Leading the Future of Manufacturing Q3 2025 Earnings Presentation November 4, 2025 © 2025 Xometry and/or its affiliates. All rights reserved. Proprietary. Safe Harbor This presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding the Company's future results of operations, financial position and cash flows, expectations regarding its growth and margin expansion, including in international markets, ...

Revenue Growth - Q3 2025 revenue increased 28% year-over-year to a record $181 million, driven by robust marketplace growth[5] - Marketplace revenue for Q3 2025 was $167 million, an increase of 31% year-over-year[6] - Revenue for Q3 2025 was $180.7 million, a 27.5% increase from $141.7 million in Q3 2024[34] - For Q4 2025, revenue is expected to be between $182 million and $184 million, representing 23-24% growth year-over-year[13] - The company raised its full-year 2025 revenue guidance to $676 million to $678 million[14] - Total revenue for the nine months ended September 30, 2025, was $494,234,000, up 24.5% from $396,983,000 in 2024[45] - U.S. segment revenue for the nine months ended September 30, 2025, was $414,646,000, a 24.5% increase from $333,113,000 in 2024[45] - International segment revenue for the nine months ended September 30, 2025, was $79,588,000, up 24.6% from $63,870,000 in 2024[45] Profitability Metrics - Q3 Adjusted EBITDA improved by $6.8 million year-over-year to $6.1 million, reflecting strong operating expense leverage[5] - Non-GAAP net income for Q3 2025 was $6.2 million, compared to $1.1 million in Q3 2024, reflecting a 457% increase[6] - Gross profit for Q3 2025 was $72.0 million, compared to $55.8 million in Q3 2024, reflecting a gross margin improvement[34] - Adjusted EBITDA for the nine months ended September 30, 2025, was $10,146,000, compared to a loss of $10,725,000 in 2024, indicating a significant improvement[39] - Non-GAAP EPS diluted for the nine months ended September 30, 2025, was $0.22, compared to a loss of $0.11 in 2024[43] Expenses and Losses - Operating expenses for Q3 2025 were $83.1 million, up from $67.3 million in Q3 2024, driven by increased sales and marketing costs[34] - Net loss for Q3 2025 was $11.6 million, compared to a net loss of $10.2 million in Q3 2024, resulting in a net loss per share of $0.23[34] - For the nine months ended September 30, 2025, the net loss was $53,110,000 compared to a net loss of $40,507,000 for the same period in 2024, representing a 31% increase in losses[37] - The company incurred $16,430,000 in losses on debt extinguishment during the nine months ended September 30, 2025[39] Asset and Liability Changes - Total current assets increased to $341.1 million as of September 30, 2025, up from $327.5 million at the end of 2024[32] - Total liabilities rose to $425.8 million as of September 30, 2025, compared to $364.5 million at the end of 2024[32] - Cash and cash equivalents decreased to $20.8 million as of September 30, 2025, from $22.2 million at the end of 2024[32] - The cash and cash equivalents at the end of the period were $20,845,000, down from $53,424,000 at the beginning of the period[37] Operational Developments - Marketplace Active Buyers increased 21% from 64,851 as of September 30, 2024, to 78,282 as of September 30, 2025[6] - The new Workcenter mobile app was launched to enhance supplier management and communication within the Xometry partner network[8] - Xometry's marketplace continues to expand, leveraging AI to enhance the procurement process for manufacturers[28] Compensation and Expenses - The company reported stock-based compensation of $25,985,000 for the nine months ended September 30, 2025, compared to $21,115,000 in 2024, reflecting a 23% increase[39] - Total stock-based compensation expense and payroll taxes related to stock-based compensation for the nine months ended September 30, 2025, reached $28,085,000, an increase of 27.6% compared to $21,991,000 in the same period of 2024[46] - Total depreciation and amortization expense for Q3 2025 was $5,000,000, representing a 55.3% increase from $3,213,000 in Q3 2024[46] - Total restructuring charges for the nine months ended September 30, 2025, amounted to $1,464,000, with a significant increase from no charges reported in the same period of 2024[46] - Product development expenses for Q3 2025 were $2,583,000, a 67.4% increase from $1,543,000 in Q3 2024[46] - Operations and support expenses for Q3 2025 totaled $3,712,000, up 64.4% from $2,259,000 in Q3 2024[46] - General and administrative expenses for the nine months ended September 30, 2025, were $4,416,000, compared to $4,101,000 in the same period of 2024, reflecting a 7.7% increase[46] - Cost of revenue for the nine months ended September 30, 2025, was $550,000, slightly up from $549,000 in the same period of 2024[46] - Sales and marketing expenses for Q3 2025 were $3,170,000, up 65.7% from $1,913,000 in Q3 2024[46] - Sales and marketing depreciation for Q3 2025 was $799,000, nearly unchanged from $794,000 in Q3 2024[46] - Operations and support depreciation for the nine months ended September 30, 2025, was $129,000, an increase from $105,000 in the same period of 2024[46]

