Xometry (XMTR)


Market Price (8/24/2026): $83.54 | Market Cap: $4.5 BilSector: Industrials | Industry: Trading Companies & Distributors

Xometry (XMTR)


Market Price (8/24/2026): $83.54
Market Cap: $4.5 Bil
Sector: Industrials
Industry: Trading Companies & Distributors

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 34%

Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, E-commerce & DTC Adoption, and Automation & Robotics. Themes include Online Marketplaces, Show more.

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -31 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.8%

Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 163x

Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.7%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 96%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.1%

Short seller report

Key risks
XMTR key risks include [1] an ongoing inability to achieve GAAP profitability and [2] a limited market share in a highly competitive environment.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 34%
1 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, E-commerce & DTC Adoption, and Automation & Robotics. Themes include Online Marketplaces, Show more.
2 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -31 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.8%
3 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 163x
4 Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.7%
5 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 96%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.1%
7 Short seller report
8 Key risks
XMTR key risks include [1] an ongoing inability to achieve GAAP profitability and [2] a limited market share in a highly competitive environment.

XMTR in ETFs

Weight = XMTR's share of each fund

VTI0.01%
ITOT0.01%
IWM0.12%
VB0.05%
IWO0.24%
VTWO0.12%
VBK0.12%
SCHA0.08%
+5 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/20/2026

Xometry (XMTR) stock has gained about 65% since 4/30/2026 because of the following key factors:

1. Xometry delivered robust financial results in fiscal Q1 2026 and fiscal Q2 2026, consistently surpassing analyst expectations.

In fiscal Q1 2026, Xometry reported record revenue of $205 million, marking a 36% year-over-year increase, with marketplace revenue growing 40%. The company also achieved an Adjusted EBITDA of $10.5 million, a significant improvement of $10.4 million year-over-year. This performance exceeded analyst consensus for EPS, which was reported at $0.12 against an estimated $0.07 to $0.1054. Following this, in fiscal Q2 2026, Xometry continued its strong trajectory, reporting record revenue of $229 million, representing 41% year-over-year growth and marking the fourth consecutive quarter of accelerating revenue growth. Fiscal Q2 marketplace revenue accelerated to 45% year-over-year growth, and Adjusted EBITDA improved by $10.2 million year-over-year to $14.1 million. The company beat analyst expectations with revenue of $229.28 million against a consensus of $213.4 million to $215.22 million, and an EPS of $0.16 against a consensus of $0.15 to $0.1665.

2. The company raised its full-year 2026 financial guidance, signaling increased confidence in sustained growth and profitability.

Following the strong performance in fiscal Q2 2026, Xometry increased its full-year 2026 revenue growth outlook to 33-34%, an acceleration from its previous guidance of 27-28%. The company also significantly raised its Adjusted EBITDA projection for the full year to a range of $60 million to $62 million. For fiscal Q3 2026, Xometry provided guidance expecting revenue between $234 million and $236 million, representing 30-31% year-over-year growth, with an anticipated Adjusted EBITDA of $16 million to $17 million.

Show more
Updated on 8/20/2026

Xometry (XMTR) stock has gained about 65% since 4/30/2026 because of the following key factors:

1. Xometry delivered robust financial results in fiscal Q1 2026 and fiscal Q2 2026, consistently surpassing analyst expectations.

In fiscal Q1 2026, Xometry reported record revenue of $205 million, marking a 36% year-over-year increase, with marketplace revenue growing 40%. The company also achieved an Adjusted EBITDA of $10.5 million, a significant improvement of $10.4 million year-over-year. This performance exceeded analyst consensus for EPS, which was reported at $0.12 against an estimated $0.07 to $0.1054. Following this, in fiscal Q2 2026, Xometry continued its strong trajectory, reporting record revenue of $229 million, representing 41% year-over-year growth and marking the fourth consecutive quarter of accelerating revenue growth. Fiscal Q2 marketplace revenue accelerated to 45% year-over-year growth, and Adjusted EBITDA improved by $10.2 million year-over-year to $14.1 million. The company beat analyst expectations with revenue of $229.28 million against a consensus of $213.4 million to $215.22 million, and an EPS of $0.16 against a consensus of $0.15 to $0.1665.

2. The company raised its full-year 2026 financial guidance, signaling increased confidence in sustained growth and profitability.

Following the strong performance in fiscal Q2 2026, Xometry increased its full-year 2026 revenue growth outlook to 33-34%, an acceleration from its previous guidance of 27-28%. The company also significantly raised its Adjusted EBITDA projection for the full year to a range of $60 million to $62 million. For fiscal Q3 2026, Xometry provided guidance expecting revenue between $234 million and $236 million, representing 30-31% year-over-year growth, with an anticipated Adjusted EBITDA of $16 million to $17 million.

3. Xometry announced a strategic partnership with Siemens, which included a $50 million equity investment, reinforcing its market position and financial strength.

In May 2026, coinciding with its fiscal Q1 earnings report, Xometry disclosed a strategic partnership with Siemens. As part of this collaboration, Siemens made a $50 million investment in Xometry's Class A common stock. This partnership aims to integrate Xometry's manufacturability analysis, pricing, and sourcing capabilities directly into the Siemens Xcelerator platform, enhancing Xometry's reach and validating its AI-powered manufacturing marketplace. This investment contributed to a significant increase in Xometry's cash and cash equivalents, reaching $517 million as of June 30, 2026.

4. Analyst sentiment turned increasingly positive, with multiple firms raising price targets and maintaining favorable ratings.

