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
|19||Sigma Additive Solutions||11||0|
This week saw a one percent rise in the leaderboard total, so not bad overall. Many companies had flat valuations as compared to last week, but, as usual, there were some exceptions.
First place Xometry saw a massive ten percent rise in value this week. While ten percent might not be notable as a percentage, the absolute value of that gain was US$192M, a sum larger than half of the companies on the leaderboard.
The results were due to the company’s most recent financial results, announced this past week. They saw a huge gain in revenue, year over year, of 83%, with 55% growth in their market. Even better, their gross profit was up 182%.
They also offered a forecast for the next quarter, suggesting additional revenue growth of between US$104-106M, which no doubt is a big part of the company’s valuation boost this week.
Second place 3D Systems also gained this week, with a near five percent jump. Curiously, this was not related to any particular announcement, as the company had previously announced their financials a few weeks ago. My suspicion is that the gain might have been a bit of a shine from leader Xometry.
Aside from those two, there were a number of companies that took valuation dips, mostly between 1-5 percent this week, including Stratasys, Desktop Metal Nano Dimension, SLM Solutions, Markforged and voxeljet.
Markforged’s valuation dropped by a rather large twelve percent this week, apparently a continuation of last week’s drop. That was caused by financial results that were not as good as those from some other companies. The week after week drop is likely because analysts sometimes take a while to take note of company announcements, so this week’s drop could be due to delayed analysis.
SLM Solutions also dropped in value notably this week, with a shift of over ten percent. This is quite curious, as they announced pretty good financial results a couple of weeks ago. In fact, the company described them as their “strongest ever 9M performance”.
However, if you look at the valuation graph for the company, you’ll see the stock price rise just after that announcement, but then fall back to where it was before a few weeks later. That’s where we’re at now. I guess good news doesn’t last!
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.
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.