Company Overview
Xometry, Inc. operates an artificial intelligence (AI) powered online manufacturing marketplace that functions in both the United States and international markets, utilizing AI technology to assist buyers in sourcing custom-manufactured parts and assemblies while attaining instant pricing and lead times. The company is categorized within the Industrials sector and specifically operates in the Industrial Distribution industry, positioning it as a digital intermediary that connects manufacturing capacity with consumer demand. In terms of scale, the entity holds a market capitalization of $2.10B, generates annual revenue of $686.63M, and employs 1,174 individuals across its operations. These valuation and revenue figures indicate that the company has established a significant presence in the industrial distribution landscape, commanding a market cap that reflects substantial investor interest despite its current profitability challenges. The combination of a large revenue base relative to its employee count suggests high operational efficiency in leveraging technology, while the market cap size implies a strategic importance within the broader industrial ecosystem.
Financial Health
The company reported revenue of $686.63M over the trailing twelve months, yet it recorded a net income of $-61,743,000 and an EBITDA of $-25,455,000, revealing a significant gap where operating costs and expenses exceed gross profits. This disparity between positive revenue and negative net income highlights a cost structure where overhead, research and development, or sales and marketing expenditures are substantial enough to erade all operating earnings. The free cash flow stands at $-12,945,000, which indicates that the company is currently burning cash rather than generating liquidity, suggesting limited financial flexibility until operating margins improve or capital expenditure slows. Gross margin is reported at 39.1%, indicating that the company retains a robust portion of revenue after direct costs, yet the operating margin of -4.7% shows that fixed costs are consuming a meaningful percentage of that gross profit. The profit margin is -9.0%, further confirming that the company is unprofitable on a bottom-line basis for every dollar of revenue generated. On the balance sheet, the company holds $219.14M in cash against $339.42M in debt, resulting in a debt-to-equity ratio of 122.65, which signifies a highly leveraged position where liabilities significantly exceed equity. The current ratio of 3.76 demonstrates strong short-term liquidity, as current assets are nearly four times greater than current liabilities, providing a buffer to meet immediate obligations despite the high absolute debt load. Return on Equity is -20.8% and Return on Assets is -4.0%, metrics that reveal management is currently unable to generate positive returns on the capital invested by shareholders or the assets utilized in operations.
Valuation Assessment
The trailing twelve-month P/E ratio is listed as N/A due to the lack of earnings, while the forward P/E is 34.91, a metric that implies the market is pricing in significant future earnings growth to justify the current stock price. The price-to-book ratio is 7.56, indicating that the market values the company at a substantial premium over its book value, likely reflecting the intangible value of its AI platform and marketplace network. The price-to-sales ratio is 3.06, and the EV/EBITDA is -84.58, suggesting that traditional earnings-based valuation models are not applicable and that investors are relying heavily on revenue multiples and growth expectations to value the firm. The stock has traded between a 52-week low of $18.59 and a 52-week high of $73.87, meaning the current price sits in a range that has seen significant volatility, though the exact current price percentage relative to the high cannot be calculated without the real-time quote, the wide spread indicates potential for expansion or contraction based on future performance. The beta value is 0.90, which means the stock's price volatility is roughly in line with the broader market, moving slightly less aggressively than the overall index during periods of market stress or rally.
Growth & Income
Revenue growth year-over-year is 29.5%, while earnings growth is N/A, indicating that the company is expanding its top line rapidly but has not yet achieved positive earnings growth to match that revenue expansion. Because the earnings growth is not available as a positive figure due to negative net income, the revenue growth outpaces profitability, implying that the company is still in a heavy investment or loss-leading phase to build its marketplace ecosystem. The company does not pay dividends, evidenced by a dividend yield of N/A and a payout ratio of 0.0%, which means the company reinvests all available cash flow back into the business rather than distributing income to shareholders. This strategy of zero dividend payout is consistent with a growth-oriented profile where capital is retained to fuel the 29.5% revenue expansion and potentially reduce the high debt load. Overall, the growth and income profile is characterized by strong top-line expansion and zero current income distribution, reflecting a classic growth-stage industrial technology company that prioritizes market share and infrastructure development over immediate shareholder returns.