Slides
Page 1
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Leading the Future of Manufacturing Q3 2026 Earnings Presentation November 3, 2026
Page 2
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. This presentation contains forward-looking statements. All statements other than statements of historical facts contained in thi s presentation, including statements regarding the Company’s future results of operations, financial position and cash flows, expectations regarding its growth and margin expansion, including in international markets, ability to achieve and maintain profitability, business strategy, ability to maintain existing, and establish new, strategic partnerships or other arrangements with Buyers or Suppliers on the Company’s platform, the potential for acquisitions, and the Company’s share of the market, the impact of macroeconomic factor s, including tariffs, on the Company’s business, the potential market size for the Company’s platform and other solutions and plans and objectives of management for future op erations are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause the Company’s actual res ults, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward -looking statements. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond t he Company’s control, you should not rely on these forward-looking statements as predictions of future events. Risks regarding the Company's business are described in detail in its Securities and Exchange Commission (SEC) filings, including its Annual Report on Form 10 -K for the year ended December 31, 2025, and its other filings with the SEC, incl uding the Company’s Quarterly Report for the quarter ended September 30, 2026. The events and circumstances reflected in the Company’s forward -looking statements may not be achieved or occur and actual resu lts could differ materially from those projected in the forward -looking statements. Except as required by applicable law, the Company does not pl an to publicly update or revise any forward - looking statements contained herein, whether as a result of any new information, future events, changed circumstances or othe rwise. This presentation also contains estimates and other statistical data from both independent third parties and the Company rela ting to market size and growth and other data about the Company’s industry. This data involves a number of assumptions and limitations, and you are cautioned not to give u ndue weight to such estimates. While the Company believes the estimates and statistical data from these independent third parties are reliable as of the date of this presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of any information obtained from these third p arties. Neither the Company nor any other person makes any representation as to the accuracy or completeness of such data or undertakes any obligation to update such d ata after the date of this presentation. In addition, projections, assumptions and estimates of the Company’s future performance and the future performance of the market s in which the Company operates are necessarily subject to a high degree of uncertainty and risk. In light of the foregoing, you are urged not to rely on any forward -looking statement or third-party data in reaching any conclu sion or making any investment decision about any securities of the Company. This presentation contains non-GAAP financial measures and key metrics relating to the Company’s past performance. These non -GAAP financial measures are presented in addition to, and not as a substitute for or superior to, measures of financial performance prepared in accordance with U.S. G AAP. There are a number of limitations related to the use of these non-GAAP financial measures versus its nearest GAAP equivalents. For example, other companies may calculate non -GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of the Company’s non -GAAP financial measures as a tool for comparison. The Company has provided a reconciliation of measures to the most directly comparable GAAP measures, which is available in the Appendix. Safe Harbor 2
Page 3
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Rapid Growth, Digitizing and Transforming Manufacturing 3 Q3 2026 Revenue → Q3 2026 Revenue increased +40% YoY → Q3 2026 Marketplace growth +43% YoY → Q3 2026 Gross Profit +37% YoY → Q3 2026 Marketplace Gross Profit +44% YoY Q3 2026 Active Buyers2 → Large, rapidly growing, diverse Buyers → Active Buyers +20% YoY FY 2025 Active Suppliers3 → Leading global Supplier network → Active Suppliers +17% YoY Q3 2026 Gross Profit → Q3 2026 Adj. EBITDA $21.4M → Q3 2026 Adj. EBITDA +$15.3M YoY Q3 2026 Adj. EBITDA1 $252M $98.7M $21.4M 93K+ ~5K 1. We define Adjusted EBITDA as net loss, adjusted for interest expense, interest and dividend income and other expenses, depreciation and amortization, amortization of lease intangible, provision for (or benefit from) income taxes, stock-based compensation, payroll tax expense related to stock-based compensation, charitable contributions of common stock, income from unconsolidated joint venture, impairment of assets, restructuring charges, and acquisition and other adjustments not reflective of our ongoing business, such as adjustments related to purchase accounting, the revaluation of contingent consideration, transaction costs and executive severance. 2. Active Buyers defined as the number of Buyers who have made at least one purchase on Xometry’s marketplace during the last twelve months. 3. Active Suppliers defined as the Suppliers that have used Xometry’s platform at least once during the last twelve months to manufacture a product.
