Xometry Announces Convertible Debt Refinancing and Closing of $250 Million of 0.75% Convertible Senior Notes Offering

• Issued $250 million principal amount of convertible notes due in 2030, with the proceeds used in part to retire approximately $202 million principal amount of existing convertible notes due in 2027
• Opportunistic refinancing extends the maturity of most of Xometry’s existing debt with improved terms, a lower coupon and reduced potential dilution to the existing capital structure
• Xometry purchased a capped call hedge with a cap price initially at $63.35, which represents a 75% premium over the market price on the transaction date
• Xometry repurchased approximately $8 million of the Company's common stock in connection with this transaction

NORTH BETHESDA, Md., June 12, 2025 (GLOBE NEWSWIRE) -- Xometry, Inc. (NASDAQ:XMTR), the global AI-powered marketplace digitizing manufacturing and driving greater supply chain resiliency, today announced the successful closing of its offering of $250 million aggregate principal amount of 0.75% Convertible Senior Notes due 2030 (the “Notes”), which included the full exercise of the initial purchasers' option to purchase up to an additional $25 million aggregate principal amount of Notes, in a private placement (the “Offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).

“We appreciate the tremendous support from both existing and new investors as we successfully close this important financing for the Company,” said Randy Altschuler, CEO of Xometry. “We have delivered strong growth and positive Adjusted EBITDA over the past two quarters and expect to deliver full year positive Adjusted EBITDA in 2025. This transaction solidifies our balance sheet, providing us with increased financial flexibility to continue to focus on profitable growth as we digitize manufacturing worldwide.”

“We designed this transaction to opportunistically refinance our debt at attractive terms, lowering our coupon rate to 0.75%," said James Miln, CFO of Xometry. "The transaction fortifies our balance sheet by addressing over $200 million principal amount that had 2027 maturities, while providing us with financial flexibility to continue focusing on our growth initiatives and margin expansion. Importantly, this transaction was structured to minimize the potential future dilution for our equity shareholders with an effective 75% conversion premium to the market price of our Class A common stock on the transaction date.”