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VELO

Velo3D, Inc.

VELO

Velo3D, Inc. • NASDAQ
$5.35 ▼ -0.56% (-0.03)
Market Cap $111.88 M
52w High $28.50
52w Low $1.43
Dividend Yield 0%
P/E -0.12
Volume 124.36K
Outstanding Shares 20.91M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $13.572M ▲ $10.501M ▼ $-13.756M ▲ -101.356% ▲ $-14.7 ▼ $-11.312M ▲
Q1-2025 $9.32M ▼ $12.618M ▼ $-25.411M ▼ -272.65% ▼ $-1.95 ▲ $-23.391M ▲
Q4-2024 $12.626M ▲ $21.188M ▼ $-21.953M ▲ -173.871% ▲ $-12.6 ▲ $-25.346M ▼
Q3-2024 $8.247M ▼ $22.816M ▲ $-22.858M ▼ -277.167% ▼ $-37.05 ▼ $-10.672M ▼
Q2-2024 $10.344M $17.623M $-172K -1.663% $-3 $6.598M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $854K ▼ $78.558M ▼ $57.023M ▼ $21.535M ▼
Q1-2025 $3.87M ▲ $91.399M ▲ $58.517M ▲ $32.882M ▼
Q4-2024 $1.212M ▼ $89.18M ▼ $49.516M ▼ $39.664M ▲
Q3-2024 $1.637M ▼ $110.787M ▼ $76.1M ▲ $34.687M ▼
Q2-2024 $3.161M $116.652M $64.533M $52.119M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-13.756M ▲ $-1.216M ▲ $-1.799M ▼ $0 ▼ $-3.016M ▼ $-3.015M ▲
Q1-2025 $-25.411M ▼ $-12.349M ▼ $0 ▼ $15M ▲ $2.658M ▲ $-12.349M ▼
Q4-2024 $-21.953M ▲ $-2.212M ▼ $1.123M ▲ $502K ▲ $-597K ▲ $-2.193M ▼
Q3-2024 $-22.858M ▼ $-1.973M ▲ $678K ▼ $468K ▲ $-825K ▲ $-1.993M ▲
Q2-2024 $-172K $-7.969M $2.473M $205K $-5.292M $-7.97M

Five-Year Company Overview

Income Statement

Income Statement Revenue is still very small and has not grown meaningfully over the past few years, which is notable for a young technology company. Gross profit has hovered around break-even or slightly negative, suggesting the core printing and service activities are not yet consistently profitable. Operating losses are sizable relative to revenue, reflecting heavy spending on research, sales, and corporate overhead. The company briefly achieved positive operating earnings a few years ago, but has since slipped back into deeper losses, indicating that scaling the business has been harder than expected. Overall, the income statement shows an early-stage, high-potential technology story that has not yet been matched by stable commercial or financial performance.

Balance Sheet

Balance Sheet The balance sheet has been shrinking over time, with total assets and equity both trending down. This usually points to ongoing losses eating into the company’s capital base. Cash reserves have come down, leaving a relatively thin cushion to absorb continued losses unless new funding is raised. Debt levels are present but not excessive, so the main concern is less about heavy leverage and more about the company’s ability to fund itself if revenue does not ramp up. In short, the balance sheet looks modest and under pressure, with limited room for prolonged cash burn without outside support.

Cash Flow

Cash Flow Velo3D has consistently used more cash than it generates from its operations, which is typical for a company investing heavily ahead of revenue but becomes risky when that pattern persists. Free cash flow has been firmly negative, meaning the business has required ongoing external funding to keep operating and investing. Capital spending has not been large, so the main driver of cash outflow is operating losses rather than big factory or equipment builds. The key question going forward is whether the new service-focused strategy can move operating cash flow toward break-even before cash resources become too tight.

Competitive Edge

Competitive Edge From a technology and market standpoint, the company appears well differentiated. Its ability to print complex metal parts with little or no support, the integrated software and quality-control stack, and its focus on aerospace and defense all create a clear niche. The patent portfolio, long customer qualification cycles, and high switching costs provide some protection against direct competition once a system is embedded with a customer. However, Velo3D is still a small player in a crowded and fast-evolving metal additive manufacturing space, facing larger rivals with more resources. Its competitive position is therefore strong in terms of technology and specialization, but still fragile in terms of scale, customer diversification, and financial strength.

Innovation and R&D

Innovation and R&D Innovation is clearly at the heart of this company. The SupportFree process, non-contact recoater, and integrated Flow and Assure software show a deep engineering focus and a willingness to tackle hard, high-value problems. The move toward Rapid Production Solutions and a more service-heavy model also reflects business-model innovation, not just hardware development. Looking ahead, the ambition to layer in AI, machine learning, and robotics for more autonomous manufacturing could further differentiate the platform if executed well. The trade-off is that such a high level of R&D and product development is expensive, and so far it has not been fully offset by revenue growth, which is visible in the ongoing losses.

Summary

Velo3D combines cutting-edge metal additive manufacturing technology with a business that is still very much in the build-out phase. The company appears to have genuine technical advantages and a defensible niche in demanding markets like aerospace and defense, supported by patents, software, and lengthy qualification cycles. At the same time, revenue remains modest, margins are weak, and cash burn is significant, leading to a shrinking balance sheet and dependence on external capital. Future performance will hinge on whether management can translate its strong innovation and the new service-based strategy into sustained revenue growth, healthier margins, and a more self-sufficient cash profile. Until that happens, the story remains high-potential but also high-risk from a financial standpoint.

NEWS

November 10, 2025 · 4:05 PM UTC

Velo3D Now Listed on Nasdaq (Ticker: VELO) Announces Third Quarter 2025 Financial Results

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October 31, 2025 · 9:00 AM UTC

Velo3D to Announce Third Quarter 2025 Results on November 10, 2025

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October 27, 2025 · 9:00 AM UTC

Velo3D to Present at Starting 5 Virtual Investor Conference: Defense Edition, Hosted by MS Microcaps & Atrium Research, on October 27 at 1:25 p.m. ET

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October 15, 2025 · 9:00 AM UTC

Velo3D and iRocket Strengthen U.S. Aerospace & Defense Supply Chains Through Expanded Additive Manufacturing Partnership

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October 1, 2025 · 9:00 AM UTC

Velo3D Expands Open Platform with Dyndrite Integration, Unlocking Advanced Toolpath R&D and Scalable Repeatable Production

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