Velo3D Inc (NASDAQ:VELO) reported financial results for the third quarter after the closing bell on Tuesday. Here’s a rundown of the report.
- Velo3D stock is among today’s weakest performers. Why is VELO stock falling?
Velo3D Q3 Earnings Highlights
Velo3D reported third-quarter revenue of $20.45 million, beating analyst estimates of $19.34 million, according to Benzinga Pro. The company posted a third-quarter adjusted loss of 34 cents per share, missing analyst estimates for a loss of 26 cents per share.
Velo3D said its operating expenses increased in the quarter as the company invested in the people, technology and operational capabilities needed to bring its Livermore Production Campus online and prepare for expanded production.
Total revenue was up 50% year-over-year as 3D Printer and Parts revenue grew 57% year-over-year, driven by an increase in the number of 3D Printer systems sold, higher average selling prices and a more favorable product mix. New bookings totaled $28.9 million in the third quarter.
“These results reflect continued customer demand for our metal additive manufacturing technology and the progress we are making in executing our growth strategy,” said Arun Jeldi, CEO of Velo3D.
Velo3D ended the quarter with a backlog of $40.1 million and total cash and cash equivalents of $75.7 million.
Velo3D affirmed expectations for full-year 2026 revenue of $65 million to $75 million versus estimates of $72.50 million.
VELO Shares Trade Lower After Earnings
VELO Price Action: Velo3D shares were down 17.22% in after-hours Tuesday, trading at $5 at the time of publication, according to Benzinga Pro.
Image: Shutterstock.com
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