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
|Sigma Additive Solutions
This week saw lopsided results. While the overall market went up a percent or so, the leaderboard total rose almost two percent. However, this was almost entirely due to one company’s movement.
That company would be Xometry, the current board leader. The company rose over ten percent this week. There were no particular announcements causing this, but rather it is a continuation of their gradual recovery to previous levels. About a year ago their valuation fell precipitously, but since then they’ve continued to rise and remain at the top of the board.
Aside from Xometry, two other companies did well this week. One was Massivit, the Israeli company specializing in large format 3D printing. They recently released their 2023 financials, which showed that the company grew 25% in spite of operating in the midst of the Gaza war. Evidently investors were impressed, and the valuation jumped almost 28% this week.
Another gainer was Steakholder Foods. The company is developing methods of 3D bioprinting highly realistic “steaks” using cultivated meat cells. This week they announced the purchase of over US$6M in American Depository Shares, which are a way for US investors to work with the company. This was welcomed by the market, which drove up the company’s valuation by over twelve percent.
Most other companies were either flat or down. Two notables were Velo3D, which fell another eleven percent. This seems to be a pattern after the recent departure of their founder. The other company was Markforged, which fell twelve percent. The company has been under notice from the stock exchange about their lowered share price, and this will require combining shares to raise that price. That move usually results in lowered valuation, which is exactly what we see here.
Finally, let’s check in on the three companies involved in takeover maneuvers earlier this year: 3D Systems, Nano Dimension and Stratasys. Nano Dimension has an active bid to acquire Stratasys as of this writing.
Nano Dimension rose this week by almost four percent. This places their valuation just barely behind 3D Systems: only US$17M lower. It is entirely possible next week their valuation could exceed 3D Systems’.
Stratasys remains larger than either, with a 44% lead over 3D Systems.
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!
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.