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XMTR

Xometry, Inc.

XMTR

Xometry, Inc. • NASDAQ
$58.47 ▲ 1.02% (+0.59)
Market Cap $2.91 B
52w High $69.26
52w Low $18.59
Dividend Yield 0%
P/E -46.78
Volume 219.27K
Outstanding Shares 49.77M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $180.715M ▲ $78.404M ▲ $-11.597M ▲ -6.417% ▲ $-0.228 ▲ $-5.425M ▲
Q2-2025 $162.547M ▲ $75.466M ▲ $-26.434M ▼ -16.262% ▼ $-0.52 ▼ $-19.743M ▼
Q1-2025 $150.971M ▲ $71.722M ▲ $-15.078M ▼ -9.987% ▼ $-0.3 ▼ $-9.642M ▼
Q4-2024 $148.546M ▲ $70.542M ▲ $-9.889M ▲ -6.657% ▲ $-0.2 ▲ $-5.359M ▲
Q3-2024 $141.698M $67.306M $-10.199M -7.198% $-0.21 $-5.769M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $224.519M ▼ $698.877M ▲ $425.787M ▲ $271.964M ▲
Q2-2025 $225.792M ▼ $687.041M ▼ $415.52M ▲ $270.402M ▼
Q1-2025 $231.381M ▼ $690.11M ▲ $379.077M ▲ $309.901M ▼
Q4-2024 $239.835M ▲ $680.129M ▲ $364.533M ▲ $314.453M ▼
Q3-2024 $234.035M $678.208M $361.848M $315.233M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-11.597M ▲ $5.792M ▲ $-2.148M ▼ $460K ▼ $4.094M ▲ $-1.657M ▲
Q2-2025 $-26.434M ▼ $-445K ▲ $-130K ▲ $1.536M ▲ $1.244M ▲ $-7.408M ▲
Q1-2025 $-15.076M ▼ $-3.691M ▼ $-3.686M ▲ $510K ▼ $-6.725M ▼ $-9.19M ▼
Q4-2024 $-9.896M ▲ $9.085M ▲ $-5.445M ▼ $1.424M ▲ $4.802M ▲ $4.548M ▲
Q3-2024 $-10.199M $-3.646M $-2.582M $1.42M $-4.641M $-8.456M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Marketplace Revenue
Marketplace Revenue
 $250.00M ▲$140.00M ▼$150.00M ▲$170.00M ▲
Supplier Service Revenue
Supplier Service Revenue
 $30.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily each year, and gross profit has also moved in the right direction, showing that the core marketplace model is gaining scale and pricing power. However, the company still runs at a clear loss: operating income, EBITDA, and net income have all remained negative since before the IPO. The good news is that losses are gradually narrowing rather than expanding, but the business remains in “build and invest” mode rather than “harvest and profit” mode. The main question is how quickly the company can convert strong top-line momentum into consistent bottom-line profitability without slowing growth too much.

Balance Sheet

Balance Sheet The balance sheet shows a business that has scaled up rapidly, with total assets much larger than before the IPO. Shareholders’ equity is positive and reasonably solid but has edged down from earlier highs, reflecting cumulative losses. Cash on hand has trended down over the last few years, while debt has risen sharply compared with pre-IPO levels, making the company more leveraged and more exposed to interest costs than before. Overall, the company has built a real asset base, but it no longer has the same cash cushion it once enjoyed, so balance sheet discipline will matter more going forward.

Cash Flow

Cash Flow Xometry is still consuming cash rather than generating it. Operating cash flow has been negative every year, although it has improved from the most challenging period. Free cash flow is also negative, with modest but persistent spending on technology and platform development. The cash burn is not extreme, but it is steady, which means the company remains dependent on either future profitability, tighter cost control, or external financing over time. The key swing factor will be whether improving margins and scale can tip operating cash flow into positive territory before the balance sheet becomes too tight.

Competitive Edge

Competitive Edge Xometry’s competitive position is built around being a digital “hub” for custom manufacturing work. Its main strengths are a large and growing network of manufacturing partners, strong brand recognition in on-demand parts, and proprietary AI tools that make quoting and supplier matching faster and more accurate than traditional methods. The acquisition of Thomasnet greatly expanded its reach and data, reinforcing network effects on both the buyer and supplier side. On the risk side, this is a competitive space with other digital manufacturing platforms and industrial marketplaces, and large industrial companies could try to build more of these capabilities in-house. The company’s edge depends on continuing to deepen its network, keep its technology ahead of peers, and maintain trust with both buyers and suppliers.

Innovation and R&D

Innovation and R&D Innovation is at the center of Xometry’s strategy. Its instant quoting engine, AI-based supplier matching, and design feedback tools directly address long-standing pain points in manufacturing procurement. The company is layering on collaboration features, pricing tools, and better integration with customers’ internal systems, which can make the platform “stickier” over time. Xometry is also expanding globally and exploring sustainability-focused offerings, which could become important differentiators as manufacturers seek greener supply chains. The main execution risks are spreading resources too thin across new features and markets, and ensuring that these innovations actually translate into higher usage, better margins, and loyal repeat customers.

Summary

Xometry is a high-growth, technology-driven industrial marketplace that has successfully scaled revenue and strengthened its brand and network, but it is still in the investment phase financially. The business shows clear operational progress in the form of higher gross profit and gradually shrinking losses, yet it remains unprofitable with ongoing cash burn and increased leverage. Strategically, its AI-powered platform, large supplier network, and Thomasnet acquisition together form a meaningful competitive moat, provided the company keeps innovating and deepening engagement on both sides of the marketplace. The central tension for the next few years will be balancing continued growth and product investment with the need to solidify the balance sheet and move toward sustainable profitability and positive cash flow.

NEWS

November 19, 2025 · 9:05 AM UTC

Xometry Recognized as One of North America's Fastest-Growing Companies on the 2025 Deloitte Technology Fast 500™ List

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November 4, 2025 · 7:05 AM UTC

Xometry Reports Record Third Quarter 2025 Results

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October 28, 2025 · 4:05 PM UTC

Xometry to Participate in Upcoming Investor Conferences

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October 23, 2025 · 9:05 AM UTC

Xometry Introduces Auto-Quote Capability for Injection Molding Services, Expanding Its Digital Manufacturing Platform

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October 21, 2025 · 4:05 PM UTC

Xometry to Announce Third Quarter 2025 Financial Results on November 4, 2025

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