Page 4
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. 4 Record Q3 2026 Financial Performance Record revenue of $252M +40% YoY driven by 43% Marketplace revenue growth. Record gross profit of $98.7M +37% YoY driven by 44% Marketplace gross profit growth. Highest ever Marketplace gross margin of 36.0% +130 bps QoQ, YTD FY26 up 80 bps YoY powered by AI models & supplier selection. Record Adj. EBITDA and expanding margin, strong YoY operating leverage Q3 Adj. EBITDA of $21.4M +$15.3M YoY. Progress on Key Growth Initiatives Financial Highlights Improving our AI-Native marketplace experiences with launch of next gen Workcenter to enable improving job matching. Added over 100 additional custom materials to our instant quoting engine. Making excellent progress on the Siemens collaboration. Expanding buyer and supplier networks Active Buyers +20% YoY in Q3 (record net adds) driven by efficient corporate marketing and improving personalization. Active Suppliers +17% YoY in FY25 with larger suppliers, expanded certifications. Deepening Enterprise engagement as Accounts with LTM spend ≥$500K >140 in FY25 and revenue growth of >40% YoY in Q3 2026. Strong +26% YoY growth in Accounts with LTM spend ≥$50K. Expanded partnership with TradeCentric. Leveraging Services opportunities to improve monetization and advertiser penetration on the Thomas platform. Strong durable growth outlook given significant global TAM and low penetration rates. Increasing market share through key growth initiatives. Increasing marketplace gross margin on an annual basis, driving faster gross profit dollar growth. Targeting at least 20% annual incremental Adj. EBITDA margins as we scale beyond $1B. Improving cash flow conversion with asset light marketplace model, low CAPEX and limited working capital requirements. Q3 2026 Results and Financial Highlights
Page 5
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Significant Growth at Scale Annual Revenue → $687M FY25 Total Revenue, +26% YoY → $630M FY25 Marketplace Revenue, +30% YoY → $252M Q3 2026 Total Revenue, +40% YoY → $238M Q3 2026 Marketplace Revenue, +43% YoY $ in millions Quarterly Revenue ServicesMarketplace $ in millions 5 $395 $486 $630 $463 $546 $687 FY 2023 FY 2024 FY 2025 $167 $238 $181 $252 Q3 2025 Q3 2026
Page 6
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. 3,429 4,276 4,996 FY 2023 FY 2024 FY 2025 Large and Growing Marketplace of Buyers and Suppliers Marketplace growth has been driven by efficiently matching Supplier capacity with Buyer demand Active Suppliers2,3 +17% YoY Active Buyers1 +20% YoY 6 1. Active Buyers defined as the number of Buyers who have made at least one purchase on Xometry’s marketplace during the last twelve months. 2. Active Suppliers defined as the Suppliers that have used Xometry’s platform at least once during the last twelve months to manufacture a product. 3. In 2025, we adjusted the number of our 2024 Active Suppliers to reflect an immaterial correction. 55,325 68,267 81,821 78,282 93,812 FY 2023 FY 2024 FY 2025 Q3 2025 Q3 2026
Page 7
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Rapidly Growing International Revenue © 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. EU HQ: Munich, Germany ASIA HQ: Shanghai, China ASIA EUROPE → Q3 International revenue growth of 32% YoY. → Long-term target is for International to represent 30-40% of Marketplace revenue. International Expansion: Scaling Marketplace Presence with Significant Runway 2020 7 2020 2025 2020 2020 International 16% U.S. 84% International 2% U.S. 98% Q3 2026
Page 8
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Expanding Wallet Share, Sticky Buyer Base Accounts with LTM Spend of $50K or More1 Revenue from Existing Xometry Accounts2 → Growth in Marketplace Accounts with LTM spend of at least $50K reflects emerging Enterprise Account opportunity. → Reliable land and expand Buyer dynamics drive the high percentage of revenue from existing Buyers. +26% YoY 1. Accounts with Last Twelve-Month, or LTM, Spend of at Least $50,000 defined as an account that has spent at least $50,000 on Xometry’s marketplace during the last twelve months. 2. Existing Accounts defined as an account where at least one Buyer has made a purchase on Xometry’s marketplace. 8 1,331 1,495 1,760 1,724 2,172 FY 2023 FY 2024 FY 2025 Q3 2025 Q3 2026 96% 97% 98% 98% 98% FY 2023 FY 2024 FY 2025 Q3 2025 Q3 2026
