2.5 minutes

CEO Randy Altschuler said Xometry delivered record revenue, gross profit and gross margins in its fiscal Q2 2024, which ended June 30.

The second quarter was a good one for B2B marketplace Xometry Inc. revenue.

Xometry is a B2B marketplace for manufacturers using artificial intelligence (AI), based in Bethesda, Maryland. It facilitates sales across industries including aerospace, robotics, automotive and others.



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Xometry Q2 revenue

For its fiscal Q2 ended June 30, Xometry increased revenue $133 million. That’s up 19% from $111 million in the second quarter of 2023. Net loss was $13.70 million compared with a net loss of $26.55 million in the previous year.

“We delivered record revenue, record gross profit and record gross margins as our AI-powered marketplace continues to gain market share,” said Randy Altschuler, Xometry’s CEO, in an earnings call with investors. “In Q2 2024, we grew our marketplace revenue 25%, with accelerated growth in the U.S. and a record 33.5% marketplace gross margin as more customers turn to Xometry for their supply chain solutions.”

Other Xometry Q2 metrics include:

  • Xometry marketplace revenue for Q2 2024 was $117 million, an increase of 25% year-over-year.
  • Supplier services revenue for the second quarter of 2024 was $15.3 million, a decrease of 13%.
  • Total gross profit for the second quarter 2024 was $52.9 million. That’s an increase of 21% from the prior year.
  • Marketplace active buyers increased 27%, to 61,530, as of June 30, 2024. That’s up from 48,340, on June 30, 2023.
  • Marketplace accounts with last 12-months spend of at least $50,000 increased 24%. That’s up to 1,436 now from 1,159 on June 30, 2023.
  • Active paying suppliers decreased 7% to 6,992, as of June 30, from 7,553 for Q2 2023.

“We delivered another strong quarter with better-than-expected results driven by improving marketplace gross margin and significant operating leverage,” said James Miln, Xometry’s chief financial officer.

Click here for our previous update on Xometry’s Q1.

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