Home » Misc » 3D printer stock price

3D printer stock price


Top 3D Printing Stocks for Q4 2022

Table of Contents

Table of Contents

  • Best Value 3D Printing Stocks

  • Fastest Growing 3D Printing Stocks

  • 3D Printing Stocks With the Best Performance

SSYS is top for value and performance and NNDM is top for growth

By

Noah Bolton

Full Bio

Noah has about a year of freelance writing experience. He's worked on his investing website dealing with topics such as the stock market and financial advice for beginners.

Learn about our editorial policies

Updated October 06, 2022

The 3D printing industry is made up of companies that provide products and services capable of manufacturing a range of products. 3D printing, also known as additive manufacturing, creates physical objects from digital designs. The printing process works by laying down thin layers of material in the form of liquid or powdered plastic, metal, or cement, and then fusing the layers together. Though still too slow for mass production, it is a revolutionary technology that has the potential to disrupt the manufacturing logistics and inventory management industries. The 3D printing industry is comprised of only a handful of companies, including players such as Proto Labs Inc., Faro Technologies Inc., and Desktop Metal Inc.

The industry is so young that it has no meaningful benchmark index. But the performance of these stocks can be compared to the broader market as represented by the Russell 1000 Index. These stocks have not performed well. Stratasys Ltd. (SSYS), the best performing 3D printing stock, has dramatically underperformed the Russell 1000, which has provided a total return of -12.5% over the past 12 months. This market performance number and all statistics in the tables below are as of Sept. 20, 2022.

Here are the top three 3D printing stocks with the best value, fastest sales growth, and the best performance.

These are the 3D printing stocks with the lowest 12-month trailing price-to-sales (P/S) ratio. For companies in early stages of development or industries suffering from major shocks, this metric can be substituted as a rough measure of a business's value. A business with higher sales could eventually produce more profit when it achieves (or returns to) profitability. The price-to-sales ratio shows how much you're paying for the stock for each dollar of sales generated.

Best Value 3D Printing Stocks
  Price ($) Market Cap ($B) 12-Month Trailing P/S Ratio
Stratasys Ltd. (SSYS) 15.49 1.0 1.6
3D Systems Corp. (DDD) 9.00 1.2 2.0
Proto Labs Inc. (PRLB) 37.49 1.0 2.1

Source: YCharts

  • Stratasys Ltd.: Stratasys offers 3D printing solutions, such as 3D printers, polymer materials, a software ecosystem, and related parts. It serves a variety of industries, including aerospace, automotive, consumer products, and healthcare. On Sept. 13, Stratasys completed the merger of its MakerBot subsidiary with Ultimaker, which offers platforms used to make 3-D printers. Ultimaker is backed by NPM Capital. The merged company will keep the Ultimaker name and focus on providing solutions, hardware, software and materials to the industry. NPM Capital will have majority ownership of the new company at 53.5%, and Stratasys will own 46.5%.
  • 3D Systems Corp.: 3D Systems provides 3D printing solutions. The company offers a range of hardware, software, and materials designed for additive manufacturing. Its products and services are used in a variety of industries and sectors, including aerospace, automotive, semiconductor, healthcare, and more.
  • Proto Labs Inc.: Proto Labs is an e-commerce-based company that provides digital manufacturing services. It offers 3D printing, injection molding, CNC machining, and sheet metal fabrication. On Aug. 5, Proto Labs announced financial results for Q2 2022, the three-month period ending on June 30, 2022. Net income fell more than 80% to $2.6 million from the prior-year quarter while revenue rose 3.1%.

These are the 3D printing stocks with the highest YOY sales growth for the most recent quarter. Rising sales can help investors identify companies that are able to grow revenue organically or through other means and find growing companies that have not yet reached profitability. In addition, accounting factors that may not reflect the overall strength of the business can significantly influence earnings per share. However, sales growth can also be potentially misleading about the strength of a business, because growing sales on money-losing businesses can be harmful if the company has no plan to reach profitability.