Page 9
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Strong Gross Profit Growth, Q3 Marketplace GP +44% YOY 9 $ in millions Annual Gross Profit and Margin $121 $218 $163 $178 $216 $269 2023 2024 2025 Marketplace Total +34% YoY Marketplace Gross Profit Services ServicesMarketplace Quarterly Gross Profit and Margin Marketplace Total 35.7% 39.9% 36.0% 39.1% +44% YoY Marketplace Gross Profit Services 88.7% 89.9% 30.8% 38.5% 33.5% 39.5% 82.7% 89.0% 34.7% 39.1% 88.6% $59.5 $85.7$72.0 $98.7 3Q25 3Q26
Page 10
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Strong Buyer Growth, Improving Advertising Efficiency 10 Advertising % of Marketplace Revenue Net Active Buyer AddsActive Buyers1 1. Active Buyers defined as the number of Buyers who have made at least one purchase on Xometry’s marketplace during the last twelve months. → Advertising spend down 200 bps YoY to 3.0% → Q3 2026 Record Net Buyer Adds of 4,255 → Q3 2026 Active Buyers +20% YoY 78,282 81,821 85,581 89,557 93,812 3Q25 4Q25 1Q26 2Q26 3Q26 3,505 3,539 3,760 3,976 4,255 3Q25 4Q25 1Q26 2Q26 3Q26 5.0% 5.2% 3.9% 3.4% 3.0% 3Q25 4Q25 1Q26 2Q26 3Q26
Page 11
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Strong Q3 2026 Operating Leverage 11 Non-GAAP Expenses as % of Revenue 1. Excludes stock-based compensation, payroll taxes related to stock-based compensation, depreciation, amortization, and restructuring charges. 2. Excludes charitable contributions, amortization of in-place lease assets, lease abandonments, executive severance and acquisition and other adjustments. 3. Excludes costs to exit the tools and materials business Note: See the appendix for a reconciliation to the nearest GAAP measures. Sales and Marketing1 Operations and Support1,3 Product Development1 G&A1,2Total Non-GAAP Operating Expenses 44.6% 41.5% 36.5% 36.6% 30.7% FY23 FY24 FY25 3Q25 3Q26 18.4% 17.8% 15.8% 15.9% 12.6% FY23 FY24 FY25 3Q25 3Q26 9.5% 9.0% 8.5% 8.2% 7.9% FY23 FY24 FY25 3Q25 3Q26 5.0% 4.5% 3.4% 3.4% 3.6% FY23 FY24 FY25 3Q25 3Q26 11.7% 10.2% 8.8% 9.1% 6.6% FY23 FY24 FY25 3Q25 3Q26
Page 12
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Strong Incremental Adj. EBITDA Margin 12 Revenue Adj. EBITDA → Consistently delivered 20%+ incremental Adjusted EBITDA margin 2023-2025. → As we scale beyond $1B in revenue, expect incremental Adj EBITDA margin of at least 20%. → Asset light model. → Expect strong cash flow conversion from Adj. EBITDA. Financial Drivers FY24 FY25 YTD 26 Adj. EBITDA ∆ / Revenue ∆ Note: See the appendix for a reconciliation to the nearest GAAP measures. $ in millions © 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. $463 $546 $687 $181 $252 FY23 FY24 FY25 3Q25 3Q26 $(27.5) $(9.7) $18.5 $6.1 $21.4 FY23 FY24 FY25 3Q25 3Q26 ~19%~20% Q3 2026 ~21%~22%
Page 13
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Raising FY2026 Outlook 13 → For Q4 2026, we expect revenue of $254-$256 million, representing 32–33% growth year-over-year driven by 35- 36% marketplace growth. → For Q4 2026, we expect Adj. EBITDA1 of $22-$22.5 million, an improvement from an Adj. EBITDA of $8.4 million in Q4 2025. → For FY 2026, we are raising our revenue growth outlook from previous guidance of at least 33- 34% to at least 37% driven by ~41% marketplace growth. → For FY 2026, we expect Adj. EBITDA in the range of $68-$68.5 million, an improvement from an Adj. EBITDA of $18.5 million in FY 2025. Q4 2026 FY 2026 1. Reconciliation of Adjusted EBITDA on a forward-looking basis to net loss, the most directly comparable GAAP measure, is not available without unreasonable efforts due to the high variability and complexity and low visibility with respect to certain charges excluded from this non-GAAP measure, including interest and dividend income, benefit for income taxes, charitable contributions of common stock and impairment of assets. Xometry expects the variability of these items could have a significant, and potentially unpredictable, impact on its future GAAP financial results.
