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.
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 first take a look at the major 3D printing companies on this week’s list. I consider these companies “major” because their market valuations are significantly larger than others in the space.
This week saw some big changes, with the addition of not one, but TWO new major players to our leaderboard. After months of waiting, both Shapeways and VELO3D have now appeared on the NYSE and have begun trading.
As anticipated, VELO3D has taken a high-level position on the leaderboard with an initial valuation of US$1.65B. This was anticipated in advance by investors based on the structure of the deal with the SPAC used to quickly insert the company onto the NYSE. No initial surprises, but the company’s stock did rise throughout the day and after hours trading on Friday saw even more gains.
While VELO3D now occupies fifth position on our leaderboard, it would not take much of a change in their stock price to push them to third place, behind leaders 3D Systems and Xometry. However, as we’ve seen with other new market entrants, VELO3D’s valuation could be in for some volatility while investors struggle to find a stable level for the company.
The second addition to the major players leaderboard is Shapeways, the New York-based 3D print service that is one of the original 3D print ventures from many years ago. While they are not nearly as large as VELO3D in valuation, their US$426M valuation is sufficient to place them in twelfth position on the leaderboard.
Like VELO3D, Shapeways’ valuation will likely undergo volatility over the next period as investors battle each other over pricing.
However, it may be that Shapeways does rise significantly, as they’ve been gradually shifting towards a more industrial and professional user base. This is far from their original market of consumers without equipment looking for small quantities of 3D prints. That is certainly a good strategy because others in that market segment, Protolabs and Xometry, occupy much higher positions on the leaderboard.
As for the others on the leaderboard, it was generally a down week for valuations. All companies took losses in value between two to ten percent, but Markforged suffered a 17% loss in value and retained eighth position only because Materialise took an eight percent loss.
Stratasys vaulted above Nano Dimension for sixth place, mostly because they managed to remain flat over the week. This is most likely due to that company’s announcement of a new security system that will open up many more possibilities for government sales.
|ARC Group WW
The lesser valued companies tend to have much smaller shifts in their market capitalization because there is far less trading occurring on their stocks. The big money tends to hover around the larger players.
This week saw typically huge gains and losses in these smaller-cap players. Shifts ranged from a 17% loss by Tinkerine to a near ten percent gain by ARC Group WW.
In spite of the volatile changes this week, none of the minor players changed in rank. That won’t be true in the future, however.
Note that we are unable to obtain Massivit’s market cap value, as it does not seem to be published, even though they are a publicly traded company on the Tel Aviv Stock Exchange.
With the addition of Shapeways and VELO3D to our major players list, there are only two others known to be pursuing an IPO or SPAC.
One is FATHOM, which has been developing a SPAC (Special Purpose Acquisition Company) maneuver to complete later this year. The other is Fast Radius, a manufacturing service using 3D printing technology.
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 now 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.