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 generally good results overall. The leaderboard’s total rose by over five percent, which is quite healthy, and many companies were near that mark, plus or minus a percent or two.
As usual, there were some exceptions.
One was Materialise, which saw a drop of over two percent this week. This is a deviation of about seven percent from the group overall, so I decided to investigate. It turns out that the company announced their third quarter results on Thursday, and they were quite reasonable. They saw a significant 11.7% rise in revenue, but net profits were down substantially.
However, that financial news was not really the cause for their drop on the leaderboard. Instead it just happened that Materialise’s stock price bumped up last week unexpectedly — and only for a day. The mathematical result was officially a drop, but in fact the stock has been reasonably stable this week aside from that bump last week.
Velo3D was one of the big winners this week, with a spectacular rise of almost 17% in value. As usual, however, there was no particular news associated with this gain. The company is set to announce their official financial results in ten days, so we’ll have to wait until then. In the meantime, it appears that speculators are bouncing this company’s valuation up and down in advance of the announcement. Velo3D is indeed a solid company, and each week I shake my head at the volatility of its valuation.
Markforged also saw a significant rise in value to the tune of about 15% over the week. Again, now announcements from the company other than they set a date for their third quarter financials announcement. That alone seems to have triggered investors, who apparently expect good news from the company.
Swedish company Freemelt saw a dramatic rise of over 20% apparently on news they intend to announce a new industrial 3D printer next month, the “eMELT”.
On the other side of the ledger, Fast Radius, a cloud manufacturing service, suffered a massive 27% drop in value this week. While there was no specific news driving this shift, it’s actually just a long term continuation of value reduction for the company. They became a public company back in January with a price of US$10, but the stock price has been cruising downward ever since, this week closing at an abysmal US$0.29. That represents something like a 97% loss of value over that period.
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.