Once again we take a look at the valuations of the major 3D printing companies over the past week.
Publicly traded companies are required to post their financial reports, as well as appear on stock markets. From there we can calculate the total value of their company by multiplying the current stock price by the number of outstanding shares. This number is the market capitalization, and represents the current valuation of the company.
It’s a great number of compare companies, as the market capitalization can be leveraged to provide more capabilities for the company. Shares could, for example, be used as collateral for a loan. That and similar maneuvers could generate cash with which the company might undertake new projects.
In other words, “market cap”, as it is known, is quite important.
You might think it’s not important to monitor these companies each week, as their value is realized only when stocks are sold. However, events happen to companies occasionally that cause their value to rise and fall, and this weekly post is where we track such things.
Note that our list here does not include all major 3D print companies. Not all 3D print companies are publicly traded, and thus we cannot officially know their true size, such as EOS. Others, like HP or Siemens, have very large 3D printing divisions, but are part a much larger enterprises and we cannot know the true size of their 3D printing activities.
Let’s take a look at the 3D printing companies on this week’s list.
3D Printing Leaderboard
| RANK | COMPANY | CAP | CHG |
| 1 | Protolabs | 817 | -13 |
| 2 | Xometry | 781 | -63 |
| 3 | Stratasys | 699 | -5 |
| 4 | Nano Dimension | 529 | -49 |
| 5 | 3D Systems | 474 | -20 |
| 6 | Materialise | 308 | +8 |
| 7 | Desktop Metal | 278 | -38 |
| 8 | Markforged | 137 | +4 |
| 9 | Velo3D | 74 | -9 |
| 10 | Massivit | 38 | -2 |
| 11 | FATHOM | 31 | +1 |
| 12 | Titomic | 29 | -9 |
| 13 | Steakholder Foods | 12 | -0 |
| 14 | AML3D | 12 | -1 |
| 15 | Shapeways | 11 | -1 |
| 16 | Freemelt | 11 | +0 |
| 17 | Aurora Labs | 5 | -1 |
| 18 | Sygnis | 4 | -0 |
| TOTAL | 4,250 | -186 |
This week saw pretty horrible results in the markets in general, with exchanges dropping 3-6%. Fortunately, the leaderboard fell only four percent today, as it typically exaggerates larger patterns. Most of the drops in value this week are simply due to following market trends.
At the top of the leaderboard, Xometry happened to drop just enough to fall out of first place, leaving Protolabs to take the top spot. Protolabs also lost value this week, just not as much as Xometry.
Titomic suffered a huge drop in value, some 23%. While that may seem extreme, it’s par for the course in small cap stocks, where extreme swings are frequent. In this case the company’s value rose significantly in the past two weeks due to a big announcement of a sale to the military. But then profit-taking took over and the value came back down to more or less where it was previously.
Desktop Metal fell twelve percent this week, likely a rebound from the recent high. The company’s value fell after the failure of the proposed Stratasys merger, and subsequently recovered as Desktop Metal further invested in the dental market. However, that high was struck, and then value fell back to a more normal level this week.
Velo3D fell another eleven percent this week, continuing a downward trend that started with the announcement of a US$12M public offering.
The three leading 3D printer manufacturers, Stratasys, Nano Dimension and 3D Systems maintained their respective positions in third to fifth spot on the leaderboard. Stratasys was near flat this week, which is quite an accomplishment given the carnage seen by others. 3D Systems lost four percent, which is about even for this week.
Nano Dimension, however, lost almost 8.5% in value this week, continuing a trend that followed their early April announcement of the “Reshaping Nano” initiative to reduce cash burn, which evidently was not seen positively by investors. While reducing cash burn is a good thing, the fact that it is happening at all may be what was noticed by some investors.
As of this week, Stratasys is US$170M ahead of Nano Dimension, while 3D Systems trails Nano Dimension by now only US$55M.
Upcoming Changes
BigRep announced plans to go public via the SPAC approach, so we will soon see them appear on the leaderboard.
One company I’ve started to watch is ICON, the Texas-based construction 3D printer manufacturer. This privately-held company has been raising a significant amount of investment to the tune of almost half a billion dollars. At that level it is likely they will be discussing a transition to public markets at some point, which would certainly place them at or near the top of our leaderboard.
Another company that would seem logical to go public is VulcanForms, a manufacturing service using an advanced metal 3D printing process. They are currently privately valued at over US$1B, and going public could cause that to go even higher.
If you are aware of any other publicly-traded 3D print companies that should be on our leaderboard, please let us know!
Others In The Industry
While we’ve been following the public companies, don’t forget there are a number of private companies that don’t appear on any stock exchange. These privately-held companies likely have significant value, it’s just that we can’t know exactly what it is at any moment. The suspected bigger companies include EOS, Carbon and Formlabs.
Perhaps someday some of them will appear on our major players list.
Related Companies
Finally, there are a number of companies that are deeply engaged in the 3D print industry, but that activity is only a small slice of their operations. Thus it’s not fair to place them on the lists above because we don’t really know where their true 3D print activities lie.
