Velo3D Reports 48.2% Revenue Growth to $13.8 Million in Latest Quarter

Velo3D, Inc. reported significant financial developments in its latest quarterly filing, revealing a total revenue of $13.8 million for the three months ended March 31, 2026, a 48.2% increase from $9.3 million in the same period last year. The growth was primarily driven by a 59.8% rise in sales of 3D printers and parts, which reached $12.0 million, attributed to higher average selling prices and increased production volumes. However, support services revenue declined by 29.1% to $1.3 million, reflecting a decrease in demand for maintenance services as the installed base of printers grew.

The company's cost of revenue also increased, totaling $11.4 million, up 32.6% from $8.6 million in the prior year. The cost of 3D printers and parts rose to $10.2 million, driven by higher sales volumes, while the cost of support services increased slightly. Despite the rise in costs, Velo3D achieved a gross profit of $2.4 million, resulting in a gross margin of 17.2%, a notable improvement from 7.5% in the previous year. This increase in gross margin was attributed to operational efficiencies and a favorable product mix.

In terms of operational metrics, Velo3D's accumulated deficit reached $505.1 million as of March 31, 2026, with cash and cash equivalents decreasing to $16.6 million from $39.0 million at the end of the previous fiscal year. The company reported a net loss of $7.0 million, a significant reduction from a loss of $25.0 million in the same quarter of 2025. This improvement was largely due to reduced operating expenses, which fell by 23.7% to $9.3 million, driven by a decrease in general and administrative costs.

Strategically, Velo3D has focused on enhancing its product offerings and expanding its customer base. The company has engaged in various financing activities, including a recent public offering that raised approximately $50 million, aimed at bolstering its liquidity and funding operational needs. Velo3D's management has expressed concerns regarding its ability to continue as a going concern, emphasizing the need for additional financing to meet its obligations over the next 12 months.

Looking ahead, Velo3D anticipates continued growth in demand for its additive manufacturing solutions, particularly in sectors such as aerospace and defense. The company is committed to investing in research and development to enhance its technology and product capabilities, aiming to solidify its position in the competitive landscape of metal additive manufacturing.