Following Xometry's strong fiscal Q1 and Q2 2026 results and strategic announcements, several investment firms revised their outlooks positively. Analysts at Wedbush, Goldman Sachs, Citizens Jmp, UBS, Cantor Fitzgerald, and Rosenblatt Securities, among others, raised their price targets for Xometry. The consensus analyst rating for XMTR during this period generally shifted towards a "Moderate Buy" or "Buy," with an average price target ranging from $101.88 to $109.22. This upward revision in price targets and optimistic ratings reflected growing confidence in the company's financial performance and strategic direction.

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Stock Movement Drivers

Fundamental Drivers

The 63.0% change in XMTR stock from 4/30/2026 to 8/23/2026 was primarily driven by a 46.6% change in the company's P/S Multiple.
(LTM values as of)43020268232026Change
Stock Price ($)51.2783.5963.0%
Change Contribution By: 
Total Revenues ($ Mil)68780817.6%
P/S Multiple3.85.646.6%
Shares Outstanding (Mil)5154-5.4%
Cumulative Contribution63.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/23/2026
ReturnCorrelation
XMTR63.0% 
Market (SPY)6.5%25.4%
Sector (XLI)3.2%-0.4%

Fundamental Drivers

The 46.3% change in XMTR stock from 1/31/2026 to 8/23/2026 was primarily driven by a 25.6% change in the company's Total Revenues ($ Mil).
(LTM values as of)13120268232026Change
Stock Price ($)57.1383.5946.3%
Change Contribution By: 
Total Revenues ($ Mil)64380825.6%
P/S Multiple4.55.624.0%
Shares Outstanding (Mil)5154-6.1%
Cumulative Contribution46.3%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/23/2026
ReturnCorrelation
XMTR46.3% 
Market (SPY)11.0%35.1%
Sector (XLI)9.3%19.6%

Fundamental Drivers

The 158.5% change in XMTR stock from 7/31/2025 to 8/23/2026 was primarily driven by a 97.8% change in the company's P/S Multiple.
(LTM values as of)73120258232026Change
Stock Price ($)32.3483.59158.5%
Change Contribution By: 
Total Revenues ($ Mil)57480840.7%
P/S Multiple2.85.697.8%
Shares Outstanding (Mil)5054-7.2%
Cumulative Contribution158.5%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/23/2026
ReturnCorrelation
XMTR158.5% 
Market (SPY)22.2%27.6%
Sector (XLI)19.8%19.1%

Fundamental Drivers

The 302.6% change in XMTR stock from 7/31/2023 to 8/23/2026 was primarily driven by a 128.2% change in the company's P/S Multiple.
(LTM values as of)73120238232026Change
Stock Price ($)20.7683.59302.6%
Change Contribution By: 
Total Revenues ($ Mil)403808100.6%
P/S Multiple2.55.6128.2%
Shares Outstanding (Mil)4854-12.0%
Cumulative Contribution302.6%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2023 to 8/23/2026
ReturnCorrelation
XMTR302.6% 
Market (SPY)73.2%37.7%
Sector (XLI)70.0%35.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
XMTR Return-41%-37%11%19%39%40%-5%
Peers Return19%-56%20%-29%-6%42%-40%
S&P 500 Return27%-19%24%23%16%12%103%

Monthly Win Rates [3]
XMTR Win Rate14%50%42%50%58%38% 
Peers Win Rate42%33%53%36%47%58% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
XMTR Max Drawdown--53%-69%-69%-55%-50% 
Peers Max Drawdown-71%-64%-53%-53%-46%-31% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: PRLB, SSYS, DDD.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/21/2026 (YTD)

How Low Can It Go

EventXMTRS&P 500
2025 US Tariff Shock
  % Loss-47.9%-18.8%
  % Gain to Breakeven92.0%23.1%
  Time to Breakeven119 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-34.5%-9.5%
  % Gain to Breakeven52.6%10.5%
  Time to Breakeven25 days24 days
2023 SVB Regional Banking Crisis
  % Loss-65.3%-6.7%
  % Gain to Breakeven188.0%7.1%
  Time to Breakeven236 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-48.8%-24.5%
  % Gain to Breakeven95.2%32.4%
  Time to Breakeven120 days427 days

Compare to PRLB, SSYS, DDD

In The Past

Xometry's stock fell -47.9% during the 2025 US Tariff Shock. Such a loss loss requires a 92.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventXMTRS&P 500
2025 US Tariff Shock
  % Loss-47.9%-18.8%
  % Gain to Breakeven92.0%23.1%
  Time to Breakeven119 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-34.5%-9.5%
  % Gain to Breakeven52.6%10.5%
  Time to Breakeven25 days24 days
2023 SVB Regional Banking Crisis
  % Loss-65.3%-6.7%
  % Gain to Breakeven188.0%7.1%
  Time to Breakeven236 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-48.8%-24.5%
  % Gain to Breakeven95.2%32.4%
  Time to Breakeven120 days427 days

Compare to PRLB, SSYS, DDD

In The Past

Xometry's stock fell -47.9% during the 2025 US Tariff Shock. Such a loss loss requires a 92.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Xometry (XMTR)

Xometry, Inc. operates a global online marketplace that revolutionizes how companies source custom-manufactured parts and assemblies. Acting as a digital intermediary, Xometry connects buyers with a vast network of manufacturing services, streamlining the traditionally complex procurement process. This platform allows businesses to efficiently obtain specialized components and production capabilities, making advanced manufacturing more accessible and agile.

