Velo3D Awarded $9.8 Million Multi-year Department of War Contract Supporting the Defense Logistics Agency Accessibility StatementSkip Navigation The contract establishes a flexible, rapid vehicle to acquire additively manufactured components for the nation's largest military logistics agency FREMONT, Calif., March 30, 2026 /PRNewswire/ -- Velo3D, Inc. (NASDAQ: VELO), an industry leading metal additive manufacturing company has been awarded a $9.8 million, five-year Indefinite Delivery Indefinite Quantit ...

Core Viewpoint - Velo3D has appointed James Suva as the new Chief Financial Officer, effective April 6, 2026, to enhance its financial leadership and support its strategic priorities in the additive manufacturing sector [1][3][4]. Company Leadership - James Suva replaces Bernard Chung, who served as Acting Chief Financial Officer since December 31, 2025, and will continue as the Company's Controller [2]. - Suva brings over 20 years of experience in capital markets and technology, previously serving as Senior Vice President and Treasurer at Cricut [3]. Strategic Importance - The appointment of Suva is seen as critical for Velo3D as it aims to execute its strategic priorities in the additive manufacturing industry, which is pivotal for sectors like aerospace and defense [4]. - The CEO of Velo3D expressed excitement about Suva's extensive experience and its relevance to the company's growth and innovation in metal additive manufacturing [4]. Company Overview - Velo3D specializes in metal 3D printing technology, which has the potential to revolutionize the production of high-value metal parts [5]. - The company has developed solutions that allow for greater design freedom, enabling customers in various industries, including space exploration and energy, to manufacture previously impossible parts [5]. - Velo3D's integrated solution includes Flow print preparation software, the Sapphire family of printers, and the Assure quality control system, all powered by its Intelligent Fusion manufacturing process [5].

Core Insights - Velo3D reported a strong demand for its Rapid Production Solutions, achieving double-digit revenue growth in 2025 and setting a new record for bookings in Q4 2025 [2][3] - The company has a robust backlog of $31 million as of December 31, 2025, and expects revenue for 2026 to be between $60 million and $70 million [3][10] - Velo3D aims to become EBITDA positive in the second half of 2026, supported by a long-term capacity plan envisioning up to approximately 400 production systems over the next decade [3][5] Financial Performance - Full-year 2025 revenue was $46 million, a 12% increase from $41 million in 2024, with 3D printer and parts revenue increasing by 54% [10][14] - Q4 2025 revenue was $9.4 million, down from $12.6 million in Q4 2024, primarily due to a decrease in 3D printer and parts revenue [6][10] - The gross margin for 2025 was (16.1)%, compared to (5.1)% in 2024, impacted by a $7 million write-down of obsolete inventory [12][14] Operational Developments - The company secured a $32.6 million contract from the Department of War for Project FORGE and an $11.5 million multiyear contract for Rapid Production Solutions [4] - Velo3D qualified as the first additive manufacturing vendor to support the U.S. Army's Ground Vehicle Systems Center qualification initiative, enhancing its position in the defense sector [4] - The company raised $30 million through a private placement and completed a $15 million debt-to-equity conversion, reducing outstanding debt by 60% [4][5] Future Outlook - Management anticipates a sequential improvement in gross margin, targeting greater than 30% in the second half of 2026 [15] - The company plans to explore additional capital raising and potential M&A opportunities to support its growth strategy and expand its defense and aerospace program portfolio [5][12] - Velo3D's long-term capacity plan is designed to meet increasing demand as contracts grow and new programs come online, creating a compounding growth profile [5][10]

Core Viewpoint - Velo3D's CEO, Dr. Arun Jeldi, has acquired and converted $5 million of the company's debt into equity at a price of $16.38 per share, significantly above the current market price, which reflects confidence in the company's long-term value and results in a 60% reduction of the company's outstanding debt to approximately $10 million [1][1][1] Company Actions - The CEO's acquisition and conversion of debt into equity demonstrates a strong belief in Velo3D's future potential and aims to enhance shareholder value [1][1] - An additional conversion of a $10 million promissory note by director Ken Thieneman at $10.50 per share further contributes to the company's debt reduction strategy [1][1] Financial Impact - The total outstanding debt of Velo3D has been reduced by 60%, now standing at around $10 million, which positions the company for better financial health as it enters fiscal 2026 [1][1][1] Industry Context - Velo3D is recognized as a leader in additive manufacturing technology, particularly in the aerospace and defense sectors, providing innovative solutions for high-value metal parts [1][1] - The company's technology enables significant design freedom and manufacturing capabilities for critical components in various industries, including space exploration and energy [1][1]

Core Viewpoint - Velo3D, a leader in additive manufacturing technology, is set to announce its fourth quarter and fiscal year 2025 financial results on March 24, 2026, highlighting its ongoing innovation in metal 3D printing for various industries [1]. Company Overview - Velo3D specializes in metal additive manufacturing, transforming aerospace and defense supply chains through advanced technology [1]. - The company has developed solutions that overcome limitations of legacy metal AM, allowing for the design and production of previously impossible metal parts [1]. - Velo3D's integrated solution includes Flow print preparation software, the Sapphire® family of printers, and the Assure quality control system, all powered by the Intelligent Fusion® manufacturing process [1]. Industry Impact - Velo3D's technology enables customers in sectors such as space exploration, aviation, power generation, energy, and semiconductors to innovate and create mission-critical components [1]. - The company has established partnerships with notable innovators like Honeywell, Honda, Chromalloy, and Lam Research, indicating its strong position in the market [1]. - Velo3D was recognized as one of Fast Company's Most Innovative Companies for 2024, underscoring its impact and leadership in the additive manufacturing industry [1].

