| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 13.82 | 48.3% |
| Total Income | 13.82 | 48.3% |
| Expenditure | 20.76 | 2.3% |
| PBT | -6.97 | 72.6% |
| Net Profit | -7.00 | 72.5% |
| OPM | -50.28% | |
| NPM | -50.65% | |
| EPS | -0.28 | 115.4% |
Velo3D Announces Q1 2026 Revenue Up 48% Y-o-Y
13 May 2026 · 13 May, 1:37 am
Summary
Velo3D reported a strong start to 2026 with first-quarter revenue of $13.8 million, up 48% year-over-year. The company achieved a gross margin of 17.2%, a significant increase from 7.5% in the prior year. Velo3D reaffirmed its revenue outlook for 2026, expecting between $60 million and $70 million, and anticipates achieving positive EBITDA in the second half of the year. Recent business developments include being awarded a $9.8 million contract with the Defense Logistics Agency and closing a $50 million equity offering.
Key Highlights
- 1
Velo3D's revenue for the first quarter of 2026 was $13.8 million, representing a 48% increase year-over-year.
- 2
The company achieved a gross margin of 17.2% in the first quarter of 2026, compared to 7.5% in the first quarter of 2025.
- 3
Velo3D was awarded a $9.8 million, five-year Indefinite Delivery Indefinite Quantity (IDIQ) contract supporting the Defense Logistics Agency's (DLA).
- 4
The company reaffirms its outlook for 2026 revenue to be between $60 million and $70 million.
- 5
Velo3D anticipates turning EBITDA positive in the second half of 2026.
- 6
The company closed a firm commitment underwritten registered direct offering in April 2026, raising gross proceeds of approximately $50 million.
Management Comments
Arun Jeldi
For the first quarter, we delivered a strong start to 2026 with revenue up 48% year‑over‑year, reflecting recent sales momentum and disciplined execution across our end markets. Importantly, we achieved positive gross margin this quarter, a key inflection point that validates our operating model as we scale production and continue to drive cost efficiency. With a robust pipeline of opportunities, we believe we have a solid foundation for continued growth. Demand remains particularly strong in defense and aerospace, where customers are prioritizing scalable, high‑performance additive manufacturing solutions. To support this demand and accelerate our expansion, we completed a successful equity offering in April, securing additional capital to invest in talent and operational infrastructure. We believe our competitive position is strengthening as we deepen customer relationships and expand into new programs. We remain focused on executing our expansion plans to capture these opportunities and drive long‑term value creation.
Jim Suva
On April 27, 2026, the Company closed a firm commitment underwritten registered direct offering of 3,571,428 shares of its common stock, with gross proceeds of approximately $50 million. During the first quarter of 2026, the Company also completed debt-to-equity conversions totaling principal of $15 million, including $5 million converted at a premium to the Company's share price on the date of conversion, and full repayment of the secured notes. As a result, we reduced our outstanding debt by approximately 70% to approximately $9 million.
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