The company offers an extensive range of manufacturing services through its marketplace. These include traditional techniques such as CNC machining (milling, turning), various sheet metal processes (cutting, forming), and comprehensive injection molding solutions (plastic, over, insert, prototype, and tooling). Xometry also specializes in advanced 3D printing technologies, including FDM, SLS, SLA, and metal 3D printing. Beyond these core offerings, it provides additional specialized services like urethane and die casting, vapor smoothing, finishing, rapid prototyping, and high-volume production.

Xometry serves a wide array of industries and customer segments, underscoring the versatility of its platform. Its client base spans critical sectors such as aerospace and defense, automotive, consumer products, and electronics. The company also supports product designers, educational institutions, energy firms, hardware startups, and businesses within the industrial, medical, dental, and robotics fields, alongside general supply chain and purchasing departments seeking efficient manufacturing solutions.

AI Analysis | Feedback

Amazon for custom manufacturing.

Upwork for manufacturing services.

Alibaba for made-to-order industrial parts.

AI Analysis | Feedback

Xometry (XMTR) provides a marketplace for various on-demand manufacturing services:
  • CNC Machining Services: Offers precise manufacturing capabilities through computer numerical control (CNC) machining, milling, and turning.
  • Sheet Metal Fabrication Services: Provides custom sheet metal parts using a range of cutting (laser, waterjet, plasma) and forming techniques.
  • 3D Printing Services: Delivers additive manufacturing solutions utilizing multiple technologies, including SLA, FDM, MJF, SLS, and various metal 3D printing methods.
  • Injection Molding Services: Specializes in producing plastic parts through processes such as plastic, over, insert, and prototype molding.
  • Casting, Finishing & Assembly Services: Facilitates custom manufacturing with services like urethane and die casting, vapor smoothing, finishing, and product assembly.

AI Analysis | Feedback

Xometry, Inc. (XMTR) operates primarily as a business-to-business (B2B) marketplace, connecting buyers of custom manufactured parts and assemblies with sellers. Due to the nature of its marketplace business model, Xometry serves a diverse and fragmented customer base across numerous industries rather than having a few publicly disclosed "major customers" by name.

Therefore, Xometry's customers are best described by the broad categories of industries it serves. These include:

  • Aerospace and Defense
  • Automotive
  • Consumer Products
  • Product Designers
  • Education
  • Electronic and Semiconductors
  • Energy
  • Hardware Startups
  • Industrial
  • Medical and Dental
  • Robotics
  • Supply Chain and Purchasing

These categories represent the various types of companies and organizations that utilize Xometry's platform to source manufacturing services.

AI Analysis | Feedback

  • OSG Corporation (6136.T)
  • Kyocera Corporation (6971.T)
  • Mitsubishi Materials Corporation (5711.T)
  • Sandvik AB (SAND.ST)

AI Analysis | Feedback

Randy Altschuler, Chief Executive Officer (will transition to Executive Chair on July 1, 2026)

Randy Altschuler is the co-founder of Xometry, which he helped take public in 2021. Prior to co-founding Xometry in 2013, he co-founded and served as Executive Chairman of CloudBlue, a provider of electronic equipment recycling services, which was acquired by Ingram Micro in 2013. Before CloudBlue, he co-founded and was CEO of OfficeTiger, a global business process outsourcing (BPO) company, which was acquired by RR Donnelley in 2006.

Sanjeev Singh Sahni, President (Incoming Chief Executive Officer effective July 1, 2026)

Sanjeev Singh Sahni currently serves as the President of Xometry, overseeing global Operations, Product, Technology, and People teams. Effective July 1, 2026, he will succeed Randy Altschuler as the Chief Executive Officer and will also join the Board of Directors. Sahni brings significant expertise in e-commerce, AI, and supply chain management to his roles.

James Miln, Chief Financial Officer

James Miln was appointed Chief Financial Officer of Xometry effective March 1, 2024. He previously served as Senior Vice President of Finance and Investor Relations at Yelp, where he played a key role in guiding the company through a period of strong, product-driven growth, including the introduction of new AI-powered search experiences. Miln has extensive financial planning, operational, and investor relations expertise, with prior experience at big-name tech and consumer brands like eBay.

Vaidy Raghavan, Chief Technology Officer

Vaidy Raghavan is the Chief Technology Officer at Xometry. He is an accomplished global technology executive and engineer by training, with extensive experience developing category-defining products for leading consumer and B2B brands such as Wayfair and Microsoft. Raghavan is an expert in AI, supply chain management, strategic pricing, customer experience, SaaS, data, and analytics.

Subir Dutt, Chief Sales Officer

Subir Dutt serves as the Chief Sales Officer for Xometry. He holds a bachelor's degree in mechanical engineering from Punjab Engineering College in India and a master's degree in industrial engineering and operations research from Virginia Tech.

