Core Thesis - Xometry, Inc. is positioned as a transformative force in the manufacturing supply chain, leveraging AI to optimize operations and connect underutilized manufacturing capacity with customer demand [3][4][6] Company Overview - Xometry, Inc. operates an AI-powered online manufacturing marketplace both in the United States and internationally, trading at a modest multiple of 4.9x, which may not fully reflect its long-term potential [3] - Founded in 2013, Xometry has expanded from 3D printing into high-volume manufacturing across sectors such as aerospace, semiconductors, medical, and defense, establishing itself as a trusted partner for high-precision orders [4] Competitive Advantage - The company's competitive moat is driven by proprietary AI technology and the network effect from its growing supplier and customer base, optimizing pricing and order matching in real time [4] - Continuous software enhancements through platforms like Teamspace and Workcenter deepen client relationships and expand the range of problems Xometry can address [4] Strategic Acquisitions - The 2021 acquisition of Thomas, a leading industrial sourcing platform, has broadened Xometry's reach and positioned it to capture more value from a wider customer base [5] Financial Performance - Despite facing short-term challenges such as modest operating leverage and a complex balance sheet, Xometry has shown resilient revenue and margin growth, along with geographic expansion [5] Future Potential - If successful in simplifying supply chain complexities for various industries, Xometry could evolve into a "Singularity Scaler," potentially delivering significant returns as AI and network effects enhance its value [6] - The company's scalable platform and strong data-driven moat position it well for long-term exposure to the digitization and AI transformation of manufacturing [6]

Leading the Future of Manufacturing Q4 2025 Earnings Presentation February 24, 2026 This presentation also contains estimates and other statistical data from both independent third parties and the Company relating to market size and growth and other data about the Company's industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. While the Company believes the estimates and statistical data from these independent third parties ar ...