Velo3D, Inc. VELO
We are a production-focused metal additive manufacturing technology company that develops and manufactures advanced metal additive manufacturing systems and provides production and engineering services that enable customers to manufacture high-value metal parts at scale.
Additive manufacturing ("AM"), also referred to as three-dimensional printing ("3D printing"), has historically been used primarily for prototyping and limited production applications. We believe the industry is transitioning toward production-scale deployment, particularly in defense, aerospace, energy and other industrial markets where supply chain resilience, rapid innovation cycles and complex engineering requirements are critical.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- Americas
- Europe
- Other
| Region | FY2025 | FY2024 |
|---|---|---|
| Americas | $39.9M | $39.9M |
| Europe | $4.5M | $839.0K |
| Other | $1.6M | $256.0K |
As the company reported it, from the “Revenue - Revenue by Geographic Area (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $46.0M | $41.0M | $77.4M | $78.7M | $27.4M | $19.0M | — |
| Cost of revenue | $53.4M | $43.1M | $103.7M | $77.9M | $22.5M | $12.6M | — |
| Gross profit | -$7.4M | -$2.1M | -$26.3M | $843.0K | $5.0M | $6.4M | — |
| R&D | $10.7M | $15.5M | $42.0M | $46.3M | $27.0M | $14.2M | — |
| SG&A | $30.1M | $48.4M | $41.7M | $37.0M | $23.4M | $6.4M | — |
| Total operating expenses | $47.5M | $76.7M | $107.0M | $107.2M | $62.7M | $27.6M | — |
| Operating income | -$54.9M | -$78.8M | -$133.3M | -$106.3M | -$57.8M | -$21.2M | — |
| Interest expense | $4.4M | $16.0M | $9.7M | $372.0K | $2.7M | $639.0K | — |
| Pre-tax income | -$71.2M | -$69.8M | -$135.1M | $8.0M | -$107.1M | -$21.8M | — |
| Income tax | $117.0K | $20.0K | $0 | $0 | $0 | $0 | — |
| Net income | -$71.4M | -$69.7M | -$135.1M | $8.0M | -$107.1M | -$21.8M | — |
| EPS, basic | -4.33 | -82.32 | -23.97 | 0.04 | -1.82 | -0.56 | — |
| EPS, diluted | -4.33 | -82.32 | -23.97 | 0.04 | -1.82 | -0.56 | — |
| Shares, diluted (wtd. avg.) | 16.5M | 847,265 | 5.6M | 202.2M | 58.7M | 15.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $39.0M | $1.2M | $25.3M | $32.8M | $104.4M | $15.5M | $9.8M |
| Short-term investments | — | — | $6.6M | $98.3M | $81.7M | $0 | — |
| Receivables | $6.3M | $3.7M | $9.6M | $11.8M | $10.2M | $1.2M | — |
| Inventory | $27.1M | $50.0M | $60.8M | $61.1M | $42.7M | $7.3M | — |
| Total current assets | $80.1M | $57.7M | $113.0M | $221.7M | $249.8M | $27.9M | — |
| Property, plant and equipment | $2.9M | $14.3M | $16.3M | $17.7M | $12.4M | $1.0M | — |
| Total assets | $78.4M | $89.2M | $153.8M | $262.5M | $287.2M | $32.7M | — |
| Accounts payable | $10.3M | $18.5M | $15.9M | $15.7M | $19.6M | $1.2M | — |
| Short-term debt | — | $29.9M | — | — | — | — | — |
| Total current liabilities | $33.8M | $38.0M | $48.7M | $53.5M | $55.5M | $12.1M | — |
| Long-term debt | $31.0M | $6.0M | $44.0M | $8.4M | — | — | — |
| Total liabilities | $67.2M | $49.5M | $85.5M | $80.8M | $237.9M | $16.8M | — |
| Retained earnings | -$465.1M | -$383.6M | -$384.6M | -$168.2M | -$295.5M | -$122.8M | — |
| Total equity | $21.4M | $39.7M | $68.3M | $138.8M | $110.4M | -$107.8M | -$100.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$27.3M | -$32.7M | -$105.6M | -$124.0M | -$56.4M | -$26.4M | — |
| Depreciation and amortisation | $3.4M | $4.8M | $9.3M | $5.3M | $3.0M | $1.2M | — |
| Stock-based compensation | $9.5M | $11.8M | $24.9M | $20.1M | $4.4M | $1.5M | — |
| Capital expenditure | $2.7M | $9.0K | $1.0M | $13.8M | $9.6M | $401.0K | — |
| Investing cash flow | -$2.7M | $7.8M | $38.9M | -$53.0M | -$33.6M | -$3.4M | — |
| Financing cash flow | $67.8M | $1.5M | $59.3M | $1.3M | $282.9M | $35.6M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001825079-26-000007.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $19.0M | $27.4M | $78.7M | $77.4M | $41.0M | $46.0M |
| Gross profit | — | $6.4M | $5.0M | $843.0K | -$26.3M | -$2.1M | -$7.4M |
| Net income | — | -$21.8M | -$107.1M | $8.0M | -$135.1M | -$69.7M | -$71.4M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Officer or director change Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Material agreement signed Item 1.01
- Officer or director change Item 5.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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