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 | Bright Laser | $1,779 | +82 |
| 2 | Xometry | $968 | -27 |
| 3 | Farsoon | $938 | +47 |
| 4 | Protolabs | $769 | -1 |
| 5 | Nano Dimension | $485 | -9 |
| 6 | Stratasys | $479 | -72 |
| 7 | Materialise | $316 | -9 |
| 8 | 3D Systems | $286 | -65 |
| 9 | Desktop Metal | $146 | +2 |
| 10 | Titomic | $128 | +24 |
| 11 | BigRep | $72 | -29 |
| 12 | Markforged | $52 | -3 |
| 13 | AML3D | $35 | +4 |
| 14 | Aurora Labs | $16 | -0 |
| 15 | Massivit | $12 | -0 |
| 16 | Velo3D | $11 | -0 |
| 17 | Freemelt | $9 | -1 |
| 18 | Steakholder Foods | $8 | +0 |
| 19 | Sygnis | $4 | +0 |
| TOTAL | $6,512 | -57 |
This week saw mixed results on the markets overall, with a bit of a downward trend for tech stocks. That was reflected on the leaderboard, which dropped its total by just under a percent from last week.
There were several very significant moves this week, with BigRep being the biggest. Unfortunately, it was on the negative side, with the company’s valuation plummeting almost 29% this week. This is a continuation of the trend from their launch on the markets a few weeks ago: the valuation slides downward every week. At this point they are down about 70% from their peak value, only a few weeks ago. This pattern is similar to several other companies that entered the market using the SPAC approach, but most of them started over a year ago. It seems that the market still doesn’t like SPACs.
Weird things continue in the Australian metal 3D printing industry. Titomic, already notorious for massive unexplained valuation swings up and down, rose almost 23% this week. Of course, there was no news from the company to explain this move. The recent leaps in valuation have positioned the relatively unknown company larger than BigRep, Markforged and Velo3D.
AML3D also jumped upwards over twelve percent this week. Of course, there was no news there either. It may be that investors see a run on Australian metal 3D printer companies and scooped up AML3D along the way. However, Aurora Labs didn’t catch the wind and remained flat this week.
Both Stratasys and 3D Systems released their financial results this week, and both were not particularly positive, although not entirely negative either.
3D Systems reported a decrease in revenue, year over year, and they’re also down for the year overall so far. Investors evidently were not happy and the company’s valuation dropped almost 19% this week. This left their weekly valuation at only US$286M, the lowest we’ve seen since the leaderboard launched years ago. At one point the company was valued at US$4.9B, now they are only six percent of that.
Stratasys similarly reported revenue drops of around 15%, which seems to have been slightly lower than expectations. However, they have been managing costs and announced a plan to reduce expenses by a whopping 40% annually. In spite of that, investors pushed the company’s valuation down by 13%.
The bad news at Stratasys and 3D Systems caused them to end up both with smaller valuations that rival Nano Dimension, which now sits in fifth place on the leaderboard. This is the first time that Nano Dimension has topped this group of three on our leaderboard. I do find this strange, however, because both 3D Systems and Stratasys have revenues many times that of Nano Dimension.
Upcoming Changes
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.
