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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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Allied still has HyperX Arena Las Vegas, Z-Tech mobile games, and a balance-sheet cushion, but the current thesis is about the late 10-K, Nasdaq delisting risk, reverse-split vote, Knighted settlement, and whether revenue can ever catch the cost base.
OpenABVC looks like a tiny biotech, a licensing company, a CDMO, and a Taiwan real-asset story in the same filing. The first proof gate is whether cash, controls, and partners can catch up to the size of the pipeline.
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