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
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This week saw a slight dip in the leaderboard total, less than one percent. That’s unusual, as the NASDAQ actually rose quite a bit during the week, and 3D companies tend to exaggerate market trends. Not so, this week.
By far the winner of the week was Xometry, which saw a rise in valuation of almost 29%. This jump was certainly a result of their very positive financial release, which indicated the company’s 26% Q1 revenue rise. In addition, their marketplace grew by 35%. In fact, all their numbers seemed to be on the good side of the ledger. However, Xometry is still in the red, posting a US$12M loss in Q1, slightly less bad than the previous Q1. Evidently the company needs to grow a bit more to achieve positive returns, but it appears investors are believing the message from Xometry, which jumped up to fourth place on the leaderboard.
Another winner was Markforged, which saw a rise in value of over twelve percent this week. The company posted increased revenues to the tune of 10% more than 22Q1, and maintained stable profit of around US$12M for the quarter. However, their gross margin dipped slightly, probably due to rising costs of basically everything these days. Investors therefore rewarded the company with a notable bump in valuation.
Shapeways also saw a healthy rise in valuation of almost twelve percent. However, they have not yet released their financials, which are to be published Monday night. It seems that investors are expecting good things, as this company’s valuation has risen for a couple of weeks now.
Top position on the leaderboard has been 3D Systems for quite some time now, but they suffered a ten percent drop in valuation this week. This was due to their financials, which showed a marked decrease in revenue (9%), quarter over quarter. Some of that decrease was apparently due to currency fluctuations, but still, a drop. 3D Systems accounts the drop to a “continued weakness in the dental orthodontics market”. It’s possible that there are less expensive competitors that are taking up some of the market, as we’ve seen multiple inexpensive dental solutions beginning to emerge. 3D Systems also posted a quarterly loss of US$29M, but confirmed their forecast of annual revenue for 2023 as between US$545-575M.
A company set to appear was 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.
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.
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.