Xometry (XMTR): Growth Accelerates as AI Drives Manufacturing Marketplace Gains

Xometry (NASDAQ: XMTR) reported a strong second quarter as its AI-native manufacturing marketplace continued to gain scale.

Q2 Highlights

• Revenue: $229M, up 41%

• Marketplace revenue: $215M, up 45%

• Gross profit: $87.2M, up 34%

• Adjusted EBITDA: $14.1M, up from $3.9M

• Adjusted EBITDA margin: 6.2%, up 380 bps

• Active buyers: 89,557, up 20%

• Large accounts ($50K+ annual spend): 2,039, up 23%

• Cash & marketable securities: $517M

This was Xometry's fourth consecutive quarter of accelerating revenue growth.

Management says improvements to its proprietary AI models are helping optimize pricing, conversion and customer acquisition while existing customers are spending more through the platform.

The operating leverage may be even more important.

Revenue increased 41%, while non-GAAP operating expenses increased only 19%. Adjusted EBITDA consequently increased from $3.9M to $14.1M.

Marketplace advertising expense also fell to a record-low 3.4% of marketplace revenue, another indication that Xometry may be becoming more efficient as its network scales.

Management Raises the Bar

Following the quarter, Xometry increased its full-year 2026 revenue growth outlook to 33%–34%, up from its previous expectation of 27%–28%.

Management now expects:

• Approximately 37% marketplace revenue growth

• $60M–$62M of adjusted EBITDA

• Continued marketplace gross-margin improvement during the second half

Why It Matters for Robotics

Xometry doesn't manufacture robots.

It provides something potentially just as important to the robotics ecosystem: digital manufacturing infrastructure.

Robotics, drones, autonomous vehicles and industrial automation all require enormous numbers of custom-machined components, prototypes and increasingly complex supply chains.

Xometry uses AI to connect those buyers with manufacturing capacity.

As automation and physical AI scale, the companies supplying the manufacturing infrastructure behind them may represent another way to participate in the robotics buildout.

XMTR Earnings Report	Growth	Efficiency
$229M Revenue	+41%
$215M Marketplace	+45%
89.6K Active Buyers	+20%
$14.1M Adj. EBITDA	+262%	6.2% margin
Operating Expenses	+19%	vs. revenue +41%