Page 14
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. © 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Appendix 14
Page 15
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Adjusted EBITDA Reconciliation 15 $ in thousands 1. Represents depreciation expense of the Company’s long-lived tangible assets and amortization expense of its finite-lived intangible assets, as included in the Company’s GAAP results of operations. 2. Represents the non-cash expense related to stock-based awards granted to employees, as included in the Company’s GAAP results of operations. 3. In the second quarter of 2024, we changed the definition of Adjusted EBITDA to exclude payroll tax expense related to stock-based compensation. For prior periods, this amount was considered de minimis and, accordingly, we have not adjusted the Adjusted EBITDA amounts for such periods. 4. Amount is recorded in general and administrative. 5. Includes adjustments related to purchase accounting, the revaluation of contingent consideration, transaction costs, and executive severance. 6. Costs associated with a reduction in workforce. FY 2023 FY 2024 FY 2025 Q3 2025 Q3 2026 Revenue 463,406$ 545,529$ 686,631$ 180,715$ 252,439$ Adjusted EBITDA: Net income (loss) (67,465)$ (50,403)$ (61,748)$ (11,597)$ 1,935$ Add (deduct): Interest expense, interest and dividend income and other expenses (income) (5,312) (5,273) 16,047 775 (2,395) Depreciation and amortization(1) 10,738 13,012 18,750 5,000 6,185 Amortization of lease intangible 950 720 720 180 — Provision (benefit) for income taxes (353) (21) 589 (17) 704 Stock-based compensation(2) 22,118 29,322 36,362 10,748 11,288 Payroll taxes expense related to stock-based compensation(3) — 965 2,465 366 728 Lease abandonment(4) 8,706 — — — — Acquisition and other(5) 824 686 1,164 — 28 Charitable contribution of common stock 1,029 1,686 3,272 950 1,767 Income from unconsolidated joint venture (446) (452) (404) (220) (187) Impairment of assets 397 82 49 49 — Restructuring charges(6) 738 — 1,262 (92) 1,370 Costs to exit the tools and materials business 586 — — — — Adjusted EBITDA (27,490)$ (9,676)$ 18,528$ 6,142$ 21,423$ Percentage of revenue -5.9% -1.8% 2.7% 3.4% 8.5%
Page 16
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Reconciliation of Non-GAAP Operating Expenses – Sales and Marketing 16 $ in thousands 1. Represents depreciation expense of the Company’s long-lived tangible assets and amortization expense of its finite-lived intangible assets, as included in the Company’s GAAP results of operations. 2. Represents the non-cash expense related to stock-based awards granted to employees, as included in the Company’s GAAP results of operations. 3. Includes adjustments related to executive severance. 4. Costs associated with a reduction in workforce. FY 2023 FY 2024 FY 2025 Q3 2025 Q3 2026 Revenue 463,406$ 545,529$ 686,631$ 180,715$ 252,439$ GAAP Expense - Sales and Marketing 93,688$ 108,437$ 122,749$ 32,649$ 35,571$ Add (deduct): Depreciation and amortization(1) (3,162) (3,185) (3,181) (799) (805) Stock-based compensation(2) (4,909) (8,028) (10,278) (3,059) (2,413) Payroll tax expense related to stock-based compensation — (205) (607) (111) (281) Acquisition and other(3) (214) — — — — Restructuring charges(4) (224) — (31) 27 (190) Non-GAAP Sales and Marketing Expense 85,179$ 97,019$ 108,652$ 28,707$ 31,882$ Percentage of revenue 18.4% 17.8% 15.8% 15.9% 12.6%
Page 17
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Reconciliation of Non-GAAP Operating Expenses – Operations and Support 17 $ in thousands 1. Represents depreciation expense of the Company’s long-lived tangible assets and amortization expense of its finite-lived intangible assets, as included in the Company’s GAAP results of operations. 2. Represents the non-cash expense related to stock-based awards granted to employees, as included in the Company’s GAAP results of operations. 3. Includes adjustments related to executive severance. 