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
3D printing valuation leaderboard (in US$M) [Source: Fabbaloo]
This week saw healthy gains on most major exchanges to the tune of about one percent. This influenced the 3D print companies, causing the leaderboard to proceed upwards 3.5%. As usual, there were many ups and downs on the list. The pattern seems to reward companies with genuine profits and strong markets, while punishing companies that are capital-heavy, diluted, or those with needs for cash.
Xometry, one of the largest market caps in the industry, rose a huge 14% this week. While there were no specific announcements from the company, they do have an earnings release coming up soon. This upward move is likely optimistic investors believing there will be good news from the upcoming financials.
Velo3D fell more than 16% in an otherwise positive week for the industry. This is no doubt due to a US$50M underwritten registered direct offering by the company, which diluted company investors. Some 3.5M shares were sold, making existing shares worth less. The company gained US$50M in working cash, but at the cost of investor value. It does not degrade the value of their products or technology; this is simply stock arithmetic.
Materialise fell five percent after the scheduling of their earnings release. This could be the opposite of Xometry, where investors were leaning on the negative side, causing the dip in stock price.
AML3D fell about 18% this week, and it carries forward the same theme: their financials released recently were not obviously bad, but it seems that investors had priced in the results ahead of time like Xometry and Materialise, and this drop resets the value back to what it was previously due to profit taking.
Aurora Labs fell six percent this week. It may be due to a recent analysis that suggested the company had AU$3.6M in cash, but a burn rate of AU$4.2M, leading to a 10-month runway remaining. This may have spooked some investors, causing the drop in value.
Upcoming Changes
We’ve heard very little about companies intending to become publicly traded recently. This is due to the ongoing lack of investor interest in the technology. The technology’s reputation has suffered immensely in the investment community because of multiple large-scale investment failures in the past few years.
One change we are expecting is the addition of Creality, which recently filed documents to trade on the Hong Kong exchange.
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.
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