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Xometry, Inc. (XMTR)
:XMTR
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Xometry (XMTR) AI Stock Analysis

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XMTR

Xometry

(NASDAQ:XMTR)

Rating:54Neutral
Price Target:
$48.00
▼(-2.56% Downside)
Xometry's overall score is primarily driven by its strong earnings call performance, showcasing robust revenue growth and technological advancements. However, significant financial challenges and valuation concerns weigh heavily on the score. The technical analysis indicates positive momentum, but potential overbought conditions could pose risks.
Positive Factors
Financial Performance
Xometry reported better-than-expected June quarter results for revenue, adjusted EBITDA, margins, and non-GAAP EPS.
Strategic Growth
Investments in the platform have enabled Xometry to win larger enterprise customers and to become a strategic sourcing partner.
Negative Factors
Adjusted EBITDA
The revised second-quarter adjusted EBITDA estimate is lower than previously forecasted.
Market Competition
Fictiv has been acquired by a large group, which could increase competition for Xometry due to enhanced resources and capabilities.

Xometry (XMTR) vs. SPDR S&P 500 ETF (SPY)

Xometry Business Overview & Revenue Model

Company DescriptionXometry, Inc. operates a marketplace that enables buyers to source manufactured parts and assemblies in the United States and internationally. It provides CNC machining, milling, and turning services; sheet, laser, waterjet, and plasma cutting services; and sheet metal forming services. The company also offers 3D printing services, such as carbon digital light synthesis, fused deposition modeling, HP multi jet fusion, PolyJet, selective laser sintering, stereolithography, metal 3D printing service, direct metal laser sintering, and metal binder jetting; and injection molding services, including plastic injection, over, insert, and prototype molding, as well as bridge and production tooling. In addition, it provides other services comprising urethane and die casting, vapor smoothing, finishing, rapid prototyping, high- volume production, and assembly services. The company offers its products under the Allied Machine & Engineering, Brubaker, HTC, OSG, Kyocera, Mitsubishi Materials, SOWA, Viking Drill & Tool, Dauphin, and Sandvik brands. It serves aerospace and defense, automotive, consumer products, product designers, education, electronic and semiconductors, energy, hardware startups, industrial, medical and dental, robotics, and supply chain and purchasing industries. The company was formerly known as NextLine Manufacturing Corp. and changed its name to Xometry, Inc. in June 2015. Xometry, Inc. was incorporated in 2013 and is headquartered in Derwood, Maryland.
How the Company Makes MoneyXometry makes money primarily through its digital marketplace platform, where it earns revenue by facilitating transactions between buyers and manufacturers. The company charges a service fee on each transaction, which varies based on the complexity and scope of the manufacturing project. Additionally, Xometry offers subscription plans for manufacturers to access premium tools and features, enhancing their visibility and access to more business opportunities. Key partnerships with major companies and integration with popular CAD software also contribute to Xometry's revenue by expanding its user base and market reach. The combination of transaction fees, subscription services, and strategic partnerships forms the backbone of Xometry's revenue model.

Xometry Key Performance Indicators (KPIs)

Any
Any
Active Buyers
Active Buyers
Measures the number of customers actively purchasing, reflecting the company's ability to attract and maintain a strong customer base, which is crucial for sustained revenue growth.
Chart InsightsXometry's active buyers have shown consistent growth, nearly doubling from mid-2020 to mid-2025, reflecting strong marketplace demand. The latest earnings call highlights a 26% year-over-year marketplace growth, driven by an expanding buyer network, aligning with this trend. Despite macroeconomic uncertainties and a decline in supplier services revenue, the company remains optimistic, raising its full-year revenue growth outlook. This sustained increase in active buyers underpins Xometry's strategic focus on marketplace expansion and successful AI integration, positioning it well for continued growth despite external challenges.
Data provided by:Main Street Data