Fastest Growing 3D Printing Stocks
  Price ($) Market Cap ($B) Revenue Growth (%)
Nano Dimension Ltd. (NNDM) 2.45 0.6 1,270
Desktop Metal Inc. (DM) 3.07 1.0 203.9
Stratasys Ltd. (SSYS) 15.49 1.0 13.3

Source: YCharts

  • Nano Dimension Ltd.: Nano Dimension is an Israel-based 3D printing company focused on developing equipment and software for 3D-printed electronics. It develops printers for multilayer printed circuit boards and nanotechnology-based inks. The company serves a range of industries, including consumer electronics, healthcare, aerospace, and automotive. On Sept. 1, Nano Dimension released Q2 2022 results. The company's net loss widened sharply to $40.0 million from a loss of $13.6 million in the same quarter a year earlier even as revenue soared more than 13-fold. The larger second-quarter loss was fueled partly by $10.9 million in non-cash adjustments for depreciation and amortization expenses, and share-based payments.
  • Desktop Metal Inc.: Desktop Metal manufactures 3D printers and related equipment used to build complex parts from metal. It also offers 3D printing software. The company serves a range of industries, including automotive, consumer products, education, and heavy industry. On Aug. 08, the company reported Q2 2022 results. Desktop Metals' net loss increase nearly seven-fold to $297.3 million compared to the same quarter a year earlier even as revenue tripled.
  • Stratasys Ltd.: See above for company description.

These are the 3D printing stocks that had the smallest declines in total return over the past 12 months out of the companies we looked at.

3D Printing Stocks With the Best Performance
  Price ($) Market Cap ($B) 12-Month Trailing Total Return (%)
Stratasys Ltd. (SSYS) 15.49 1.0 -34.5
Proto Labs Inc. (PRLB) 37.49 1.0 -50.6
Materialise NV (MTLS) 10.95 0.6 -53.9
Russell 1000 N/A N/A -12.5

Source: YCharts

  • Stratasys Ltd.: See above for company description.
  • Proto Labs Inc.: See above for company description.
  • Materialise NV: Materialise is a Belgium-based provider of additive manufacturing software and 3D printing services. It serves a range of industries, including healthcare, aerospace, and automotive. On Sept. 7, Materialise completed its acquisition of Identity3D, which makes products that encrypt, distribute, and track digital parts as they move through supply-chains. The value of the deal was not specified in the announcement.

The comments, opinions, and analyses expressed herein are for informational purposes only and should not be considered individual investment advice or recommendations to invest in any security or to adopt any investment strategy. Though we believe the information provided herein is reliable, we do not warrant its accuracy or completeness. The views and strategies described in our content may not be suitable for all investors. Because market and economic conditions are subject to rapid change, all comments, opinions, and analyses contained within our content are rendered as of the date of the posting and may change without notice. The material is not intended as a complete analysis of every material fact regarding any country, region, market, industry, investment, or strategy.

Article Sources

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

  1. YCharts. "Financial Data. "

  2. Stratasys Ltd. "Stratasys Completes Merger of MakerBot with Ultimaker."

  3. Proto Labs Inc. "Proto Labs Q2 2022 Earnings Release."

  4. Nano Dimension Ltd. "Earnings Press Release for Q2 2022."

  5. Desktop Metals Inc. " Desktop Metals Second Quarter 2022 Earnings."

  6. Materialise NV. "Materialise Acquires Indenity3D."

5 3D Printing Stocks to Consider in 2022

An in-depth look at the leading 3D printing stocks in the U.S stock market this year. Here’s what you need to know.

By Nicholas Rossolillo – Updated Jul 11, 2022 at 2:42PM

Back in the early 2010s, stocks were booming for 3D printing -- also known as additive manufacturing, a computer-controlled process in which three-dimensional objects are made. But the boom was followed by a bust as many pure-play 3D printing companies didn't immediately deliver on lofty expectations.

Rumors of the manufacturing technology's demise are clearly premature. These days, 3D printing is a high-growth niche that is steadily reshaping the manufacturing and industrial sectors. Some estimates point to a doubling in annual revenue from additive manufacturing between 2022 and 2026. Even growth investor Cathie Wood has launched a fund focused on manufacturing tech, The 3D Printing ETF (NYSEMKT:PRNT), via her company ARK Invest.

Here's what you need to know about 3D printing and additive manufacturing stocks for 2022:

Image source: Getty Images.

Investing in 3D printing stocks

The manufacturing of products in all corners of the economy is being revolutionized by 3D printing, from healthcare equipment to metal fabrication to housing construction. It's invading so many sectors that tech giants such as Microsoft (NASDAQ:MSFT), Autodesk (NASDAQ:ADSK), and HP (NYSE:HPQ) have launched products aimed at 3D printing and additive manufacturing. Other engineering and software outfits such as Dassault Systemes (OTC:DASTY), ANSYS (NASDAQ:ANSS), and Trimble (NASDAQ:TRMB) have also gotten involved in 3D printing technology.   