Core Insights - Xometry reported a record third quarter for 2025, with a 31% year-over-year growth in marketplace revenue, highlighting the increasing adoption of its supply chain solutions by enterprise customers [2][5][6] - The company achieved a gross margin of 35.7%, an increase of 210 basis points year-over-year, and an Adjusted EBITDA of $6.1 million, improving by $6.8 million compared to the previous year [2][5][6] - Xometry's revenue for Q3 2025 reached $181 million, a 28% increase from $142 million in Q3 2024, driven by strong marketplace growth and expanded buyer-supplier networks [5][7] Financial Highlights - Q3 2025 revenue was $181 million, up 28% year-over-year, with marketplace revenue specifically increasing by 31% to $167 million [5][6][7] - Gross profit for Q3 2025 was $72 million, a 29% increase from $56 million in Q3 2024, attributed to the record marketplace gross margin [5][7] - The net loss attributable to common stockholders for Q3 2025 was $11.6 million, compared to a loss of $10.2 million in Q3 2024 [6][7] Business Developments - Xometry launched the Workcenter mobile app, enhancing communication and operational management for suppliers within its network [4] - The company introduced auto-quotes for injection molding services in the U.S., streamlining the manufacturing process [9] - Xometry expanded its marketplace in the EU with new materials and faster lead times, including a parts library for easier management of part data [9] Key Operating Metrics - Active buyers increased by 21% year-over-year, from 64,851 to 78,282 [6][11] - Accounts with last twelve-months spend of at least $50,000 rose by 14%, from 1,506 to 1,724 [6][11] - The percentage of revenue from existing accounts was 98%, up from 97% [11] Financial Guidance - For Q4 2025, Xometry expects revenue between $182 million and $184 million, representing a year-over-year growth of 23-24% [12][16] - The full year 2025 revenue guidance has been raised to $676 million to $678 million, with Adjusted EBITDA guidance increased to $16 million to $17 million [12][16]

Group 1 - The article does not provide any specific information or insights regarding a company or industry [1]

Core Insights - Xometry has launched auto-quotes for injection molding services in the U.S., following a successful introduction in European markets earlier this year [1][2] Group 1: Product Offering - The new auto-quoting capability simplifies the injection molding manufacturing process, allowing customers to transition from design to finished part more efficiently [2] - Customers can now receive quotes in minutes instead of days, significantly reducing development and sourcing time [2] Group 2: Customer Benefits - The auto quoting feature provides immediate access to pricing and lead-time estimates, which are crucial for production processes [3] - By minimizing friction and wait times, the service aids engineers and procurement teams in making quicker, more informed decisions, thereby enhancing project momentum [3] Group 3: Company Overview - Xometry's AI-powered marketplace and cloud-based services are digitizing the manufacturing industry, providing essential resources for manufacturers and streamlining procurement for buyers [4]

Core Insights - Xometry, Inc. will report its Q3 2025 financial results on November 4, 2025, before market opens [1] - A conference call and webcast to discuss the results will take place at 8:30 a.m. ET on the same day [2] - An earnings presentation will accompany the financial results announcement and will be available on the Investor Relations website [2][3] Company Overview - Xometry operates an AI-powered marketplace that connects buyers and suppliers in the custom manufacturing sector [4] - The company is digitizing the manufacturing industry through its Thomasnet® industrial sourcing platform and cloud-based services [4] - Xometry provides essential resources for manufacturers to grow their business and enhances the procurement process for buyers with real-time pricing and lead time data [4]

