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 | $5,877 | +112 |
| 2 | Farsoon | $4,891 | -464 |
| 3 | Bright Laser | $4,007 | -417 |
| 4 | Shining 3D | $2,459 | 0 |
| 5 | Proto Labs | $2,349 | +47 |
| 6 | Creality | $1,644 | -264 |
| 7 | Stratasys | $762 | +39 |
| 8 | 3D Systems | $628 | +35 |
| 9 | Materialise | $502 | +7 |
| 10 | Velo3D | $360 | -3 |
| 11 | Nano Dimension | $344 | +13 |
| 12 | Titomic | $136 | -14 |
| 13 | 6K Additive | $87 | +8 |
| 14 | AML3D | $53 | -5 |
| 15 | Aurora Labs | $22 | +5 |
| 16 | Massivit | $13 | +1 |
| 17 | Sygnis | $6 | +0 |
| 18 | Freemelt | $6 | +0 |
| 19 | Steakholder Foods | $1 | -1 |
| TOTAL | $24,147 | -901 |
This week saw mixed results on major markets, but notably the NASDAQ was up, almost a percentage point, while the Shanghai index was down almost a percent. In all, the leaderboard dropped more than three percent, so not a good week.
Farsoon and Bright Laser both fell about nine percent each, and they are almost certainly victims of a broad sell-off in Chinese markets. This is a sector thing for Chinese investors, nothing to do with these particular companies, as the STAR market was basically hammered.
I have to report this: Velo3D did not violently change market value this week! The company normally bobbles up and down quite dramatically, so having a flat week is notable.
Xometry continued growing, likely using more trading momentum that developed last week. This week they rose another two percent.
Along the same lines, both Stratasys and 3D Systems, the original tradable 3D printer manufacturers, both rose about five percent this week, likely riding on the previous week’s momentum.
6K Additive, the metal powder manufacturer, rose about eleven percent this week. That’s due to a couple of announcements. One is a nine-ten digit deal with ADDMAN to supply metal powder, and secondly a financing agreement was finalized to allow the company to expand. Those are good enough reasons for investors to drive up the valuation.
Aurora Labs appears to have risen 33%, but in reality it was only about 15%. The discrepancy seems to be due to data feed timing problems where sources updated the share count, amplifying the apparent gain.
Steakholder Foods valuation fell around 60% this week, now with a valuation of about only US$700K. Why such a dramatic fall? It seems that the company has been desperately refinancing itself with repeated warrants for ADSs. The refinancing was so extreme that their shareholders actually approved increasing the number of authorized ordinary shares from 50 billion to a quadrillion shares! Don’t believe me? This is direct from the SEC filing:
“To take advantage of favourable market conditions or to pursue such other opportunities, the Board recommends that the Company increase the number of ordinary shares it is authorized to issue by 999,950,000,000,000, from 50,000,000,000 ordinary shares to 1,000,000,000,000,000 ordinary shares.”
I have never seen a financial number with 16 digits.
It’s no wonder investors are punishing the company, and one wonders whether they can survive this financial situation. Talk about that dilution potential!
Finally, I checked in on Nano Dimension, the most unusual company on the leaderboard. Long a 3D printing company, they underwent substantial management change as a result of a stockholder revolt. The new management abruptly shut down or sold off all of their 3D print holdings, and suddenly announced they would be merging with a biotech company, Infinite Epigenetics.
You’d think we’d take them off the leaderboard as a result of that change, but there was talk of another shareholder revolt to undo the pivot, and the biotech deal was incomplete.
Now we find out that the deal in fact did NOT go through during the 30-day exclusivity period. This means that their proposed exit from 3D printing into epigenetic diagnostics appears to have been stopped or at least frozen following the Murchinson intervention.
It’s not at all clear what’s next for the company, as they seem to be in limbo at the moment. We’ll leave them on the leaderboard a bit longer.
Upcoming Changes
We’ve heard very little about companies intending to become publicly traded recently. This is due to the ongoing lack of investor interest in the technology. The technology’s reputation has suffered immensely in the investment community because of multiple large-scale investment failures in the past few years.
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.
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