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
This week saw more relatively dull results, with a couple of notable exceptions. The leaderboard dropped a mere three percent overall, but is tragically lower than it was only months ago. In early November 2021, our leaderboard’s total exceeded US$20B. Now it’s worth less than half of that, and that’s including half a dozen new additions to the list.
Winner of the week was FATHOM, the huge US-based digital manufacturing service. Their valuation jumped by nearly 19% over the week. I put this jump on their recent financial results, which indicate the company’s revenue had grown by a third, with orders increasing 17%. However, they posted a loss of US$2M.
That was news from four weeks ago, however. In succeeding weeks the company’s value dropped week after week, but now we see a bounce-back as the valuation seems to have hit a floor with investors. I expect it to bounce back even more in coming weeks.
Shapeways saw a drop of more than eleven percent this week, with their valuation landing at only US$69M. This is a company that at one point last fall had a valuation of US$564M, eight times higher.
Again, we look at their financial results and find that their revenue was down from last year, as well as they gross profit. They lost money rather than making money, as compared to the same quarter last year.
Those are all bad, but the company is taking important steps forward. They’ve made several strategic acquisitions, including online RFQ provider MFG.com, MakerOS, and a plastics production company. They’ve also just hired a Chief Operating Officer.
Hopefully these changes will shift gears for the company.
Unfortunately Velo3D’s valuation dropped the most this week, with yet another dramatic loss, this time almost 18%. Their current valuation is US$338M, a long, long distance from their peak of US$2,240M. The loss leaves Velo3D in tenth spot 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.
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.