Recent News
On November 19, 2025 Xometry appeared on the 2025 Deloitte Technology Fast 500 list, marking its sixth consecutive year on that ranking and highlighting multi-year revenue growth through its AI‑driven marketplace.
Technical Analysis
ADX at 15.24 indicates no strong trend; low trend strength reduces the reliability of any breakout given the current elevated valuation.
DI+ at 25.82 shows a dip & reversal, a bullish directional signal signaling renewed buyer influence on short-term directional movement.
DI- at 18.74 shows a peak & reversal, which also reads bullish because DI- has rolled lower and selling pressure eased; the combination of DI+ and DI- patterns points to a short-term bullish directional bias despite weak ADX.
MACD at 0.97 with a dip & reversal denotes bullish momentum development; MACD sits slightly below its 1.00 signal line, so the momentum uptick lacks a confirmed MACD crossover at present.
MRO at 25.48 sits positive and signals the market price sits above the model target, implying an elevated potential for mean reversion toward the model estimate over coming sessions.
RSI at 55.83 with a dip & reversal shows modest bullish momentum without overstretched readings.
Price trades above the 200‑day average ($40.97), the 50‑day average ($56.06), and the 20‑day average ($59.34), which supports near‑term upside; the 12‑day EMA recently showed a dip & reversal, consistent with short‑term bullish resumption.
Ichimoku components (Senkou A $57.27, Senkou B $56.80) place the current price above the cloud, reinforcing a bullish bias for trend continuation while the close at $61.51 sits at and slightly above the 1x Bollinger upper band ($61.31), indicating limited short‑term stretch that could invite a pullback or consolidation.
Volume at ~1.25M exceeds the 10‑day average (~887k) and the 50/200‑day averages, suggesting conviction behind the recent directional moves and supporting continued near‑term follow‑through if volume sustains.
Fundamental Analysis
Revenue reached $180.7M with YoY revenue growth at 62.81% and QoQ revenue growth at 45.76%, signaling strong top‑line expansion that underpins recent operating improvements.
Gross profit reached $72.0M and gross margin measured 39.86%, up slightly year‑over‑year. Gross margin sits below the industry peer mean of 61.28% and below the industry peer median of 59.94%, indicating margin performance lag versus peers despite recent improvement.
Operating results remain mixed: EBIT at -$10.34M and EBITDA at -$5.34M produce an EBIT margin of -5.72%, with EBIT margin down -63.20% QoQ and down -9.77% YoY. The company reported EPS actual of $0.11 versus an estimate of $0.10, a 10% EPS surprise.
Cash and liquidity present strength: cash and short‑term investments total $224.52M and the cash ratio stands at 2.38, while the current ratio sits at 3.62, supporting operational flexibility during continued investment and expansion.
Leverage and coverage show residual strain: total debt $333.46M and net debt $306.10M produce a debt‑to‑equity around 122.61% and debt‑to‑assets about 47.71%. Interest coverage remains negative at -8.09x, reflecting operating losses on a GAAP basis and limited earnings cushion for interest obligations.
Cash flow dynamics show operating cash flow of $5.79M and free cash flow of -$1.66M; the cash conversion ratio reads 0.73 and cash conversion cycle ~9.72 days, indicating efficient working‑capital turns despite negative free cash flow in the period.
Valuation multiples look elevated on an absolute basis: P/B about 8.95x, P/S roughly 13.47x, trailing P/E ~433x and forward P/E ~645x. The current valuation as determined by WMDST classifies the stock as over‑valued given these stretched multiples relative to fundamentals and current profitability metrics.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-11-04 |
| NEXT REPORT DATE: | 2026-02-03 |
| CASH FLOW | Begin Period Cash Flow | $ 16.8 M |
| Operating Cash Flow | $ 5.8 M | |
| Capital Expenditures | $ -7.45 M | |
| Change In Working Capital | $ -1.03 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 4.1 M | |
