Xometry (XMTR)
NASDAQ:XMTR
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Xometry
(NASDAQ:XMTR)
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Rating:64Neutral
Price Target:
$86.00
▲(74.09% Upside)
Action:Reiterated
Date:05/09/26
The score is primarily supported by very strong earnings-call momentum (accelerating growth, sharply better adjusted EBITDA, and raised guidance) and positive trend in financial fundamentals (improving margins and operating cash flow). Offsetting factors are still-negative profitability and free cash flow with elevated leverage, plus technical indicators showing an overextended rally and limited valuation support given a negative P/E and no dividend yield.
Positive Factors
Marketplace scale and buyer engagement
Sustained growth in active buyers, higher spend per buyer, and rising number of high‑value accounts indicate durable network effects. Greater buyer depth supports sticky revenue, improves utilization of supplier capacity, and increases potential take‑rate and margin leverage over time.
Negative Factors
Ongoing net losses
Despite operational progress, persistent negative net margins mean the business has not yet converted revenue growth into consistent bottom‑line profits. Continued losses can erode equity, constrain reinvestment, and keep reliance on external capital until sustained profitability is achieved.
Read all positive and negative factors
Positive Factors
Negative Factors
Marketplace scale and buyer engagement
Sustained growth in active buyers, higher spend per buyer, and rising number of high‑value accounts indicate durable network effects. Greater buyer depth supports sticky revenue, improves utilization of supplier capacity, and increases potential take‑rate and margin leverage over time.
Read all positive factors
Xometry Key Performance Indicators (KPIs)
Any
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.
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.
Data provided by:
The Fly
The FlyXometry (XMTR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.46B
Dividend YieldN/A
Average Volume (3M)797.83K
Price to Earnings (P/E)―
Beta (1Y)2.48
Revenue Growth29.10%
EPS Growth-3.32%
CountryUS
Employees1,088
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)-1.02
Shares Outstanding50,349,113
10 Day Avg. Volume692,785
30 Day Avg. Volume797,827
Financial Highlights & Ratios
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 Cap1.04
Enterprise Value/Revenue6.28
Enterprise Value/Gross Profit16.00
Enterprise Value/Ebitda-169.51
Forecast
1Y Price Target
$82.63Price Target Upside67.26% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)0.7
Revenue Forecast (FY)$871.00M
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 ser...
How the Company Makes Money
Xometry generates revenue primarily through its marketplace model: customers submit part specifications, Xometry provides pricing/lead time and manages order fulfillment by routing jobs to manufacturing partners in its supplier network. The compan...
Xometry Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call communicated strong, broad-based operational momentum: accelerated top-line growth, sizable improvements in gross profit and adjusted EBITDA, product and AI-driven enhancements, improved operating efficiency, and a strategic $50M Siemens partnership that meaningfully extends distribution and design-integrated sourcing capabilities. Remaining challenges include a still-loss-making international business, flat services revenue amid an ad platform transition, and investor questions about the pace implied by full-year guidance (which currently excludes Siemens benefits). Overall, the positives — record financial results, margin expansion, product-led customer gains, and a major strategic partnership — substantially outweigh the near-term transition and international profitability challenges.Positive Updates
Record Q1 Revenue and Accelerating Growth
Q1 revenue grew 36% year-over-year to $205.0M, a 600 basis point sequential acceleration from Q4; Marketplace revenue was $191.0M, up 40% year-over-year (700 bps acceleration).
Negative Updates
Services Revenue Stabilization and Transition
Services revenue was roughly flat quarter-over-quarter and the company expects services to be approximately flat for full-year 2026 while transitioning the newly launched Thomas ad serving platform and search upgrades, indicating limited near-term growth from services.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Q1 Revenue and Accelerating Growth
Q1 revenue grew 36% year-over-year to $205.0M, a 600 basis point sequential acceleration from Q4; Marketplace revenue was $191.0M, up 40% year-over-year (700 bps acceleration).