Xometry Earnings Call Summary

Earnings Call Date:Aug 05, 2025
(Q2-2025)
|
% Change Since: 59.06%|
Next Earnings Date:Nov 06, 2025
Earnings Call Sentiment Positive
The earnings call reflected strong revenue growth, margin expansion, and technological advancements, with significant improvements in AI-driven operations and international growth. However, challenges remain in supplier services revenue and macroeconomic uncertainties, which may impact future performance.
Q2-2025 Updates
Positive Updates
Record Revenue Growth
Q2 revenue increased 23% year-over-year to $163 million, with a 26% increase in marketplace revenue. Gross margin reached 40.1%, a record for the company.
Marketplace Gross Margin Expansion
Marketplace gross margin increased to a record 35.4%, up 190 basis points year-over-year, driven by improvements in AI pricing and selection algorithms.
Strong Active Buyer Growth
Active buyers increased 22% year-over-year to 74,777, with a net addition of 3,323 active buyers.
International Revenue Growth
International revenue growth accelerated to 31% year-over-year, with strong expansion in Europe.
Improved Adjusted EBITDA
Adjusted EBITDA was $3.9 million, an improvement of $6.6 million year-over-year, driven by revenue growth and operating efficiencies.
AI and Technology Advancements
Significant advancements in AI and technology, including instant quoting, mobile app improvements, and Teamspace launch in Europe, driving operational leverage.
Convertible Debt Refinancing
Completed refinancing of convertible debt, improving financial terms and extending maturity to 2030, enhancing financial flexibility.
Negative Updates
Decline in Supplier Services Revenue
Supplier services revenue declined approximately 2% quarter-over-quarter, with expectations for further decline in Q3.
Macro Environment Uncertainty
Concerns about the uncertain macro environment persist, with manufacturing indices below 50 for an extended period.
Challenges in Gross Margin Stability
While Q2 gross margin was strong, there is acknowledgment that it may not be linear quarter-over-quarter, indicating potential fluctuations.
Company Guidance
During Xometry's Q2 2025 earnings call, the company reported a robust 23% year-over-year revenue increase to $163 million, driven by a 26% rise in marketplace growth and a record gross margin of 40.1%. This growth was supported by significant gains in the custom manufacturing market, powered by improved AI pricing and selection algorithms. The marketplace gross margin reached a record 35.4%, up 190 basis points year-over-year. Adjusted EBITDA improved by $6.6 million year-over-year, reaching $3.9 million. The company raised its full-year 2025 revenue growth outlook to 23%-24%, citing strong demand and execution. Xometry also highlighted advancements in its AI and technology initiatives, including instant quoting enhancements and the expansion of its Teamspace solution in Europe. The company continues to focus on enterprise growth, with a notable increase in accounts spending over $50,000 annually, underscoring its strategic focus on strengthening customer relationships and enhancing overall supply chain resilience.

Xometry Financial Statement Overview

Summary
Xometry faces significant financial challenges with moderate revenue growth but ongoing profitability and cash flow issues. High leverage and negative returns on equity further highlight financial instability.
Income Statement
45
Neutral
Xometry's income statement shows moderate revenue growth with a 5.22% increase in TTM, but profitability remains a concern. The company has a negative net profit margin of -10.20% and negative EBIT and EBITDA margins, indicating ongoing operational challenges. While gross profit margin is relatively healthy at 39.15%, the company needs to address its cost structure to improve overall profitability.
Balance Sheet
40
Negative
The balance sheet reveals a high debt-to-equity ratio of 1.24, indicating significant leverage which could pose financial risks. Return on equity is negative at -20.36%, reflecting ongoing losses. The equity ratio stands at 39.37%, suggesting a moderate level of equity financing. Overall, the balance sheet highlights financial instability and potential risks due to high leverage.
Cash Flow
35
Negative
Cash flow analysis shows challenges with negative free cash flow growth of -22.95% in TTM and a low operating cash flow to net income ratio of 0.02. The free cash flow to net income ratio is significantly negative, indicating cash flow issues. The company needs to improve cash generation to support its operations and reduce reliance on external financing.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue603.76M545.53M463.41M381.05M218.34M141.41M
Gross Profit236.35M215.62M178.26M147.57M57.14M33.29M
EBITDA-40.51M-28.20M-52.30M-59.53M-55.88M-25.83M
Net Income-61.60M-50.40M-67.47M-79.06M-61.38M-31.09M
Balance Sheet
Total Assets687.04M680.13M707.39M736.92M502.59M88.96M
Cash, Cash Equivalents and Short-Term Investments225.79M239.84M268.78M319.43M116.73M59.87M
Total Debt334.92M295.14M299.52M302.32M22.47M17.90M
Total Liabilities415.52M364.53M376.97M362.09M77.10M39.50M
Stockholders Equity270.40M314.45M329.30M373.74M424.45M49.46M
Cash Flow
Free Cash Flow-20.51M-33.48M-48.36M-76.22M-74.83M-26.24M
Operating Cash Flow1.30M-15.38M-29.88M-62.58M-68.57M-22.05M
Investing Cash Flow-11.84M-20.18M16.81M15.14M-212.75M6.67M
Financing Cash Flow4.89M4.64M1.07M280.97M307.77M35.26M

