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 down week for basically everyone. The markets in general were down one to three percent, meaning our tech-heavy 3D print leaderboard companies would be down even more, and they were. In all, the leaderboard total dipped by a whopping eight and a half percent.
The single notable rise this week was from FATHOM, the growing manufacturing service that makes considerable use of 3D printing technology. Their value rose almost 25% this week, even more impressive during such a negative overall session. Of course, there was no particular news from the company, aside from an announcement they will release their Q2 financial results on August 14th.
I suppose that’s enough to get investors energized about the company? On the other hand, FATHOM was at one point 75% from their spring valuation, but is now recovering. They’re about half-way back.
Xometry dropped 18% this week on no news at all. This company’s valuation has been a bit volatile. It had long been at the top of our leaderboard, with a massive valuation that has since dissipated. Similar to FATHOM, they dipped in the spring quite markedly, and are on the way back up. However, “up” means “ups and downs but mostly ups”. This week was a down.
Protolabs actually did release their Q2 results, and they did show a slight decrease in revenue, which is never good. However, there were several bright spots, including the fact that their Hubs line of business (formerly 3D Hubs) grew almost 80% year over year. They also purchased US$9M in stock back to the company, lowering their cash but tightening up the quantity of shares. Regardless of all that, investors decided to punish Protolabs with almost a seven percent drop this week.
Now the main event: what happened to the four companies involved in the Stratasys takeover saga? The saga appears to be converging on a 3D Systems takeover, but nothing was announced as of market close on Friday.
Stratasys: Remains at the top of the leaderboard based on recent gains. Lost almost 12% in value this week, likely from eager investors cashing out after the sudden rise.
3D Systems: In second place, and lost just over seven percent in value this week.
Desktop Metal: Dropped 1.7% this week, which was pretty decent considering the overall market. They seem destined to receive a big payout should 3D Systems complete the merger with Stratasys.
Nano Dimension: The company that triggered the entire takeover saga this past week officially walked away from the Stratasys situation forever. They dropped in value a whopping 14% this week, as investors likely see a strategy vacuum at the company after the Stratasys takeover seems to be over for them.
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.