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 | 891 | +39 |
| 2 | Protolabs | 795 | -7 |
| 3 | Stratasys | 678 | -21 |
| 4 | Nano Dimension | 557 | +14 |
| 5 | 3D Systems | 483 | +25 |
| 6 | Materialise | 318 | +9 |
| 7 | Desktop Metal | 281 | +9 |
| 8 | Markforged | 125 | -10 |
| 9 | Velo3D | 68 | -4 |
| 10 | Titomic | 36 | -4 |
| 11 | FATHOM | 36 | +0 |
| 12 | Massivit | 33 | +1 |
| 13 | AML3D | 14 | +1 |
| 14 | Steakholder Foods | 12 | -0 |
| 15 | Shapeways | 10 | -1 |
| 16 | Freemelt | 9 | -0 |
| 17 | Aurora Labs | 8 | +1 |
| 18 | Sygnis | 4 | -0 |
| TOTAL | 4,358 | +54 |
This week saw markets overall up about a single percent. Our leaderboard total was up 1.24%, curiously the exact same percentage rise as the tech-heavy NASDAQ this week.
None of the 3D print companies on the leaderboard moved terribly much this week, so there’s little drama to report. In fact, every company maintained their rank from last week, a rare occurrence.
I can say that Xometry, in position one on the leaderboard, rose almost five percent. This cemented their recently re-taken lead position over rival Protolabs.
Markforged fell seven percent this week, likely due to investors becoming aware of the significant lawsuit verdict against the company. Earlier last month a court in Delaware ruled against the company. They explained in a press release:
“The jury returned a verdict against Markforged, Inc., a wholly-owned subsidiary of the Company, in the amount of $17.34 million. As previously disclosed, in July 2021, Continuous Composites, a company based out of Idaho, filed a patent-infringement lawsuit against the Company. The jury found one of the two patent claims Continuous Composites asserted at trial against the Company to be invalid and not infringed. However, the jury found that the Company had infringed the other patent claim and awarded monetary damages. While the Company cannot predict what additional action Continuous Composites may take, it is possible that they may seek additional relief through post-trial motions for royalty payments on future revenue, which could materially impact the Company’s business and operations.”
The last statement, while true, will not bring smiles to Markforged investors.
Titomic continued their reset back to “normal” values, dropping over nine percent this week. That may sound significant, but the company’s valuation has been sky-high for the last few weeks, and is still stabilizing.
Shapeways lost another ten percent this week, leaving the once highly-valued company’s valuation at a mere US$10M. At one point after the company went public in October 2021, Shapeways was valued at US$564M. This week’s valuation is a decrease of 98.3%, an astonishing loss of value.
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!
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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.
