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Xometry filed 2025 revenue of $686.6 million, a 2025 operating loss of $45.5 million and Q1 2026 revenue of $205.1 million. The thesis depends on marketplace liquidity, supplier quality, gross margin and evidence that scale converts into durable cash flow.
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Redwire has fresh space and drone headlines, but the real RDW proof gate is whether record backlog converts into profitable revenue and cash without new dilution pressure.
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