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XMTR earnings analysis

10-Q · Filed November 3, 2026 · Our reading of the company's report

The latest report

Xometry delivered Q3 revenue of $252.439 million, up approximately 10.2% sequentially and 39.5% year over year, while gross margin improved to 39.1% and GAAP diluted EPS reached $0.03. Marketplace revenue grew 43%, and…

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Xometry delivered Q3 revenue of $252.439 million, up approximately 10.2% sequentially and 39.5% year over year, while gross margin improved to 39.1% and GAAP diluted EPS reached $0.03. Marketplace revenue grew 43%, and management raised full-year revenue-growth guidance from 33%-34% to at least 37%. The principal disclosed risks are foreign-exchange exposure, potential inability to offset inflationary costs, and ordinary-course legal uncertainty; the filing reported no material changes to the 2025 Form 10-K risk factors.

Read the original on SEC.gov

Gross and operating margin

How much of each revenue dollar the business keeps.

40% Gross margin Operating margin Nov 2024 Nov 2026

One point per quarterly or annual filing. Both margins are shares of that report's revenue.

How we read each report

Our analysis across the last few reports.

Read as bullish Read as bearish Nov 2024 Nov 2026

Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.

Reported figures

Earnings per share
$0.03
Gross margin
39.1%
Segment
Marketplace revenue growth: 43% year over year in Q3 2026.
Segment
International operations represented approximately 16% of revenue for the nine months ended September 30, 2026.

What stood out

  • Revenue accelerated strongly

    Q3 revenue was $252.439 million, up approximately 10.2% from $229 million in Q2 2026 and approximately 39.5% from $181 million in Q3 2025.

  • First GAAP profit reported

    Gross margin was 39.1%, up from 38.0% in Q2 2026 but down from 39.9% in Q3 2025. GAAP diluted EPS was $0.03 versus $(0.10) in Q2 2026 and $(0.23) in Q3 2025, marking the company’s first GAAP profit.

  • Marketplace growth remained robust

    Marketplace revenue grew 43% year over year in Q3 2026, supporting the increase in total revenue to $252.439 million.

  • Full-year outlook raised

    Management raised full-year 2026 revenue-growth guidance from 33%-34% to at least 37%, with Q4 revenue guidance of $254 million-$256 million.

  • International exposure quantified

    International operations generated approximately 16% of revenue for the nine months ended September 30, 2026; a 10% unfavorable change in the average euro exchange rate would have reduced nine-month revenue by 1.2%.

  • Controls remained effective

    Disclosure controls and procedures were deemed effective at a reasonable assurance level as of September 30, 2026, and management reported no changes to internal control over financial reporting that materially affected or were reasonably likely to materially affect controls during the quarter.

What to watch

  • Foreign-exchange sensitivity

    A 10% unfavorable change in the average euro exchange rate would have decreased revenue for the nine months ended September 30, 2026 by 1.2%; international operations represented approximately 16% of revenue.

  • Inflation may pressure costs

    Management stated that significant inflationary pressures could prevent the company from fully offsetting higher costs through price increases, which could harm results and financial condition.

  • No material risk-factor updates

    The filing states that there were no material changes to the risk factors disclosed in the 2025 Form 10-K; however, the company remains exposed to adverse outcomes from ordinary-course legal proceedings, which cannot be predicted with certainty.

Management's outlook

Management raised full-year 2026 revenue-growth guidance from 33%-34% to at least 37%. Q4 2026 revenue guidance was $254 million-$256 million and Adjusted EBITDA guidance was $22 million-$22.5 million; full-year Adjusted EBITDA guidance was $68 million-$68.5 million.

Earlier filings 4

10-Q · August 4, 2026

Xometry delivered Q2 revenue of $229.3 million, up 41% year over year and 11.7% sequentially, driven by 45% marketplace growth and continued expansion in active buyers and larger accounts. Profitability improved…

10-Q · May 7, 2026

Xometry reported impressive Q1 2026 results, including a revenue of $205.1 million, significantly surpassing estimates and marking a 36% increase year-over-year. EPS improved to $0.12 from a loss of $0.30 in the prior…

10-K · February 24, 2026

Xometry’s 2025 10-K emphasizes an AI-native marketplace strategy, continued network scale (81,821 Active Buyers; 4,996 Active Suppliers) and product expansion (auto-quote for injection molding added in late 2025).…

10-Q · November 4, 2025

Xometry reported Q3 revenue of $180,715,000, up $39,017,000 (27.5%) versus Q3 2024, with gross profit rising to $72,029,000. Operating loss narrowed slightly to $(11,059,000) (about -6.1% of revenue) but the company…

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