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 | $2,219 | -56 |
| 2 | Farsoon | $1,823 | -33 |
| 3 | Xometry | $1,528 | -332 |
| 4 | Proto Labs | $894 | -17 |
| 5 | Stratasys | $738 | -19 |
| 6 | Materialise | $322 | -14 |
| 7 | Nano Dimension | $313 | -16 |
| 8 | Titomic | $254 | -4 |
| 9 | 3D Systems | $229 | -7 |
| 10 | AML3D | $52 | +2 |
| 11 | Aurora Labs | $12 | +1 |
| 12 | Massivit | $8 | -0 |
| 13 | Freemelt | $8 | +1 |
| 14 | Steakholder Foods | $7 | +5 |
| 15 | Sygnis | $4 | -1 |
| TOTAL | $8,413 | -492 |
This week saw one percent-ish declines in the major markets, and this was reflected in the leaderboard results.
Last week Xometry rose to second place on the leaderboard, but that didn’t last long. This week the company’s valuation plummeted almost 20%, allowing Farsoon to leap up into second position.
Why would Xometry drop? It’s all about debt. The company issued and converted a convertible notes offering of US$250M this week. Essentially, they took out a loan of that amount, payable in future years. However, the story is far more complex, as it turns out that they were using the new funds to pay off previous notes. Effectively they pushed out the debt into the future (and added a bit more).
While perhaps a good financial move, it seems that investors were not keen on added debt, and the company’s valuation fell accordingly.
Aurora Labs rose almost nine percent on news they’ve been awarded a AUD$544K government grant to expand their production facilities. The company intends on adding to their capacity for producing metal parts for gas turbines.
Most of the other companies on the leaderboard remained more or less static this week, although we may see some dramatic shifts next week.
The concern is the Israeli / Iran conflict, which erupted on Friday. It turns out that several companies on the leaderboard are based in Israel, including:
- Stratasys
- Nano Dimension
- Massivit
- Steakholder Foods
That’s one quarter of the leaderboard.
We don’t know the effect of the conflict on these companies, but it certainly will have some kind of effect. At the very least these companies will have decreased staff as army reservists will have been called up and cannot work for the company.
There’s also the possibility of direct damage. Iran has fired countless missiles at Israel, targeting a variety of installations. One target yesterday was the Weizmann Institute of Science, which has been associated with several 3D print companies. Most of these weapons have been intercepted before causing damage. While they have not apparently targeted industry facilities, it is entirely possible they may do so in coming days, particularly if the conflict escalates.
A similar situation occurred earlier, and there was little effect Israel’s business activities. However, this conflict appears to be at a higher level. We’ll have to watch how investors view the situation next week, especially if escalations occur.
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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