Xometry, Inc. (NASDAQ: XMTR), a leading AI-powered manufacturing marketplace, saw its stock surge 5.4% in pre-market trading on Tuesday following the company's strong fourth-quarter 2024 results and upbeat outlook for 2025.

The company reported record revenue of $148.5 million for the fourth quarter, beating consensus estimates of $146.4 million. The top-line growth was driven by a 20% year-over-year increase in the core marketplace business, which generated $135.0 million in revenue during the quarter.

Xometry's profitability also improved significantly, with adjusted EBITDA turning positive at $1.0 million, compared to a loss of $2.9 million in the prior-year period. The improved profitability was driven by higher gross margins in the marketplace business, which rose 320 basis points to 34.5%, aided by the company's AI technology and expanding supplier network.

For the full year 2024, Xometry reported revenue of $545.5 million, up 18% year-over-year, and narrowed its adjusted EBITDA loss to $9.7 million from $27.5 million in 2023.

Looking ahead, Xometry provided an optimistic outlook for 2025, expecting total revenue growth to exceed the 18% growth achieved in 2024. The company forecasts marketplace revenue growth of at least 20% for the year and expects to be adjusted EBITDA positive for the full year 2025.