AI Analysis | Feedback

Here are the key risks to Xometry's business:
  1. Intense Competition and Marketplace Dynamics: Xometry operates in a highly competitive digital manufacturing marketplace, facing numerous rivals such as Protolabs, Fictiv, and Shapeways. This intense competition, particularly on pricing, poses a significant risk as customers may switch to cheaper alternatives if they perceive better value elsewhere. Xometry's ability to continuously attract and retain both buyers and a diverse, high-quality network of suppliers is crucial for its success, with challenges including maintaining marketplace liquidity and managing pricing pressures.
  2. Dependence on Third-Party Manufacturing Partners and Quality Control: As a marketplace, Xometry relies heavily on a network of independent manufacturers to fulfill orders. This reliance means Xometry has limited direct control over the actual manufacturing process, which can lead to variability in product quality. Risks include potential operational issues faced by individual suppliers, challenges in ensuring consistent quality across the network, supplier churn, and the ability to secure and onboard new, qualified partners. Lack of direct oversight over manufacturing can complicate quality assurance and compliance.
  3. Sensitivity to Economic Conditions and Manufacturing Industry Downturns: Xometry's business is directly tied to the health and spending patterns of the industrial and manufacturing sectors. Economic slowdowns, reduced industrial production, or decreases in capital expenditures can lead to decreased demand for custom manufactured parts and assemblies. As a player in the industrial distribution sector, Xometry faces inherent risks related to economic cycles and broader macroeconomic uncertainties, which can impact its revenue growth and profitability.

AI Analysis | Feedback

A clear emerging threat to Xometry is the potential for major Computer-Aided Design (CAD) and Product Lifecycle Management (PLM) software vendors (e.g., Autodesk, Dassault Systèmes, Siemens) to integrate direct manufacturing sourcing capabilities directly into their core design and engineering platforms. These companies already command vast user bases of product designers and engineers, Xometry's primary customer demographic. If these vendors develop or acquire sophisticated manufacturing networks and seamlessly embed instant quoting and direct ordering of manufactured parts within their design environments, it could bypass Xometry's standalone marketplace. Designers could move from conceptualization to manufacturing order within a single, integrated software ecosystem, eroding Xometry's position as the intermediary platform.

AI Analysis | Feedback

Xometry, Inc. (XMTR) operates within several substantial addressable markets for its manufacturing services and products. The total global addressable market for custom manufacturing, which encompasses Xometry's diverse offerings, was valued at $858.8 billion in 2021 and is projected to reach $1,350.2 billion by 2031. Xometry itself has estimated its addressable market for manufacturing services at $275 billion, with the potential to approach the total global custom manufacturing market of over $800 billion as it expands its capabilities. Within the broader custom manufacturing landscape, several key segments contribute to Xometry's market opportunity: * On-Demand Manufacturing Services: The global on-demand manufacturing service market was valued at approximately USD 5.97 billion in 2024 and is projected to grow to USD 24.79 billion by 2034. This segment specifically includes 3D Printing Service, CNC Processing Service, and Injection Molding Service. * Manufacturing as a Service (MaaS): The global Manufacturing as a Service (MaaS) market, which includes 3D printing, CNC machining, and injection molding, was valued at USD 58.9 billion in 2024 and is projected to reach USD 124.6 billion by 2032. * CNC Machining: The global CNC machine market is projected to reach USD 79.2 billion in 2025 and is expected to grow to USD 194.3 billion by 2034. In the U.S. specifically, the CNC machine market size is projected to be valued at USD 10.2 billion in 2025, increasing to USD 23.8 billion by 2034. * 3D Printing: The global 3D printing market size was valued at USD 14.25 billion in 2023 and is predicted to reach USD 55.47 billion by the end of 2032. North America held a significant share of the 3D printing industry, accounting for 32.8% in 2025. The U.S. 3D printing market is predicted to reach an estimated value of USD 33.78 billion in 2032. * Injection Molding: The global injection molding market size was evaluated at $388 billion in 2023 and is slated to reach $562 billion by the end of 2032. The global plastic injection molding market, a significant part of this, was valued at USD 337.50 billion in 2025 and is projected to grow to USD 647.90 billion by 2034.

AI Analysis | Feedback

Xometry (NASDAQ: XMTR) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:

  1. Expansion of Active Buyer and Supplier Networks: A fundamental driver for Xometry's marketplace model is the continuous growth in its network of active buyers and suppliers. The company reported a 20% increase in active buyers to over 81,000 as of December 31, 2025, and marketplace revenue growth has been robust, indicating a strong expansion of its user base.
  2. Deepening Enterprise Account Engagement: Xometry is focusing on and experiencing significant growth from larger, higher-value customers. Accounts with a trailing twelve-month spend of at least $50,000 increased by 18% to 1,760 as of December 31, 2025, and accounts spending at least $500,000 grew by approximately 30% in fiscal year 2025 to over 140. This deeper penetration into enterprise accounts is a crucial revenue driver.
  3. Advancements in AI-Powered Marketplace and Product Innovation: The company consistently highlights its AI-powered marketplace and Instant Quoting Engine as core to its strategy. These technological enhancements are aimed at improving efficiency, expanding market share, and optimizing pricing and product selection, thereby fueling revenue growth.
  4. International Market Expansion: Xometry is actively pursuing growth in international markets, with robust increases in regions like Europe and Asia Pacific. International growth reached a $100 million run rate in Q4 2024, demonstrating that global expansion is a significant growth initiative.
  5. Broadening Marketplace Offerings and Services: While some non-core supplier services have been de-emphasized, Xometry continues to focus on expanding its overall marketplace menu and enhancing its service offerings. This strategy aims to provide a wider range of manufacturing solutions and value-added services through its platform.

AI Analysis | Feedback

Xometry (XMTR) has made the following capital allocation decisions over the last 3-5 years:

Share Issuance

  • Xometry went public on June 30, 2021, through an Initial Public Offering (IPO).

