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 a relatively stable result after several weeks of downward valuations, in spite of an ongoing pandemic, economic turmoil and now a new war in Europe. Our leaderboard’s total value rose by less than a percent over last week.
There could be some interesting signaling going on here. While the major market indices were generally down, the 3D print companies overall held their value. Could this mean there is increased interest in additive technology created by current conditions?
I could imagine some view the use of 3D printing tech in aerospace as an area that might increase in use, given the West’s sudden turn to stock up on military equipment. That equipment has increasingly used advanced parts made using AM, and I suspect some investors understand this.
There were a couple of movers on the leaderboard this week, in spite of the general stability. Xometry lost US$200M in value over the week, causing them to slide down to second place and leaving 3D Systems at the top. It is again unclear why Xometry lost this value, which is about ten percent of their former value. The company has yet to announce their quarterly and annual results, which they plan to do next week. This company’s value has been bouncing around lately, and it is most likely due to investors shifting positions as they mull over speculation of Xometry’s earnings.
The other notable move was from Desktop Metal, which rose nine percent over last week. While this wasn’t quite enough to push them into fifth place, it’s a very good outcome. The reason for this push is their financial results, released March 8th, were quite good.
Desktop Metal’s 4Q revenue increased 123% over 4Q2020, although some of that was due to the acquisition of ExOne and that company’s revenue. Even so, the non-ExOne portion gained a 62% increase in revenue. Their total revenue for 2021 increased a massive 583% over 2020, reaching US$112.4M, with a substantial portion being organic growth.
Their projection for 2022 suggest additional revenue increases to total US$220M, and this has likely attracted more investors, driving up their value.
One company that saw a near 14% rise in value was voxeljet. This company, which produces sand casting 3D printing gear and a very intriguing new HSS polymer system, has seen their value slowly fall from a high in February 2021 to today, but with this bounce they may have leveled out. We will find out more when they release their latest financial results.
We are still awaiting the appearance on the market of one more 3D print company: Fast Radius, a digital manufacturing cloud service that announced their intention to go public.
Another company set to appear in early 2022 is 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.
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, Formlabs and SLM Solutions.
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.