Here are five key players to consider for 2022 that are a more focused bet on 3D printing:

Data source: YCharts. Market cap as of April 19, 2022.  
Company Market Cap Description
Desktop Metal (NYSE:DM) $1.3 billion Recent IPO that focuses on metal fabrication technology.
Stratasys (NASDAQ:SSYS) $1.5 billion One of the original 3D printing pioneers, with a wide array of printers and supporting design software.
Xometry (NASDAQ:XMTR) $1.9 billion A manufacturing marketplace, including access to on-demand 3D printing services.
3D Systems (NYSE:DDD) $1.9 billion Another original 3D printing pioneer and the largest pure-play stock on 3D printing technology.
PTC (NASDAQ:PTC) $11.7 billion A manufacturing technology provider with a suite of software and related services for industrial businesses.

1. Desktop Metal

This company is a recent entry into the 3D printing space after going public via a SPAC at the end of 2020. The stock has been a terrible market underperformer since then, losing three-quarters of its value as of spring 2022. However, Desktop Metal could still be a promising investment for the long term.

As its name implies, Desktop Metal develops 3D printing hardware and accompanying design software for metal and carbon fiber parts. The company's smaller systems can handle prototyping and one-off parts, and larger printers are production grade-designed for manufacturing facilities. Desktop Metal serves companies operating in automotive, consumer goods, and heavy industrial equipment businesses.  

Despite a tenuous start as a public company, Desktop Metal was actually increasing revenue at a torrid triple-digit pace in 2021. Gross profit margins are thin, and the company generated a steep net loss, but that should improve over time as the business scales its operation. Desktop Metal also has several hundred million dollars in cash and investments to fund its expansion. It used some of these funds to acquire additive manufacturing peer ExOne at the end of 2021.  

2. Stratasys

Stratasys was part of the early 2010s 3D printing stock boom and bust, but its business has endured. Sales took a dip early in the COVID-19 pandemic but are rebounding as the Israel-based company picks up new manufacturing contracts.

Stratasys serves a diverse set of customers, including aerospace and automotive parts manufacturers, medical and dental companies, and makers of basic consumer products. In addition to a wide array of 3D printer models, Stratasys develops software to help users accelerate the time between design and final printing.  

It isn't the highest-growth name on this list, but Stratasys is profitable (on a free cash flow basis) and has more than $500 million in cash and investments on its balance sheet, as well as no debt. Management thinks its payoff from years of research and development into additive manufacturing will accelerate in 2022.

3. Xometry

This is another newcomer to public markets. Xometry completed its initial public offering (IPO) over the summer of 2021, raising almost $350 million in cash in the process. As is often the case with new IPOs, the stock has underperformed since then. It has lost over half of its value from the time it started trading on public markets, but the business itself is rapidly growing.

Xometry is a marketplace for on-demand manufacturing of prototyping and mass production. It has a network of more than 5,000 suppliers that companies can call on to meet their fabrication needs. Among the suppliers on the Xometry platform are 3D printing companies, injection molding, and automated machining. The company reported having more than 28,000 active buyers utilizing its platform at the end of 2021.

Although it isn't profitable yet, Xometry's unique approach to the 3D printing and additive manufacturing industry is growing fast. Like other names on this list, it has a sizable war chest of cash and short-term investments that it can spend on research and marketing as it tries to attract more suppliers and buyers to its marketplace.  

4. 3D Systems

3D Systems was another early player in the 3D printing industry, and while it suffered through the boom-and-bust period of the early 2010s, its business has held steady for much of the past decade. After a brief dip during the early days of the pandemic, 3D Systems is back in growth mode.  

The company develops printers and design software for all sorts of materials and industries (medical device makers, dental labs, semiconductor designers, aerospace, and automotive manufacturers). It claims leadership among independent 3D printing companies (as measured by sales). As the 3D printing industry expands in the coming years, 3D Systems thinks it will be able to attract lots of new business with its extensive experience and global reach.

As an established tech outfit in the manufacturing sector, 3D Systems offers investors the prospect of more stable growth, along with profitability. It also has a large net cash position from which it can consolidate its lead in 3D printers and software technology.

5. PTC

By far the largest company on this list, PTC is a longtime technology partner of manufacturing and industrial enterprises. Fast approaching $2 billion in annualized sales and highly profitable, PTC has all the tools needed to digitally transform industrial businesses.

Besides 3D printing computer-aided design software (ANSYS is a peer and software partner that also operates in this space), PTC specializes in augmented reality, industrial IoT (Internet of Things), and product life-cycle management software. Most of its revenue is subscription-based (including its Creo software that enables 3D printing), making for a stable and steadily growing business model that generates ample cash flow. PTC puts spare cash to work developing new products for its partners and makes bolt-on acquisitions of other software companies that enhance its overall portfolio.  

