Xometry, Inc.
Xometry, Inc. operates an AI-native online manufacturing marketplace that connects buyers of custom parts and assemblies with a distributed network of suppliers. The company also provides adjacent software and services, including Thomasnet, Workcenter, Teamspace, advertising, marketing, and financial services, to support industrial sourcing and supplier operations. It serves customers globally from its U.S. headquarters and international platform footprint.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueCustom manufacturing of parts and assemblies sourced through the Xometry platform.
Advertising, marketing, financial services, and SaaS tools sold to suppliers.
Products
Reported · share of revenue- Marketplace Revenue91.7 %
- Services8.3 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
Xometry sells to buyers that need custom-manufactured parts, assemblies, and production runs, including engineers, product designers, procurement teams, and supply chain professionals. On the supply side, it serves manufacturers and industrial service providers that use the platform to access demand, fill capacity, and manage workflows. Thomasnet also reaches industrial suppliers seeking digital marketing and sourcing visibility.
Large customers using Teamspace, punchout, and workflow integrations to source custom parts at scale.
Smaller industrial customers buying prototypes, one-off parts, and short-run production through instant quoting.
Machine shops and manufacturers that accept jobs, fill capacity, and use platform tools to manage operations.
Suppliers and industrial businesses buying marketing, advertising, and sourcing visibility through Thomasnet.
Strategy
Xometry’s strategy centers on improving its AI-driven pricing, sourcing, and placement engine so the marketplace becomes faster and more accurate for both buyers and suppliers. It is also expanding enterprise workflow tools such as Teamspace and punchout integrations, while extending its international platform and supplier network to deepen network effects. The company uses Thomasnet and Workcenter to broaden supplier relationships and create additional touchpoints beyond marketplace transactions.
Better quoting and matching improve buyer experience and supplier utilization.
Embedding into procurement systems increases repeat usage and retention.
A larger international network strengthens liquidity and matching efficiency.
Non-transaction services diversify monetization and strengthen supplier loyalty.
Geography
Q1/2026Xometry is headquartered in North Bethesda, Maryland and operates a global marketplace available in 18 languages. Its supplier network spans four continents, and the company has expanded into Europe, Asia, the United Kingdom, and Turkey to broaden buyer and supplier access. Geography matters because the business depends on matching local manufacturing capacity with cross-border demand while managing regulatory and trade exposure.
Share of the revenue the company reports by geography.
Risks
Xometry depends on continued growth in both buyer and supplier participation, so any slowdown in network expansion can weaken marketplace liquidity and matching quality. The business is also exposed to trade policy changes, cybersecurity and third-party technology risks, and the operational complexity of running a global platform across multiple jurisdictions. As an online manufacturing intermediary, it faces competition from local manufacturers, brokers, and digital manufacturing platforms that can pressure pricing and customer acquisition.
- Buyer and supplier network concentration riskImpact: HighLikelihood: Medium
The marketplace only works well when both sides of the platform remain active and balanced.
Exposure: Marketplace liquidity and repeat order flow
- Cybersecurity and third-party service disruptionImpact: HighLikelihood: Medium
The platform relies on cloud infrastructure and external providers to process sensitive data and orders.
Exposure - Trade policy and tariff changesImpact: MediumLikelihood: Medium
Custom manufacturing demand and sourcing decisions can shift when trade costs or restrictions change.
Exposure: Cross-border orders and international operations
- Competitive pressure from fragmented manufacturing alternativesImpact: MediumLikelihood: Medium
Buyers can source from local machine shops, brokers, and other digital platforms.
Exposure - International operating complexityImpact: MediumLikelihood: Medium
Operating across regions increases regulatory, tax, and execution risk.
Exposure
Accounting
Judgemental itemsMarketplace revenue and supplier services revenue are economically different and affect margin interpretation.
Impact: Revenue mix and gross profit analysis
Acquired assets must be tested for impairment and can create non-cash charges if assumptions weaken.
Impact: Balance sheet carrying values and earnings
Equity awards are a meaningful operating expense and are often adjusted in non-GAAP measures.
Impact: Operating expenses and non-GAAP reconciliation
Supplier services and marketplace receivables require judgment on collectability.
Impact: General and administrative expense and net assets
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Last updated: 24/09/2026