Abstract

Xometry, Inc. will report fourth-quarter 2025 results on February 24, 2026 Pre-Market; this preview outlines consensus expectations for revenue of $183.37 million and adjusted EPS of $0.11 alongside the latest cross-check of operating trends across the Marketplace and Supplier Services businesses.

Market Forecast

For the upcoming quarter, the market’s baseline view points to revenue of $183.37 million, up 25.27% year over year, with EBIT estimated at $12.27 million and adjusted EPS forecast at $0.11, implying 1,521.25% and 275.79% year-over-year increases, respectively. Forecasts for gross profit margin and net margin are not available within the consensus snapshots, but the earnings mix will be gauged against the prior quarter’s reported profitability profile.

The main business remains the Marketplace, which generated $166.59 million last quarter and is set to benefit from ongoing buyer activity and platform enhancements. Supplier Services delivered $14.12 million last quarter and, within a company-wide revenue growth backdrop of 27.54% year over year, is positioned to capture incremental demand tied to recent product rollouts.

Last Quarter Review

In the previous quarter, Xometry, Inc. reported revenue of $180.72 million, gross profit margin of 39.86%, a GAAP net loss attributable to the parent company of -$11.60 million with a net profit margin of -6.42%, and adjusted EPS of $0.11, reflecting year-over-year increases of 27.54% for revenue and 450.00% for adjusted EPS. One notable highlight was top-line execution, with revenue exceeding the prior estimate by $12.44 million, demonstrating stronger-than-anticipated activity on the platform.

From a business mix perspective, Marketplace contributed $166.59 million while Supplier Services contributed $14.12 million; the revenue split underscores the Marketplace’s centrality to quarterly performance against a backdrop of 27.54% year-over-year growth in total revenue.

Current Quarter Outlook (with major analytical insights)

Marketplace execution and revenue drivers

The Marketplace remains the determinant of quarterly variability, and the consensus revenue forecast of $183.37 million implies continued order flow through the platform. The last reported gross profit margin of 39.86% provides the baseline investors will use to assess mix and take-rate trends as larger, more complex orders cycle through. Product enhancements flagged in recent company communications are squarely oriented toward improving buyer discovery and conversion, which should support sustained throughput without relying solely on increased customer acquisition. The revenue outperformance in the prior quarter also suggests that buyer demand remained resilient through seasonally mixed periods, setting a constructive comparison for the present quarter. Internally driven efficiencies—such as algorithmic matching improvements, faster quoting, and expanded capabilities—can translate into modest operational leverage if order growth meets or exceeds expectations. The degree to which higher-value jobs, repeat enterprise buyers, and vertical-specific engagement (including complex-program sourcing) contribute this quarter will determine whether revenue growth skews toward higher-margin categories or leans more toward volume. Watch for signs that cycle times and fulfillment reliability continue to improve, as those factors tend to correlate with buyer retention and order frequency and can incrementally lift revenue per active buyer.

Supplier Services and Thomasnet monetization signals

Supplier Services, while smaller at $14.12 million last quarter, offers a complementary and potentially more margin-accretive path via subscriptions, advertising, and digital tools. The recent launch of feature upgrades such as performance-oriented listings and enhanced search capabilities for buyers is designed to strengthen supplier visibility and lead quality, which should over time translate into higher subscription conversion and retention. Because these offerings typically carry relatively favorable contribution margins compared with the core marketplace transaction economics, incremental adoption can aid overall margin consistency through cycles. The near-term revenue impact from newly introduced capabilities is likely to be gradual, but measurable improvements in supplier engagement, listing performance, and lead-to-conversion metrics can form a leading indicator for forward monetization. Cross-sell dynamics between Marketplace and Supplier Services also matter; suppliers that see tangible lead flow improvements are more likely to invest in premium placements and tools, while buyers encountering richer supplier data and search outcomes may place more high-value orders, feeding back into the Marketplace. For this quarter, investors will look for qualitative commentary on early adoption patterns for the new tools and any planned go-to-market pushes aimed at accelerating subscription growth. Any uptick in supplier-paid features or advertising solutions would not only diversify top line but also provide a stabilizing effect on aggregate margin during phases when marketplace order mix is more price-competitive.

Key swing factors for the stock this quarter

Three metrics are poised to dominate the stock’s reaction: revenue growth versus the 25.27% year-over-year baseline, the durability of near-40% gross margins, and the path of earnings power implied by the $0.11 adjusted EPS forecast. On revenue, the recent beat relative to estimates adds pressure for the company to at least meet the current quarter’s targets; any shortfall risks resetting growth narratives, especially as comparisons normalize. On profitability, a stable or improving gross margin would validate mix enhancements and operating discipline, while meaningful compression would reinforce concerns about competitive pricing or heavier promotional activity. The EBIT estimate of $12.27 million, up sharply year over year from a small base, serves as a high-visibility marker for operating leverage; exceeding that bar could support a view that scale economics are showing through as product and marketplace investments mature. Finally, commentary around demand drivers for enterprise-grade projects and complex-program sourcing will be closely parsed, as broader buyer engagement with advanced workflows can lift both ticket size and stickiness—a combination that usually feeds through to better margin stability and higher lifetime value. Guidance framing for the first half of 2026, especially around revenue cadence and expense discipline, will likely influence whether investors extrapolate a steadier margin structure or maintain a wait-and-see posture.

Analyst Opinions

Within the January–February 2026 window, formal previews from major institutions have been limited in published channels, but available sell-side and buy-side commentary leans positive on the company’s near-term setup. The prevailing view emphasizes that the revenue trajectory implied by consensus—$183.37 million and 25.27% year-over-year growth—sets an achievable bar provided Marketplace engagement remains firm and new Supplier Services features keep improving lead flows and monetization. Institutional discussions also center on whether the near-40% gross margin reported last quarter can hold as order mix evolves and whether continued operating leverage can support the $0.11 adjusted EPS forecast without one-off tailwinds. The tone of expectations is constructive heading into the print, with attention focused on the sustainability of growth across large-account orders and the incremental contribution from recently launched platform capabilities. Analysts generally note that sequential improvements in net results last quarter and an upside revenue surprise raise the importance of execution consistency this quarter; affirmation of revenue growth and visibility into expense run-rate would reinforce a favorable stance. The bullish case in current commentary is that product-led enhancements and deepening buyer–supplier interactions can maintain above-market growth while preserving margin resiliency through the year. The cautious counterpoint cited in institutional discussions is that any apparent softness in gross margin or a miss versus the EBIT/EPS estimates would prompt a sharper debate about the pace of operating leverage; however, the majority of viewpoints gathered during this period remain positive, focusing on sustained top-line expansion and controlled scaling of expenses.