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 | Protolabs | 772 | -44 |
| 2 | Xometry | 618 | -108 |
| 3 | Stratasys | 587 | -44 |
| 4 | Nano Dimension | 511 | -63 |
| 5 | 3D Systems | 468 | -81 |
| 6 | Materialise | 302 | +2 |
| 7 | Desktop Metal | 127 | -35 |
| 8 | Markforged | 94 | +6 |
| 9 | Titomic | 56 | -4 |
| 10 | Velo3D | 29 | -14 |
| 11 | Massivit | 24 | 0 |
| 12 | Aurora Labs | 21 | +2 |
| 13 | AML3D | 16 | -2 |
| 14 | Steakholder Foods | 10 | -1 |
| 15 | Freemelt | 11 | +3 |
| 16 | Shapeways | 8 | +1 |
| 17 | Sygnis | 4 | -0 |
| TOTAL | 3,658 | -383 |
This week saw pretty disastrous results for 3D printing companies. While the overall markets had mixed results this week, quite a few 3D print companies took substantial valuation discounts.
The most notable was perhaps Velo3D, which suffered a huge 33% drop in value this week. This is no doubt due to their announcement of a reverse stock split to maintain their presence on the stock exchange. The split was a 35 to 1, meaning a single stock was previously 35 stocks. When a company performs a reverse split, the market typically senses this negatively, and that seems to be the case here. The company’s valuation is now only US$29M, small enough for any of the big players to acquire them outright.
Another notable dropper this week was Desktop Metal, with a dip of almost 22% in value. The company also plans a reverse stock split for similar reasons, and the market acts in a similar manner.
Number two positioned Xometry fell almost 15%, similar to 3D Systems, which fell a similar amount. Nano Dimension fell eleven percent.
Comparing those last two with Stratays shows that Stratasys still leads Nano Dimension by US$76M, with 3D Systems by US$43M.
Australian metal 3D printer manufacturer Titomic fell by ten percent, but this is likely due to profit taking from their recent — and wholly unexplained — valuation bumps.
Upcoming Changes
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.
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.
