Xometry Inc. (XMTR) — RQD Stock Rating Cockpit

Per the Roarable RQD rating, XMTR scores 52 out of 100, a letter grade of D+, with the verdict "Roarable Sell — Weak Fundamentals / Trim." The five pillars break down as follows: Fundamental Cash Engine at 10 of 20 (ROIC -7.8%, FCF yield -0.42%); Whale 13F Flow at 14 of 20 (institutional accumulation and options positioning); Insider Conviction at 6 of 20 (SEC Form 4 and Congressional PTR cluster flow); Macro Regime Fit at 8 of 20 (Beta 0.91, sector sensitivity); and Forensic Balance Sheet at 14 of 20 (Altman Z 8.44, Piotroski F 6/9, Debt/Equity 0.65).

For a prospective investor, the pattern is a stock whose strongest support comes from balance-sheet and institutional-flow signals, while its weakest pillars are cash generation and insider conviction. Negative ROIC and negative FCF yield mean the business is not currently earning returns above its cost of capital or generating free cash relative to its market value. The Altman Z and Piotroski readings suggest the balance sheet is not the primary concern, so the rating's downgrade is driven mainly by operating economics and weak insider alignment. Upside drivers would need to come from margin improvement that moves ROIC and FCF toward positive territory; the valuation tradeoff is that a forward P/E of 20 is being paid against negative trailing EPS, so the forward figure depends on earnings recovery that the source data does not quantify. Beta of 0.91 indicates market-like sensitivity, meaning the stock is not defensively positioned against broad drawdowns while also not carrying elevated market-level volatility.

Per the SEC financials, revenue rose from $463.4M in FY 2023 to $686.6M in FY 2025 while operating losses narrowed from $-73.6M to $-45.5M over the same span. Per the market data, gross margin is 39.1%, operating margin is -6.6%, and net margin is -9%, with ROIC at -7.8%. Per the Roarable RQD forensic pillar, Altman Z-Score is 8.44, Piotroski F-Score is 6 of 9, and Debt/Equity is 0.65. Debt reported at $743.8M for FY 2023 declined to $192.1M for FY 2025, and cash moved from $15.0M in FY 2025 to $22.2M in FY 2024 and $15.0M in FY 2025 per the table.

Per the recent news and catalysts section, six items are indexed for XMTR, all with the relatedSymbol XMTR. Two are classified as CATALYST items with GREEN light: a GuruFocus report describing shares surging 4.3% and referencing a GF Score of 70, and a Seeking Alpha report titled "Accelerating Growth At Xometry." Four are classified as MARKET WIRE items with YELLOW light, including an Investing.com UK report stating the stock hit an all-time high at 107.96 USD, an Investor's Business Daily report, a Simply Wall St forecast piece, and a Yahoo! Finance Canada quote page. The news summaries are templated descriptions of market action and do not contain the underlying figures for the cited moves beyond the headlines. The Butterfly Supply-Chain Graph lists supply_chain as NONE, with no butterfly links and no proprietary signals.

• What does Xometry sell, to which customers, and through which revenue model? The source data provides no business description.
• What is the trailing P/E and EV/EBITDA, and how does the forward P/E of 20 reconcile with trailing EPS of -1.08?
• What drove the decline in cash from FY 2024 to FY 2025 while debt fell substantially from FY 2023, and what is the source of the FY 2023 cash figure, which is listed as N/A?
• What are the underlying holder records behind the institutional accumulation and insider cluster signals that the RQD pillars reference?
• What analyst coverage, consensus rating, and price targets exist for the stock?