Read all positive updates
Company Guidance
Xometry guided Q2 revenue of $214–$216 million (up ~32–33% year-over-year), with Q2 Marketplace growth of roughly 35–36% YoY, services revenue largely flat quarter-over-quarter, and Q2 adjusted EBITDA of $11–$12 million (versus $3.9 million in Q2 2025). For full‑year 2026 they raised revenue growth guidance to at least 27–28% (up from a prior 21%), driven by about 30% Marketplace growth, expect Marketplace gross margins to be higher than 2025, services roughly flat with modest growth in H2, and target incremental adjusted EBITDA margins of at least 20%.Xometry Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
45
Neutral
Cash Flow
47
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 740.80M | 686.63M | 545.53M | 463.41M | 380.92M | 218.34M |
| Gross Profit | 290.93M | 268.77M | 215.62M | 178.26M | 145.99M | 57.14M |
| EBITDA | -27.46M | -37.50M | -28.20M | -52.30M | -66.77M | -56.93M |
| Net Income | -51.94M | -61.75M | -50.40M | -67.47M | -79.06M | -61.38M |
Balance Sheet | ||||||
| Total Assets | 740.26M | 703.72M | 680.13M | 707.39M | 734.11M | 502.59M |
| Cash, Cash Equivalents and Short-Term Investments | 223.97M | 219.14M | 239.84M | 268.78M | 319.43M | 116.73M |
| Total Debt | 339.79M | 349.26M | 295.14M | 299.52M | 302.32M | 22.47M |
| Total Liabilities | 457.09M | 426.98M | 364.53M | 376.97M | 362.31M | 77.10M |
| Stockholders Equity | 282.02M | 275.60M | 314.45M | 329.30M | 370.71M | 424.45M |
Cash Flow | ||||||
| Free Cash Flow | -10.52M | -24.09M | -33.48M | -48.36M | -76.22M | -74.83M |
| Operating Cash Flow | 24.74M | 6.09M | -15.38M | -29.88M | -62.58M | -68.57M |
| Investing Cash Flow | -22.29M | -16.64M | -20.18M | 16.81M | 15.14M | -212.75M |
| Financing Cash Flow | 2.87M | 2.89M | 4.64M | 1.07M | 280.97M | 307.77M |
Xometry Technical Analysis
Positive
49.40
Price Trends
46.30
Positive
53.77
Negative
50.58
Negative
Market Momentum
0.46
Negative
63.13
Neutral
84.25
Negative
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 49.4 is above the 20-day moving average (MA) of 42.19, above the 50-day MA of 46.30, and below the 200-day MA of 50.58, indicating a neutral trend. The MACD of 0.46 indicates Negative momentum. The RSI at 63.13 is Neutral, neither overbought nor oversold. The STOCH value of 84.25 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for XMTR.
Xometry Risk Analysis
Xometry disclosed 64 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
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $10.06B | 37.82 | 12.67% | ― | 17.39% | 20.78% | |
69 Neutral | $17.39B | 54.00 | 13.03% | 0.79% | 16.63% | -9.75% | |
68 Neutral | $15.52B | 38.94 | 7.18% | ― | -0.51% | -44.42% | |
66 Neutral | $11.75B | 20.53 | 17.74% | 0.96% | 3.10% | 4.96% | |
64 Neutral | $4.46B | -100.63 | -18.89% | ― | 29.10% | -3.32% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $8.32B | 28.68 | 15.93% | 1.17% | 0.83% | 26.77% |
* Industrials Sector Average
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Xometry Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Xometry Forms Strategic AI Manufacturing Partnership with Siemens
Positive
May 8, 2026
On May 6, 2026, Xometry entered into a strategic collaboration agreement with Siemens to develop a software solution that embeds Xometry’s AI-driven manufacturability, pricing, sourcing and execution intelligence into Siemens’ design-t...
Business Operations and StrategyExecutive/Board Changes
Xometry Announces CEO Succession and Board Leadership Changes
Positive
Feb 24, 2026
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 t...
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.