Velo3D, Inc.

Velo3D, Inc. has issued preliminary, unaudited revenue results for the third quarter ended September 30, 2026. The company anticipates revenue to be in the range of $19.5 million to $20.5 million, indicating a significant year-over-year growth of approximately 43% to 51%. Velo3D plans to release its final financial results for the quarter during the week of November 9, 2026. These preliminary figures are subject to completion of customary closing procedures and final adjustments.

Velo3D reported a 52.2% increase in Q2 2026 total revenue to $20.7 million, with gross profit turning positive at $4.4 million compared to a loss in the prior year. Net loss for the quarter narrowed by 13.2% to $11.5 million. Despite these operational improvements and successful capital raises totaling over $109 million, the company continues to face a "going concern" warning due to recurring operating losses and negative cash flows, necessitating further financing.

Velo3D, Inc. has entered into registration rights agreements with Arrayed Notes Acquisition Corp. and Thieneman Construction, Inc. These agreements grant the holders the right to register and sell shares of common stock that were issued upon the conversion of previously held senior secured convertible promissory notes. Arrayed converted a $5,000,000 note into 394,517 shares, and Thieneman converted a $10,000,000 note into 1,145,830 shares. Arrayed is noted as an affiliate of Velo3D's Chief Executive Officer and Chairman of the Board.

Velo3D's Compensation Committee granted CEO Arun Jeldi a performance-based stock option for 964,474 shares, exercisable at $18.40. The award vests upon achieving market capitalization milestones of $1 billion, $3 billion, $5 billion, and $10 billion within five years, contingent on Mr. Jeldi's continued service. Additionally, the company entered into Change in Control Agreements with the CEO, CFO, and CRO, providing severance benefits including a lump sum payment, accelerated equity vesting, and medical benefits under specific termination conditions following a change in control.

Velo3D, Inc. stockholders approved an amendment to the 2021 Equity Incentive Plan, increasing authorized shares for issuance by 2,860,000 and incentive stock options from 244,377 to 10,000,000 shares. The amendment also requires stockholder approval for option or SAR repricing. Additionally, stockholders elected Stefan Krause and Lily Mei as Class II directors, ratified Frank, Rimerman + Co. LLP as the independent auditor for 2026, and approved the advisory vote on named executive officer compensation. They also indicated a preference for annual advisory votes on executive compensation.

Velo3D, Inc. has established a new "at-the-market" equity offering program, allowing it to sell up to $100 million of its common stock through Needham & Company, LLC, Cantor Fitzgerald & Co., and Craig-Hallum Capital Group, LLC. The company intends to use any net proceeds for working capital and general corporate purposes. Concurrently, Velo3D terminated its previous sales agreement with Needham & Company, LLC, without incurring any penalties.

Velo3D reported a significant improvement in its Q1 2026 net loss, narrowing to $(7.0) million from $(25.0) million in Q1 2025, with total revenue increasing by 48.2% to $13.8 million. However, management expressed substantial doubt about the company's ability to continue as a going concern due to insufficient liquidity for the next 12 months. The company has engaged in various financing activities, including recent debt conversions and a $50 million public offering in April 2026, to address its capital needs.

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.

Velo3D, Inc. announced the pricing of a firm commitment underwritten registered direct offering of 3,571,428 shares of its common stock at $14.00 per share. This offering is expected to generate gross proceeds of approximately $50 million for the company. The net proceeds are intended for working capital and general corporate purposes, with the offering expected to close around April 28, 2026.

Velo3D, Inc. announced its 2026 Annual Meeting of Stockholders will be held virtually on Wednesday, June 10, 2026. Stockholders will vote on several key proposals, including the election of two Class II directors, the ratification of the independent registered public accounting firm, advisory votes on executive compensation and its frequency, and an amendment to the 2021 Equity Incentive Plan to increase authorized shares. The Board recommends voting "FOR" all proposals, with a recommendation of "FOR 1 Year" for the Say-on-Pay frequency.