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
| RANK | COMPANY | CAP | CHG |
| 1 | Xometry | $5,211 | -1156 |
| 2 | Farsoon | $3,759 | -694 |
| 3 | Bright Laser | $3,347 | -422 |
| 4 | Shining 3D | $2,459 | 0 |
| 5 | Proto Labs | $2,049 | -196 |
| 6 | Creality | $1,487 | -138 |
| 7 | Stratasys | $611 | -92 |
| 8 | Materialise | $473 | -36 |
| 9 | 3D Systems | $459 | -103 |
| 10 | Velo3D | $218 | -60 |
| 11 | Titomic | $142 | +17 |
| 12 | 6K Additive | $82 | -10 |
| 13 | AML3D | $45 | -0 |
| 14 | Aurora Labs | $19 | +0 |
| 15 | Massivit | $11 | -0 |
| 16 | Sygnis | $7 | +0 |
| 17 | Freemelt | $7 | +2 |
| 18 | Steakholder Foods | $1 | -0 |
| TOTAL | $20,389 | -3215 |
This week saw pretty catastrophic results on most major markets. The NASDAQ, for example, fell more than four percentage points. After seeing that, and knowing that the 3D print companies tend to exaggerate trends, I feared the worst.
And in fact, the leaderboard was down significantly.
At the top, Xometry lost over 18% in value this week, more than US$1.1B — that’s more than the value of most of the companies on the leaderboard. Most of the drop occurred on Wednesday, when it fell by more than ten percent. More selling occurred later. What’s happening? It seems that the decline coincided with a major reassessment of high-growth technology valuation by investors. Xometry was riding high based on their AI tech, and AI investments seem to be under reassessment. Proto Labs also fell nine percent this week for likely the same reasons.
In China, things were not great either. Farsoon fell 16%, and Bright Laser fell eleven percent. It seems that Chinese investors are continuing to reverse the earlier speculative enthusiasm for Chinese aerospace and advanced-manufacturing equities. Both companies have performed worse than the STAR 50 index, so that might have something to do with their ongoing devaluations.
Both 3D Systems and Stratasys fell this week, 18 and 13 percent respectively. Again, there was no particular announcement to trigger this week’s declines, so it is all about investor sentiment. It seems that the traditional 3D printer manufacturer business model, as practiced by these two long term players, may not be viewed as favourably by investors. On the other hand, everything was down, and perhaps these two just got caught up in it.
One company that actually rose this week was Titomic, which jumped up 13%. That is probably due to several announcements from the company about new contracts. They also announced some restructuring that was to save a few million annually. That appeared to be enough for investors to push their valuation up.
Velo3D, the most volatile valuation on the leaderboard, fell a sizzling 22% this week. That is in spite of the announcement that they have growth Q3 revenue by around 50%, year over year. It seems that investors remain unconvinced that this growth will turn into profits, hence the decline.
The leaderboard dropped significantly this week, as you can imagine from all the carnage mentioned above. However, there’s another reason for the drop: we removed Nano Dimension from the leaderboard. The company, after multiple rounds of corporate turmoil, has detached from the 3D print industry and intends on pursuing other technologies. There was a chance they resumed in 3D printing, but evidently it’s now clear that is not likely to happen. So, they are off the list, taking US$297M with them.
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.
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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