4. Costs associated with a reduction in workforce. FY 2023 FY 2024 FY 2025 Q3 2025 Q3 2026 Revenue 463,406$ 545,529$ 686,631$ 180,715$ 252,439$ GAAP Expense - Operations and Support 52,372$ 58,975$ 72,415$ 18,403$ 23,264$ Add (deduct): Depreciation and amortization(1) (174) (139) (182) (46) (76) Stock-based compensation(2) (7,719) (9,280) (12,316) (3,609) (2,565) Payroll tax expense related to stock-based compensation — (302) (777) (102) (274) Acquisition and other(3) — — (362) — — Restructuring charges(4) (230) — (588) 108 (429) Costs to exit the tools and materials business (380) — — — — Non-GAAP Operations and Support Expense 43,869$ 49,254$ 58,190$ 14,754$ 19,920$ Percentage of revenue 9.5% 9.0% 8.5% 8.2% 7.9%
Page 18
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Reconciliation of Non-GAAP Operating Expenses – Product Development 18 $ in thousands 1. Represents depreciation expense of the Company’s long-lived tangible assets and amortization expense of its finite-lived intangible assets, as included in the Company’s GAAP results of operations. 2. Represents the non-cash expense related to stock-based awards granted to employees, as included in the Company’s GAAP results of operations. 3. Includes adjustments related to executive severance. 4. Costs associated with a reduction in workforce. FY 2023 FY 2024 FY 2025 Q3 2025 Q3 2026 Revenue 463,406$ 545,529$ 686,631$ 180,715$ 252,439$ GAAP Expense - Product Development 34,462$ 39,322$ 46,792$ 12,524$ 16,102$ Add (deduct): Depreciation and amortization(1) (5,974) (8,078) (13,508) (3,723) (5,060) Stock-based compensation(2) (5,345) (6,583) (8,307) (2,470) (1,177) Payroll tax expense related to stock-based compensation — (298) (671) (112) (73) Acquisition and other(3) — — (314) — — Restructuring charges(4) (117) — (470) (11) (731) Non-GAAP Product Development Expense 23,026$ 24,363$ 23,522$ 6,208$ 9,061$ Percentage of revenue 5.0% 4.5% 3.4% 3.4% 3.6%
Page 19
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Reconciliation of Non-GAAP Operating Expenses – General and Administrative 19 $ in thousands 1. Represents depreciation expense of the Company’s long-lived tangible assets and amortization expense of its finite-lived intangible assets, as included in the Company’s GAAP results of operations. 2. Represents the non-cash expense related to stock-based awards granted to employees, as included in the Company’s GAAP results of operations. 3. Includes adjustments related to purchase accounting, the revaluation of contingent consideration, transaction costs, and executive severance. 4. Costs associated with a reduction in workforce. FY 2023 FY 2024 FY 2025 Q3 2025 Q3 2026 Revenue 463,406$ 545,529$ 686,631$ 180,715$ 252,439$ GAAP Expense - General and Administrative 70,916$ 64,957$ 72,284$ 19,463$ 23,686$ Add (deduct): Depreciation and amortization(1) (1,256) (879) (1,144) (249) (65) Amortization of lease intangible (950) (720) (720) (180) — Stock-based compensation(2) (4,145) (5,431) (5,461) (1,610) (5,133) Payroll tax expenses related to stock-based compensation — (160) (410) (40) (100) Lease abandonment (8,706) — — — — Acquisition and other(3) (612) (686) (488) — (28) Charitable contribution of common stock (1,029) (1,686) (3,272) (950) (1,767) Restructuring charges(4) (167) — (173) (32) (20) Non-GAAP General and Administrative Expense 54,051$ 55,395$ 60,616$ 16,402$ 16,573$ Percentage of revenue 11.7% 10.2% 8.8% 9.1% 6.6%
Page 20
© 2026 Xometry, Inc. and/or its affiliates. All rights reserved. Confidential. Reconciliation of Non-GAAP Cost of Revenue 20 $ in thousands 1. Represents depreciation expense of the Company’s long-lived tangible assets and amortization expense of its finite-lived intangible assets, as included in the Company’s GAAP results of operations. FY 2023 FY 2024 FY 2025 Q3 2025 Q3 2026 Revenue 463,406$ 545,529$ 686,631$ 180,715$ 252,439$ Cost of Revenue 285,147$ 329,905$ 417,858$ 108,686$ 153,759$ Add (deduct): Depreciation and amortization(1) (172) (731) (735) (184) (179) Costs to exit the tools and materials business (206) — — — — Non-GAAP Cost of Revenue 284,769$ 329,174$ 417,123$ 108,502$ 153,580$