Xometry, the US-based on-demand manufacturing platform, saw its shares hit a new record high of $99.87 on the Nasdaq on Thursday, 16 July 2026, before closing slightly lower. The surge reflects sustained investor enthusiasm for the company's AI-driven marketplace that connects buyers with manufacturers for custom parts and prototypes.
The stock has more than doubled over the past 12 months, outperforming the broader technology sector. Analysts attribute the rally to Xometry's recent quarterly results, which showed a 34% year-on-year increase in revenue, alongside improvements in gross margins. The company has also benefited from a trend among manufacturers to diversify supply chains away from China, boosting demand for its instant-quoting platform.
For UK investors and pension holders with exposure to US equities or global technology funds, Xometry's performance underscores the potential gains from digital industrial platforms. However, the strength of the US dollar against sterling means that GBP-denominated returns could be affected by currency fluctuations. The pound traded around $1.28 on Friday, down from $1.32 earlier in the month.
In the broader market context, the Nasdaq Composite rose 0.6% on Thursday, supported by positive earnings from several tech firms. Xometry's gains were among the standout moves in the industrials subsector. Sector analysts at Jefferies noted that the company's 'Instant Quoting Engine' continues to attract new customers, particularly in aerospace and medical devices, where precision and speed are critical.
No UK-listed direct equivalent exists, but the rise of digital manufacturing platforms is being watched closely by domestic engineering and 3D printing firms. Xometry's valuation now sits at approximately $4.8bn, reflecting a price-to-sales multiple of around 7.5x, which some analysts consider elevated but justified by growth prospects.