As a larger company, PTC won't be the fastest-growing stock in the additive manufacturing and 3D printing space. However, the company has established itself as a leader in industrial technology and should be a primary beneficiary as the production of manufactured goods gets more efficient.

The future of 3D printing

Manufacturing technology is making inroads throughout the global economy by reducing the cost of production and localizing and speeding up the time it takes to deliver customer orders. This is far from mere hype. Nevertheless, as is the case with all technology investments, progress won't go straight up. Expect twists and turns in these stocks as they develop new methods to design and make products.

If you decide to invest, do so in a measured way. Maintain a diversified portfolio, be wary of stocks benefiting from investor over-optimism, and always leave spare cash to invest more when there are inevitable dips. Given enough time -- years and decades -- investing in 3D printing could eventually provide a big payoff.

Related communication stocks topics

Investing in 5G Stocks

As the 5G technology rollout continues, these companies look like winners.

Investing in Top Telecommunications Stocks

Our world is increasingly interconnected, and these companies make it happen.

Investing in Communication Stocks

Communications has a broad definition. These companies are the leaders in the space.

Investing in Top Consumer Discretionary Stocks

When people have a little extra cash, they indulge in offerings from these companies.

Nicholas Rossolillo has positions in Autodesk and PTC. The Motley Fool has positions in and recommends Autodesk, HP, and Microsoft. The Motley Fool recommends 3D Systems, ANSYS, Dassault Systemes, PTC, and Trimble Inc. The Motley Fool has a disclosure policy.

Motley Fool Investing Philosophy

  1. #1 Buy 25+ Companies
  2. #2 Hold Stocks for 5+ Years
  3. #3 Add New Savings Regularly
  4. #4 Hold Through Market Volatility
  5. #5 Let Winners Run
  6. #6 Target Long-Term Returns

Why do we invest this way? Learn More

Related Articles

This Software Stock Crushed the Nasdaq by 31% in 2022: Here's Why It Has Room to Run

Got $2,000? Here Are 3 Smart Stocks to Buy Now

Best ETFs to Buy

Best Bonds to Invest in

Down Over 25% in 2022, This FAANG Stock Is a No-Brainer Investment

1 Green Flag for Microsoft Stock in 2022 and 1 Red Flag

What Is Liquidity?

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.

View Premium Services

How to calculate the cost of printing on a 3D printer

For some ideas, 3D printing is the fastest and easiest solution. In some situations, purchasing your own 3D printer can be a good solution, but sometimes it is much more profitable and faster to order the necessary product from a company specializing in 3D printing. Yes, and many owners of a 3D printer are thinking about how to “monetize” their hobby, but how to correctly calculate their costs?

Despite the fact that it is customary to indicate the price per gram of working material, simply multiplying the weight of the model by the cost of 1 gram will be wrong. In addition to the cost of consumables, many more, at first glance, non-obvious costs are added to the price of the product.

Each 3D printing technology uses its own consumables. Let's analyze the most popular and affordable of them.

Available technologies and key differences

Currently, a huge number of 3D devices have appeared, from small desktop ones that fit on the desktop to huge industrial machines. Among the most affordable, 2 technologies can be distinguished - FDM and photopolymer printers (LCD / DLP / SLA).

FDM 3D printing

Today, the most affordable 3D printing technology is FDM. A variety of materials and 3D printers allow FDM to be applied to a wide range of applications.


Schematic operation of FDM printer

A large selection makes it easy to choose a 3D printer for a specific task or find a universal device.

The material for printing is a plastic thread - filament. On the market you can find filament for various tasks, for every “taste” and budget. These can be very inexpensive ABS and PLA plastics or specific ones - conductive, burnable, etc.

Pros:

Cons:

Despite the fact that FDM allows you to print a wide range of plastics with different properties, the technology has some limitations. For example, it is impossible to obtain a perfectly smooth surface, to produce miniature and very thin elements, or to produce parts with very complex internal geometry with high accuracy.

Photopolymer printing

Photopolymer printers can work on one of 3 technologies - SLA, DLP or LCD. These devices will come to the rescue if you need to make a small but very detailed model with many small details.


How photopolymer printers work

As a consumable material, a photopolymer resin hardened by UV radiation is used. Now there is a wide variety of photopolymer resins for every taste. From particularly strong and precise engineering or jewelry resins to soft flexes.

Pros:

  • High print precision

  • Good surface quality

  • A wide variety of printers and consumables

Minuses:

Photopolymer printers have shown themselves well in a variety of industries that require a perfectly smooth surface and high accuracy. They are used in dentistry, the jewelry industry, for making miniature master models for casting, and much more.

