Velo3D(NYSE) VLD

Velo3D, Inc. makes specialized 3D printers for metal parts. It helps engineers build complex rocket and jet components. These printers create metal shapes once considered impossible.

Making Parts With Metal Printers

• 3D Printer Sales: Sapphire family of printers, including Sapphire XC and Sapphire 1MZ; accounts for 89.9% of revenue.
• Support Services: Field engineering, phone help, and preventative maintenance; accounts for 8.0% of revenue.
• Rapid Production Solutions: Custom parts manufacturing using a fleet of large-format printers; revenue is included in the printer sales category.
• Software Solutions: Proprietary platforms, including Flow for design preparation, and Assure for quality control; accounts for 2.1% of revenue.

Rebuilding the Capital Base

• Issued a $100 million at-the-market equity program in May 2026.
• Completed a $50 million underwritten registered direct offering in April 2026.
• Converted $15 million in promissory notes and interest into common stock in March 2026.
• Signed a $10 million equipment sale-leaseback agreement on Dec. 8, 2025.
• Implemented a 1-for-15 reverse stock split on July 28, 2025.

Why the Technology Differs

Velo3D uses proprietary laser technology that lets printers create parts without extra supports. This system builds complex internal channels that traditional manufacturing methods cannot produce.

The Latest Quarterly Results

• Total revenue rose 52.3% year over year to $20.7 million for the three-month period ended June 30, 2026.
• Gross margin reached 21.5% for the three-month period ended June 30, 2026.
• Net loss was $18.5 million for the six-month period ended June 30, 2026.
• Firm order backlog totaled $31 million as of June 30, 2026.
• Management planned capital expenditures between $40 million to $50 million for 2026.

A Shifting Business Model

Velo3D has evolved from a developer into a commercial manufacturer of advanced metal printing systems. While revenue is growing, the company relies on frequent capital raises to fund its ongoing operations and manufacturing expansion.