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 | 782 | -49 |
| 2 | Xometry | 773 | -19 |
| 3 | Stratasys | 632 | -50 |
| 4 | Nano Dimension | 584 | -15 |
| 5 | 3D Systems | 467 | -23 |
| 6 | Materialise | 302 | -14 |
| 7 | Desktop Metal | 188 | -15 |
| 8 | Markforged | 84 | -9 |
| 9 | Titomic | 62 | -3 |
| 10 | Velo3D | 59 | -5 |
| 11 | FATHOM | 35 | -2 |
| 12 | Massivit | 33 | +0 |
| 13 | Aurora Labs | 16 | +3 |
| 14 | Steakholder Foods | 12 | +1 |
| 15 | AML3D | 11 | -1 |
| 16 | Shapeways | 8 | +1 |
| 17 | Freemelt | 8 | +0 |
| 18 | Sygnis | 4 | -0 |
| TOTAL | 4,061 | -200 |
This week saw mixed results on the markets in general, with the Dow plunging significantly, but the tech-heavy NASDAQ actually rising. Since our 3D print companies are tech companies, did they rise with the NASDAQ tide?
No, they did not. In fact, almost all of the companies suffered valuation losses this week, continuing trends that have persisted for several months.
Aurora Labs continued their leap upwards after announcing a raise in capital, and this week they shot up 28% in value. The company is now worth more than Shapeways, which has plummeted due to their announcement of selling a major software component.
Steakholder Foods rose over five percent this week on news the company could be entering the Taiwan market.
On the downside, there were many companies. However, some fared better than others. Nano Dimension fell only 2.6% this week, less than their competitors. This allowed the company to close the gap between them and rival Stratasys, which is now only US$48, or eight percent.
Markforged suffered a near nine percent loss in value this week, continuing trends that began a few weeks ago. They announced financial results, which were generally not great. Their revenue was down about 20%, but margins and expenses were down. However, they still posted a US$36M loss for the quarter, compared to US$19M last year. It seems investors are not high on Markforged, given the drop in value this week.
Velo3D fell eight percent, continuing a downward trend for the company. They also announced quarterly financials, and there were some surprising numbers present. Their revenue was significantly down to only US$9M in the quarter, whereas last year this quarter had US$27M in revenue. For the quarter they posted a GAAP loss of US$28.8M.
That’s quite a significant number, considering they also list their cash and investments at only US$11M. You can’t post US$28M losses each month if you have only US$11M in the bank.
To be fair, their sales are a bit lumpy due to the cost of their systems, so revenue can be up and down. The company still forecasts revenue growth of 30% for the year, and they say they have sales bookings of US$17M. They’ve also reduced expenses, which should help.
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.
