GET DAILY SIGNALSXometry (XMTR) Delivers First GAAP Profit on Record Q3 Revenue Growth
Key Takeaways
- Xometry posted record third-quarter revenue of $252.44 million, up 40% year over year and above the consensus estimate of roughly $235.5 million.
- Adjusted (non-GAAP) earnings per share came in at $0.28, beating analyst expectations of $0.19, while the company reported its first quarter of GAAP net income at $1.9 million.
- Marketplace revenue grew 43% to $238 million, and marketplace gross margin reached a record 36.0%, up 130 basis points quarter over quarter.
- Active buyers rose 20% year over year to more than 93,000, with a record net addition of 4,255 buyers during the quarter.
- Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) hit a record $21.4 million, with management raising its full-year 2026 outlook.
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Why This Quarter Matters
Xometry's third-quarter report carries outsized weight for investors because it marks a potential inflection point for the company's AI-native manufacturing marketplace. After years of prioritizing growth over profitability, Xometry delivered its first quarter of GAAP net income, signaling that its business model can scale profitably. The company has now posted two consecutive quarters of at least 40% revenue growth, suggesting durable momentum rather than a one-time surge. With marketplace gross margin expanding to a record level and operating costs rising far slower than revenue, the results offer evidence that Xometry's network effects and AI-driven pricing are translating into meaningful operating leverage. For investors, the quarter tests whether the company can sustain rapid growth while continuing to widen margins.
Reported Results
Xometry reported third-quarter revenue of $252.44 million, a 40% increase from $180.72 million in the prior-year period and above the consensus estimate of approximately $235.5 million. Marketplace revenue, the company's core segment, grew 43% year over year to $238 million, while services revenue rose about 2% to $14.4 million. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
On a GAAP basis, the company reported net income of $1.9 million, compared with a net loss of $11.6 million a year earlier. Basic earnings per share from continuing operations were $0.03, versus a loss of $0.23 per share in the same quarter last year. On an adjusted, non-GAAP basis that excludes stock-based compensation and other items, earnings per share came in at $0.28, beating the analyst estimate of $0.19.
Gross profit increased 37% to $98.7 million, while marketplace gross margin reached a record 36.0%. Adjusted EBITDA rose to a record $21.4 million, expanding the adjusted EBITDA margin to 8.5% from 3.4% a year earlier.
Looking ahead, Xometry guided to fourth-quarter revenue of $254 million to $256 million, representing 32% to 33% growth, and raised its full-year 2026 revenue growth outlook to approximately 37%.
Market Reaction and Investor Sentiment
The market responded favorably to Xometry's results, with shares rallying sharply following the announcement, reflecting investor enthusiasm for the company's first GAAP profit and better-than-expected guidance. Sentiment heading into the report had been cautiously optimistic, given the company's history of consistently beating consensus estimates across recent quarters. The combination of record revenue, expanding marketplace gross margin, and raised full-year outlook reinforced confidence that Xometry's profitability trajectory is accelerating. Investors also appeared to reward the improving unit economics, including a record-low advertising spend of 3.0% of marketplace revenue. The positive reaction suggests the market views the quarter as validation of the company's AI-driven marketplace model rather than a one-off result.
Forward Outlook and Key Factors to Monitor
Following this earnings event, investors will be watching several factors closely. The first is whether Xometry can maintain its roughly 40% marketplace growth rate while continuing to expand gross margin toward the company's long-term target range of 35% to 40%. Management has already signaled confidence by raising its full-year revenue growth outlook to approximately 37%.
Another key area is enterprise adoption. The number of accounts spending at least $50,000 annually grew 26% year over year to 2,172, and revenue from the largest accounts rose more than 40%. Continued wallet-share gains among these larger customers will be essential to sustaining momentum.
Cost discipline also remains a focal point. Non-GAAP operating expenses grew 17%, less than half the revenue growth rate, and the company expects adjusted EBITDA of $68 million to $68.5 million for 2026. Investors will monitor whether this operating leverage persists as the company invests in AI model development and platform improvements.
Finally, the services segment, which grew only about 2%, remains a modest but closely watched component, while the company's international operations will be scrutinized for signs of approaching profitability. Together, these factors will shape how investors assess Xometry's path toward sustained profitability and continued market-share expansion.
Integrating AI Tools Into My Research
In my regular workflow, I turn to Tickeron’s AI Screener to quickly filter opportunities based on technical patterns, fundamentals, and AI signals. It helps surface relevant setups without manual effort, letting me focus on how companies like Xometry fit into broader trends and compare against peers. This approach keeps my analysis efficient while highlighting the setups that align with my strategy.
Disclaimer
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
Aroon Indicator for XMTR shows an upward move is likely
XMTR's Aroon Indicator triggered a bullish signal on October 15, 2026. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 240 similar instances where the Aroon Indicator showed a similar pattern. In 223 of the 240 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 28, 2026. You may want to consider a long position or call options on XMTR as a result. In 72 of 82 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 88%.
The Moving Average Convergence Divergence (MACD) for XMTR just turned positive on November 03, 2026. Looking at past instances where XMTR's MACD turned positive, the stock continued to rise in 37 of 45 cases over the following month. The odds of a continued upward trend are 82%.
XMTR moved above its 50-day moving average on November 03, 2026 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for XMTR crossed bullishly above the 50-day moving average on November 04, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 13 of 16 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 81%.
Following a +18.88% 3-day Advance, the price is estimated to grow further. Considering data from situations where XMTR advanced for three days, in 288 of 335 cases, the price rose further within the following month. The odds of a continued upward trend are 86%.
Bearish Trend Analysis
The 10-day RSI Indicator for XMTR moved out of overbought territory on October 07, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 38 similar instances where the indicator moved out of overbought territory. In 31 of the 38 cases, the stock moved lower in the following days. This puts the odds of a move lower at 82%.
The Stochastic Oscillator entered the overbought zone. Expect a price pull-back in the foreseeable future.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where XMTR declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 82%.
XMTR broke above its upper Bollinger Band on November 03, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of 5 (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: XMTR's P/B Ratio (10.502) is slightly higher than the industry average of (4.203). XMTR has a moderately low P/E Ratio (-181.683) as compared to the industry average of (0.470). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.538). Dividend Yield (0.000) settles around the average of (0.441) among similar stocks. P/S Ratio (6.013) is also within normal values, averaging (3.013).
The Tickeron Price Growth Rating for this company is 35 (best 1 - 100 worst), indicating steady price growth. XMTR’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 41 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 64, placing this stock slightly better than average.
The Tickeron PE Growth Rating for this company is 65 (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 93 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
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