Xometry, a marketplace for manufacturing services, has reported a significant increase in revenue for the fourth quarter and full financial year 2024. The company generated total revenue of USD 545 million in 2024, an increase of 18% compared to the previous year. Growth was boosted in particular by the expansion of the marketplace and the increasing number of suppliers.
In the fourth quarter of 2024, revenue increased by 16% to USD 149 million. The marketplace alone contributed a total of USD 135 million with growth of 20%. The gross margin reached a high of 34.5% as gross profit increased by 20% to USD 59 million. At the same time, adjusted EBITDA improved by USD 3.9 million compared to the previous year, resulting in a profit of USD 1 million.
The number of active buyers increased by 23% to 68,267 and the number of customers who have spent at least USD 50,000 within twelve months grew by 12%. However, income from supplier services fell by 13% to USD 14 million, as Xometry deliberately withdrew from non-core services. Despite a net loss of USD 9.9 million in the fourth quarter, this figure improved by USD 0.7 million compared to the previous year. The company was also able to increase its cash and cash equivalents to 240 million US dollars.
During 2024, Xometry expanded its supplier network by 28% and focused on US suppliers with key industry certifications. The company also introduced international economy pricing, allowing customers to receive instant quotes for additive manufacturing processes from global suppliers. The newly acquired IATF 16949 certification for the automotive industry complements the existing AS9100 and ISO 13485 certifications for aerospace and medical technology.
A milestone was the granting of a patent for the Xometry Instant Quoting Engine, which uses machine learning to predict manufacturing costs and feasibility. The company now holds twelve US patents in the field of AI-supported pricing and manufacturing analysis.
For the full financial year 2024, marketplace revenue reached USD 486 million, an increase of 23%. Supplier services decreased by 13% due to strategic realignments. Net loss for the year was USD 50.4 million, an improvement of USD 17.1 million compared to 2023. Adjusted EBITDA also showed progress with a reduced loss of USD 9.7 million, an improvement of USD 17.8 million compared to the previous year.
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