Abstract
Xometry, Inc. will report second-quarter 2026 results Pre-Market on August 4, 2026; investors are watching for continued top-line acceleration toward an estimated 215.02 million US dollars and adjusted EPS near 0.15, alongside updates on marketplace monetization, Supplier Services uptake, and execution following the Siemens collaboration and June equity raise.Market Forecast
Consensus for the current quarter points to revenue of 215.02 million US dollars, up 37.34% year over year, with adjusted EPS around 0.15, up 232.88% year over year, and EBIT at 11.53 million US dollars, up 618.68% year over year. Forecasted margins were not disclosed; investors will track the trajectory following a prior-quarter gross margin of 38.26% and a net profit margin of -2.57%.The core marketplace remains the centerpiece, supported by enterprise adoption and product enhancements that shortened lead times and expanded auto-quoting; momentum from Q1’s 35.88% year-over-year revenue growth establishes a higher base into Q2. Supplier Services stands out as the most promising incremental growth lever, with last quarter revenue of 13.82 million US dollars; management initiatives and product additions suggest a strengthening demand trend into Q2 even though year-over-year disclosure by segment is not available.
Last Quarter Review
Xometry, Inc. delivered revenue of 205.14 million US dollars, a gross profit margin of 38.26%, GAAP net loss attributable to common shareholders of 5.27 million US dollars, a net profit margin of -2.57%, and adjusted EPS of 0.12, up 500.00% year over year; revenue grew 35.88% year over year and net loss improved quarter on quarter by 39%.A key business highlight was the strategic collaboration with Siemens that embeds Xometry’s AI-native pricing, manufacturability, and procurement intelligence into the Siemens Xcelerator ecosystem, signaling deeper enterprise integration pathways and potential upsell motion. Within operations, the marketplace contributed 191.32 million US dollars, or 93.26% of total revenue, while the company-wide revenue base expanded 35.88% year over year, underscoring the scale at which the platform is now operating.
Current Quarter Outlook
Marketplace performance and monetization
The marketplace is expected to remain the earnings engine this quarter, with the forecast revenue trajectory pointing to 215.02 million US dollars, up 37.34% year over year. Management has emphasized product enhancements that directly address speed and reliability for enterprise-grade orders, including an updated lead-time model trained on a materially larger dataset and broader auto-quoting coverage across materials and processes. These changes have the potential to support higher conversion and wallet share, both of which were cited as drivers of last quarter’s acceleration and should carry into Q2 seasonality. The marketplace’s contribution at 191.32 million US dollars in the prior quarter signals the scale and operational throughput now embedded in the platform, a baseline that may benefit from incremental enterprise programs catalyzed by the Siemens collaboration. In the absence of margin guidance, investors will parse signals on take-rate, fulfillment mix, and supplier incentives, as these variables shape gross margin sensitivity near last quarter’s 38.26%. A faster mix shift toward higher-value processes with stronger pricing power could add uplift to gross profit dollars even if percentage margins remain roughly stable. Conversely, if growth is pulled by larger, complex orders that carry different economics in the near term, the absolute gross profit expansion may still be meaningful while percentage margins fluctuate within a manageable range.Supplier Services and enterprise expansion
Supplier Services, at 13.82 million US dollars in Q1, is a smaller but strategically important revenue stream that monetizes tools, visibility, and services for the supplier ecosystem. Uptake in subscription offerings and the continued addition of supplier-facing features—such as one-click reordering, enhanced catalog breadth, and on-demand expert consultations—can broaden attach rates and produce higher recurring revenue density over time. While segment-level year-over-year growth for Q1 was not disclosed, qualitative signals suggest improving engagement as suppliers leverage the platform to increase utilization and access demand pools aligned with their certifications and capabilities. The Siemens partnership provides another avenue for enterprise-driven demand flow, creating downstream opportunities for suppliers and potentially increasing the monetizable surface area for services; integration with broader design-to-production workflows tends to favor cohesive supplier toolsets. On the demand side, targeted initiatives in verticals like data center infrastructure, as highlighted in recent company updates, may create more consistent, specifications-heavy order profiles that suppliers can standardize against, which in turn can lift service adoption. As Supplier Services scale alongside the marketplace, the combined flywheel—more demand aggregation, more supplier participation, richer data—supports both revenue durability and improving unit economics over a multi-quarter horizon.Stock price drivers this quarter
