Quarterly ResultMay 12, 2026, 04:07 PM
Velo3D Q1 Revenue Up 48% to $13.8M; Gross Margin 17.2%
AI Summary
Velo3D announced its first quarter 2026 financial results, reporting a 48% year-over-year revenue increase to $13.8 million and achieving a positive gross margin of 17.2%. The company significantly reduced its GAAP net loss and improved Non-GAAP Adjusted EBITDA. Key business developments included securing a $9.8 million contract with the Defense Logistics Agency and completing a $50 million equity offering, which helped reduce outstanding debt by 70%. Velo3D reaffirmed its full-year 2026 revenue guidance and expects to turn EBITDA positive in the second half of the year.
Key Highlights
- Velo3D Q1 2026 revenue increased 48% year-over-year to $13.8 million.
- Gross margin for Q1 2026 was 17.2%, up from 7.5% in Q1 2025.
- GAAP net loss improved to $(7.0) million in Q1 2026 from $(25.0) million in Q1 2025.
- Non-GAAP Adjusted EBITDA for Q1 2026 was $(3.6) million, an improvement from $(6.9) million.
- Secured a $9.8 million, five-year IDIQ contract with the Defense Logistics Agency.
- Closed a $50 million registered direct offering in April 2026.
- Reduced outstanding debt by approximately 70% to $9 million through debt-to-equity conversions and repayments.
- Reaffirmed full-year 2026 revenue guidance of $60 million to $70 million.
- Expects to achieve positive EBITDA in the second half of 2026.