,076

 

 

$

16,802

 

 

$

(1,446

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjustments to numerator

 

$

540

 

 

$

74

 

 

$

1,080

 

 

$

 

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

 

 

54,220,463

 

 

 

50,699,914

 

 

 

53,072,865

 

 

 

50,518,492

 

Non-GAAP effect of potentially dilutive Class A common stock

 

 

9,976,791

 

 

 

3,447,896

 

 

 

9,806,126

 

 

 

 

Non-GAAP weighted-average shares used to compute Non-GAAP Net Income (Loss) per share, diluted

 

 

64,197,254

 

 

 

54,147,810

 

 

 

62,878,991

 

 

 

50,518,492

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EPS, basic and diluted, of Class A and Class B common stock

 

$

(0.10

)

 

$

(0.52

)

 

$

(0.20

)

 

$

(0.82

)

Non-GAAP EPS basic, of Class A and Class B common stock

 

$

0.18

 

 

$

0.02

 

 

$

0.32

 

 

$

(0.03

)

Non-GAAP EPS diluted, of Class A and Class B common stock

 

$

0.16

 

 

$

0.02

 

 

$

0.28

 

 

$

(0.03

)

 

 

(1)
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.
(2)
Represents the non-cash expense related to stock-based awards granted to employees, as included in the Company’s GAAP results of operations.
(3)
Includes adjustments related to purchase accounting, the revaluation of contingent consideration, transaction costs and executive severance.
(4)
Costs associated with the 2025 reduction in workforce.
(5)
In the first quarter of 2026, we changed the definition of Non-GAAP Net Income (Loss) to exclude depreciation expense. Prior period amounts were recast to conform to the new definition.

 

10


 

Xometry, Inc. and Subsidiaries

Reconciliation of GAAP EPS to Non-GAAP EPS

(Unaudited)

 

 

For the Three Months
Ended June 30,

 

 

For the Six Months
Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Non-GAAP EPS:

 

 

 

 

 

 

 

 

 

 

 

 

GAAP EPS, diluted, of Class A and Class B common stock

 

$

(0.10

)

 

$

(0.52

)

 

$

(0.20

)

 

$

(0.82

)

Non-GAAP effect of potentially dilutive Class A common stock

 

 

0.02

 

 

 

0.05

 

 

 

0.05

 

 

 

 

Add (deduct):

 

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

0.18

 

 

 

0.15

 

 

 

0.31

 

 

 

0.30

 

Payroll tax expense related to stock-based compensation

 

 

0.01

 

 

 

 

 

 

0.03

 

 

 

0.03

 

Amortization of lease intangible

 

 

 

 

 

 

 

 

 

 

 

0.01

 

Amortization of deferred costs on convertible notes

 

 

0.01

 

 

 

0.01

 

 

 

0.02

 

 

 

0.02

 

Acquisition and other

 

 

 

 

 

0.01

 

 

 

 

 

 

0.02

 

Charitable contribution of common stock

 

 

0.03

 

 

 

0.01

 

 

 

0.04

 

 

 

0.02

 

Restructuring charges

 

 

 

 

 

 

 

 

 

 

 

0.03

 

Loss on debt extinguishment

 

 

 

 

 

0.30

 

 

 

 

 

 

0.33

 

Amortization of acquired intangible assets & patents

 

 

0.01

 

 

 

0.01

 

 

 

0.03

 

 

 

0.03

 

Non-GAAP EPS, diluted, of Class A and Class B common stock

 

$

0.16

 

 

$

0.02

 

 

$

0.28

 

 

$

(0.03

)

 

Xometry, Inc. and Subsidiaries

Segment Results

(In thousands)

(Unaudited)

 

 

For the Three Months
Ended June 30,

 

 

For the Six Months
Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Segment Revenue:

 

 

 

 

 

 

 

 

 

U.S.

 

$

194,749

 

 

$

135,733

 

 

$

366,966

 

 

$

263,553

 

International

 

 

34,531

 

 

 

26,814

 

 

 

67,453

 

 

 

49,965

 

Total revenue

 

$

229,280

 

 

$

162,547

 

 

$

434,419

 

 

$

313,518

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment Cost of Revenue:

 

 

 

 

 

 

 

 

 

U.S.

 

$

121,224

 

 

$

80,968

 

 

$

227,286

 

 

$

160,908

 

International

 

 

20,903

 

 

 

16,403

 

 

 

41,491

 

 

 

31,103

 

Total cost of revenue

 

$

142,127

 

 

$

97,371

 

 

$

268,777

 

 

$

192,011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment Adjusted EBITDA:

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

17,464

 

 

$

6,875

 

 

$

30,750

 

 

$

9,885

 

International

 

 

(3,321

)

 

 

(2,949

)

 

 

(6,121

)

 

 

(5,881

)

Total Adjusted EBITDA

 

$

14,143

 

 

$

3,926

 

 

$

24,629

 

 

$

4,004

 

 

11


 

Xometry, Inc. and Subsidiaries

Supplemental Information

(In thousands)

(Unaudited)

 

 

For the Three Months
Ended June 30,

 

 

For the Six Months
Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Summary of Stock-based Compensation Expense and Payroll Taxes Related to Stock-Based Compensation Expense

 

 

 

 

 

 

 

 

 

Sales and marketing

 

$

2,502

 

 

$

2,256

 

 

$

4,507

 

 

$

4,639

 

Operations and support

 

 

2,931

 

 

 

2,758

 

 

 

5,713

 

 

 

5,737

 

Product development

 

 

1,635

 

 

 

1,812

 

 

 

2,786

 

 

 

3,828

 

General and administrative

 

 

4,737

 

 

 

1,330

 

 

 

8,731

 

 

 

2,767

 

Total stock-based compensation expense and payroll taxes related to stock-based compensation

 

$

11,805

 

 

$

8,156

 

 

$

21,737

 

 

$

16,971

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Depreciation and Amortization Expense

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

$

182

 

 

$

185

 

 

$

358

 

 

$

366

 

Sales and marketing

 

 

785

 

 

 

792

 

 

 

1,580

 

 

 

1,586

 

Operations and support

 

 

36

 

 

 

43

 

 

 

69

 

 

 

82

 

Product development

 

 

4,703

 

 

 

3,144

 

 

 

8,293

 

 

 

6,137

 

General and administrative

 

 

130

 

 

 

331

 

 

 

467

 

 

 

570

 

Total depreciation and amortization expense

 

$

5,836

 

 

$

4,495

 

 

$

10,767

 

 

$

8,741

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Restructuring Charges

 

 

 

 

 

 

 

 

 

 

 

 

Sales and marketing

 

$

 

 

$

4

 

 

$

 

 

$

89

 

Operations and support

 

 

2

 

 

 

137

 

 

 

2

 

 

 

826

 

Product development

 

 

 

 

 

(35

)

 

 

2

 

 

 

499

 

General and administrative

 

 

(47

)

 

 

(11

)

 

 

(34

)

 

 

142

 

Total restructuring charges

 

$

(45

)

 

$

95

 

 

$

(30

)

 

 

1,556

 

 

12