Near-term stock performance is likely to be dictated by three factors: the durability of top-line acceleration, the direction of unit economics, and signals around enterprise channel activation. First, the revenue run-rate implied by the 215.02 million US dollars forecast (+37.34% year over year) sets a high bar; upside or downside versus that level should have an outsized impact on sentiment given the sharp re-rating the shares experienced around strategic announcements and Q1 execution. Second, margin progression will be scrutinized given the last quarter’s 38.26% gross margin and the negative GAAP net margin; investors will look for evidence that mix effects and marketplace take-rate dynamics are stabilizing in a way that sustains expanding gross profit dollars while opex leverage continues. Third, post-announcement momentum from the Siemens collaboration will be assessed through pipeline anecdotes, early adoption markers, and any commentary on co-selling motions or enterprise pilot conversion; even modestly quantified color here could recalibrate growth durability expectations. The June equity raise (~225 million US dollars) enhances liquidity for working capital and growth investments; clarity on deployment priorities may mitigate dilution concerns and reinforce the balance-sheet-supported growth case. Finally, management’s qualitative guidance for the remainder of 2026—particularly whether Q2 dynamics validate a sustained mid-30s or higher year-over-year revenue growth band—will frame both near-term valuation multiples and the slope of modeled operating leverage into 2027.Analyst Opinions
The prevailing view among covering analysts is bullish. Multiple research notes in the period emphasize sustained growth momentum, expanding gross profit dollars, and strategically accretive partnerships. William Blair reiterated an Outperform/Buy stance, highlighting continued execution, conservative 2026 guardrails that leave room for upside, and the strategically positive implications of leadership updates for enterprise engagement. The commentary underscores the acceleration in marketplace activity and the expanding monetization surface as supportive of ongoing top-line growth accompanied by improving profitability metrics. Cantor Fitzgerald upgraded the shares to Overweight and raised conviction that product and go-to-market progress would translate into faster revenue compounding and better operating leverage, pointing to the company’s sharpened enterprise orientation and the platform’s measurable impact on lead times and procurement predictability.Across these opinions, the majority emphasize three near-term pillars that align with this quarter’s setup. First, the consistency of revenue acceleration into an estimated 215.02 million US dollars is expected to validate the demand environment for the core marketplace and the early contribution from enterprise-led initiatives. Second, analysts anticipate that gross profit dollars will continue to scale even if quarterly gross margin percentages fluctuate as the company optimizes fulfillment and mix; this view leans on last quarter’s 38.26% gross margin as a credible reference point for continued balance between growth and unit economics. Third, the Siemens collaboration is seen as a high-quality catalyst for deepening large-account relationships, with downstream benefits for supplier utilization and Supplier Services adoption. The June capital raise is generally interpreted as a constructive step that secures flexibility for working capital and investment in growth programs, with the expectation that higher revenue velocity and platform breadth can offset dilution through stronger growth and leverage.
In aggregate, the bullish camp outnumbers bearish views in the collected period, with notable institutions citing accelerating revenue (+37.34% year-over-year forecast), outsized year-over-year gains in adjusted EPS (+232.88%) and EBIT (+618.68%) as evidence of an inflection in the earnings power trajectory. Supportive previews and rating actions coalesce around the thesis that Xometry, Inc. is executing on marketplace scaling and supplier monetization while building enterprise-grade capabilities, establishing a path for sustained double-digit growth and ongoing improvements in profitability metrics. The coming report will help investors assess whether the second quarter marks another step-up in the cadence of growth and operating leverage that the bullish side expects to persist through the back half of 2026.
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