| End Period Cash Flow | $ 20.8 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 180.7 M | |
| Forward Revenue | $ -38.17 M | |
| COSTS | ||
| Cost Of Revenue | $ 108.7 M | |
| Depreciation | $ 5.0 M | |
| Depreciation and Amortization | $ 5.0 M | |
| Research and Development | $ 12.5 M | |
| Total Operating Expenses | $ 191.7 M | |
| PROFITABILITY | ||
| Gross Profit | $ 72.0 M | |
| EBITDA | $ -5.34 M | |
| EBIT | $ -10.34 M | |
| Operating Income | $ -11.01 M | |
| Interest Income | $ 2.1 M | |
| Interest Expense | $ 1.3 M | |
| Net Interest Income | $ 861.0 K | |
| Income Before Tax | $ -11.61 M | |
| Tax Provision | $ -17.00 K | |
| Tax Rate | 0.146 % | |
| Net Income | $ -11.60 M | |
| Net Income From Continuing Operations | $ -11.60 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.10 | |
| EPS Actual | $ 0.11 | |
| EPS Difference | $ 0.01 | |
| EPS Surprise | 10.0 % | |
| Forward EPS | $ 0.19 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 698.9 M | |
| Intangible Assets | $ 293.2 M | |
| Net Tangible Assets | $ -21.26 M | |
| Total Current Assets | $ 341.1 M | |
| Cash and Short-Term Investments | $ 224.5 M | |
| Cash | $ 20.8 M | |
| Net Receivables | $ 98.9 M | |
| Inventory | $ 4.2 M | |
| Long-Term Investments | $ 459.0 K | |
| LIABILITIES | ||
| Accounts Payable | $ 46.2 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 94.1 M | |
| Net Debt | $ 306.1 M | |
| Total Debt | $ 333.5 M | |
| Total Liabilities | $ 425.8 M | |
| EQUITY | ||
| Total Equity | $ 272.0 M | |
| Retained Earnings | $ -423.38 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 5.33 | |
| Shares Outstanding | 51.033 M | |
| Revenue Per-Share | $ 3.54 | |
| VALUATION | Market Capitalization | $ 2.4 B |
| Enterprise Value | $ 2.5 B | |
| Enterprise Multiple | -476.451 | |
| Enterprise Multiple QoQ | 373.45 % | |
| Enterprise Multiple YoY | 293.955 % | |
| Enterprise Multiple IPRWA | high: 233.502 median: 89.291 mean: 76.16 low: -157.273 XMTR: -476.451 |
|
| EV/R | 14.068 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.57 | |
| Asset To Liability | 1.641 | |
| Debt To Capital | 0.551 | |
| Debt To Assets | 0.477 | |
| Debt To Assets QoQ | -2.123 % | |
| Debt To Assets YoY | 2336.823 % | |
| Debt To Assets IPRWA | high: 0.973 XMTR: 0.477 mean: 0.255 median: 0.154 low: 0.01 |
|
| Debt To Equity | 1.226 | |
| Debt To Equity QoQ | -1.01 % | |
| Debt To Equity YoY | 2811.66 % | |
| Debt To Equity IPRWA | high: 2.365 XMTR: 1.226 mean: 0.561 median: 0.24 low: 0.011 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 8.948 | |
| Price To Book QoQ | 22.142 % | |
| Price To Book YoY | 207.095 % | |
| Price To Book IPRWA | XMTR: 8.948 high: 8.082 median: 6.089 mean: 5.162 low: -5.143 |
|
| Price To Earnings (P/E) | 433.485 | |
| Price To Earnings QoQ | 21.229 % | |
| Price To Earnings YoY | -53.327 % | |
| Price To Earnings IPRWA | XMTR: 433.485 high: 195.274 mean: 136.523 median: 120.234 low: -155.476 |
|
| PE/G Ratio | 19.507 | |
| Price To Sales (P/S) | 13.465 | |
| Price To Sales QoQ | 10.497 % | |
| Price To Sales YoY | 107.741 % | |
| Price To Sales IPRWA | high: 19.465 median: 14.113 XMTR: 13.465 mean: 11.956 low: 0.544 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 645.291 | |
| Forward PE/G | 29.038 | |
| Forward P/S | -174.856 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -5.286 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.261 | |
| Asset Turnover Ratio QoQ | 10.476 % | |
| Asset Turnover Ratio YoY | 24.858 % | |
| Asset Turnover Ratio IPRWA | high: 0.477 XMTR: 0.261 mean: 0.146 median: 0.105 low: 0.015 |
|
| Receivables Turnover | 1.946 | |
| Receivables Turnover Ratio QoQ | 3.182 % | |
| Receivables Turnover Ratio YoY | 2.705 % | |
| Receivables Turnover Ratio IPRWA | high: 4.54 XMTR: 1.946 median: 1.627 mean: 1.548 low: 0.816 |
|
| Inventory Turnover | 24.493 | |
| Inventory Turnover Ratio QoQ | 8.992 % | |
| Inventory Turnover Ratio YoY | -9.143 % | |
| Inventory Turnover Ratio IPRWA | XMTR: 24.493 high: 3.452 mean: 1.05 median: 0.805 low: 0.107 |
