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Xometry
(NASDAQ:XMTR)
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Rating:58Neutral
Price Target:
$112.00
▲(27.59% Upside)
Action:Reiterated
Date:08/04/26
XMTR scores mid-range mainly because fundamentals are improving but still below investment-grade quality: the company remains loss-making with negative free cash flow and elevated leverage despite positive operating cash flow. The strongest offset is the earnings call, where management raised revenue and adjusted-EBITDA guidance and highlighted accelerating marketplace growth and improving unit economics. Technicals are currently soft (below key short-term averages with negative MACD), and valuation support is limited given a negative P/E and no dividend yield.
Positive Factors
Accelerating Marketplace Growth
Rapid marketplace growth indicates stronger customer adoption and expanding transaction volume across Xometry’s platform. If sustained, this scale can improve network utilization, deepen buyer and supplier engagement, and support continued operating leverage over the next several quarters.
Negative Factors
Persistent Net Losses
Although losses are narrowing, continued negative operating profit and net income mean the business has not yet demonstrated sustainable profitability. This limits earnings resilience and leaves future financial improvement dependent on continued growth and execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating Marketplace Growth
Rapid marketplace growth indicates stronger customer adoption and expanding transaction volume across Xometry’s platform. If sustained, this scale can improve network utilization, deepen buyer and supplier engagement, and support continued operating leverage over the next several quarters.
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
$5.16B
Dividend YieldN/A
Average Volume (3M)871.63K
Price to Earnings (P/E)―
Beta (1Y)2.71
Revenue Growth33.75%
EPS Growth51.47%
CountryUS
Employees1,174
SectorIndustrials
Sector Strength72
IndustryIndustrial - Distribution
Share Statistics
EPS (TTM)-0.60
Shares Outstanding55,848,263
10 Day Avg. Volume750,350
30 Day Avg. Volume871,625
Financial Highlights & Ratios
PEG Ratio-2.64
Price to Book (P/B)10.96
Price to Sales (P/S)4.40
P/FCF Ratio-125.42
Enterprise Value/Market Cap0.98
Enterprise Value/Revenue6.26
Enterprise Value/Gross Profit16.16
Enterprise Value/Ebitda-1.29K
Forecast
1Y Price Target
$111.67Price Target Upside27.21% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)0.7
Revenue Forecast (FY)$914.54M
Xometry Business Overview & Revenue Model
Company Description
Xometry, Inc. manages a global digital marketplace designed to streamline the sourcing of custom manufactured components and assemblies. The company's extensive service portfolio encompasses both traditional and cutting-edge manufacturing processe...
How the Company Makes Money
Xometry primarily makes money through its manufacturing marketplace by facilitating transactions between customers ordering custom-manufactured parts and third-party manufacturing partners that fulfill those orders. In this model, Xometry typicall...
Xometry Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
The call was decidedly positive: Xometry reported record Q2 results with strong double‑digit revenue and gross profit growth, materially improved adjusted EBITDA and margins, robust active buyer growth, and multiple AI-driven product enhancements that are driving conversion and unit‑economics improvements. Management raised revenue and profitability guidance and highlighted strategic partnerships (notably Siemens) and a solid balance sheet to fund continued expansion. Negatives are relatively modest: international operations remain a small loss, services monetization is still stabilizing, Q2 gross margin had slight YoY pressure, and near‑term investment for partnerships will weigh on short-term margins. Overall, the positives (strong top-line acceleration, margin expansion, AI product traction, and cash strength) significantly outweigh the lowlights.Positive Updates
Record Revenue and Accelerating Growth
Q2 revenue of $229.0M, up 41% year-over-year; fourth consecutive quarter of accelerating revenue growth and management raised full-year revenue growth guidance to 33%–34% (from 27%–28%). Q3 revenue guide $234M–$236M (30%–31% YoY).
Negative Updates
International Segment Still Loss-Making
International segment recorded an adjusted EBITDA loss of $3.3M in Q2 2026 (‑9.6% of revenue), though improved 140 bps versus prior year — international remains a drag on consolidated profitability until further scaling.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Revenue and Accelerating Growth
Q2 revenue of $229.0M, up 41% year-over-year; fourth consecutive quarter of accelerating revenue growth and management raised full-year revenue growth guidance to 33%–34% (from 27%–28%). Q3 revenue guide $234M–$236M (30%–31% YoY).
