Velo3D (VELO)
NASDAQ:VELO
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Velo3D
(NASDAQ:VELO)
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Rating:52Neutral
Price Target:
$17.00
▲(50.98% Upside)
Action:Reiterated
Date:05/14/26
The score is held down primarily by weak financial performance—large losses and substantial cash burn—despite some revenue improvement. Strong technical momentum supports the rating, while valuation is constrained by negative earnings and the lack of a dividend. Corporate events are a modest positive due to improved quarterly operating metrics and liquidity actions, partially offset by dilution risk.
Positive Factors
Proprietary technology & software
Velo3D's integrated Sapphire hardware and proprietary Flow/Assure software form a high-barrier solution for complex, regulated metal parts. This vertical tech stack supports repeatable quality, drives consumables/services follow-on revenue and differentiates the company in aerospace/defense markets.
Negative Factors
Severe cash burn
Extremely negative operating and free cash flow versus a modest revenue base signals unsustainable cash burn without continual external financing. This structural cash deficit constrains strategic flexibility, forces dilution or debt use, and raises execution risk when scaling to profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary technology & software
Velo3D's integrated Sapphire hardware and proprietary Flow/Assure software form a high-barrier solution for complex, regulated metal parts. This vertical tech stack supports repeatable quality, drives consumables/services follow-on revenue and differentiates the company in aerospace/defense markets.
Read all positive factors
Velo3D (VELO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$551.62M
Dividend YieldN/A
Average Volume (3M)704.33K
Price to Earnings (P/E)―
Beta (1Y)-4.77
Revenue Growth24.50%
EPS Growth94.28%
CountryUS
Employees105
SectorTechnology
Sector Strength88
IndustryComputer Hardware
Share Statistics
EPS (TTM)-2.98
Shares Outstanding29,801,003
10 Day Avg. Volume1,511,419
30 Day Avg. Volume704,333
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)<0.01
Price to Sales (P/S)4.93
P/FCF Ratio>-0.01
Enterprise Value/Market Cap-23.69
Enterprise Value/Revenue-258.97
Enterprise Value/Gross Profit2.28K
Enterprise Value/Ebitda339.69
Forecast
1Y Price Target
$20.00Price Target Upside77.62% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-1.4
Revenue Forecast (FY)$64.10M
Velo3D Business Overview & Revenue Model
Company Description
Velo3D, Inc. produces and sells metal additive three dimensional printers in the Americas, Europe, and internationally. The company's printers enable the production of components for space rockets, jet engines, fuel delivery systems, and other met...
How the Company Makes Money
Velo3D generates revenue primarily by selling its metal additive manufacturing systems (capital equipment) and associated components, and by providing ongoing, recurring and service-related offerings tied to the installed base. Key revenue streams...
Velo3D Earnings Call Summary
Earnings Call Date:May 13, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Neutral
The earnings call reflects a company in a transformative growth phase with positive developments such as the launch of RPS, improved financial discipline, and a clear path to profitability. Despite challenges like a slight revenue decline and ongoing net losses, the strategic initiatives in place suggest a cautiously optimistic future.Positive Updates
Positive Gross Margin Achieved
Velo3D reported a positive gross margin of 7.5% in Q1 2025, reflecting improvements in cost optimization and pricing strategies, a significant turnaround from a negative gross margin in the prior year.
Negative Updates
Revenue Decline
First quarter revenue was $9.3 million, a decrease of 4.8% compared to the same quarter in the previous year, driven by a modest decrease in system sales as the company focuses on high-value customers.
Read all updates
Q1-2025 Updates
Positive
Negative
Positive Gross Margin Achieved
Velo3D reported a positive gross margin of 7.5% in Q1 2025, reflecting improvements in cost optimization and pricing strategies, a significant turnaround from a negative gross margin in the prior year.