Industrial printers

These are already industrial machines, which require a separate room and sometimes certain requirements for ventilation, etc. In this article, we will not analyze these devices in detail, but briefly consider the most popular technologies.

FDM

In addition to desktop devices using FDM technology, industrial printers that work on the same principle are common.

This category includes devices with a large print area (from 30x30x30 cm and more). For example, Raise Pro2 with a print area of ​​30x30x30 cm.


Raise Pro2

Or machines designed for printing with refractory materials (eg PEEK). Such 3D printers usually have an active thermal chamber, and the extruder can be heated above 400 degrees.


CreatBot F160-PEEK designed to work with refractory plastics

Photopolymer printers

Industrial photopolymer devices usually have a much larger working area, compared to their "home" brothers. In addition, many processes have been optimized and automated for faster operation. On such printers, you can quickly and accurately produce a small batch of models, a large prototype or a master model.


Prismlab Large Area Industrial Resin Printer Family

3DP

3DP - Three-Dimensional Printing (translated as three-dimensional printing) is a logical continuation of conventional two-dimensional printers. Printing is done using nozzles that selectively apply a binder to the material (usually gypsum). A dye can be added to the binder and the model will be colored.

Colored plaster model

Since the plaster model is fragile, a similar principle is used for printing with metals. Only the finished product needs to be treated in an oven to remove the binder and improve strength. But despite the processing, such metal prints will still be inferior in strength to cast products.

MJM

This is a proprietary technology of 3D Systems. MJM is a mix of FDM, 3DP and sometimes SLA (depending on material chosen). Printing is done using a variety of small nozzles (from 96 to 488) located on the head of the machine. The accuracy and quality of the surface of models made in this way is in no way inferior to photopolymer printers.


Models made with MJM technology

Such devices can work with photopolymer resins, wax or thermoplastics. You can combine several materials at once - for example, for complex models, you can use wax as a support.

SLM

SLM is the layer-by-layer sintering of metal powder using a powerful laser. There are several similar technologies - SHS/SLS. The principle of operation is the same, only a thermal print head is used instead of a laser beam.

SLM Turbine

As a material for printing, you can use powders of various metals - gold, stainless steel, aluminum, various alloys, etc.

During printing, the working chamber is filled with an inert gas to prevent oxidation of metals. This allows printing even with titanium powder.

Models made by this method are in no way inferior, and sometimes even superior, to cast products. SLM allows you to produce models with complex internal geometry that cannot be produced by another method (casting or milling).

Cost of 3D printing

The cost of a model usually consists of several factors.

  • Equipment depreciation. The printer, like any machine, requires maintenance and periodic replacement of some parts. During operation, belts gradually stretch, bushings or linear bearings wear out. For example, when bushings or linear bearings are worn; shafts may wear out and need to be replaced.

Cost of materials

The main cost item for a 3D printer is, of course, the printed material.;

FDM (plastic filament)

Since FDM technology is by far the most common, the choice of filaments is very diverse.

  • Engineering plastics are usually nylon with various fillers added to improve the physical characteristics of the finished model. Special cost. plastics starts from 2000r per coil and above. It all depends on the manufacturer and filler (carbon fiber, fiberglass, etc.).

  • Decorative plastics are used to imitate various materials. Plastic can simply be unusually colored (luminous, transparent plastics) or a special filler is added to it (plastics with metal powder). The cost of decorative plastics starts from 1500 rubles per coil and more, depending on the filler.

A big advantage of FDM is the diverse choice of materials to work with. This allows, having one printer, to produce almost any product - from a child's toy to a complex engineering prototype.

Photopolymers (resin)

Photopolymer resin printing technology is becoming more and more accessible. There are many different resins.

  • The cost of ordinary colored resin starts from 2500 rubles per 0.5 kg (volume +/- 0.5 l). You can find a smaller volume of resin (250 gr) on sale. You can buy several different resins in small containers and find out in practice which one is best for a particular model.

  • Engineering resins are resins with increased strength. They can be used not only for printing decorative items, but also for making functional prototypes and models. The cost for 0.5 kg starts from 5900r and above.

  • Special resins - burnable, dental, soft flexes, etc. Depending on the resin, the price for 0.5 kg can start from 4800 rubles and more. It all depends on the characteristics of the resin.

Photopolymer resins have not yet reached such a variety as FDM filaments, but they are surely catching up. Although due to the fact that a liter of resin costs significantly more than a spool of filament, the cost of the product is much higher.

Print examples

FDM

Mag Pull (quick release loop) for G3 magazines.