Core Insights - Liberty Park Fund, LP's value increased by 1.13% in Q3 2025, underperforming the Russell 2000's 12.40% increase, with long positions contributing positively and shorts detracting significantly [2][4][21] - Liberty Park Select Opportunities, LP's value increased by 14.27% in the same period, indicating a strong performance in its investment strategy [3][21] - The Federal Reserve's interest rate cuts are expected to stimulate the economy, but have also inflated a bubble in speculative stocks, reminiscent of the dot-com bubble [4][10] Performance Analysis - Long positions saw a 14.42% increase, contributing 12.38% on a weight-adjusted basis, while shorts increased by 18.60%, detracting 10.85% [2][4] - The gross exposure for Liberty Park Fund averaged 142.48%, while net exposure averaged 33.61% [2][21] - Gross Pure Alpha for the quarter was -3.11%, indicating challenges in stock selection [2] Long Performance - Best-performing long positions included Xometry Inc (61.20% return), BK Technologies Corp (79.25% return), and Napco Security Technologies (45.13% return) [5] - Worst-performing long positions included Limbach Holdings Inc (-30.68% return), DMC Global Inc (-20.84% return), and Whirlpool Corp (-24.49% return) [6] Short Performance - The short portfolio faced significant pressure, with seven companies accounting for over half of the negative contribution, surging an average of 170% without fundamental changes [7] - These companies collectively have a market cap of $100 billion, reflecting unrealistic valuations based on 2026 revenue estimates [7] Portfolio Outlook - The investment environment is complex, with interest rate cuts expected to boost consumption while speculation in certain sectors has risen dramatically [10] - The fund's strategy is to remain invested in real economy, non-bubble names while being short on profitless hype [11] Adaptation and Strategy - The fund is considering single-name equity shorts as a core competency, but currently finds few attractive traditional economy shorts [12] - Options have been introduced for risk management, including long call and put positions to hedge against potential market corrections [13][14] Communication Changes - The fund will no longer disclose top positions or highlight individual investments in quarterly communications to protect proprietary research and focus on new initiatives [15][17]

Core Insights - Xometry, Inc. has launched the Workcenter Mobile App to enhance the management capabilities of suppliers within its partner network, allowing them to manage job offers, production workflows, and shop performance from anywhere [1][4]. Company Overview - Xometry operates an AI-powered marketplace that connects buyers and suppliers in custom manufacturing, providing critical resources to manufacturers and streamlining procurement processes through real-time pricing and lead time data [6]. Product Features - The Workcenter platform, introduced in 2022, serves as an all-in-one quote-to-cash solution for partners, enabling them to source work, manage operations, and monitor performance [2]. - The new mobile app allows partners to access the same functionalities as the desktop version, facilitating on-the-go management of jobs and operations [4]. User Experience - The app is designed to improve productivity by allowing partners to manage jobs and communicate while reducing downtime and speeding up workflows [8]. - It offers better support and engagement by providing seamless access to tools and support, ensuring partners remain connected with Xometry's support teams [8]. - Real-time communication features, such as push notifications, keep partners informed of critical updates and job opportunities [8]. - The app enhances data capture capabilities, allowing for photos, signatures, and status updates to be recorded directly, improving accuracy and responsiveness [8]. Availability - The Workcenter Mobile App is available for download on both the Apple App Store and Google Play [5].

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1][2]. Company Overview: Xometry (XMTR) - Xometry currently holds a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating strong potential for outperformance in the market [3][4]. - The company operates in the on-demand manufacturing sector, which shows promise as a solid momentum pick [4]. Price Performance - Over the past week, Xometry shares increased by 3.81%, while the Zacks Manufacturing - General Industrial industry saw a decline of 0.19% [6]. - In a longer timeframe, Xometry's shares have risen by 12.27% over the past month, significantly outperforming the industry's 0.75% [6]. - Over the last quarter, shares have surged by 47.59%, and over the past year, they have gained 197.62%, compared to the S&P 500's increases of 8.57% and 18.94%, respectively [7]. Trading Volume - Xometry's average 20-day trading volume is 768,045 shares, which serves as a bullish indicator when combined with rising stock prices [8]. Earnings Outlook - Recent earnings estimate revisions for Xometry have been positive, with three estimates moving higher for the current fiscal year, raising the consensus estimate from $0.30 to $0.35 [10]. - For the next fiscal year, four estimates have increased, with no downward revisions noted [10]. Conclusion - Considering the positive price trends, strong earnings outlook, and favorable trading volume, Xometry is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a compelling option for investors seeking near-term gains [12].

Group 1 - Xometry has consistently participated in the conference over the past few years, indicating strong engagement with the investment community [1] - The team from Xometry includes CEO Randy Altschuler, CFO James Miln, and Shawn Milne from the Investor Relations team, showcasing a robust leadership presence at the event [1]