Xometry Technical Analysis

Technical Analysis Sentiment
Positive
Last Price49.26
Price Trends
50DMA
36.89
Positive
100DMA
32.80
Positive
200DMA
32.59
Positive
Market Momentum
MACD
3.52
Negative
RSI
64.91
Neutral
STOCH
79.98
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XMTR, the sentiment is Positive. The current price of 49.26 is above the 20-day moving average (MA) of 42.24, above the 50-day MA of 36.89, and above the 200-day MA of 32.59, indicating a bullish trend. The MACD of 3.52 indicates Negative momentum. The RSI at 64.91 is Neutral, neither overbought nor oversold. The STOCH value of 79.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for XMTR.

Xometry Risk Analysis

Xometry disclosed 62 risk factors in its most recent earnings report. Xometry reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Xometry Peers Comparison

Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
70
Neutral
$1.55B26.109.51%1.40%-0.38%-44.93%
69
Neutral
$2.54B45.368.37%0.61%9.64%-24.68%
64
Neutral
$10.82B16.318.85%2.03%2.58%-16.43%
62
Neutral
$1.80B51.753.93%0.66%-5.41%17.47%
55
Neutral
$1.79B-1.50%3.44%-7.93%91.44%
54
Neutral
$2.43B-21.02%20.19%-12.34%
44
Neutral
$707.11M-1.51%5.53%75.65%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
XMTR
Xometry
47.86
27.38
133.69%
HI
Hillenbrand
25.36
-6.92
-21.44%
SXI
Standex International
209.41
35.95
20.73%
HLIO
Helios Technologies
54.64
11.41
26.39%
TNC
Tennant Co
83.05
-12.79
-13.35%
KRNT
Kornit Digital
15.39
-4.11
-21.08%

Xometry Corporate Events

Executive/Board ChangesShareholder Meetings
Xometry Holds 2025 Annual Stockholders Meeting
Neutral
Jun 20, 2025

Xometry, Inc. held its 2025 Annual Meeting of Stockholders on June 18, 2025, where stockholders voted on three key proposals. The stockholders elected a Class I director to serve until 2028, approved the compensation of the company’s named executive officers, and ratified Deloitte and Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. These decisions reflect the company’s ongoing governance practices and commitment to maintaining transparency and accountability in its operations.

Private Placements and FinancingStock Buyback
Xometry Announces $225M Convertible Notes Offering
Neutral
Jun 12, 2025

On June 9, 2025, Xometry announced a proposed $225 million offering of Convertible Senior Notes due 2030 in a private placement. The proceeds from this offering are expected to be used for capped call transactions, repurchasing shares of Xometry’s Class A common stock, and repurchasing a portion of its outstanding 2027 notes. This strategic move aims to manage potential dilution, optimize capital structure, and potentially enhance market positioning, though it carries inherent market risks and uncertainties.

Executive/Board Changes
Xometry COO Peter Goguen to Depart by June 30
Neutral
May 27, 2025

On May 27, 2025, Xometry, Inc. announced that its Chief Operating Officer, Peter Goguen, will be leaving the company effective June 30, 2025. In accordance with his employment agreement, Mr. Goguen will receive payments and benefits upon his departure, contingent upon his compliance with certain conditions including a general release and waiver of claims.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 19, 2025