The model was downloaded for free from an open source (the file can be downloaded here). Printing with engineering carbon-filled plastic (price per spool from 4700 rubles). The weight of the model with support is about 25 grams. Post-processing was not needed. The cost of the finished model is 250 rubles.


Plastic fastener

The file was downloaded from an open source (can be downloaded here). Plastic - carbon-filled nylon (price per coil from 4700r). The weight of the finished product is about 20 grams. Print without post-processing. The total cost is 200 rubles.



Model watch

The model is modeled to order (the cost of modeling is from 1000 rubles). The product is printed on an industrial printer using soluble support. Print without post-processing. The cost of the finished product - from 700 rubles per piece (depends on the number of required products).


Traction prosthesis

The model is taken from an open source (you can download the modified version of the prosthesis here). The weight of the used material is about 600 gr, printed with ABS plastic (the cost of the coil is from 800 r). After printing, post-processing and assembly took place. The total cost of the product - from 3000 r (depends on the print material, support material, filling, etc.).


Pedal layout

Production of a 3D model according to the drawing (from 1000 r). The weight of the finished model is about 200 gr. The product was printed with engineering carbon-filled plastic (the cost of the coil is from 4700 r). Post-processing was not needed. The cost of the finished product is about 3000 rubles.

Photopolymer printers

Model jaws for crowns

Files for printing were obtained using a 3D scanner and finalized in a 3D editor (the cost of scanning is from 3000 r, the cost of manual revision is from 1000 r). Printing on an industrial photopolymer printer. Post-processing is not needed. The cost of the finished product is from 80 r per gram.


Burnout resin rings

The model is made to order. Printing on a desktop SLA printer with a burnable polymer. Post-processing is not needed. The cost of the finished product is 200 rubles per product.


Miniatures

The models were bought on the myminifactory website (the cost of the model is from $2). Made with a desktop DLP printer. Post-processing was not required. The cost of the finished figurine is from 70 r per gram.

Custom 3D printing

Many owners of 3D printers are thinking about monetizing their hobby. But you should understand that the price of 3D printing “for yourself” and the price of commercial printing are very different.

When starting to print to order, it is better to have several printers working on different technologies.

Cost of commercial 3D printing

In addition to the cost of the model, to the commercial production of products, you can add:

  • Modeling. Often the client needs not only to make a part, but to pre-model it. It can be a simple cogwheel that doesn't take long to model, or it can be a complex sculpture that takes more time to model than it does to make.

  • Model post-processing. This can be simply the removal of supports, with cleaning of the place of their contact with the product, or a complete processing cycle (puttying, surface grinding, painting, etc.).

It should be borne in mind that it is not always possible to print the model the first time. Sometimes it may take several attempts. And these are additional costs.

What is unprofitable to print

Despite the wide possibilities of 3D printing, there are models that are unprofitable to make on a 3D printer. For such models, it is better to use other manufacturing methods.

Commercial print examples

Jewelry for further casting


Manufacture of promotional items and souvenirs


Piece miniatures or master model for further casting


3D printed model

Profitable to print on a 3D printer:

  • If the item is only sold as an assembly. For example, a small gear broke in the mechanism, but the mechanism is sold only “assembly”. It is much cheaper to make the desired gear on a 3D printer than to buy the entire mechanism.

  • A small batch of parts. Small batches, especially models with complex geometry, are more profitable to produce on a 3D printer than by casting or other methods.

Totals

If you need several models or a small project, sometimes it will be more expedient to outsource manufacturing. After all, in addition to buying equipment and materials, you will have to understand the nuances of the settings and the characteristics of various materials.

Buying a 3D printer for commercial use is justified if you can fully load it with work or then it can be used for other purposes.

To print to order, you need to have several printers working on different technologies. It is better to get several devices with a smaller print area than to buy just one printer, albeit with a large working area.

3D printing market. Is it time to buy shares? / Habr

In this article I would like to talk about companies, each of which is a "unicorn". Shares of two of the three can already be bought on the New York Stock Exchange. There is a pattern: they were all born in the large Boston metropolitan area. And if Silicon Valley is a Mecca for software startups, then Boston, and especially the Massachusetts Institute of Technology (MIT), is the Medina for manufacturing innovation.

I'll make it clear right away: I won't analyze the entire 3D printing market, but will focus on some of the most notable representatives of the desktop 3D printing segment. But even here everything is very conditional, since in the process of improving technology, products smoothly flow from one category to another, and roughly three main categories can be distinguished: desktop, professional and industrial. So…

In 2011, three American students founded Formlabs in their garage. It was headed by Max Lobowski. Born into a family of engineers - emigrants from Ukraine, from his youth he was interested in robotics and new technologies, attended various specialized additional classes in high school. After earning a bachelor's degree from Cornell University, he went on to graduate school at MIT, where he began designing his desktop 3D printer, which is both powerful and affordable.

