Xometry Reports Fourth Quarter and Full Year 2024 Results

Core Insights - Xometry, Inc. reported strong financial results for Q4 and full year 2024, highlighting significant marketplace growth and improved profitability metrics [2][5][11] Financial Highlights - Q4 2024 revenue reached $149 million, a 16% increase year-over-year, driven by a 20% growth in marketplace revenue [5][12] - Q4 gross profit was$ 59 million, up 20% year-over-year, with a record marketplace gross margin of 34.5%, reflecting a 320 basis point improvement [5][12] - Adjusted EBITDA for Q4 was a profit of $1 million, marking a$ 3.9 million improvement from the previous year [5][12] - For the full year 2024, marketplace revenue totaled $486 million, a 23% increase year-over-year, while supplier services revenue decreased by 13% to$ 59.6 million [11][12] Business Highlights - Active Buyers increased by 23% year-over-year, from 55,325 to 68,267, indicating strong customer engagement [6][13] - The number of Accounts with Last Twelve-Months Spend of at least $50,000 rose by 12%, from 1,331 to 1,495 [6][13] - The company expanded its supplier network by 28% year-over-year, growing from 3,429 to 4,375 suppliers [6][13] - Xometry retained key certifications for various industries, enhancing its capabilities for enterprise accounts [5][6] Operational Developments - The company launched new features for its marketplace and Teamspace enterprise collaboration software, enhancing user experience and operational efficiency [11][12] - Xometry expanded its international pricing and supplier base, particularly in key manufacturing regions like Turkey and India [5][6] - A new patent was received for the Xometry Instant Quoting Engine, further solidifying its technological edge in the marketplace [7] Financial Guidance - For Q1 2025, Xometry expects revenue between$ 147 million and $149 million, representing a year-over-year growth of 20-21% [21] - The company anticipates an Adjusted EBITDA loss of approximately$ 1.5 million for Q1 2025, an improvement from the previous year [21]