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Xometry, Inc. (XMTR)
:XMTR
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Xometry
(NASDAQ:XMTR)
56Neutral
Positive Factors
Financial performance
Xometry produced a strong quarter with total revenues above Street estimates and guidance for future growth remains positive.
Growth opportunities
Xometry is in the early stages of capitalizing on growth opportunities such as AI-powered instant quote engine and international market penetration.
Negative Factors
Market trends
Unique visitors to XMTR, excluding Workcenter, decreased -27% y/y, representing moderating trends relative to December's decline.
Xometry (XMTR) vs. S&P 500 (SPY)
Market Cap
$1.29B
Dividend YieldN/A
Average Volume (3M)697.98K
Price to Earnings (P/E)―
Beta (1Y)2.79
Revenue Growth17.72%
EPS Growth26.99%
CountryUS
Employees1,088
SectorIndustrials
Sector Strength73
IndustryIndustrial Goods
Share Statistics
EPS (TTM)-1.03
Shares Outstanding48,826,042
10 Day Avg. Volume797,110
30 Day Avg. Volume697,979
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)2.36
Price to Cash Flow (P/CF)35.50
P/FCF Ratio31.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$35.38Price Target Upside37.99% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
Xometry Business Overview & Revenue Model
Company DescriptionXometry, Inc. is a leading AI-driven marketplace for on-demand manufacturing, serving businesses across various industries such as aerospace, automotive, consumer electronics, and healthcare. The company provides a platform that connects customers with a vast network of manufacturing partners offering services like CNC machining, 3D printing, injection molding, and sheet metal fabrication. By leveraging advanced technology and data-driven insights, Xometry streamlines the supply chain and enables efficient production of custom parts and prototypes.
How the Company Makes MoneyXometry makes money primarily through its marketplace model, where it connects businesses seeking custom manufacturing services with its network of vetted manufacturing partners. The company charges a fee or commission on transactions facilitated through its platform, which varies based on the complexity and scope of the orders. Additionally, Xometry offers value-added services such as design assistance and supply chain management, which contribute to its revenue. The company's revenue is also bolstered by partnerships with major industrial and technology firms, enhancing its platform's capabilities and expanding its customer base.
Xometry Financial Statement Overview
Summary
Xometry shows positive revenue growth and some improvement in cash flow generation. However, profitability remains a challenge with consistent net losses and negative cash flows. The company's high leverage and negative return on equity present potential risks, but the stable equity ratio provides a buffer. Continued focus on efficiency and cost management is necessary to improve financial health.Income Statement
Xometry's income statement shows consistent revenue growth over the years, with a 17.72% increase in 2024. However, the company is facing challenges with profitability, as evidenced by negative net income and EBIT margins. The gross profit margin improved slightly, indicating some efficiency in production, but the net profit margin remains negative, signaling ongoing struggles with overall profitability.65
Positive
Balance Sheet
The balance sheet reflects a relatively high debt-to-equity ratio, which stands at 0.94 for 2024, highlighting significant leverage. However, the equity ratio of 46.23% indicates a stable proportion of equity financing. Return on equity remains negative due to continued net losses, which is a concern for long-term financial health.60
Neutral
Cash Flow
Xometry's cash flow statement reveals negative free cash flow, though there is an improvement in operating cash flow. The company has reduced its negative free cash flow by 30.77% year-over-year, but the operating cash flow to net income ratio remains negative, indicating cash flow challenges in covering net losses.55
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 545.53M | 463.41M | 381.05M | 218.34M | 141.41M |
| Gross Profit | ||||
| 215.62M | 178.26M | 147.57M | 57.14M | 33.29M |
| EBIT | ||||
| -56.15M | -73.58M | -73.23M | -58.69M | -27.62M |
| EBITDA | ||||
| -32.66M | -52.30M | -59.53M | -55.88M | -25.83M |
| Net Income Common Stockholders | ||||
| -50.40M | -67.47M | -76.01M | -59.41M | -31.39M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 239.84M | 268.78M | 319.43M | 116.73M | 59.87M |
| Total Assets | ||||
| 680.13M | 707.39M | 736.92M | 502.59M | 88.96M |
| Total Debt | ||||
| 295.14M | 299.52M | 302.32M | 22.47M | 17.90M |
| Net Debt | ||||
| 272.90M | 246.09M | -17.11M | -63.79M | -41.98M |
| Total Liabilities | ||||
| 364.53M | 376.97M | 362.09M | 77.10M | 39.50M |
| Stockholders Equity | ||||
| 314.45M | 329.30M | 373.74M | 424.45M | 49.46M |
| Cash Flow | Free Cash Flow | |||
| -33.48M | -48.36M | -76.22M | -74.83M | -26.24M |
| Operating Cash Flow | ||||
| -15.38M | -29.88M | -62.58M | -68.57M | -22.05M |
| Investing Cash Flow | ||||
| -20.18M | 16.81M | 15.14M | -212.75M | 6.67M |
| Financing Cash Flow | ||||
| 4.64M | 1.07M | 280.97M | 307.77M | 35.26M |
Xometry Technical Analysis
Negative
25.64
Price Trends
33.20
Negative
31.67
Negative
23.82
Negative
Market Momentum
-2.93
Positive
32.73
Neutral
32.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XMTR, the sentiment is Negative. The current price of 25.64 is below the 20-day moving average (MA) of 29.06, below the 50-day MA of 33.20, and above the 200-day MA of 23.82, indicating a bearish trend. The MACD of -2.93 indicates Positive momentum. The RSI at 32.73 is Neutral, neither overbought nor oversold. The STOCH value of 32.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for XMTR.
