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 | $826 | +14 |
| 2 | Xometry | $693 | +21 |
| 3 | Stratasys | $642 | +5 |
| 4 | Nano Dimension | $507 | -15 |
| 5 | 3D Systems | $498 | -32 |
| 6 | Materialise | $326 | +28 |
| 7 | Desktop Metal | $178 | +12 |
| 8 | Titomic | $122 | +42 |
| 9 | Markforged | $78 | -20 |
| 10 | AML3D | $38 | -6 |
| 11 | Velo3D | $24 | -3 |
| 12 | Aurora Labs | $22 | -3 |
| 13 | Massivit | $17 | +1 |
| 14 | Freemelt | $11 | -1 |
| 15 | Steakholder Foods | $9 | -1 |
| 16 | Sygnis | $4 | +0 |
| TOTAL | $3,993 | +43 |
This week saw the tech markets drop significantly, with the NASDAQ falling over four percent. Did that echo into the 3D print companies? Actually, it did not, with the leaderboard gaining a full percent this week.
But that didn’t mean there weren’t winners and losers.
On the positive side we see Titomic leaping upwards over 53% this week. The Australian metal 3D printing manufacturer’s stock has been on a tear lately, likely driven by seemingly continuous announcements of deals with various military organizations. The company’s valuation has been extraordinarily volatile, jumping up and down in recent months. This week it was strongly up. The latest boost puts their valuation at a huge US$122M – now larger than Markforged, which they leapt over on the leaderboard.
As you might have guessed, Markforged dropped this week, over 20%. The company’s valuation has been steadily falling since fall 2023, and this week continued that pattern.
The two other Australian metal 3D printing companies on the leaderboard did not match Titmice’s rise, as sometimes happens with similar companies. Instead, AML3D fell 13%, and Aurora Labs fell ten percent.
Another metal 3D printer manufacturer, Velo3D, dropped twelve percent this week on news that they have received a compliance notice from the NYSE. They explain:
“Velo3D today announced that on July 8, 2024 it received notice from the New York Stock Exchange (“NYSE”) that it is not in compliance with Section 802.01B of the NYSE Listed Company Manual because its average total market capitalization over a consecutive 30 trading-day period was less than $50 million and, at the same time, its stockholders’ equity was less than $50 million. As of July 5, 2024, the company’s 30 trading-day average market capitalization was approximately $36.6 million and its last reported stockholders’ deficit, as of March 31, 2024, was approximately ($45.5) million.”
They intend on developing a response plan, but it isn’t clear what that might be. In any case, investors seemed to be fearful of the outcome and the valuation fell accordingly — worsening the situation with the NYSE.
Nano Dimension fell three percent, a week after announcing the takeover offer for Desktop Metal. Meanwhile, Desktop Metal rose by seven percent.
3D Systems fell six percent, but Stratasys remained positive and grew slightly. This places Stratasys ahead of Nano Dimension by US$135M, and Nano Dimension is ahead of 3D Systems by a slim US$9M.
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.
