Xometry, Inc. Q4 FY2025 earnings call

Randy Altschuler announced his transition to Executive Chair on July 1, 2026, with Sanjeev Singh Sahni becoming CEO. Xometry had a record Q4 with accelerating revenue growth, gross profit, and adjusted EBITDA. Sanjeev discussed expanding marketplace offerings, driving enterprise growth, and progress with the Commerce Industrial sourcing platform. They also focused on expanding the global supplier network and improving the supplier experience.

Q4 revenue grew 30% year-over-year to over $192 million. Q4 marketplace revenue was $178 million, up 33% year-over-year, with marketplace gross margin at 35.3%, up 80 basis points year-over-year. Supplier services revenue was $13.9 million, down ~1% quarter-over-quarter. U.S. segment adjusted EBITDA was $10.8 million or 6.8% adjusted EBITDA margin in Q4 2025, a $6.8 million improvement year-over-year. International segment adjusted EBITDA loss was $2.4 million in Q4 2025, a $0.5 million improvement from Q4 2024.

First quarter revenue expected in range of $187 million to $189 million (24%-25% growth year-over-year). Q1 marketplace growth expected ~27%-28% year-over-year. Adjusted EBITDA expected $6.5 million to $7.5 million. Full year 2026 expected at least 21% revenue growth, with at least 20% incremental adjusted EBITDA margins. Services revenue expected approximately flat year-over-year with modest growth in second half.

Q: Cory Carpenter asked about CEO change timing and Sanjeev's excited initiatives; A: Randy talked about transition timing and focus on strategic initiatives, Sanjeev discussed growth initiatives.

Q: Andrew Boone asked about 4Q acceleration and international profitability; A: Randy and James commented on strong momentum and similar economics in international.

Q: Brian Drab asked about large customers and their work; A: Randy spoke about technology integration, Teamspace, and being in bill of materials.

Q: Eric Sheridan asked about verticalization and industry tailwinds; A: Randy and James discussed diversified verticals and supply network.

Q: Ron Josey asked about brand awareness and EBITDA margins; A: Randy, Sanjeev, and James talked about marketing balance and leverage.

Q: Greg Palm asked about macro impact and cohort analysis; A: Randy spoke about macro tailwinds and larger projects.

Q: Josh Chan asked about supplier momentum and free cash flow; A: Sanjeev and James addressed supplier growth and cash flow.

Q: Matthew Swanson asked about Workcenter app and enterprise metrics; A: Sanjeev discussed Workcenter app benefits and enterprise momentum signals