Outbound Investments

  • In December 2021, Xometry acquired Thomas Publishing Company for $300 million.
  • Xometry also acquired FactoryFour in November 2021 for an undisclosed amount.

Capital Expenditures

  • In Q4 2025, Xometry's capital expenditures were $10.3 million, which were almost entirely related to software investments.
  • For the full year 2025, capital expenditures primarily consisted of capitalized software costs, aligning with the company's asset-light business model.
  • Capital expenditures were expected to be around $7 million per quarter for the remainder of 2025.

Better Bets vs. Xometry (XMTR)

Peer Outperformance in Trading Companies & Distributors

XMTR has trailed 71% of its 17 Trading Companies & Distributors peers over 5Y. Trading Companies & Distributors ranks 10th of 23 industries in Industrials by median 5Y return.
Share of Trading Companies & Distributors constituents that XMTR has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
100%
of 17 industry peers · 69.7% return
3Y
94%
of 17 industry peers · 376.6% return
5Y
29%
of 17 industry peers · 17.6% return
No Trading Companies & Distributors peer with a comparable growth profile has beaten XMTR by more than 20pp over 5Y.
Median price return by industry across the Industrials sector, ranked by 5Y. Trading Companies & Distributors is XMTR's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Construction & Engineering 31 25.2%124.7%202.2% CDNL 3246% · STRL 2190% · FIX 2132%
Marine Transportation 4 57.9%61.9%150.7% MATX 212% · KEX 154% · SFL 148%
Construction Machinery & Heavy Transportation Equipment 13 12.3%66.8%120.6% CAT 324% · ALSN 285% · WAB 252%
Aerospace & Defense 55 11.1%70.2%79.6% DFNS 2047% · ATI 1042% · FTAI 968%
Passenger Ground Transportation 3 -5.7%65.1%69.3% UBER 96% · CAR 69% · LYFT -63%
Industrial Machinery & Supplies & Components 71 11.5%56.0%56.3% CRS 1440% · PSIX 846% · GHM 735%
Rail Transportation 7 38.3%76.2%50.1% FSTR 115% · CSX 65% · UNP 56%
Cargo Ground Transportation 16 35.7%16.1%45.4% XPO 270% · R 264% · CVLG 222%
Diversified Support Services 34 8.9%37.5%34.9% LIME 4674% · TH 369% · WLFC 347%
Trading Companies & Distributors ← 18 2.2%36.4%32.1% DXPE 523% · AIT 303% · URI 232%
Building Products 33 -8.8%15.9%28.8% LMB 436% · GFF 413% · PPIH 289%
Electrical Components & Equipment 41 26.1%44.8%28.3% POWL 2374% · VRT 856% · BE 849%
Industrial Conglomerates 17 15.8%26.3%4.9% RCMT 727% · CSW 153% · TTI 145%
Office Services & Supplies 10 14.0%25.0%3.8% TILE 188% · PBI 159% · EBF 56%
Environmental & Facilities Services 28 -8.3%20.9%0.8% CECO 863% · ADUR 661% · GEO 324%
Research & Consulting Services 13 -7.2%-18.4%-1.6% HURN 220% · CRAI 97% · GRNQ 31%
Agricultural & Farm Machinery 17 -1.2%-3.9%-14.4% BLBD 200% · DE 88% · GENC 65%
Data Processing & Outsourced Services 6 -30.4%-9.5%-24.5% EXLS 59% · BR 16% · G -23%
Passenger Airlines 11 5.9%-4.6%-29.3% LTM 2324% · UAL 140% · SKYW 130%
Human Resource & Employment Services 20 4.5%-19.4%-36.1% BBSI 89% · ADP 51% · KFY 36%
Air Freight & Logistics 12 -16.2%-24.2%-39.1% CHRW 78% · FDX 67% · EXPD 62%
Security & Alarm Services 10 -36.2%-14.3%-43.4% CIX 107% · MG 93% · BCO 52%
Airport Services 3 -69.1%-69.0%-58.3% JOBY -31% · ASLE -58% · UP -100%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

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Peer Comparisons

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Financials

XMTRPRLBSSYSDDDMedian
NameXometry Proto La.Stratasys3D Syste. 
Mkt Price83.5979.617.903.1943.76
Mkt Cap4.51.90.70.51.3
Rev LTM808561547388554
Op Inc LTM-3141-83-65-48
FCF LTM-1457-25-52-20
FCF 3Y Avg-2757-23-76-25
CFO LTM2879-5-4212
CFO 3Y Avg076-5-60-2

Growth & Margins

XMTRPRLBSSYSDDDMedian
NameXometry Proto La.Stratasys3D Syste. 
Rev Chg LTM33.7%10.2%-3.1%-6.2%3.6%
Rev Chg 3Y Avg24.7%5.0%-4.6%-9.0%0.2%
Rev Chg Q41.1%10.6%-0.3%-0.3%5.1%
QoQ Delta Rev Chg LTM9.0%2.6%-0.1%-0.1%1.3%
Op Inc Chg LTM37.1%84.3%-30.0%44.0%40.6%
Op Inc Chg 3Y Avg29.6%43.0%-13.1%16.9%23.3%
Op Mgn LTM-3.8%7.3%-15.3%-16.7%-9.5%
Op Mgn 3Y Avg-7.8%6.0%-13.7%-22.5%-10.8%
QoQ Delta Op Mgn LTM1.0%1.3%0.6%0.3%0.8%
CFO/Rev LTM3.4%14.0%-0.8%-10.9%1.3%
CFO/Rev 3Y Avg-0.6%14.4%-0.8%-14.3%-0.7%
FCF/Rev LTM-1.7%10.1%-4.6%-13.5%-3.2%
FCF/Rev 3Y Avg-4.8%10.9%-4.1%-17.9%-4.5%