Max Lobowski

The friends were able to quickly get an angel investment, with which they launched their first product, the Formlabs Form 1 printer, in 2013. On the Kickstarter crowdfunding platform, they managed to raise almost $ 3 million from more than 2,000 bakers from around the world, who were excited about the new product, which promised to make 3D printing accessible to almost everyone. At that time, there were models of printers on the market using the technology of illumination with a laser beam of photopolymer resin (SLA) with a price of 100 thousand dollars, Formlabs offered a printer for 1500 dollars. The company, of course, faced a lot of difficulties in the production of the first batch, but it managed to ship the printers to all buyers. And even though they were far from perfect, this made it possible to attract round A investments in the amount of 19million dollars and return the "angel" money.

The company then continued to improve its product and create an ecosystem like Apple, which includes 3D printers themselves, consumables (resins for various tasks), software for preparing models for printing, and post-processing equipment. In 2019, the company's turnover reached $100 million, in May 2021 it received $150 million in a round of E from the SoftBank Investment Advisers fund, valuing the company at $2 billion. After that, there was talk of an IPO, which would be an absolutely logical step, since investment funds are planning this in the future for 7-10 years, and this period has already come for investors of the first round.

However, despite high market expectations, Max Lobowski said in an interview with BizJournals that he is in no rush to go public: “We would rather take our time and better prepare to be a great public company… We make more money than all 3D -companies taken together that have gone public with the help of SPAC (a procedure that allows startups to go public by merging with another private company). However, when I look at really large, successful, long-term public projects, which is what we are aiming for, I see that they are on a completely different level in terms of predictability and profitability than we are. ” These are serious words, and apparently the head of the company has reason to pronounce them. Most likely, the forecast of the company's capitalization in the region of 4-6 billion dollars with a successful initial offering, which will make it the largest company in the market, because even the result of the veteran and long-term market leader - 3DSystems as of August 2021 is no more than 3.5 billion. dollars.

Unlike the students at Formlabs, Markforged was founded by older guys. However, even here it was not without MIT. MIT alumnus Mark Greg encountered 3D printing while his company was doing a job for the US Navy. Experiments in the field of improving the quality of products led him to the idea of ​​​​creating a printer that could reinforce the printed model with carbon fiber to make it strong and suitable for use under load.

Employees of the company together with the Metal X printer, Mark Greg is seated to the right of the printer.

The company was founded in 2013, and already in 2014 at the Solidworks World exhibition, the startup presented its first product - the Mark One printer, which had two extruders and could reinforce the printed model with nylon, fiberglass and even Kevlar. Later, The Digital Forge, a cloud-based print management platform, was introduced, and already in 2017, MarkForged announced the release of a Metal X desktop metal 3D printer worth $100,000, while competitors' counterparts cost a million. In 2020, the company's turnover amounted to $ 70 million, and the management decided to bring the company to an IPO using SPAC. The company introduced the concept of additive manufacturing 2.0 to potential investors, allowing the production of finished products rather than prototypes, paving the way for 3D printing to the production of goods. The volume of this market is estimated by experts at 13 trillion dollars.

Based on the Wholers Report, in 2020 the company predicted the growth of the additive technologies market at an average rate of 27%, which means that in the next 8 years from the current 18 billion dollars, the market will grow to 118 billion in 2029 from 10 multiple growth of own revenue up to 700 million dollars already in 2025.

On July 15, 2021, MarkForged was listed on the New York Stock Exchange under the ticker MKFG. The placement was estimated at 2 billion dollars, but a month later the shares lost a little in price, and the current capitalization is about 1.5 billion dollars. The question remains: is it worth buying shares of a company that plans to be unprofitable for at least another 2 years (the company predicts a turnover of about $100 million this year).

On the one hand, there are enough companies on the market trading at even higher multiples, and on the other hand, 3D printing is not yet such a mature technology that one can be sure of the 100% success of exactly the concept that MarkForged offers. In fact, the company itself considers the emergence of new technologies as one of the risks that could undermine its current technological superiority. In general, investors are now positive about the future of 3D printing. They were impressed by how the technology performed in the first, most difficult months of the pandemic, when production chains were disrupted and many transport arteries stopped working. With the help of 3D printing, it was quickly possible to establish the production of urgently needed valves for ventilation, protective masks, adapters and much more. The concept of distributed production immediately turned from a beautiful idea into a real necessity. So, as always, the coin has two sides, but if you are interested in stocks with great potential, you should at least take a closer look at this company and the market of additive technologies in general.

