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 | Xometry | $1,662 | -489 |
| 2 | Bright Laser | $1,421 | -70 |
| 3 | Farsoon | $1,245 | -68 |
| 4 | Proto Labs | $897 | -75 |
| 5 | Stratasys | $652 | +3 |
| 6 | Nano Dimension | $527 | -20 |
| 7 | 3D Systems | $442 | -20 |
| 8 | Materialise | $435 | -21 |
| 9 | Titomic | $134 | -18 |
| 10 | Desktop Metal | $90 | -10 |
| 11 | Markforged | $70 | +1 |
| 12 | AML3D | $63 | -1 |
| 13 | BigRep | $28 | -0 |
| 14 | Aurora Labs | $21 | +1 |
| 15 | Velo3D | $15 | +8 |
| 16 | Massivit | $11 | -1 |
| 17 | Steakholder Foods | $5 | -0 |
| 18 | Sygnis | $3 | +1 |
| 19 | Freemelt | $2 | -0 |
| TOTAL | $7,721 | -780 |
This week was pretty difficult on the markets in general, with most falling 1-2%. The leaderboard reacted in a similar fashion, albeit with exaggerated results, falling nine percent on the week.
By far the majority of this week’s decline on the leaderboard can be assigned to Xometry, which fell almost 23% this week. The company did not release any financials this week, but looking at the long-term pattern, it seems that the company’s valuation jumped upwards in mid-December. It may be that investors, seeing declines in the markets, felt it was time to cash in while the going was good. Unfortunately, it put a big dent into Xometry’s valuation, but the company remains at the top of the leaderboard.
Most companies on the leaderboard fell 3-7% this week, but Stratasys beat the odds and actually rose half a percentage point. It may be that their position with investors has solidified somewhat after seeing confusion generated by their competitor Nano Dimension’s leadership changes.
Regarding that confusion, the Nano Dimension leadership changes have put pending acquisitions of Markforged and Desktop Metal in jeopardy. Desktop Metal has sued, well, everybody involved, in hopes of forcing the deal to close. Desktop Metal’s valuation fell ten percent this week, likely due to the uncertainty of the acquisition outcome and the emergence of the lawsuits.
Meanwhile, Markforged is in a similar position to Desktop Metal. However, this week that company’s valuation did not fall, but actually rose a point. Is that because investors are confident the acquisition will proceed? By no means; it turns out that Markforged’s valuation, this week US$70M, is far, far below Nano Dimension’s proposed acquisition price. This means that investors have already discounted the value because of the uncertainty.
Aurora Labs gained another five percent this week, continuing a pattern we’ve seen with the Australian metal 3D printer manufacturer. Over the past year, the company has been quietly gaining value, perhaps due to management changes that occurred at the company last year.
Investors seem to have noticed the huge changes at Velo3D, as their valuation popped 114% this week. Since the company trades on the over-the-counter market since its expulsion from the NYSE, its valuation has fallen precipitously. However, last week, it was announced that the company’s shares have been acquired by one of their major investors, and new leadership has been installed. It’s likely that investors see these moves as very positive, resulting in the huge gains this week.
Titomic continued its volatile behaviour, this week falling twelve percent, again with no official news of any kind.
Upcoming Changes
We’ve heard very little about companies intending to become publicly traded recently. This is due to the ongoing lack of investor interest in the technology. The technology’s reputation has suffered immensely in the investment community because of multiple large-scale investment failures in the past few years.
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.
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