second quarter 2026
Filed Aug 4, 2026Xometry Reports Record Second Quarter 2026 Results
Q2 revenue increased 41% year-over-year to a record $229 million, marketplace revenue grew 45%, gross profit increased 34% to a record $87.2 million, and Adjusted EBITDA improved $10.2 million year-over-year to $14.1 million. The company raised its full-year revenue growth outlook to 33-34%.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Consolidated RevenueGAAP | $229,280 (In thousands) | – | 41% |
| Gross profitGAAP | $87,153 (In thousands) | – | 34% |
| Net loss attributable to common stockholdersGAAP | $(5,313) (In thousands) | – | 80% |
| EPS, basic and diluted, of Class A and Class B common stockGAAP | $(0.10) | – | 81% |
| Adjusted EBITDAnon-GAAP | $14,143 (In thousands) | – | 260% |
| Adjusted EBITDA marginnon-GAAP | 6.2% | – | up 380 points year-over-year |
| Non-GAAP net incomenon-GAAP | $9,913 (In thousands) | – | 821% |
| Non-GAAP EPS, basic, of Class A and Class B common stocknon-GAAP | $0.18 | – | 800% |
| Non-GAAP EPS, diluted, of Class A and Class B common stocknon-GAAP | $0.16 | – | 700% |
| Marketplace cost of revenueGAAP | $140,609 (In thousands) | – | 47% |
| Marketplace gross profitGAAP | $74,760 (In thousands) | – | 42% |
| Marketplace gross marginGAAP | 34.7% | – | (0.7)% |
| Services cost of revenueGAAP | $1,518 (In thousands) | – | (6)% |
| Services gross profitGAAP | $12,393 (In thousands) | – | (3)% |
| Services gross marginGAAP | 89.1% | – | 0.4% |
| Marketplace Active Buyersother | 89,557 | – | 20 % |
| Percentage of Revenue from Existing Accountsother | 98 % | – | – |
| Marketplace Accounts with Last Twelve-Months Spend of at Least $50,000other | 2,039 | – | 23 % |
| Six Months Consolidated RevenueGAAP | $434,419 (In thousands) | – | 39% |
| Six Months Gross profitGAAP | $165,642 (In thousands) | – | 36% |
| Six Months Net loss attributable to common stockholdersGAAP | $(10,580) (In thousands) | – | 75% |
| Six Months EPS, basic and diluted, of Class A and Class B common stockGAAP | $(0.20) | – | 76% |
| Six Months Adjusted EBITDAnon-GAAP | $24,629 (In thousands) | – | 515% |
| Six Months Non-GAAP net income (loss)non-GAAP | $16,802 (In thousands) | – | 1,262% |
| Six Months Non-GAAP EPS, basic, of Class A and Class B common stocknon-GAAP | $0.32 | – | 1,167% |
| Six Months Non-GAAP EPS, diluted, of Class A and Class B common stocknon-GAAP | $0.28 | – | 1,033% |
| Six Months Marketplace cost of revenueGAAP | $265,481 (In thousands) | – | 41% |
| Six Months Marketplace gross profitGAAP | $141,207 (In thousands) | – | 47% |
| Six Months Marketplace gross marginGAAP | 34.7% | – | 1.0% |
| Six Months Services cost of revenueGAAP | $3,296 (In thousands) | – | 3% |
| Six Months Services gross profitGAAP | $24,435 (In thousands) | – | (5)% |
| Six Months Services gross marginGAAP | 88.1% | – | (0.8)% |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| MarketplaceDriven by expanding networks of buyers and suppliers and increasing wallet share. | $215,369 (In thousands) | – | 45% |
| ServicesNo quantitative operating driver was provided. | $13,911 (In thousands) | up slightly quarter-over-quarter | (3)% |
Q3 2026 and Full Year 2026 outlook
- RevenueQ3 2026: $234-$236 million; Full Year 2026: 33-34% revenue growth
- NoteQ3 2026 Adjusted EBITDA: $16-$17 million
- NoteQ3 2026 revenue growth: 30-31% growth year-over-year
- NoteQ3 2026 marketplace growth: approximately 33%
- NoteFull Year 2026 marketplace growth: approximately 37%
- NoteFull Year 2026 Adjusted EBITDA: $60-$62 million
- NoteQ3 2025 Adjusted EBITDA: $6.1 million
- NoteFull Year 2025 Adjusted EBITDA: $18.5 million
- NoteFull Year 2026 revenue growth outlook raised from previous guidance of 27-28% to 33-34%
What drove it
- Robust marketplace growth.
