Unveiling the Biggest Player in the 3D Printing Landscape as of November 19, 2023

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.

Essentially, “market cap”, or market capitalization, plays a substantial role in the financial landscape.

While some may contest the necessity of weekly monitoring of these businesses, asserting that their actual value only comes to fruition upon selling their stocks, it’s crucial to remember that companies frequently experience occurrences which either boost or diminish their worth. This weekly write-up is designed to keep you informed about these developments.

We’d like to clarify that our compilation doesn’t encompass all major 3D printing companies. Not all companies in this sector are publicly traded, making it impossible to definitively establish their total size – EOS being a prime example. Furthermore, there are those such as HP or Siemens, who, despite operating extensive 3D printing divisions, are part of far more massive organisations, obscuring the full scale of their 3D printing operations.

Without further ado, let’s delve into this week’s breakdown of 3D printing companies.

3D Printing Leaderboard

This week saw a return to normal trends: the markets overall rose 2-3 percent, and the 3D companies exaggerated that trend by rising 4.5% on the week.

As usual, there were several significant deviations from the pattern.

3D Systems realized a sizable 15% growth over the past week. This leap can primarily be attributed to their latest financial reports. While the reports reveal a slight decrease in revenues, profit margins have significantly improved. This increase in margins might be a direct effect of the cost reduction initiatives that the company has been focusing on, which now reflect positively on their financial statements. There’s a noticeable shrink in their losses from a severe US$34M in 3Q22 to a milder US$14M in 3Q23. This shift couldn’t escape the investors’ attention leading to a surge in the company’s value. Despite this progress, profitability is still a milestone yet to be reached by many, including 3D Systems, in the 3D printing industry.

Xometry enjoyed almost 13% growth in valuation this week following the release of their financials that registered an impressive 15% revenue growth. Contrary to the trend with other companies, they posted significant profits, which are on the rise. Their top position on the leaderboard is, therefore, not a surprise.

Conversely, the most volatile standings on the leaderboard belong to Velo3D. Their valuation took a toll this week, nosediving by 29%. This is quite irregular considering their financials appeared solid. The company reports substantial revenue growth from 3Q22, and although there was a slight dip in profit margins, their quarterly losses were nothing compared to the 3Q22. They also managed to implement several cost management measures that are sure to impact their financials positively, with projections forecasting a decrease in expenses by an eye-catching 40% by 1Q24.

The reason for this plummet in their valuation is, frankly, beyond comprehension.

Markforged experienced a surge in value of over twelve percent this week. Despite the fact that their financial health seemed somewhat shaky with a decrease in revenue and margins, an increase in expenses and more than a twofold increase in net loss. The decision of investors to increase Markforged’s valuation while decreasing Velo3D’s is truly perplexing.

Upcoming Changes

A company that has started capturing my attention is ICON, a construction 3D printer manufacturer based in Texas. This privately-held firm has succeeded in amassing considerable investment nearing the half billion dollar mark. Given the level of their financial intake, it would appear likely that they will be looking into transitioning to the public markets in the foreseeable future, thus potentially placing them at the pinnacle of our leaderboard.

Another company that looks set to enter the public domain is VulcanForms, a advanced metal 3D printing process service in the manufacturing sector. They are presently privately assessed at upwards of US$1B, so going public could cause this evaluation to skyrocket further.

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.

Related Companies

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.

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