Key Highlights

  • Revenue rose 40% to a record USD 252 million in the third quarter of 2026, Xometry (NASDAQ:XMTR) said on its November 3, 2026 call, and marketplace Revenue grew 43%.
  • Management described the quarter as its first of GAAP profitability, and said adjusted EBITDA, Gross Profit and marketplace gross Margin all hit records.
  • Marketplace gross margin reached a record 36.0%, up 130 basis points from the second quarter, and the revenue run rate passed USD 1 billion.
  • Active buyers grew 20% to 93,812 and accounts spending at least USD 50,000 over twelve months rose 26% to 2,172, with 98% of revenue from existing accounts.

A 40% Revenue Quarter and a First GAAP Profit

Xometry (NASDAQ:XMTR) operates an online marketplace that connects buyers of custom manufactured parts with a network of suppliers, and also owns the Thomasnet industrial sourcing platform. On its call on November 3, 2026, management said third quarter revenue grew 40% to a record USD 252 million, the second straight quarter of at least 40% growth. Marketplace revenue grew 43%, and the company said it posted its first quarter of GAAP profitability. The extract reviewed does not state the GAAP profit figure, the adjusted EBITDA figure or the new full-year guidance, although management said it raised its 2026 outlook and that the strength continued into the fourth quarter.

Margin, Buyer Growth and the Siemens Integration

The marketplace gross margin of 36.0% is the profitability lever to watch, because the company earns the spread between what buyers pay and what suppliers are paid. Management credits upgraded AI costing and sourcing models and a new E-commerce platform that now carries most buyer traffic. Active buyers rose to 93,812 from 78,282 a year earlier, and the supplier network exceeds 5,000 active suppliers. The company also expects a Beta launch of its integration with Siemens Designcenter in the first quarter of 2027, with a gradual customer ramp through the year, and said the Partnership should help 2027 operating results. On July 1, 2026 it bought Marketing agency GoBRANDgo for about USD 4.6 million in cash, plus up to 28,454 shares of contingent consideration.

Restructuring, Macro Exposure and Unverified Market Claims

The filing notes workforce reductions of about 5% in 2025 and 4% in 2026, with USD 1.4 million of termination costs in the quarter. It also warns that inflation, interest rates, trade policy and geopolitical conflict could slow Manufacturing spending and that the effects may not appear in results until later periods. Management's statement that it has penetrated less than 1% of a USD 275 billion custom manufacturing market is its own estimate and was not verified here. The Siemens integration is still pre-launch, and the first GAAP profit is a single quarter, so sustainability remains untested. Watch the full-year guidance numbers and the quarterly 10-Q cash and Liquidity disclosures.

Where Things Stand

Xometry (NASDAQ:XMTR) reached its first GAAP profit because revenue grew 40% while marketplace gross margin widened to a record 36.0% while management also cut headcount in 2025 and 2026, though the extract does not quantify the effect on costs. That is a meaningful milestone, but the supplied extract gives neither the profit amount nor the new guidance, so its scale cannot be judged here. The balance of evidence is positive on growth and unit economics, with risks in macro-sensitive manufacturing Demand and execution on the Siemens launch planned for the first quarter of 2027.