Xometry, Inc. (NASDAQ:XMTR) just released its second-quarter report and things are looking bullish. Results overall were solid, with revenues arriving 3.1% better than analyst forecasts at US$133m. Higher revenues also resulted in substantially lower statutory losses which, at US$0.28 per share, were 3.1% smaller than the analysts expected. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

View our latest analysis for Xometry

Following the latest results, Xometry's nine analysts are now forecasting revenues of US$538.6m in 2024. This would be an okay 7.2% improvement in revenue compared to the last 12 months. Per-share losses are predicted to creep up to US$1.14. Before this earnings announcement, the analysts had been modelling revenues of US$539.9m and losses of US$1.20 per share in 2024. It looks like there's been a modest increase in sentiment in the recent updates, with the analysts becoming a bit more optimistic in their predictions for losses per share, even though the revenue numbers were unchanged.

The average price target held steady at US$22.00, seeming to indicate that business is performing in line with expectations. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. Currently, the most bullish analyst values Xometry at US$27.00 per share, while the most bearish prices it at US$12.00. Note the wide gap in analyst price targets? This implies to us that there is a fairly broad range of possible scenarios for the underlying business.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Xometry's past performance and to peers in the same industry. We would highlight that Xometry's revenue growth is expected to slow, with the forecast 15% annualised growth rate until the end of 2024 being well below the historical 33% p.a. growth over the last three years. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 5.6% per year. So it's pretty clear that, while Xometry's revenue growth is expected to slow, it's still expected to grow faster than the industry itself.

The Bottom Line

The most important thing to take away is that the analysts reconfirmed their loss per share estimates for next year. Fortunately, they also reconfirmed their revenue numbers, suggesting that it's tracking in line with expectations. Additionally, our data suggests that revenue is expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that in mind, we wouldn't be too quick to come to a conclusion on Xometry. Long-term earnings power is much more important than next year's profits. We have forecasts for Xometry going out to 2026, and you can see them free on our platform here.

You should always think about risks though. Case in point, we've spotted 3 warning signs for Xometry you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.