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 | 821 | -28 |
| 2 | Stratasys | 787 | -66 |
| 3 | Nano Dimension | 676 | -30 |
| 4 | Protolabs | 668 | -11 |
| 5 | 3D Systems | 517 | -48 |
| 6 | Desktop Metal | 388 | -26 |
| 7 | Materialise | 297 | -26 |
| 8 | Velo3D | 273 | -39 |
| 9 | Markforged | 243 | -20 |
| 10 | Massivit | 31 | -4 |
| 11 | FATHOM | 26 | -5 |
| 12 | Shapeways | 19 | +0 |
| 13 | Steakholder Foods | 17 | -2 |
| 14 | Freemelt | 12 | -5 |
| 15 | AML3D | 11 | -2 |
| 16 | voxeljet | 10 | +1 |
| 17 | Titomic | 7 | +1 |
| 18 | Sygnis | 5 | +0 |
| 19 | Sigma Additive Solutions | 4 | -7 |
| 20 | Aurora Labs | 3 | -0 |
| TOTAL | 4,816 | -344 |
This week saw a precipitous drop in the leaderboard total, with most companies dipping in value. This was quite unusual because the markets in general were slightly up this week, and the 3D print companies tend to exaggerate trends.
Evidently investors soured on 3D print companies this week for some reason.
At the top of the leaderboard we have a change: Xometry has re-taken top spot from Stratasys, which had previously bumped out 3D Systems a few months ago during the takeover saga. Xometry had previously held top spot for quite a while, but slipped and allowed 3D Systems to move up. Now they’re back at the top. Why? Simply because their valuation happened to drop a bit less than Stratasys this week, facilitating the positional change.
Stratasys’s value dropped about the average for the leaderboard this week, but there may be other reasons for this shift. It could be that investors no longer have a major corporate move upcoming for the company, as its proposed merger with Desktop Metal failed, and they rejected the latest offer from 3D Systems.
The other reason might be due to the recent conflict in Gaza. Stratasys is headquartered in Israel (and Minneapolis), which may have created some unsettled investors, regardless of whether there is any direct effect on the company.
Meanwhile, 3D Systems fell to fifth place on the leaderboard, their lowest position since we launched our tracking. As of this week the company’s valuation is close to US$500M, vastly less than their June 2021 valuation of almost U$5B – that’s a drop of almost 90%. Their decreasing valuation has clearly had an effect on their Stratasys takeover strategy, as a portion of their bids were dependent on their stock price.
The other player in the Stratasys takeover was Nano Dimension. This week the company’s valuation dropped somewhat, as many others did. However, they devalued less and the result was a shift into third position on the leaderboard, their highest on our records. Surprisingly, they are now 30% more valuable than 3D Systems.
FATHOM continued their downward valuation trend, most likely driven by their recent reverse stock split. This was required to maintain their presence on the stock market, but has been seen negatively by investors as is usually the case with reverse stock splits.
Upcoming Changes
A company set to appear was Essentium, who announced plans to use a SPAC-merger to launch on NASDAQ. However, that deal has been suspended so we’re wondering what the company’s next steps might be.
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.
