Xometry, Inc. Revenue Disclosure
(13) Disaggregated Revenue and Cost of Revenue Information
The following tables present our revenues disaggregated by line of business. Revenue from our marketplace primarily reflects the sales of parts and assemblies on our platform. Revenue from services primarily includes the sale of digital advertising and marketing services, and to a lesser extent financial service products and SaaS products.
Revenue and cost of revenue is presented in the following tables for the years ended December 31, 2025, 2024 and 2023 (in thousands):
|
|
Year Ended December 31, |
|
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Marketplace |
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
Revenue |
|
$ |
629,642 |
|
|
$ |
485,946 |
|
|
$ |
394,754 |
|
Cost of revenue |
|
|
411,337 |
|
|
|
323,365 |
|
|
|
273,264 |
|
Gross Profit |
|
$ |
218,305 |
|
|
$ |
162,581 |
|
|
$ |
121,490 |
|
|
|
|
|
|
|
|
|
|
|
|||
Services |
|
|
|
|
|
|
|
|
|
|||
Revenue |
|
$ |
56,989 |
|
|
$ |
59,583 |
|
|
$ |
68,652 |
|
Cost of revenue |
|
|
6,521 |
|
|
|
6,540 |
|
|
|
11,883 |
|
Gross Profit |
|
$ |
50,468 |
|
|
$ |
53,043 |
|
|
$ |
56,769 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Mar 16, 2023 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.