Velo3D Wins $32.6 Million DIU Project FORGE Contract

Velo3D ( (VELO) ) has issued an update.

On December 22, 2025, Velo3D announced it had secured a $32.6 million Other Transaction Agreement contract with the U.S. Department of War’s Defense Innovation Unit to support Project FORGE, an initiative aimed at resolving major manufacturing bottlenecks in the U.S. defense industrial base for a critical munitions program. Under the contract, Velo3D will work with DIU, the U.S. Navy and a prime contractor to prototype and qualify additively manufactured components using its Rapid Production Solution, and the agreement also includes an option to explore development of the largest laser powder bed fusion printing capability in the U.S., reinforcing the company’s positioning as a key domestic supplier of advanced defense manufacturing capacity. Separately, Velo3D revised its full-year 2025 revenue guidance to a range of $45 million to $55 million due to delays from an extended fourth-quarter government shutdown that constrained normal operations and project approvals, although the company reported it maintained operations and client relationships during the disruption, which it believes leaves it well placed for a rebound as activity normalizes in fiscal 2026.

The most recent analyst rating on (VELO) stock is a Hold with a $12.00 price target. To see the full list of analyst forecasts on Velo3D stock, see the VELO Stock Forecast page.

Spark’s Take on VELO Stock

According to Spark, TipRanks’ AI Analyst, VELO is a Neutral.

Velo3D’s overall stock score is primarily impacted by its poor financial performance, with significant challenges in revenue, profitability, and cash flow. However, positive technical momentum and encouraging corporate events, including a successful Nasdaq uplisting and strong sector bookings, provide some optimism. The negative valuation metrics, such as the P/E ratio, further weigh down the score.

To see Spark’s full report on VELO stock, click here.

More about Velo3D

Velo3D, Inc. is a U.S.-based metal 3D printing and additive manufacturing technology company focused on mission-critical metal parts. Its fully integrated solution—combining Flow print preparation software, the Sapphire family of printers, and the Assure quality control system powered by its Intelligent Fusion process—targets high-value applications in space exploration, aviation, power generation, energy, and semiconductors, where it enables production of complex components that were previously difficult or impossible to manufacture.

Average Trading Volume: 951,774

Technical Sentiment Signal: Sell

Current Market Cap: $226.5M

For an in-depth examination of VELO stock, go to TipRanks’ Overview page.