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 a continued drop in the markets overall, and the 3D print companies followed that trend almost exactly to the percentage point. Normally these companies tend to exaggerate general movements, but this week was an exception.
There were several substantial moves this week, both positive and negative.
Xometry gained more ground — around nine percent — in their recovery plan, likely due to investment analysts noticed their previous announcement of Q2 financials, which were quite good. The company posted a 24% growth, and seems to be in the good books of investors once again.
Titomic gained significantly with a 16 point gain, likely on news they’ve secured additional contracts with military organizations. Those contracts certainly add confidence to the company’s plans.
FATHOM’s valuation cratered this week with close to a 40% drop in value after several weeks of steady gains. The cause? It was certainly the release of their Q2 earnings, which showed continued losses and significantly less revenue year-over-year. Those are not good signals, and this clearly affected investor sentiment.
A loss in value of over 24% was the fate of voxeljet this week, also due to their Q2 earnings statement. While they revealed some reasonable growth in revenue, they also reported decreases in margin, which must have spooked some investors, leading to the drop in valuation.
Shapeways dipped over 21% in value this week, with a similar combination of good revenue, but lowered margins. The company posted a larger loss than the previous year’s quarter, which didn’t look very positive.
Finally, we come to the three companies involved in the Stratays takeover. The repeated offers, rejections and negotiations have absolutely affected the stock prices of all three. What happened this week?
Stratasys, the subject of the takeover bids, was basically flat this week, in spite of a two percent drop expected from the general market. That’s good news for this week’s events. The company maintained and even stretched their lead position on the leaderboard, now sitting almost 20% larger than 3D Systems, their long time competitor.
3D Systems continued its downward trend that began when they launched their bids to acquire Stratasys. Last week they slipped below Stratasys in valuation, and this week the gap widened with 3D Systems losing almost nine percent in value. I continue to wonder why 3D Systems is buying Stratasys; should it not be the other way around?
And then there’s Nano Dimension, the company whose takeover bids began all this corporate maneuvering. This week they were stable at a zero percent change. This could mean that investors are now satisfied with the value of the company after their highly controversial strategy of acquiring Stratasys was abandoned.
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.