Xometry (XMTR) AI Stock Analysis

• Market Cap: $2.15B
• Dividend Yield: N/A
• Average Volume (3M): 1.23M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.20
• Revenue Growth: 22.40%
• EPS Growth: -18.99%
• Country: US
• Employees: 1,088
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 0.16
• Shares Outstanding: 49,772,346
• 10 Day Avg. Volume: 1,915,266
• 30 Day Avg. Volume: 1,226,352
• PEG Ratio: -2.65
• Price to Book (P/B): 10.96
• Price to Sales (P/S): 4.40
• P/FCF Ratio: -125.42
• Enterprise Value/Market Cap: 1.10
• Enterprise Value/Revenue: 3.46
• Enterprise Value/Gross Profit: 8.85
• Enterprise Value/Ebitda: -63.60
• 1Y Price Target: $58.75
• Price Target Upside: 39.91% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): 0.76
• Revenue Forecast (FY): $814.75M

• Rating: 47 Neutral
• Price Target: $40.00 ▼(-4.74% Downside)
• Action: Reiterated Date: 02/28/26
• Date: Action: Reiterated 02/28/26

The score is held down primarily by weak financial quality (ongoing net losses, negative free cash flow, and meaningful leverage) and bearish technicals (price below all major moving averages with negative MACD). These are partially offset by a strong and improving operational outlook from the latest earnings call, including solid growth and materially better adjusted EBITDA guidance, but valuation provides limited support given negative earnings and no dividend.

Positive Factors

Marketplace scale & product innovation

A large, expanding two‑sided network and continuous product launches strengthen durable network effects: more buyers attract more suppliers and vice versa, while AI and automation features reduce friction and increase win rates, supporting sustainable marketplace leadership and competitive barriers.

Revenue growth and margin improvement

Sustained top‑line acceleration combined with multi‑year marketplace margin expansion demonstrates improving unit economics and pricing power. This structural margin improvement enables operating leverage as scale increases, supporting a credible path from growth to sustainable profitability over time.

Improving cash generation and liquidity

Positive operating cash flow in 2025 and a sizable cash balance provide a durable liquidity cushion to fund product investments, international scaling, and potential volatility. The cash buffer and improving OCF reduce near‑term refinancing risk and support continued execution on strategic initiatives.

Negative Factors

Elevated leverage and negative free cash flow

Meaningful debt on a business that remains loss‑making and negative FCF constrains financial flexibility. Elevated leverage increases interest and refinancing risk, and persistent negative free cash flow implies ongoing external funding needs until operating cash conversion sustainably turns positive.

International segment still loss‑making

Continued losses in international operations suggest the company has not yet achieved profitable scale abroad. Persistent negative contributions require ongoing investment and operating leverage to fix, and they can dilute consolidated margins and cash generation until the region reaches profitability.

Customer concentration risk

A small set of very large accounts means material revenue exposure to a few buyers. This concentration increases earnings volatility and negotiation risk, making long‑term revenue durability dependent on retaining and diversifying large customers, which may require additional sales effort and contractual protections.

Xometry Business Overview & Revenue Model

Company Description

Xometry, 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 Money

Xometry generates revenue through a commission-based model whereby it takes a percentage of each transaction completed on its platform. The company earns money by facilitating the connection between customers seeking custom manufacturing services and suppliers capable of fulfilling those requests. Key revenue streams include the fees charged to manufacturers for each job they accept through the platform and potential subscription fees for premium services. Additionally, Xometry has formed strategic partnerships with manufacturers and industry organizations, enhancing its marketplace offerings and expanding its customer base, which contributes positively to its earnings.

Xometry Financial Statement Overview

Summary

Revenue is growing and gross margin is stable (~39% TTM), with operating cash flow turning slightly positive (~$6.1M TTM). However, the company remains unprofitable (EBIT margin ~-9.1%, net margin ~-9.8%), free cash flow is still negative (~-$24.1M TTM), and leverage is elevated for a loss-making profile (debt ~$339M; debt-to-equity ~1.23).

Income Statement

Revenue continues to expand, with TTM (Trailing-Twelve-Months) growth of 6.8% and a multi-year increase in sales. Gross margin has stabilized around ~39% (TTM), showing decent unit economics. However, profitability remains a key issue: TTM operating losses persist (EBIT margin around -9.1%) and net losses continue (net margin around -9.8%), indicating the business has not yet scaled to consistent earnings.