Read all positive updates
Company Guidance
Xometry raised guidance for the back half of 2026: Q3 revenue is guided to $234–$236M (≈30–31% YoY) with marketplace growth ~33%, services revenue modestly up, and adjusted EBITDA of $16–17M (vs. $6.1M in Q3 2025). For the full year they now expect revenue growth of 33–34% (up from 27–28%), marketplace growth of ~37%, and adjusted EBITDA of $60–62M; for H2 they forecast ≈30% revenue growth YoY and roughly 20% incremental adjusted EBITDA. Management cited Q2 as the foundation for the raise (Q2 revenue $229M — marketplace $215M, services $13.9M; gross profit $87.5M; marketplace gross margin 34.7%; Q2 adjusted EBITDA $14.1M, margin 6.2%; active buyers 89,557, +20% YoY, +3,976 net adds), plus cash and marketable securities of $517M, H1 operating cash flow of $17M and ~ $13M Q2 cash CapEx as supporting the outlook.Xometry Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
45
Neutral
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 807.53M | 686.63M | 545.53M | 463.41M | 380.92M | 218.34M |
| Gross Profit | 312.91M | 268.77M | 215.62M | 178.26M | 145.99M | 57.14M |
| EBITDA | -3.92M | -37.50M | -32.66M | -52.30M | -66.77M | -56.93M |
| Net Income | -30.82M | -61.75M | -50.40M | -67.47M | -79.06M | -61.38M |
Balance Sheet | ||||||
| Total Assets | 1.06B | 703.72M | 680.13M | 707.39M | 734.11M | 502.59M |
| Cash, Cash Equivalents and Short-Term Investments | 516.67M | 219.14M | 239.84M | 268.78M | 319.43M | 116.73M |
| Total Debt | 339.77M | 349.26M | 295.14M | 299.52M | 302.32M | 22.47M |
| Total Liabilities | 461.63M | 426.98M | 364.53M | 376.97M | 362.31M | 77.10M |
| Stockholders Equity | 595.02M | 275.60M | 314.45M | 329.30M | 370.71M | 424.45M |
Cash Flow | ||||||
| Free Cash Flow | -13.95M | -24.09M | -33.48M | -48.36M | -76.22M | -74.83M |
| Operating Cash Flow | 27.73M | 6.09M | -15.38M | -29.88M | -62.58M | -68.57M |
| Investing Cash Flow | -327.53M | -16.64M | -20.18M | 16.81M | 15.14M | -212.75M |
| Financing Cash Flow | 304.82M | 2.89M | 4.64M | 1.07M | 280.97M | 307.77M |
Xometry Technical Analysis
Positive
87.78
Price Trends
95.32
Positive
93.18
Positive
75.45
Positive
Market Momentum
-1.90
Positive
50.55
Neutral
37.17
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 87.78 is below the 20-day moving average (MA) of 99.70, below the 50-day MA of 95.32, and above the 200-day MA of 75.45, indicating a neutral trend. The MACD of -1.90 indicates Positive momentum. The RSI at 50.55 is Neutral, neither overbought nor oversold. The STOCH value of 37.17 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 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | $60.20B | 42.31 | 35.13% | 1.83% | 13.53% | 15.58% | |
78 Outperform | $63.94B | 34.60 | 48.70% | 0.70% | 7.80% | -0.65% | |
75 Outperform | $1.70B | 19.93 | 26.97% | 2.46% | 8.43% | 29.47% | |
74 Outperform | $11.93B | 29.28 | 22.17% | 0.61% | 8.84% | 8.10% | |
66 Neutral | $6.63B | 29.75 | 15.87% | 2.93% | 6.37% | 11.56% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | $5.16B | -150.08 | -8.65% | ― | 33.75% | 51.47% |
* Industrials Sector Average
XMTR
Xometry
97.14
47.75
96.68%
AIT
Applied Industrial Technologies
297.58
41.28
16.10%
FAST
Fastenal Company
51.55
10.59
25.87%
MSM
MSC Industrial
118.38
37.14
45.72%
GIC
Global Industrial Company
44.60
10.71
31.59%
GWW
WW Grainger
1,342.72
387.14
40.51%
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.