Velo3D Reports 52.3% Revenue Growth to $20.7 Million in Latest Quarter

Velo3D, Inc. reported significant financial performance improvements in its latest quarterly filing, with total revenue reaching $20.7 million for the three months ended June 30, 2026, a 52.3% increase from $13.6 million in the same period last year. The growth was primarily driven by a 57.0% rise in sales of 3D printers and parts, which totaled $19.0 million, up from $12.1 million. The company also noted a gross profit of $4.4 million, a substantial recovery from a loss of $1.6 million in the prior year, reflecting a gross margin of 21.5% compared to negative margins in the previous year.

In terms of operational metrics, Velo3D's customer base and product adoption appear to be expanding. The company reported a backlog of $31 million in firm orders for 3D printers and printed parts as of June 30, 2026. This backlog indicates a growing demand for its products, particularly in sectors such as aerospace and defense. The company has also been focusing on enhancing its Rapid Production Solutions (RPS) offering, which utilizes its advanced 3D printing technology to accelerate production for customers.

Strategically, Velo3D has made notable changes, including a successful registered direct offering that generated approximately $50 million in gross proceeds in April 2026. Additionally, the company has entered into an At-the-Market equity program, raising $59.4 million through the sale of shares. These financing activities have bolstered Velo3D's liquidity position, with cash and cash equivalents increasing to $91.1 million as of June 30, 2026, compared to $39.0 million at the end of the previous fiscal year.

Despite these positive developments, Velo3D continues to face challenges, including an accumulated deficit of $516.7 million and ongoing operating losses. The company reported a net loss of $11.5 million for the second quarter of 2026, although this was an improvement from a loss of $13.3 million in the same quarter of 2025. Management has indicated that substantial doubt remains regarding the company's ability to continue as a going concern without additional financing, as it expects to require further capital to support operations and meet obligations.

Looking ahead, Velo3D aims to continue its focus on expanding its customer relationships and enhancing its product offerings. The company plans to invest in research and development to improve its additive manufacturing solutions and increase production efficiency. However, it acknowledges that market conditions, customer demand, and macroeconomic factors will significantly influence its future performance and financial stability.