What Xometry, Inc. told the SEC could break it.

As an on-demand manufacturing marketplace that sources and ships physical CNC/sheet-metal/additive parts (including from international suppliers), Xometry carries a specific, dated, recently-changed tariff exposure — distinct from the generic macro-tariff line that disqualifies the other SaaS/marketplace names. In Feb 2026 SCOTUS invalidated 2025 emergency-authority tariffs; an executive order then imposed a new 10% global tariff (raisable to 15%) under alternative authority, leaving refund treatment and future duties uncertain. Tariff swings raise landed parts cost and squeeze marketplace economics.

“In February 2026, the United States Supreme Court (SCOTUS) invalidated certain tariffs imposed by the U.S. government under emergency statutory authority in 2025. Shortly thereafter, President Trump signed an executive order implementing a new 10% global tariff pursuant to an alternative statutory authority, which may be raised up to 15%.”

Tied to the same trade-policy shift: Xometry flags that international suppliers may stop engaging it under the changing tariff regime, narrowing its sourcing options and increasing dependence on domestic suppliers. A supply-base concentration risk distinctive to its asset-light manufacturing-marketplace model; diffuse and forward-looking, hence low severity.

“Further, international suppliers may elect not to continue engaging us, limiting our sourcing options and increasing our dependency on domestic suppliers.”