Xometry Risk Analysis
Xometry disclosed 63 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
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $4.90B | 22.90 | 19.77% | 0.60% | 8.06% | 36.93% | |
66 Neutral | $900.02M | 56.83 | 2.43% | ― | -0.59% | -0.85% | |
66 Neutral | $293.56M | 20.08 | 5.60% | ― | 6.71% | 243.36% | |
62 Neutral | $8.17B | 12.76 | 0.49% | 3.07% | 3.84% | -16.79% | |
56 Neutral | $1.29B | ― | -15.66% | ― | 17.72% | 26.99% | |
50 Neutral | $374.31M | ― | -113.84% | ― | -12.26% | -431.20% | |
46 Neutral | $698.08M | ― | -14.34% | ― | -8.79% | 5.32% |
* Industrials Sector Average
Performance Comparison
XMTR
Xometry
23.62
6.70
39.60%
DDD
3D Systems
2.54
-1.96
-43.56%
FSS
Federal Signal
75.45
-2.05
-2.65%
PRLB
Proto Labs
35.73
1.78
5.24%
SSYS
Stratasys
9.63
-2.11
-17.97%
MTLS
Materialise
4.94
-0.08
-1.59%
Xometry Earnings Call Summary
Earnings Call Date: Feb 25, 2025 | % Change Since: -18.11% | Next Earnings Date: May 7, 2025
Earnings Call Sentiment Positive
The earnings call reflected strong financial performance with record revenue and gross profit, driven by successful international expansion and AI-powered marketplace advancements. Despite a decline in supplier services revenue and a temporary impact on gross margin due to strategic investments, the company remains confident in continued growth and improving profitability.Highlights
Record Revenue and Gross Profit
Q4 revenue increased 16% year-over-year to a record $149 million. Marketplace revenue grew 20% year-over-year, driven by 23% growth in active buyers. Q4 gross profit increased 20% year-over-year to a record $59 million.
International Growth
Q4 international growth was robust, increasing 42% year-over-year, reaching a $100 million run rate. Xometry Europe introduced new materials and added dozens of finishes, enhancing customer solutions.
AI-Powered Marketplace Success
Marketplace gross margin expanded 320 basis points year-over-year to a record 34.5% in Q4. AI-driven model improved pricing and matching, contributing to gross profit growth.
Strong Enterprise Performance
Revenue from marketplace accounts with last 12 month spend of at least $500,000 increased by over 40% year-over-year in 2024. Enterprise strategy and investments are delivering strong returns.
Positive Adjusted EBITDA
Achieved positive adjusted EBITDA of $1 million in Q4, marking a $3.9 million improvement year-over-year.
Lowlights
Supplier Services Revenue Decline
Supplier services revenue declined 13% year-over-year in Q4, affected by the wind down of non-core services and a decrease in Thomas advertising and marketing services.
Temporary Gross Margin Dampening
Gross margin in Q1 2025 expected to be temporarily dampened due to accelerated global sourcing strategy and ramping up in new geographies.
Company Guidance
In the earnings call for Q4 2024, Xometry provided guidance for Q1 and the full year 2025, highlighting an expected acceleration in revenue growth. The company anticipates Q1 revenue between $147 million and $149 million, reflecting a 20% to 21% year-over-year increase, which is an uptick from the 16% growth seen in Q4 2024. Marketplace growth is projected at 24% to 26% year-over-year for Q1. The company aims for full-year 2025 marketplace growth of at least 20% per quarter, with overall revenue growth surpassing 2024 levels. Xometry expects to be adjusted EBITDA positive for 2025, targeting incremental adjusted EBITDA margins of approximately 20%. The first quarter guidance considers a potential $1 million negative impact from a stronger U.S. dollar on revenue. Despite temporary gross margin pressures in Q1 due to accelerated global sourcing investments, the company is confident in year-over-year gross margin improvements for 2025.Xometry Corporate Events
Executive/Board ChangesShareholder Meetings
Xometry Board Member Deborah Bial to Step Down
Neutral
Mar 13, 2025
On March 11, 2025, Deborah Bial, a member of Xometry, Inc.’s Board of Directors since October 2020, announced she will not stand for reelection at the company’s 2025 Annual Meeting of Stockholders. Her departure is not due to any disagreements with the company or its management, and she will cease her roles at the meeting, impacting the ESG Committee and other board committees.
Executive/Board Changes
Xometry Announces CTO Transition in February 2025
Neutral
Feb 5, 2025
On January 30, 2025, Xometry, Inc. announced that its Chief Technology Officer, Matt Leibel, would be stepping down from his role, effective February 5, 2025. Vaidyanathan Raghavan will take over the position on the same date. The transition is amicable, with Leibel assisting until February 28, 2025, and receiving benefits per his employment agreement.
Executive/Board ChangesBusiness Operations and Strategy
Xometry Appoints Sahni to Boost Global Operations
Positive
Jan 8, 2025
Xometry has appointed Sanjeev Singh Sahni as President to drive global growth and operational efficiencies. Sahni, with a robust background in e-commerce and supply chain management from his tenure at Wayfair, will oversee global operations and technology, leveraging his expertise in AI and automation to enhance Xometry’s marketplace offerings and supply chain solutions.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.