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Financials · VELO

Velo3D Inc. (VELO) financials

For the twelve months ended Jun 30, 2026, Velo3D Inc. reported $57.56M of revenue and -$51.59M of net income.

Revenue, TTM
$57.56M
Revenue growth, YoY
+31.5%
Net income, TTM
-$51.59M
Net margin
-89.6%
Free cash flow, TTM
-$58.67M
Cash
$91.14M
Total debt
$8.17M
P/S
3.37
Market cap
$194.2M
Annual revenue$45.97M
FY2020FY2025
Annual net income-$71.36M
FY2020FY2025
Annual free cash flow-$30.04M
FY2020FY2025

VELO revenue and earnings growth

VELO revenueQ2 2026$20.66M

Quarter YoY
+52.3%
QoQ
+49.6%
FY YoY
+12.1%
5Y CAGR
+19.4%

VELO revenue was $20.66M in fiscal Q2 2026 (ended Jun 30, 2026), up 52.3% from a year earlier and up 49.6% from the prior quarter. For the full fiscal 2025 it was $45.97M, up 12.1% from fiscal 2024. Compound annual growth was +19.4% over 5 years. It rose in 3 of the last 5 fiscal years.

VELO net incomeQ2 2026-$11.51M

VELO net income was -$11.51M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$13.26M a year earlier. For the full fiscal 2025 it was -$71.36M, compared with -$69.74M in fiscal 2024.

VELO EPSQ2 2026-$0.39

VELO diluted EPS was -$0.39 in fiscal Q2 2026 (ended Jun 30, 2026). For the full fiscal 2025 it was -$4.33.

VELO free cash flowQ2 2026-$25.07M

VELO free cash flow was -$25.07M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$3.02M a year earlier. For the full fiscal 2025 it was -$30.04M, compared with -$32.69M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
Revenue$45.97M$41.00M$77.44M$78.71M$27.44M$18.98M
Cost of revenue$53.38M$43.09M$103.71M$77.86M$22.48M$12.61M
Gross profit-$7.40M-$2.08M-$26.27M$843.0K$4.96M$6.37M
Research and development$10.65M$15.48M$42.03M$46.27M$27.00M$14.19M
Selling, general and admin$30.10M$48.37M$41.73M$36.98M$23.35M$6.38M
Operating income-$54.92M-$78.79M-$133.25M-$106.31M-$57.76M-$21.21M
Interest expense$4.36M$15.97M$9.72M$372.0K$2.74M$639.0K
Pre-tax income-$71.25M-$69.76M-$135.14M$7.97M-$107.09M-$21.81M
Income tax$117.0K-$20.0K$0$0$0$0
Net income-$71.36M-$69.74M-$135.14M$7.97M-$107.09M-$21.81M
EPS, basic-$4.33-$82.32-$359.55$20.60-$937.30-$288.40
EPS, diluted-$4.33-$82.32-$359.55$20.60-$937.30-$288.40
Diluted shares16.5M847,265375,921.4392,572.627113,958.24530,347.92

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
Cash and equivalents$39.01M$1.84M$25.29M$32.78M$208.40M$15.52M
Short-term investments--$6.62M$48.21M$15.48M$0
Receivables$6.26M$3.72M$9.58M$9.19M$12.78M$1.23M
Inventory$27.08M$49.95M$60.82M$71.20M$22.48M$7.31M
Current assets$80.12M$57.72M$113.02M$171.52M$268.07M$27.90M
Total assets$105.35M$89.18M$153.80M$223.06M$302.72M$32.69M
Current liabilities$33.80M$38.00M$48.67M$46.05M$46.66M$12.13M
Short-term debt-$5.67M----
Total debt$31.02M$5.67M$44.00M$8.36M--
Total liabilities$67.19M$49.52M$85.46M$84.27M$192.30M$16.81M
Shareholders' equity$38.16M$39.66M$68.34M$138.79M$110.42M-$107.82M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
Operating cash flow-$27.33M-$32.68M-$105.64M-$123.96M-$56.40M-$26.45M
Capital expenditures$2.71M$9.0K$1.05M$13.82M$9.62M$401.0K
Free cash flow-$30.04M-$32.69M-$106.68M-$137.78M-$66.02M-$26.85M
Investing cash flow-$2.71M$7.77M$38.89M-$53.02M-$33.59M-$3.43M
Financing cash flow$67.83M$1.46M$59.26M$1.34M$282.89M$35.58M
Stock-based compensation$9.51M$11.81M$24.93M$20.15M$4.37M$1.46M
Depreciation and amortization$3.38M$4.78M$9.31M$5.29M$3.01M$1.24M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
Revenue growth, YoY12.1%-47.1%-1.6%186.8%44.6%-
Gross margin-16.1%-5.1%-33.9%1.1%18.1%33.6%
Operating margin-119.5%-192.2%-172.1%-135.1%-210.5%-111.8%
Net margin-155.2%-170.1%-174.5%10.1%-390.3%-114.9%
Free cash flow margin-65.3%-79.7%-137.8%-175.1%-240.6%-141.5%
Return on equity-187.0%-175.8%-197.7%5.7%-97.0%-
Return on assets-67.7%-78.2%-87.9%3.6%-35.4%-66.7%
Current ratio2.371.522.323.725.752.30
Debt to equity0.810.140.640.06--

Source: XBRL data Velo3D Inc. files with the SEC, latest filing dated Aug 11, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 3-for-103, first reported Aug 14, 2024; 1-for-15, first reported Aug 6, 2025.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

VELO peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
VELO$57.56M+31.5%-$51.59M-89.6%$194.2M
ASML€32.67B+15.6%€9.61B29.4%$581.15B
LRCX$26.13B+33.4%$8.45B32.3%$277.80B
TMO$47.35B+8.3%$7.07B14.9%$266.10B
DE$47.98B+8.0%$4.87B10.2%$185.41B
DHR$25.61B+5.5%$4.33B16.9%$166.11B
ETN$31.98B+20.1%$3.90B12.2%$137.61B
JCI$24.43B+5.1%$3.53B14.5%$85.48B
ITW$16.65B+4.8%$3.23B19.4%$81.86B

VELO FAQ

8 questions
  • What is VELO revenue?
    Velo3D Inc. (VELO) reported $57.56M of revenue for the twelve months ended Jun 30, 2026. That is up 31.5% from the year before. Revenue for fiscal 2025 was $45.97M.
  • Is VELO profitable?
    No. Velo3D Inc. reported a net loss of $51.59M for the twelve months ended Jun 30, 2026.
  • How much cash and debt does VELO have?
    Velo3D Inc. reported $91.14M in cash and cash equivalents and $8.17M of debt on its most recent balance sheet in SEC filings.
  • How fast is VELO revenue growing?
    Velo3D Inc.'s revenue changed +12.1% in fiscal 2025, to $45.97M. Its compound annual growth rate was +19.4% over 5 years.
  • What is VELO gross margin?
    Velo3D Inc.'s gross profit was $310.0K on $57.56M of revenue for the twelve months ended Jun 30, 2026, a gross margin of 0.5%.
  • What is VELO free cash flow?
    Velo3D Inc. generated -$58.67M of free cash flow for the twelve months ended Jun 30, 2026, which is operating cash flow of -$53.30M less capital expenditures.
  • When did VELO last report financial results?
    The latest statements here come from Velo3D Inc.'s 10-Q filed on Aug 11, 2026, covering the period ended Jun 30, 2026.
  • Where does this VELO financial data come from?
    Quantisnow builds these statements from the structured XBRL data Velo3D Inc. files with the SEC. It is provided for information only and is not investment advice.