Xometry Q1 revenue +36% to $205M; gross margin expands 500bp; raises $300M in capital

Filed May 7, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 6, 2025 · ~2 min read

Key Changes

• high

  Revenue grew 36% YoY to $205M, accelerating from 23% prior year, driven by 40% marketplace growth and 21% increase in high-value accounts ($50K+ LTM spend). Adjusted EBITDA turned positive at $10.5M (5.1% margin) vs $0.1M prior year, demonstrating operating leverage.

  MD&A: Revenue & Profitability verify on EDGAR →
• high

  Marketplace gross margin improved 290bp to 34.7% from 31.8%, reversing prior-year decline. Management attributes expansion to AI-driven pricing optimization and supplier network effects as platform scales.

  MD&A: Marketplace Margin verify on EDGAR →
• high

  Raised $250M in 2030 convertible notes (0.75% coupon, $47.06 conversion price) and used $216.7M to repurchase $201.7M of 2027 notes at 7% premium, extending debt maturity. Recognized $16.4M loss on extinguishment; purchased $17.5M in capped calls to hedge dilution.

  MD&A: Debt Refinancing verify on EDGAR →