Balance Sheet

The balance sheet shows meaningful leverage for a still-loss-making company. Total debt rose to ~$339M in TTM (Trailing-Twelve-Months), pushing debt-to-equity to ~1.23 (up from ~0.94 in 2024), which reduces financial flexibility. Equity remains positive (~$276M), but returns on equity are materially negative in recent periods, reflecting ongoing losses and limiting balance-sheet strength despite a solid asset base (~$704M).

Cash Flow

Cash generation is improving but not yet sustainably positive. TTM (Trailing-Twelve-Months) operating cash flow turned slightly positive (~$6.1M) versus negative in prior years, a clear step in the right direction. Still, free cash flow remains negative (about -$24.1M TTM), implying the company is not self-funding after investment needs, and cash flow support for earnings is not yet strong given continued net losses.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	686.63M	545.53M	463.41M	380.92M	218.34M
Gross Profit	268.77M	215.62M	178.26M	145.99M	57.14M
EBITDA	-37.50M	-28.20M	-52.30M	-66.77M	-56.93M
Net Income	-61.75M	-50.40M	-67.47M	-79.06M	-61.38M
Balance Sheet
Total Assets	703.72M	680.13M	707.39M	734.11M	502.59M
Cash, Cash Equivalents and Short-Term Investments	219.14M	239.84M	268.78M	319.43M	116.73M
Total Debt	349.26M	295.14M	299.52M	302.32M	22.47M
Total Liabilities	426.98M	364.53M	376.97M	362.31M	77.10M
Stockholders Equity	275.60M	314.45M	329.30M	370.71M	424.45M
Cash Flow
Free Cash Flow	-24.09M	-33.48M	-48.36M	-76.22M	-74.83M
Operating Cash Flow	6.09M	-15.38M	-29.88M	-62.58M	-68.57M
Investing Cash Flow	-16.64M	-20.18M	16.81M	15.14M	-212.75M
Financing Cash Flow	2.89M	4.64M	1.07M	280.97M	307.77M

Xometry Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 41.99
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XMTR, the sentiment is Negative. The current price of 41.99 is below the 20-day moving average (MA) of 56.12, below the 50-day MA of 60.23, and below the 200-day MA of 49.23, indicating a bearish trend. The MACD of -5.04 indicates Positive momentum. The RSI at 33.50 is Neutral, neither overbought nor oversold. The STOCH value of 12.06 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for XMTR.

Xometry Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ITT	78 Outperform	$17.12B	33.14	17.85%	0.79%	8.01%	2.67%
SPXC	76 Outperform	$11.22B	44.65	13.56%	―	12.60%	24.02%
FLS	73 Outperform	$11.14B	33.49	16.49%	1.17%	3.19%	69.89%
PNR	68 Neutral	$16.02B	25.11	17.48%	0.96%	0.83%	-1.32%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
GNRC	60 Neutral	$13.52B	85.73	6.22%	―	5.52%	9.03%
XMTR	47 Neutral	$2.15B	-34.50	-20.93%	―	22.40%	-18.99%

Xometry Corporate Events

Xometry Announces CEO Succession and Board Leadership Changes

Xometry announced on February 24, 2026, that its board approved a leadership transition effective July 1, 2026, elevating President Sanjeev Singh Sahni to chief executive officer and adding him to the board as a Class I director, while expanding the board from six to seven members to accommodate his appointment. The company also detailed that current CEO Randolph Altschuler will step down from that role on July 1, 2026, to become executive chair for an indefinite term, and that current board chair Fabio Rosati will shift to lead independent director, moves that collectively reshape governance while keeping key leaders in influential positions.

These changes signal a planned succession that preserves continuity in Xometry’s strategic direction by retaining Altschuler as executive chair and promoting an internal leader to CEO. The revised board structure, including the enlarged board and a defined lead independent director role, may strengthen oversight and balance executive influence, with implications for investors focused on governance stability and long-term execution.

The most recent analyst rating on (XMTR) stock is a Hold with a $64.00 price target. To see the full list of analyst forecasts on Xometry stock, see the XMTR Stock Forecast page.