Xometry, Inc. XMTR

IndustrialsSoftware & IT ServicesUnited States of America

Last close 93.65 USD on Nov 1, 2026, +57.5% year to date

Quant rating

Quant rating B Rank 166 of 486 in Industrials

Growth A 7 of 486
Valuation D 455 of 486
Quality C 238 of 486
Revisions C 263 of 486
Momentum A 28 of 486

Wall Street consensus Buy (2.00)Average target 111.30 USD +18.8%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 5.4B
Enterprise value: 5.2B
52-week range: 35.89 – 112.51
3-year range: 11.28 – 112.51
Dividend yield: –
Beta (5 years): 1.33
Shares outstanding: 57.3M
Next earnings: Nov 3, 2026

About the company

Xometry, Inc. provides an artificial intelligence (AI)-powered marketplace, the Thomasnet.com industrial sourcing platform and a suite of cloud-based services. The Company provides manufacturers with the critical resources they need to grow their business and makes it easy for buyers to create locally resilient supply chains. It connects buyers with suppliers of manufacturing services. Xometry Instant Quoting Engine leverages millions of pieces of data to analyze complex parts in real-time, matches buyers with the right suppliers globally, and provides pricing and lead times. Its AI-enabled technology platform is powered by machine learning algorithms and datasets, resulting in a two-sided marketplace. It uses technology to enable product designers, engineers, buyers, and supply chain professionals to access the capacity of a global network of manufacturing facilities. Its suppliers’ capabilities include computer numerical control manufacturing, and sheet cutting, among others.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	687	546	463	381	218	–
Revenue growth	25.9%	17.7%	21.7%	74.5%	54.4%	37.2%
EPS (basic, normalized)	0.38	−0.04	−0.40	−0.85	−2.03	–
EPS growth	–	–	–	–	–	–
Gross margin	39.1%	39.5%	38.5%	38.3%	26.2%	36.3%
Net margin	−9.0%	−9.2%	−14.6%	−20.8%	−28.1%	−16.3%
ROE	−20.9%	−15.7%	−19.3%	−19.9%	−25.9%	−20.3%

Balance sheet, last quarter
Cash & short-term investments (mil)	517
Current ratio	3.21x
Long-term debt (mil)	243
Net debt (mil)	−187
Total equity (mil)	595
Net debt / equity	−0.31x
Net debt / EBITDA	−10.09x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	687	+25.9%	7.5x	18.5	+284.6%	279.7x	0.38	+1,050.0%	246.4x
2026	918	+33.7%	5.6x	57.5	+210.4%	90.1x	0.70	+83.3%	134.4x
2027	1,117	+21.7%	4.6x	97.1	+68.8%	53.4x	1.29	+84.9%	72.7x
2028	1,329	+18.9%	3.9x	133	+36.9%	39.0x	1.96	+52.0%	47.9x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	918	0.0%	+4.7%	+10.2%	0.70	0.0%	−4.1%	−3.4%
2027	1,117	0.0%	+6.7%	+13.3%	1.29	0.0%	−5.6%	+5.5%
2028	1,329	0.0%	+7.9%	+16.3%	1.96	0.0%	−8.3%	+24.8%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	123	133	142	149	151	163	181	192	205	229
Sales mean (mil)	120	129	138	146	148	157	168	183	188	215
Surprise	+2.4%	+3.1%	+2.9%	+1.5%	+1.9%	+3.8%	+7.4%	+5.1%	+9.1%	+6.6%
EPS reported	−0.12	−0.01	0.02	0.06	0.02	0.09	0.11	0.16	0.12	0.16
EPS mean	−0.13	−0.12	−0.02	0.03	0.00	0.04	0.10	0.11	0.10	0.16
Surprise	+10.3%	+92.0%	−186.4%	+104.6%	−550.5%	+100.5%	+6.8%	+45.2%	+16.1%	−2.0%

Peer comparison Software & IT Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
XMTR Xometry, Inc.	5.4B	−10.09x	−9.0%	8.98x	134.4x	72.7x	90.1x	53.4x
GOOGL Alphabet Inc.	3.43T	−0.67x	32.8%	5.08x	14.1x	18.6x	14.3x	10.9x
META Meta Platforms, Inc.	1.60T	0.01x	37.1%	5.77x	21.3x	18.2x	11.4x	8.9x
SHOP Shopify Inc.	202.6B	−2.48x	10.7%	16.01x	83.1x	64.3x	70.8x	53.4x
UBER Uber Technologies, Inc.	133.3B	0.96x	19.3%	4.87x	19.8x	14.4x	12.7x	10.3x
ABNB Airbnb, Inc.	96.9B	−2.23x	20.5%	12.88x	30.9x	26.2x	17.3x	15.1x
Mean		−2.42x	18.6%	8.93x	50.6x	35.7x	36.1x	25.3x
Median		−1.45x	19.9%	7.37x	26.1x	22.4x	15.8x	13.0x