Valuation

XMTRPRLBSSYSDDDMedian
NameXometry Proto La.Stratasys3D Syste. 
Mkt Cap4.51.90.70.51.3
P/S5.63.41.31.22.3
P/Op Inc-148.446.5-8.2-7.3-7.8
P/EBIT-184.646.5-8.2-12.8-10.5
P/E-147.162.6-6.0-8.7-7.3
P/CFO163.324.3-150.1-11.26.5
Total Yield-0.7%1.6%-16.7%-11.5%-6.1%
Dividend Yield0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-3.3%5.4%-3.3%-25.0%-3.3%
D/E0.10.00.00.30.1
Net D/E-0.0-0.1-0.30.0-0.1

Returns

XMTRPRLBSSYSDDDMedian
NameXometry Proto La.Stratasys3D Syste. 
1M Rtn-3.2%1.8%-1.6%24.1%0.1%
3M Rtn-6.3%11.6%-12.4%1.3%-2.5%
6M Rtn47.5%21.8%-24.4%52.6%34.6%
12M Rtn69.7%57.1%-28.7%51.9%54.5%
3Y Rtn376.6%174.6%-44.2%-47.2%65.2%
1M Excs Rtn-7.0%-2.3%-4.8%19.6%-3.6%
3M Excs Rtn-6.9%11.1%-10.5%3.6%-1.6%
6M Excs Rtn36.4%10.7%-35.5%41.6%23.6%
12M Excs Rtn67.7%46.9%-43.4%41.9%44.4%
3Y Excs Rtn318.9%105.2%-119.9%-125.7%-7.4%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Marketplace630486395303 
Services57606978 
Single segment    218
Total687546463381218


Price Behavior

Price Behavior
Market Price$83.59 
Market Cap ($ Bil)4.3 
First Trading Date06/30/2021 
Distance from 52W High-20.3% 
   50 Days200 Days
DMA Price$90.32$67.08
DMA Trendupup
Distance from DMA-7.5%24.6%
 3M1YR
Volatility56.2%83.1%
Downside Capture258.26204.91
Upside Capture198.20225.05
Correlation (SPY)44.7%33.4%
XMTR Betas & Captures as of 7/31/2026

 1M2M3M6M1Y3Y
Beta3.311.491.492.261.911.99
Up Beta4.192.642.732.862.542.33
Down Beta1.48-0.242.132.282.151.78
Up Capture294%158%254%326%401%1506%
Bmk +ve Days11223567138427
Stock +ve Days11233873144403
Down Capture414%190%-8%161%116%110%
Bmk -ve Days11212859114326
Stock -ve Days11202553107347

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with XMTR
XMTR88.2%82.9%1.11-
Sector ETF (XLI)20.5%17.1%0.9221.5%
Equity (SPY)21.1%12.9%1.2233.0%
Gold (GLD)37.5%28.8%1.1016.9%
Commodities (DBC)43.2%20.2%1.66-7.4%
Real Estate (VNQ)12.9%13.8%0.6410.5%
Bitcoin (BTCUSD)-31.6%44.1%-0.7316.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with XMTR
XMTR3.0%80.9%0.39-
Sector ETF (XLI)13.1%17.6%0.5732.5%
Equity (SPY)12.9%17.2%0.5736.4%
Gold (GLD)20.6%18.6%0.906.2%
Commodities (DBC)10.4%19.6%0.413.4%
Real Estate (VNQ)2.3%18.9%0.0225.1%
Bitcoin (BTCUSD)10.4%52.8%0.3820.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with XMTR
XMTR-0.7%81.6%0.34-
Sector ETF (XLI)13.8%20.0%0.6031.4%
Equity (SPY)15.2%17.9%0.7235.3%
Gold (GLD)12.7%16.2%0.645.5%
Commodities (DBC)8.0%18.0%0.363.8%
Real Estate (VNQ)5.0%20.7%0.2024.2%
Bitcoin (BTCUSD)63.1%66.1%1.0320.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date7312026
Short Interest: Shares Quantity2.8 Mil
Short Interest: % Change Since 7152026-10.5%
Average Daily Volume0.9 Mil
Days-to-Cover Short Interest3.1 days
Basic Shares Quantity54.2 Mil
Short % of Basic Shares5.2%

