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 pretty bad results across the markets, almost all due to general market conditions. Concerns regarding inflation, consequent government & money management actions, rising prices and of course, the war in Ukraine, all depressed company values considerably this week.
The 3D printing companies were no exception.
Our leaderboard in total lost nearly ten percent in value over the week, with over US$1B in lost market capitalization.
While most of the tracked companies suffered losses, some had more than others. And there were a couple of winners.
The losing side was led by Sigma Labs, which offers a subscription-based PrintRite3D quality control service for additive manufacturers, whose value plummeted by almost 32%. The drop was likely due to their financial results, which were released this week. In the results, they noted their quarterly revenue dropped basically 90% from last year, a shocking amount. However, they explained that the revenue change was due to their switch to a subscription model, and thus clients are not paying large one-time fees anymore. Nevertheless, it seems the market saw the revenue change and acted.
Another big drop was suffered by Shapeways, whose value fell 25% over the week. Unlike Sigma Labs, Shapeways has yet to announce their quarterly financial results. Yet it seems the market feels the space Shapeways operates within may be vulnerable, thus the huge drop in value. The company’s market capitalization is now only US$93M, whereas last fall they saw highs as much as US$564M. The market has not been kind to Shapeways.
Velo3D again lost value, this week almost 25%. The maker of powerful metal 3D printers has been unexplainably losing value consistently for several weeks. This week’s valuation was US$643, while only a month ago their valuation was US$1874, almost 3X higher, and they were in second place on the leaderboard. This week they ae in ninth position.
The winner of the week is AML3D, a small Australian 3D printing startup that manufactures metal 3D printers. Their value rose by an incredible 29% this week, no doubt due to their latest financial news that saw their reported revenue rise by 200%. While they are still a growing company, this news was apparently sufficient for their value to tick upwards strongly. However, they are among the smallest companies we track, so it’s somewhat easier for the valuations to swing by large amounts.
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.