Xometry (XMTR) 53rd Annual JPMorgan Global Technology, Media and Communications Conference summary

Business overview and market opportunity

• Operates an AI-powered marketplace for custom manufacturing, addressing a fragmented $2 trillion market by providing instant pricing and optimal supplier matching for custom parts across industries like aerospace, medical, automotive, and defense.

• Expanded internationally since 2020, now with 18 localized marketplaces in the US, Europe, and Asia, offering both local and international options.

• Platform serves over 71,000 buyers and nearly 4,500 suppliers, with buyers ranging from engineers to procurement professionals at large enterprises and suppliers benefiting from AI-driven job matching and capacity optimization.

Growth, retention, and product innovation

• Strong cohort development with over 1,500 accounts spending more than $50,000 and over 100 accounts spending more than $500,000 in the last 12 months, indicating deepening customer relationships.

• Increasing focus on production work, supported by the Teamspace software, which has over 7,000 teams created since late 2023, enabling complex, end-use production orders.

• WorkCenter, a free manufacturing execution system for suppliers, enhances job visibility, supplier stickiness, and cross-sell opportunities.

• Expansion of instant quoting capabilities, including new categories like tube bending, tube cutting, and injection molding in Europe, drives higher order volume, margins, and wallet share.

Macroeconomic and competitive landscape

• Despite tariff changes and macro uncertainty, maintains strong growth momentum, with 27% year-over-year marketplace growth in Q1 and expectations for faster growth in 2025.

• Majority of US work is already domestic, with only a slight shift toward more domestic sourcing post-tariffs.

• Main competition is traditional sourcing methods; digital adoption is seen as inevitable, with the company positioned as the clear leader.