Earnings Returns History

Updated 8/13/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/4/20265.3%4.0% 
5/7/202639.2%52.8%43.0%
2/24/2026-22.2%-26.5%-27.5%
11/4/202528.9%36.7%20.2%
8/5/202543.0%39.0%50.8%
5/6/202511.3%17.5%23.3%
2/25/2025-9.2%-19.4%-14.4%
11/5/202417.1%45.9%46.0%
...
SUMMARY STATS   
# Positive131412
# Negative878
Median Positive17.1%20.1%36.2%
Median Negative-13.5%-19.4%-19.4%
Max Positive43.0%52.8%54.7%
Max Negative-39.5%-41.1%-53.0%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/4/20265.3%4.0% 
5/7/202639.2%52.8%43.0%
2/24/2026-22.2%-26.5%-27.5%
11/4/202528.9%36.7%20.2%
8/5/202543.0%39.0%50.8%
5/6/202511.3%17.5%23.3%
2/25/2025-9.2%-19.4%-14.4%
11/5/202417.1%45.9%46.0%
8/8/202440.5%50.8%54.7%
5/9/20241.8%6.7%-3.7%
2/29/2024-35.0%-41.1%-43.9%
11/9/2023-3.3%13.7%46.9%
8/9/20235.4%3.1%24.1%
5/10/202339.9%20.3%54.2%
3/1/2023-39.5%-39.2%-53.0%
11/10/2022-14.5%-11.5%-20.8%
8/10/202218.5%20.0%29.4%
5/11/2022-5.6%9.1%14.7%
3/17/20220.5%-5.8%-2.2%
11/10/20216.5%29.4%7.5%
8/12/2021-12.6%-14.6%-18.0%
SUMMARY STATS   
# Positive131412
# Negative878
Median Positive17.1%20.1%36.2%
Median Negative-13.5%-19.4%-19.4%
Max Positive43.0%52.8%54.7%
Max Negative-39.5%-41.1%-53.0%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/04/202610-Q
03/31/202605/07/202610-Q
12/31/202502/24/202610-K
09/30/202511/04/202510-Q
06/30/202508/05/202510-Q
03/31/202505/06/202510-Q
12/31/202402/25/202510-K
09/30/202411/05/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202302/29/202410-K
09/30/202311/09/202310-Q
06/30/202308/09/202310-Q
03/31/202305/10/202310-Q
12/31/202203/16/202310-K
09/30/202211/14/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/04/202610-Q
03/31/202605/07/202610-Q
12/31/202502/24/202610-K
09/30/202511/04/202510-Q
06/30/202508/05/202510-Q
03/31/202505/06/202510-Q
12/31/202402/25/202510-K
09/30/202411/05/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202302/29/202410-K
09/30/202311/09/202310-Q
06/30/202308/09/202310-Q
03/31/202305/10/202310-Q
12/31/202203/16/202310-K
09/30/202211/14/202210-Q
06/30/202208/11/202210-Q
03/31/202205/12/202210-Q
12/31/202103/18/202210-K
09/30/202111/10/202110-Q
06/30/202108/13/202110-Q
03/31/202106/04/2021S-1

Recent Forward Guidance

Updated 8/5/2026

Latest: Q2 2026 Earnings Reported 8/4/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q3 2026 Revenue234.00 Mil235.00 Mil236.00 Mil   
Q3 2026 Adjusted EBITDA16.00 Mil16.50 Mil17.00 Mil   
2026 Revenue Growth33.0%33.5%34.0% 6.0%RaisedGuidance: 27.5% for 2026
2026 Adjusted EBITDA60.00 Mil61.00 Mil62.00 Mil   

Prior: Q1 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Revenue214.00 Mil215.00 Mil216.00 Mil14.4% Higher NewActual: 188.00 Mil for Q1 2026
Q2 2026 Adjusted EBITDA11.00 Mil11.50 Mil12.00 Mil64.3% Higher NewActual: 7.00 Mil for Q1 2026
2026 Revenue Growth27.0%27.5%28.0% 6.5%RaisedGuidance: 21.0% for 2026
2026 Incremental Adjusted EBITDA Margin 20.0%  0.0%AffirmedGuidance: 20.0% for 2026

Q4 2025 Earnings Reported 2/24/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Revenue187.00 Mil188.00 Mil189.00 Mil2.7% Higher NewActual: 183.00 Mil for Q4 2025
Q1 2026 Adjusted EBITDA6.50 Mil7.00 Mil7.50 Mil7.7% Higher NewActual: 6.50 Mil for Q4 2025
Q1 2026 Revenue Growth24.0%24.5%25.0%   
2026 Revenue Growth 21.0%    
2026 Incremental Adjusted EBITDA Margin 20.0%    

Q3 2025 Earnings Reported 11/4/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q4 2025 Revenue182.00 Mil183.00 Mil184.00 Mil8.9% Higher NewGuidance: 168.00 Mil for Q3 2025
Q4 2025 Adjusted EBITDA6.00 Mil6.50 Mil7.00 Mil44.4% Higher NewGuidance: 4.50 Mil for Q3 2025
2025 Revenue676.00 Mil677.00 Mil678.00 Mil   
2025 Adjusted EBITDA16.00 Mil16.50 Mil17.00 Mil   