Technical analysis

1M−9.2%
3M+12.8%
1Y+89.6%
3Y+565.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Xometry, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	687	546	463	381	218	141
Cost of revenue	418	330	285	235	161	108
Gross profit	269	216	178	146	57.1	33.3
Selling, general & administrative expenses	263	229	212	186	97.4	47.6
Research & development	32.8	31.2	28.4	27.1	15.0	10.5
Depreciation/amortization	17.7	11.9	10.2	7.4	3.5	2.9
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	1.3	0.1	1.1	2.4	0.3	1.6
Other operating expenses	0	0	0	0	0	0
Operating income	−45.5	−56.1	−73.6	−77.1	−59.0	−29.2
Net interest income (expense)	4.1	6.5	7.3	−1.6	−1.7	−1.1
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−19.7	−0.8	−1.5	−0.3	−0.7	−0.8
Net income before taxes	−61.2	−50.4	−67.8	−79.0	−61.4	−31.1
Provision for taxes	0.6	0	−0.4	0	–	–
Minority interest	0	0	0	0	0	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−61.7	−50.4	−67.5	−79.1	−61.4	−31.1
Extraordinary items	–	–	–	–	–	–
Net income	−61.7	−50.4	−67.5	−79.1	−61.4	−31.1
EBIT, normalized	−26.6	−55.4	−62.3	−73.8	−53.0	−27.6
EBITDA, normalized	−8.2	−51.8	−52.0	−70.0	−49.4	−24.5
Basic EPS, normalized	0.38	−0.04	−0.40	−0.85	−2.03	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Xometry, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	219	240	269	319	117	59.9
Receivables	97.4	74.0	70.1	49.3	32.4	14.6
Total inventory	3.9	3.9	2.9	1.6	2.0	2.3
Prepaid expenses	7.3	5.0	5.6	7.6	6.7	0.9
Other current assets	7.0	4.9	8.9	9.4	5.6	0
Total current assets	335	328	356	387	163	77.7
Property, plant & equipment	71.8	53.3	47.9	45.0	37.8	8.0
Goodwill	264	263	263	258	255	0.8
Intangibles	28.6	32.1	35.8	39.4	41.7	1.7
Long-term investments	4.1	4.1	4.1	4.1	4.2	–
Note receivable	–	–	–	–	–	–
Other long-term assets	0.9	0.4	0.5	0.4	0.8	0.8
Total assets	704	680	707	734	503	89.0
Liabilities
Accounts payable	44.6	35.0	24.7	12.4	12.7	5.6
Payable/accrued	–	–	–	–	–	–
Accrued expenses	33.7	30.8	48.6	38.9	36.5	14.6
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	–	0	15.8
Other current liabilities	10.6	8.9	9.8	12.7	7.9	2.4
Total current liabilities	88.9	74.8	83.2	64.0	57.0	38.4
Long-term debt	328	284	282	280	0	0
Minority interest	1.1	1.1	1.1	1.1	1.0	–
Other liabilities	10.5	6.1	12.0	18.4	20.1	1.1
Total liabilities	428	366	378	363	78.1	39.5
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0	0	0	0	0	0
Additional paid-in capital	711	685	648	623	598	0.5
Retained earnings (accumulated deficit)	−432	−370	−320	−252	−173	−112
Treasury stock	−8.1	–	–	–	–	–
Other equity	4.8	−0.3	0.9	0	0.1	161
Total equity	276	314	329	371	424	49.5
Total liabilities & shareholders' equity	704	680	707	734	503	89.0

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Xometry, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−61.7	−50.4	−67.5	−76.0	−61.4	−31.1
Depreciation, depletion & amortization	18.8	13.0	10.7	7.8	3.6	3.1
Deferred taxes	−0.1	0	−0.2	−0.7	−0.2	–
Non-cash items	62.7	37.5	40.6	35.8	13.0	3.9
Changes in working capital	−13.6	−15.5	−13.6	−29.5	−23.6	2.0
Cash from operations	6.1	−15.4	−29.9	−62.6	−68.6	−22.0
Investing activities
Capital expenditures	−30.2	−18.1	−18.5	−13.7	−6.3	−4.2
Other investing cash flows	13.5	−2.1	35.3	−225	−206	10.9
Cash from investing	−16.6	−20.2	16.8	−239	−213	6.7
Financing activities
Financing cash flow items	−26.1	−0.5	−0.8	−10.2	−3.7	−8.8
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	29.0	5.1	1.9	291	311	44.1
Cash from financing	2.9	4.6	1.1	281	308	35.3
Foreign exchange effects	0.4	−0.3	−0.2	−0.4	−0.1	−0.1
Net change in cash	−7.2	−31.2	−12.2	−20.6	26.4	19.8
Free cash flow	−24.1	−33.5	−48.4	−76.2	−74.8	−26.2

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.