The last one in my story is DeskTop Metal. Formlabs was created by MIT students, Markforged - MIT graduates, DeskTop Metal was created by experienced entrepreneurs Rick Fulop and Johan Mayerberg, as well as 4 (!) MIT professors. Going to the goal, Rick Fulop founded 6 different companies, also headed an investment fund. Johan Maierberg has been a lead engineer for various companies and became the CTO of DeskTop Metal.

Rick Fulop in front of DeskTop Metal Studio System 9 printers0002 The company's goal was to create an affordable desktop 3D printer that prints metal models. The company immediately became a favorite among investors and attracted investment rounds with enviable constancy. Among her donors were BMW, Ford Motor, Stratasys (a pioneer in the creation of 3D printing technology), SaudiAramco investment fund, General Electric and others. The total valuation in the latest round reached $2.4 billion, with a paltry $26 million turnover in 2019. The funds received were used for R&D and attracting the best engineers and developers to the company. In 2017, a three-component metal printing system based on FDM layer-by-layer printing technology was introduced, followed by burning and baking the final model. The system was very "raw": a small amount of materials was available for printing, and the printing itself had a lot of restrictions, the final products looked rough with large dimensional errors. Nevertheless, the developments continued, and the company announced its potential star - the Production System, a high-speed metal printing system, which can hardly be called a desktop one. The company claims that its Single Pass Jetting technology is 100 times faster than any other existing metal 3D printing technology, but deliveries of printers should begin only at the end of this year, so in this case you have to take our word for it.

The company entered the IPO on December 10, 2020 under the same SPAC scheme and in its presentation for potential investors outlined the following parameters: planned turnover in 2025 - 942 million dollars, reaching operating profit in 2023, and also indicated that , which plans to spend a significant portion of the proceeds on acquisitions of other 3D printing companies.

Capitalization on the New York Stock Exchange at the time of its IPO on December 10 was a fantastic $6 billion. During the placement, $580 million was raised and the company was assigned the laconic ticker DM. Already in February 2021, the shares rose even more, and the company's capitalization exceeded $8 billion. DM has said it will be the first company in 3D printing history to have a capitalization of over $10 billion. Having received huge funds at its disposal, already in January 2021, DM announced the first takeover deal: the German manufacturer of professional photopolymer 3D printers EnvisionTEC (founded in 2002 and is one of the oldest on the market) was bought for $ 300 million. For me, this choice was not obvious, it is difficult to find something in common between DM and EnvisionTEC and it will be difficult to achieve a significant synergistic effect from this transaction. EnvisionTEC has continued to operate under its own brand as a 100% subsidiary of DM and plans to release a number of new models for its key customers - dental clinics and jewelry companies. Also during this year, several small companies specializing in the production of materials and software were bought. DM expands its patent base due to this and gathers under its wing the best ideas and people. The most high-profile acquisition was the $575 million purchase announced in August of another public company, the American ExOne. Established in 2005 in Pittsburgh, it specializes in the production of industrial 3D printers for creating injection molds from sand and other materials. It is also noteworthy that she managed to commercialize a patent for this technology, issued by MIT back in 1993 year. In this case, we can say that the product lines of DM and ExOne are closer to each other and they have already presented a joint portfolio based on the products of both companies, in which one product complements the other.

It would be logical to assume that DM stock skyrocketed after such high-profile acquisitions, but in reality the opposite happened. Since its peak in February, the shares have fallen 4 times and are now trading at $8 a share, and the capitalization is slightly over $2 billion. Apparently, the first euphoria of investors gave way to a more sober approach to the current results of the company. Perhaps this was influenced by the dissatisfaction of some ExOne shareholders, who considered the sale price of the company unfair and were preparing a class action lawsuit against management in order to block the deal.

Should I buy DM stock now that it has fallen so much, or wait for further decline? I would say that their current level is very comfortable for entry, but, of course, such investments also have a certain risk. This is despite the fact that the company has reported strong first half results, which DM expects to generate over $100 million in revenue this year.

Summing up, I would like to say that a number of stock analysts consider what is happening in the market of additive technologies to be a "renaissance". The market came into motion after the pandemic, which gave everyone hope that the technology was ripe for serious tasks, and that the situation in the industry of 2013-2014 would not repeat itself. Then the technique was still very "raw", but attracted a lot of attention from the press and potential investors. This drove the stocks of market leaders 3DSystems and Stratasys to unknown heights, and then, when there was disappointment in the results of their work, the fall reached 20 times from peak values.

Learn more