Insider Activity

Updated 8/21/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Rollins, EmilyDirectSell821202684.315,000421,5281,276,050Form
2Sahni, Sanjeev SinghChief Executive OfficerDirectSell818202690.191,500135,27916,450,160Form
3Rosati, Fabioby The Fabio Rosati 2022 Family TrustSell811202689.721,900170,4658,224,198Form
4Rosati, Fabioby The Fabio Rosati 2022 Family TrustSell811202691.458,100740,7058,556,237Form
5Miln, JamesChief Financial OfficerDirectSell807202687.921,500131,87815,617,125Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Rollins, EmilyDirectSell821202684.315,000421,5281,276,050Form
2Sahni, Sanjeev SinghChief Executive OfficerDirectSell818202690.191,500135,27916,450,160Form
3Rosati, Fabioby The Fabio Rosati 2022 Family TrustSell811202689.721,900170,4658,224,198Form
4Rosati, Fabioby The Fabio Rosati 2022 Family TrustSell811202691.458,100740,7058,556,237Form
5Miln, JamesChief Financial OfficerDirectSell807202687.921,500131,87815,617,125Form
6Raghavan, VaidyanathanChief Technology OfficerDirectSell706202693.211,866173,93813,122,413Form
7Dutt, SubirChief Sales OfficerDirectSell706202693.391,073100,2048,751,795Form
8Altschuler, RandolphDirectSell706202693.305,722533,86940,002,888Form
9Miln, JamesChief Financial OfficerDirectSell706202693.292,392223,14616,710,849Form
10Miln, JamesChief Financial OfficerDirectSell706202697.061,500145,58817,618,384Form
11Biewald, Lukas AlexanderDirectBuy604202685.0047,0583,999,9304,686,390Form
12Miln, JamesChief Financial OfficerDirectSell603202696.901,500145,34517,734,307Form
13Dutt, SubirChief Sales OfficerDirectSell528202695.002,500237,5009,004,955Form
14Altschuler, RandolphChief Executive OfficerHeld by spouseSell522202687.8730,0002,635,97349,316,426Form
15Altschuler, RandolphChief Executive OfficerHeld by the Altschuler Family Trust (2020)Sell522202687.8420,0001,756,76139,988,101Form
16Dutt, SubirChief Sales OfficerDirectSell520202689.204,943440,8968,677,803Form
17Dutt, SubirChief Sales OfficerDirectSell513202685.002,500212,5008,689,720Form
18Dutt, SubirChief Sales OfficerDirectSell513202679.865,000399,2948,363,766Form
19Miln, JamesChief Financial OfficerDirectSell513202679.691,500119,53014,703,993Form
20Altschuler, RandolphChief Executive OfficerDirectSell403202641.725,721238,65518,124,264Form
21Sahni, Sanjeev SinghPresidentDirectSell403202641.771,11146,4025,989,074Form
22Dutt, SubirChief Sales OfficerDirectSell403202641.7669929,1884,582,059Form
23Raghavan, VaidyanathanChief Technology OfficerDirectSell403202641.771,86577,8935,957,548Form
24Miln, JamesChief Financial OfficerDirectSell403202641.722,39299,7907,760,523Form
25Miln, JamesChief Financial OfficerDirectSell403202642.031,50063,0497,919,591Form
26Rollins, EmilyDirectSell403202642.021,00042,017635,975Form
27Weymouth, Katharineby the Katharine Weymouth Revocable TrustBuy302202641.151,21549,997148,757Form
28Raghavan, VaidyanathanChief Technology OfficerDirectSell226202643.444,572198,6262,793,622Form
29Altschuler, RandolphChief Executive OfficerDirectSell226202643.4431,9281,387,10116,177,796Form
30Miln, JamesChief Financial OfficerDirectSell226202643.4615,103656,3067,523,122Form
31Sahni, Sanjeev SinghPresidentDirectSell226202643.459,978433,4954,910,249Form
32Dutt, SubirChief Sales OfficerDirectSell226202643.472,410104,7633,852,895Form
33Dutt, SubirChief Sales OfficerDirectSell211202670.002,500175,0004,544,330Form
34Miln, JamesChief Financial OfficerDirectSell204202658.9859935,3287,891,165Form
35Altschuler, RandolphChief Executive OfficerDirectSell106202666.5314,826986,42019,656,880Form
36Sahni, Sanjeev SinghPresidentDirectSell106202666.574,446295,9625,945,869Form
37Miln, JamesChief Financial OfficerDirectSell106202666.516,203412,5678,938,858Form
38Raghavan, VaidyanathanChief Technology OfficerDirectSell106202666.513,570237,4552,553,934Form
39Dutt, SubirChief Sales OfficerDirectSell106202665.553,929257,5644,419,624Form
40Miln, JamesChief Financial OfficerDirectSell106202661.8059836,9558,688,817Form
41Rollins, EmilyDirectSell106202661.861,00061,862708,631Form
42Miln, JamesChief Financial OfficerDirectSell1203202556.0259833,5017,910,213Form
43Dutt, SubirChief Sales OfficerDirectSell1121202560.002,075124,5004,280,880Form
44Dutt, SubirChief Sales OfficerDirectSell1119202560.3442525,6444,430,190Form
45Rollins, EmilyDirectSell1112202568.031,00068,025779,232Form
46Miln, JamesChief Financial OfficerDirectSell1110202562.1159937,2068,807,342Form
47Altschuler, RandolphChief Executive OfficerDirectSell1003202550.319,331469,39915,608,293Form
48Raghavan, VaidyanathanChief Technology OfficerDirectSell1003202550.301,29865,2832,110,731Form
49Miln, JamesChief Financial OfficerDirectSell1003202550.201,12256,3287,148,655Form
50Miln, JamesChief Financial OfficerDirectSell1003202552.2259831,2287,494,447Form
51Miln, JamesChief Financial OfficerDirectSell903202550.2559830,0487,241,435Form

Investor Activity (13F)

Updated Aug 24, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Sylebra Capital LLC$21.9 Mil2.8%11ADD +31.3%13F
Schwerin Boyle Capital Management Inc$6.2 Mil0.8%47TRIM -10.5%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Sylebra Capital LLC$21.9 Mil2.8%11ADD +31.3%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Schwerin Boyle Capital Management Inc$6.2 Mil0.8%47TRIM -10.5%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Sylebra Capital LLC$21.9 Mil2.8%11ADD +31.3%13F
Schwerin Boyle Capital Management Inc$6.2 Mil0.8%47TRIM -10.5%13F
Core Cache Last Updated: 8/23/2026