- Expanding networks of buyers and suppliers and increasing wallet share.
- Improved proprietary AI models and marketplace experience drove strong buyer growth and increasing wallet share in larger accounts.
- Strong marketplace gross profit growth and significant operating expense leverage.
- New context-aware AI process recommender, cost-prediction models and adaptive sourcing models.
- Enhanced U.S. injection molding capabilities, including process-recommendation intelligence, Design for Manufacturability consultations and self-serve reordering.
Concerns
- Services revenue was $13,911 (In thousands), down (3)% year-over-year.
- Marketplace gross margin was 34.7%, compared with 35.4% in the prior-year quarter.
- The company reported a net loss attributable to common stockholders of $(5,313) (In thousands).
- Q3 2026 revenue guidance calls for 30-31% growth year-over-year, with approximately 33% marketplace growth.
What to watch
- Execution against Q3 2026 revenue guidance of $234-$236 million and Adjusted EBITDA guidance of $16-$17 million.
- Marketplace growth expected to be approximately 33% in Q3 2026.
- Delivery of the raised Full Year 2026 revenue growth outlook of 33-34% and approximately 37% marketplace growth.
- Delivery of Full Year 2026 Adjusted EBITDA of $60-$62 million.
- Marketplace gross-margin progression following Q2 gross margin of 34.7%.
- Use of the $248 million net proceeds from the equity offering for organic growth initiatives and selective tuck-in M&A strategy.
Balance sheet and cash flow
- Cash, cash equivalents and marketable securities were $517 million as of June 30, 2026.
- Cash, cash equivalents and marketable securities increased $293 million from March 31, 2026.
- $248 million in net proceeds from the offering of Class A common stock.
- $50.0 million of proceeds from the private placement with Siemens.
Analysis
Xometry reported record Q2 revenue of $229 million, up 41% year-over-year, led by $215 million of marketplace revenue, which grew 45%. Marketplace Active Buyers rose 20% to 89,557, while accounts with last-twelve-months spend of at least $50,000 increased 23% to 2,039. Percentage of revenue from existing accounts was 98%, unchanged from the prior-year quarter, supporting management's emphasis on wallet-share expansion in larger accounts.
Gross profit increased 34% to a record $87.2 million. Marketplace gross profit rose 42% to $74.8 million, although marketplace gross margin was 34.7% versus 35.4% in the prior-year quarter. Services revenue was $13.9 million, down 3% year-over-year, while services gross margin increased to 89.1% from 88.7%. The revenue mix and margin figures make marketplace growth and its gross-margin trajectory central to the next quarter's execution.
Profitability improved materially. Adjusted EBITDA was $14.1 million, compared with $3.9 million in the prior-year quarter, and management cited strong marketplace gross-profit growth and significant operating-expense leverage. Adjusted EBITDA margin was 6.2%, up 380 points year-over-year. Non-GAAP net income was $9.9 million, compared with $1.1 million, while the company still reported a GAAP net loss attributable to common stockholders of $5.3 million.
The balance sheet expanded following financing activity. Cash, cash equivalents and marketable securities were $517 million at June 30, 2026, up $293 million from March 31, 2026, driven by $248 million of net proceeds from the Class A common-stock offering and $50.0 million from the Siemens private placement. The company said the equity offering will support organic growth initiatives and a selective tuck-in M&A strategy.
Guidance calls for Q3 revenue of $234-$236 million, representing 30-31% growth year-over-year and approximately 33% marketplace growth, with Adjusted EBITDA of $16-$17 million. For full-year 2026, Xometry raised its revenue-growth outlook from 27-28% to 33-34%, driven by approximately 37% marketplace growth, and expects Adjusted EBITDA of $60-$62 million. The key reported markers are the delivery of that raised growth outlook, ongoing adjusted EBITDA expansion, and marketplace gross-margin performance.
Management, verbatim
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.
Sanjeev Singh Sahni, CEO at Xometry
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%.
James Miln, CFO at Xometry
Not in the filing
stated, not guessed- GAAP operating income or loss and operating margin.
- Total consolidated gross margin.
- Operating cash flow and free cash flow.
- Debt balance and debt maturities.
- Share repurchases and dividends.
- Prior-quarter numerical comparisons for consolidated revenue, gross profit, net loss, EPS, Adjusted EBITDA and non-GAAP net income.
- Q3 2026 gross-margin, operating-expense and tax-rate guidance.
- Full Year 2026 revenue in dollar terms.
- A prior outlook document sufficient to compare Q2 actual results with prior guidance.
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.