Earnings Releases·Nov 10, 2026, 4:05 PM ET

Velo3D — Third Quarter 2026 Earnings Summary

Revenue grew 50% year-over-year to $20.5 million, while GAAP gross margin expanded significantly to 26.5% from 3.2%; however, GAAP net loss widened to $16.7 million as operating expenses rose to $22.7 million due to investments in scaling operations.
Full-year 2026 revenue guidance of $65 million to $75 million and non-GAAP operating expense guidance of $45 million to $55 million were reaffirmed, though gross margin expectations were adjusted to anticipate sequential Q4 improvement rather than >30% margins in H2, and capital expenditures were reduced to $10–$20 million.
The path to profitability was revised, with positive net cash from operations and EBITDA now expected in 2028, up from the prior second-half 2026 target, while the company confirmed no substantial doubt exists regarding its ability to continue as a going concern.
Strategic progress includes a 76% reduction in total debt to $7.4 million, a cash balance of $75.7 million, and the phased operational launch of the Forge 1 production campus, supported by new bookings of $28.9 million and a backlog of $40.1 million.