XM XMTR Xometry, Inc. Loading... : Investor Sentiment and Bull/Bear Views

Xometry is an AI-native marketplace for custom manufacturing with a strong moat from proprietary training data, a major partnership and investment from Siemens, massive underpenetrated TAM, and strong growth.

Xometry is a digital marketplace for custom, non-contract manufacturing. It links fragmented buyers with about 500,000 fragmented North American suppliers that have volatile spare capacity, a structure that gives market power to the marketplace. It is growing 20-30% with room to keep growing for a decade, and its international revenue has grown from about zero to roughly 20%. It has broken into large enterprises by plugging into their ERP and procurement systems, with some customers spending more than $10M a year, which Pernas says disproves an earlier short report. It is near break-even, incremental margins are about 20%, and EBITDA margins can rise once management shifts from growth to profit. Pernas says it is not cheap, but given the market opportunity it is 'impossible to not own'.