Shapeways Holdings Inc. Warrants (SHPWW)

Shapeways Holdings Inc. Warrants Overview:

Note: This information is based on data as of November 21, 2023. Please be aware that this is not financial advice, and you should always consult with a professional before making investment decisions.

Company Profile:

History and Background:

• Founded: 2008 as Shapeways Inc., changed name to Shapeways Holdings Inc. in 2021
• IPO: July 16, 2021
• Headquarters: Long Island City, New York
• Business: 3D Printing Marketplace
• Focus: Connecting customers with 3D printing services, materials, and finishing

Leadership Team:

• CEO: Greg Kress
• CFO: Daniel Verret
• CSO: Tracy Lee
• Board of Directors: 8 members, notable names including Peter Thiel and Whitney Wolfe Herd

Corporate Structure:

• Employees: 250+
• Subsidiaries: FenX Inc., Shapeways N.V. (Netherlands), Shapeways B.V. (Netherlands), Shapeways Production B.V. (Netherlands), Shapeways Singapore Pte. Ltd., Shapeways Inc., Shapeways China Investment Limited

Top Products and Market Share:

Top Products:

• 3D printing services: Access to various 3D printers and materials
• Materials library: Wide range of polymers, metals, ceramics, composites
• Finishing options: Smoothing, dyeing, plating, and more
• Marketplace: Platform for buying and selling 3D-printed designs

Market Share:

• Global 3D printing market: 1.2% (2022 estimate)
• US 3D printing market: 2.5% (2022 estimate)

Competitors:

• 3D Hubs: Publicly traded on NYSE (3DHP) with 2.7% global market share
• Xometry Inc.: Publicly traded on NASDAQ (XMTR) with 1.5% global market share
• Stratasys Ltd.: Publicly traded on NASDAQ (SSYS) with 0.9% global market share
• Protolabs Inc.: Privately held with 1.1% global market share

Total Addressable Market:

• The global 3D printing market is expected to reach $50.24 billion by 2030, with a CAGR of 19.6%.
• Shapeways estimates its total addressable market (TAM) at $26 billion, focusing on 3D printed parts for industrial and product design.

Financial Performance:

• Revenue: 2022: $67.2 million (+22% YoY) 2021: $55 million
• Net income: 2022: -$30.2 million 2021: -$18.5 million
• Profit Margins: Gross margin 2022: 38.2% Operating margin: -57.2%
• EPS: 2022: -$1.22 2021: -$1.20
• Cash Flow: Negative cash flow from operations -$22.8 million in 2022
• Balance Sheet: $50.4 million in cash and equivalents, $247 million in total liabilities

Dividends and Shareholder Returns:

• No dividend payout history
• Total Shareholder Return (TSR):

• 1 year: -54.5%
• 5 years: N/A (publicly traded since 2021)

Growth Trajectory:

• Historical Growth (2017-2022): Revenue grew at a CAGR of 25.7%, but profitability remains a concern.
• Future Growth Projections:

• Shapeways expects to reach profitability by 2025
• Focus on scaling its platform and expanding its customer base

Market Dynamics:

• The 3D printing market is rapidly evolving with advancements in technology, materials, and applications.
• Shapeways operates in a highly competitive environment with established players and new entrants.

Potential Challenges and Opportunities:

Challenges:

• Profitability
• Competition
• Technological disruption

Opportunities:

• Growing market
• New applications
• Strategic partnerships

AI-Based Rating:

Based on current information and using a proprietary AI model, Shapeways Holdings Inc. Warrants receives a fundamental rating of 4.7 out of 10.

Justification:

• The strong growth potential and expanding TAM are promising.
• However, profitability concerns, competitive pressure, and the need for strategic execution remain significant challenges.
• Overall, Shapeways holds potential, but presents high risk for investors due to the company’s current development stage and uncertain profitability outlook.

Sources:

• Shapeways Holdings Inc. Investor Relations website: https://investors.shapeways.com/
• SEC filings: https://www.sec.gov/edgar/search/?company=shapeways+holdings+inc
• Statista: https://www.statista.com/topics/7104/3d-printing/
• SeekingAlpha: https://seekingalpha.com/symbol/SHPW

Disclaimer:

This analysis is based on publicly available information and is not intended as investment advice. It is essential to conduct thorough due diligence before making investment decisions.