Velo3D, Inc. produces and sells metal additive three dimensional printers in the Americas, Europe, and internationally. The company’s printers enable the production ...
Velo3D, Inc. is a leading technology company specializing in metal additive manufacturing, offering a fully integrated solution that includes printers, software, and quality control systems. Founded in 2014 and headquartered in Fremont, California, Velo3D enables the production of mission-critical components for space rockets, jet engines, fuel delivery systems, and other ...Velo3D, Inc. is a leading technology company specializing in metal additive manufacturing, offering a fully integrated solution that includes printers, software, and quality control systems. Founded in 2014 and headquartered in Fremont, California, Velo3D enables the production of mission-critical components for space rockets, jet engines, fuel delivery systems, and other complex metal parts. The company's product line includes the Sapphire series of printers (Sapphire, Sapphire 1MZ, Sapphire XC, and Sapphire XC 1MZ) and proprietary software platforms such as Flow for print preparation, Assure for quality control, and Intelligent Fusion for process control. Velo3D's solutions are used by customers ranging from small and medium-sized enterprises to Fortune 500 companies across space, aviation, defense, automotive, energy, and industrial markets. The company also offers Rapid Production Solutions to help build resilient supply chains and provides support services. As of the latest data, Velo3D trades on NASDAQ under the symbol VELO, with a market capitalization of approximately $274 million. The company has faced financial challenges, reflected in negative profitability metrics, but continues to innovate in the additive manufacturing space. It operates as a subsidiary of Arrayed Additive Inc. and employs around 134 people. The CEO, Dr. Arun Jeldi, leads the company with a focus on advancing metal 3D printing technology to enable production without compromise.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$46.0M
+12.1%
+49.6%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-71.4M
-2.3%
-64.5%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
-16.1%
-216.7%
+24.7%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-119.5%
+37.8%
-6.5%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-155.2%
+8.7%
-10.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-30.0M
+8.1%
-32.5%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-65.3%
+18.0%
+11.4%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
105.4%
+162.7%
-93.7%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
2.34x
+53.8%
+158.7%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator : Greetings, and welcome to Velo3D First Quarter 2026 Earnings Call. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to James Carbonara, Investor Relations. Thank you. You may begin.
James Carbonara : Thank you, operator. Good day, everyone, and welcome to Velo3D's First Quarter 2026 Earnings Call. Before we begin, please note that today's call will contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Please refer to our press release issued earlier today as well as our filings with the SEC, including our 2025 Form 10-K, for a discussion of these risks. We will also reference certain non-GAAP financial measures during the call. Reconciliations between GAAP and non-GAAP results can be found in today's press release, which is available on the Investor Relations section of our website. A replay of this call will also be available shortly after its conclusion. With that, I will turn the call over to our CEO, Arun Jeldi. Arun, please go ahead.
Arun Jeldi : Good afternoon, everyone. And thank you for joining Velo3D's First Quarter 2026 Earnings Call. 2026 is off to a strong start for Velo3D. We are seeing accelerating momentum across the business, driven by strong execution, expanding customer demand, and increasing adoption of additive manufacturing as a true production technology across defense and aerospace markets. In the first quarter, revenue increased 48% year-over-year, reflecting continued strength across both our defense and commercial aerospace end markets, as qualified programs increasingly convert into full-scale production activity. We believe this performance underscores the growing strategic importance of our technology and the confidence customers are placing in Velo3D as a long-term manufacturing partner. A major highlight this quarter was continued expansion of our Rapid Production Solutions or RPS business, which now represents an increasingly meaningful system sales. RPS creates long-duration production relationships with repeat utilization across multiple programs. Driving greater visibility, we believe this mix shift positions us to pursue more durable, high-quality revenue streams and scalable, profitable growth over time. From a profitability standpoint, we delivered positive gross margin of 17% during the quarter, a significant milestone and another strong indicator that the structural improvements we have implemented are taking hold. Gross margin expansion was driven by higher utilization rates, improved manufacturing efficiency, better absorption of fixed costs, and continued operational discipline throughout our production footprint. Importantly, we believe we are still in early innings of this margin expansion story. We expect meaningful, continued progress …
