PR Newswire·Nov 10, 2026, 4:05 PM ET

Velo3D Announces Third Quarter 2026 Financial Results

VELO

Velo3D reported third-quarter 2026 revenue of $20.5 million, a 50% increase year-over-year, driven by a 57% rise in 3D printer & parts sales.
New bookings reached $28.9 million, exceeding quarterly revenue, while the backlog stood at $40.1 million as of September 30, 2026.
Gross margin improved to 26.5% from 3.2% in the prior year period, attributed to higher average selling prices, favorable product mix, manufacturing efficiencies, and inventory reserve adjustments.
Operating expenses increased to $22.7 million due to investments in personnel & capabilities for the new Livermore Production Campus, Forge 1.
The company recorded a GAAP net loss of $16.7 million ($0.52 per share) compared to $11.2 million in the third quarter of 2025.
Non-GAAP net loss was $10.8 million, while adjusted EBITDA was a loss of $9.8 million for the quarter.
Cash and cash equivalents totaled $75.7 million as of September 30, 2026, up from $39.0 million at the end of 2025, primarily funded by financing activities.
Total outstanding debt decreased by approximately 76% to $7.4 million following the conversion of secured notes to common stock & loan repayments.
Management removed substantial doubt regarding the company's ability to continue as a going concern for the next twelve months.
The Livermore Production Campus, Forge 1, opened in July 2026 & is currently operating in phases to expand manufacturing capacity for aerospace & defense customers.
Velo3D joined the Government-Industry Data Exchange Program (GIDEP) to enhance quality & supply-chain management for defense manufacturing.
The partnership with Mears Machine Corporation expanded as Mears ordered its sixth Sapphire® XC system for copper-nickel additive manufacturing.
Full-year 2026 revenue guidance is reaffirmed at $65 million to $75 million, with non-GAAP adjusted operating expenses expected between $45 million & $55 million.
2026 gross margin guidance was revised to reflect sequential improvement in Q4, dropping the prior expectation of exceeding 30% in the second half of the year.
2026 capital expenditure guidance was reduced to $10 million–$20 million from the previous $40 million–$50 million range, shifting substantial planned spending to 2027.
The company now expects to achieve positive net cash from operations & positive EBITDA in 2028, revising the prior expectation of positive EBITDA in the second half of 2026.
Financial statements for the first two quarters of 2026 were revised to correct errors related to excess & obsolete inventory reserves, reducing reported net loss by $1.6 million for the six months ended June 30, 2026.

Company: Velo3D, Inc.
Keywords: Velo3D, Inc.