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
|Sigma Additive Solutions
This week saw a healthy 2.4% rise in the leaderboard total. This carried the usual pattern of exaggerating the general markets, although for some reason the NASDAQ rose five percent. Somehow the 3D print companies didn’t follow that part of the script.
There were several notable jumps this week.
The biggest by far was from FATHOM, a large manufacturing service using quite a bit of 3D printing gear. They rose almost 32% in value this week. An examination of their financials released this week shows their figures for the first quarter were basically all down from 2022Q1. However, the company is in the midst of a US$20M consolidation plan to reduce expenses. They reported similar gross profit, even though revenues were down, suggesting the that expense management program is working. This, no doubt, caused the rise in the value this week.
Materialise saw a rise of almost nine percent in value this week, in spite of no significant announcements. It may be that investors are beginning to notice their quite good financials released a couple of weeks ago, which saw revenues for Q1 increase a massive 24%. That’s definitely something that could increase the value of the company, and apparently it did this week.
Stratasys also jumped nearly nine percent as well, likely driven by their first quarter financials published this week. The company saw revenues dip slightly, which is unsurprising given current market conditions. However, they also saw margins increase, suggesting they are running the company more efficiently. Even better, they forecast further increases to margins by the end of the year.
Apparently that was more than enough to boost the company’s valuation. Stratasys is now in second place on the leaderboard, a mere US$50M behind leader 3D Systems. The increase also makes the company even more expensive to acquire. That’s one of the reasons we haven’t heard more from Nano Dimension, the company that last month attempted to purchase Stratasys.
By the way, Nano Dimension continued to drop in value this week by nearly three percent. The company’s valuation has been generally sliding downwards since they launched their unsolicited takeover bid, which now seems to be abandoned.
On the other side, Polish company Sygnis suffered a significant valuation loss of around 23%. This is certainly a result of their recent financial statements, which indicate a severe drop in revenues over last year, and a corresponding drop in profit, which actually turned into a loss for the quarter.
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.