|
| Days Sales Outstanding (DSO) | 46.9 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 9.718 | |
| Cash Conversion Cycle Days QoQ | 19.679 % | |
| Cash Conversion Cycle Days YoY | -77.03 % | |
| Cash Conversion Cycle Days IPRWA | high: 140.744 median: 25.754 mean: 25.418 XMTR: 9.718 low: -59.548 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.732 | |
| CapEx To Revenue | -0.041 | |
| CapEx To Depreciation | -1.49 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 598.9 M | |
| Net Invested Capital | $ 598.9 M | |
| Invested Capital | $ 598.9 M | |
| Net Tangible Assets | $ -21.26 M | |
| Net Working Capital | $ 247.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 2.385 | |
| Current Ratio | 3.623 | |
| Current Ratio QoQ | -7.33 % | |
| Current Ratio YoY | -21.141 % | |
| Current Ratio IPRWA | high: 7.122 XMTR: 3.623 mean: 1.051 median: 0.738 low: 0.428 |
|
| Quick Ratio | 3.578 | |
| Quick Ratio QoQ | -7.172 % | |
| Quick Ratio YoY | -21.276 % | |
| Quick Ratio IPRWA | high: 16.179 mean: 4.011 XMTR: 3.578 low: 2.584 median: 2.584 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -62.492 | |
| Cost Of Debt | 0.382 % | |
| Interest Coverage Ratio | -8.088 | |
| Interest Coverage Ratio QoQ | -62.16 % | |
| Interest Coverage Ratio YoY | 6.881 % | |
| Interest Coverage Ratio IPRWA | high: 27.361 median: 12.24 mean: 8.976 XMTR: -8.088 low: -17.094 |
|
| Operating Cash Flow Ratio | -0.148 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 41.34 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.723 % | |
| Revenue Growth | 11.177 % | |
| Revenue Growth QoQ | 45.762 % | |
| Revenue Growth YoY | 62.811 % | |
| Revenue Growth IPRWA | high: 16.022 % XMTR: 11.177 % mean: 0.574 % median: -0.168 % low: -13.715 % |
|
| Earnings Growth | 22.222 % | |
| Earnings Growth QoQ | -93.651 % | |
| Earnings Growth YoY | -107.407 % | |
| Earnings Growth IPRWA | high: 95.714 % XMTR: 22.222 % mean: -0.541 % median: -2.299 % low: -96.296 % |
|
| MARGINS | ||
| Gross Margin | 39.858 % | |
| Gross Margin QoQ | -0.596 % | |
| Gross Margin YoY | 1.17 % | |
| Gross Margin IPRWA | high: 89.116 % mean: 61.275 % median: 59.941 % XMTR: 39.858 % low: 8.097 % |
|
| EBIT Margin | -5.72 % | |
| EBIT Margin QoQ | -63.196 % | |
| EBIT Margin YoY | -9.765 % | |
| EBIT Margin IPRWA | high: 34.343 % mean: 22.556 % median: 18.179 % XMTR: -5.72 % low: -95.399 % |
|
| Return On Sales (ROS) | -6.092 % | |
| Return On Sales QoQ | -3.76 % | |
| Return On Sales YoY | -3.897 % | |
| Return On Sales IPRWA | high: 33.558 % mean: 22.675 % median: 18.196 % XMTR: -6.092 % low: -43.421 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -1.66 M | |
| Free Cash Flow Yield | -0.068 % | |
| Free Cash Flow Yield QoQ | -81.769 % | |
| Free Cash Flow Yield YoY | -92.601 % | |
| Free Cash Flow Yield IPRWA | high: 11.737 % mean: 1.098 % median: 0.734 % XMTR: -0.068 % low: -6.965 % |
|
| Free Cash Growth | -77.578 % | |
| Free Cash Growth QoQ | 296.069 % | |
| Free Cash Growth YoY | 107.04 % | |
| Free Cash Growth IPRWA | high: 388.604 % mean: 18.318 % median: -7.033 % XMTR: -77.578 % low: -210.38 % |
|
| Free Cash To Net Income | 0.143 | |
| Cash Flow Margin | -7.723 % | |
| Cash Flow To Earnings | 1.204 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -1.674 % | |
| Return On Assets QoQ | -56.395 % | |
| Return On Assets YoY | 11.377 % | |
| Return On Assets IPRWA | high: 2.96 % median: 2.362 % mean: 1.696 % XMTR: -1.674 % low: -8.842 % |
|
| Return On Capital Employed (ROCE) | -1.709 % | |
| Return On Equity (ROE) | -0.043 | |
| Return On Equity QoQ | -56.383 % | |
| Return On Equity YoY | 31.808 % | |
| Return On Equity IPRWA | high: 0.129 median: 0.036 mean: 0.032 XMTR: -0.043 low: -0.097 |
|
| DuPont ROE | -4.276 % | |
| Return On Invested Capital (ROIC) | -1.723 % | |
| Return On Invested Capital QoQ | -59.286 % | |
| Return On Invested Capital YoY | -153.609 % | |
| Return On Invested Capital IPRWA | high: 5.914 % median: 3.446 % mean: 2.731 % XMTR: -1.723 % low: -6.684 % |
|