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
|20||Sigma Additive Solutions||11||0|
While this week was almost completely flat overall, there were several very notable shifts by individual companies on the leaderboard.
The most notable shift was by SLM Systems, which had their value rise by an amazing 72%. The cause for this dramatic rise was a buyout offer from optical manufacturing giant Nikon, which hopes to gain entry into the future lucrative additive manufacturing market. Their offer of 75% over the Sept. 1st closing price boosted the stock by exactly that amount. We’ll have some thoughts on this blockbuster acquisition and its implications on the AM industry in a forthcoming post.
SLM Solutions was not the only company with a greater than 50% gain this week. The other gainer was Massivit, which rose 66% in value over the week. The rise was no doubt a (delayed again) investor reaction to the company’s financial results, which were distributed on August 18th. In the results, Massivit explained they sold ten of their huge systems to industry, causing revenues to rise 36%, while increasing their gross margin from 44% to 50%. Those are significant results, and when combined with the company’s powerful new Cast In Motion (CIM) technology, certainly explains the new investor interest.
Leaderboard topper Xometry rose over 13%, yielding the biggest absolute gain in value this week of any companies we track. The rise is due to a delayed investor reaction to the company’s stellar financial results released August 10th, combined with their ongoing series of small functional improvements, each of which is designed to lower the friction to use their services.
On the other side of the ledger, Nano Dimension dropped almost 14% in value, as a near-instantaneous reaction to slowing sales. These were attributed to European manufacturers delaying purchases due to complications with the Russia situation.
Desktop Metal also suffered a loss in value of ten percent, likely due to investors taking profits after the recent rise in the company’s value. That was caused by outstanding financial results released earlier last month.
Finally, we’ve added a new entry to the leaderboard: Titomic. The Australian operation is a publicly traded company that manufacturers AM equipment using a unique spray technology. We’ll have more analysis of their 3D printing process and products in a future post, so watch for that.
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.
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.