Read all positive updates
Company Guidance
During the Velo3D First Quarter 2025 Conference Call, the company provided several key metrics regarding their financial performance and strategic direction. The first quarter revenue was reported at $9.3 million, representing a 4.8% decrease compared to the previous year, primarily due to a strategic focus on high-value customers. Gross margin improved significantly to 7.5% from a negative figure in the prior year, driven by higher absorption of fixed costs and the contribution of Rapid Production Solutions (RPS) to revenue. The company reported a backlog of $18 million as of March 31, 2025, indicating committed orders expected over the next 12 months. Additionally, the company reiterated its 2025 full-year guidance, projecting revenue between $50 million and $60 million, with gross margins expected to exceed 30% by year-end. Non-GAAP operating expenses were reduced to $8.8 million from $14.1 million in the previous year, reflecting cost optimization efforts. Velo3D aims for EBITDA profitability by the first half of 2026, leveraging improved average selling prices and operational efficiency.Velo3D Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
42
Neutral
Cash Flow
9
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 50.47M | 45.97M | 41.00M | 77.44M | 78.71M | 27.44M |
| Gross Profit | -5.72M | -7.40M | -2.08M | -26.27M | 843.00K | 4.96M |
| EBITDA | -38.48M | -63.50M | -52.44M | -116.11M | 13.63M | -50.35M |
| Net Income | -52.95M | -71.36M | -73.30M | -135.14M | 7.97M | 10.20M |
Balance Sheet | ||||||
| Total Assets | 92.40B | 105.35B | 89.18M | 153.80M | 223.06M | 302.72M |
| Cash, Cash Equivalents and Short-Term Investments | 16.56B | 39.01B | 1.21M | 31.11M | 80.20M | 223.09M |
| Total Debt | 3.13B | 6.30B | 15.92M | 45.57M | 22.85M | 19.51M |
| Total Liabilities | 40.86B | 67.19B | 49.52M | 85.46M | 84.27M | 192.30M |
| Stockholders Equity | 51.54B | 38.16B | 39.66M | 68.34M | 138.79M | 110.42M |
Cash Flow | ||||||
| Free Cash Flow | -18.94B | -30.35B | -32.69M | -108.85M | -143.38M | -74.50M |
| Operating Cash Flow | -17.99B | -27.64B | -32.68M | -105.64M | -123.96M | -56.40M |
| Investing Cash Flow | -942.72M | -2.71B | 7.77M | 38.89M | -53.02M | -33.59M |
| Financing Cash Flow | -3.48B | 68.14B | 1.46M | 59.26M | 1.34M | 282.89M |
Velo3D Technical Analysis
Positive
11.26
Price Trends
13.35
Positive
13.74
Positive
9.60
Positive
Market Momentum
1.55
Negative
59.92
Neutral
64.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VELO, the sentiment is Positive. The current price of 11.26 is below the 20-day moving average (MA) of 15.51, below the 50-day MA of 13.35, and above the 200-day MA of 9.60, indicating a bullish trend. The MACD of 1.55 indicates Negative momentum. The RSI at 59.92 is Neutral, neither overbought nor oversold. The STOCH value of 64.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for VELO.
Velo3D Risk Analysis
Velo3D disclosed 68 risk factors in its most recent earnings report. Velo3D reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Velo3D Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $87.49M | 55.60 | 11.26% | ― | 15.26% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | $372.88M | -17.95 | -59.94% | ― | -21.32% | -113.45% | |
52 Neutral | $551.62M | -8.39 | -0.24% | ― | 24.50% | 94.28% | |
52 Neutral | $264.20M | -11.60 | -21.46% | ― | 122.12% | 45.07% | |
46 Neutral | $50.29M | -0.34 | -142.33% | ― | -7.72% | -7.28% |
* Technology Sector Average
VELO
Velo3D
18.51
13.11
242.78%
IDN
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4.32
0.08
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QUIK
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20.46
15.12
283.15%
DUOT
Duos Technologies Group
9.01
1.79
24.79%
WBX
Wallbox
2.80
-2.75
-49.53%
Velo3D Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Velo3D Refreshes At-the-Market Equity Sales Program
Neutral
May 15, 2026
On May 15, 2026, Velo3D, Inc. entered into a new sales agreement with Needham Company, Cantor Fitzgerald Co. and Craig‑Hallum Capital Group, allowing it to issue up to $100 million of common stock from time to time under an existing shelf ...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and Financing
Velo3D Reports Strong Q1 Growth and Improved Profitability
Positive
May 12, 2026
On May 12, 2026, Velo3D reported first‑quarter 2026 results showing a 48% year‑on‑year revenue jump to $13.8 million, driven by higher 3D printer and parts sales and improved pricing, while gross margin turned positive at 17.2%. ...
Business Operations and StrategyPrivate Placements and Financing
Velo3D Announces $50 Million Underwritten Direct Stock Offering
Positive
Apr 27, 2026
On April 27, 2026, Velo3D, Inc. priced a firm commitment underwritten registered direct offering of 3,571,428 shares of common stock at $14.00 per share, for expected gross proceeds of about $50 million before fees and expenses. The deal, managed ...
Executive/Board Changes
Velo3D Appoints James Suva as New Chief Financial Officer
Positive
Apr 7, 2026
On March 20, 2026, Velo3D, Inc.’s board of directors appointed James Suva as Chief Financial Officer and principal financial and accounting officer, with his role effective April 6, 2026. In connection with the appointment, Suva signed an of...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Velo3D Names New CFO Amid Ongoing Growth Challenges
Negative
Mar 24, 2026
On March 20, 2026, Velo3D’s board appointed former Cricut executive and veteran Citibank technology analyst James Suva as chief financial officer and principal financial and accounting officer, effective April 6, 2026. He succeeds acting CFO...
Business Operations and StrategyPrivate Placements and Financing
Velo3D Amends Insider-Backed Convertible Notes for Flexibility
Positive
Mar 6, 2026
On January 7 and February 10, 2025, Velo3D, Inc. issued senior secured convertible promissory notes totaling $15 million to entities controlled by director Kenneth Thieneman, which were later amended on August 14, 2025, to extend maturities to Feb...
Executive/Board Changes
Velo3D Sets Aggressive New Compensation Plan for CEO
Positive
Feb 20, 2026
On February 13, 2026, Velo3D’s board compensation committee approved updated pay terms for Chief Executive Officer Arun Jeldi, retroactive to January 1, 2026. His new package sets an annual base salary of $650,000 and an annual performance&#...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.