Core Insights - Velo3D has secured an $11.5 million multi-year full rate production contract from a key U.S. defense contractor to support a national security program [1] - The contract highlights Velo3D's capabilities in additive manufacturing, specifically using its Rapid Production Solution (RPS) and Laser Powder Bed Fusion (LPBF) technology [1] - Velo3D's printers can produce high-performance components quickly and at a lower cost compared to traditional manufacturing methods [1] Company Overview - Velo3D specializes in additive manufacturing technology for mission-critical metal components, overcoming limitations of legacy metal AM technology [1] - The company provides a fully integrated solution that includes Flow print preparation software, Sapphire® printers, and Assure quality control system, powered by Intelligent Fusion® manufacturing process [1] - Velo3D has been recognized as one of Fast Company's Most Innovative Companies for 2024 [1] Contract Details - The contract is aimed at delivering essential system components for a sensitive national security program entering full-rate production [1] - Velo3D's Sapphire® printers are capable of printing parts up to 600mm in diameter and one meter in height, significantly expanding production capabilities [1] - The contract reflects the trust and confidence that customers have in Velo3D to meet evolving demands through faster part delivery and enhanced reliability [1]

Core Insights - Velo3D has been selected as the first qualified additive manufacturing vendor for the U.S. Army's Ground Vehicle Systems Center, aimed at accelerating qualified AM solutions within the Defense Industrial Base [1] - The partnership will focus on developing and validating complex additively manufactured parts to address supply chain challenges for military systems [1] - Velo3D met all qualification criteria in less than two weeks, demonstrating its advanced AM technology and robust process capabilities [1] Company Overview - Velo3D specializes in additive manufacturing technology for mission-critical metal parts, providing solutions that enhance design freedom and manufacturing capabilities [1] - The company's Sapphire printers can produce parts up to 600mm in diameter and one meter in height, significantly expanding production capabilities [1] - Velo3D's systems comply with Department of War cybersecurity standards, ensuring secure connections to military networks [1] Partnership with U.S. Army - The collaboration with the U.S. Army's DEVCOM GVSC aims to validate critical components using Velo3D's Sapphire printers in materials like Aluminum CP1 and Inconel 718 [1] - Successful validation will allow Velo3D's AM alternatives to be integrated into the Army's supply chain, addressing current sustainment bottlenecks [1] - The partnership is part of a broader effort to advance sustainment technologies rapidly, reflecting the urgency of military needs [1]

Core Insights - Velo3D, Inc. has secured a $32.6 million contract with the U.S. Department of War's Defense Innovation Unit to support Project FORGE, aimed at addressing manufacturing bottlenecks in critical defense systems [1][2][3] Group 1: Project FORGE and Contract Details - The contract supports DIU's Project FORGE, which focuses on resolving manufacturing bottlenecks in the U.S. defense industrial base [1] - Velo3D will collaborate with DIU, the U.S. Navy, and a key industry partner to prototype and qualify additively manufactured components [1][2] - The agreement includes an option to develop the largest format Laser Powder Bed Fusion (LPBF) printing capability in the U.S. [2] Group 2: Velo3D's Technology and Capabilities - Velo3D's Rapid Production Solution (RPS) enables quick prototyping and scalable production of mission-critical components [2][3] - The company's Sapphire® printers can produce parts up to 600mm in diameter and one meter in height, enhancing production capabilities [3] - Velo3D's systems meet Department of Defense cybersecurity standards, ensuring secure manufacturing operations [4] Group 3: Industry Context and Importance - The collaboration between DIU and Velo3D is seen as essential for addressing critical production backlogs in defense manufacturing [2] - Velo3D's technology allows for greater design freedom and the production of previously impossible metal parts, benefiting various industries including aerospace and energy [8] - The partnership aims to strengthen the U.S. defense industrial base by integrating advanced commercial technologies [5]

Core Insights - Velo3D, Inc. reported significant progress in operational efficiency and growth potential, particularly in its Rapid Production Services (RPS) which has led to repeat orders and new customer signings in the aerospace and defense sectors [3][5]. Financial Performance - The company achieved GAAP revenue of $13.6 million in Q3 2025, up from $8.2 million in Q3 2024, reflecting a year-over-year increase of approximately 66% [4]. - GAAP gross margin decreased to 3.2% in Q3 2025 from 49.4% in Q3 2024, primarily due to a one-off license revenue in the previous year [4][7]. - The GAAP net loss narrowed to $11.8 million in Q3 2025 compared to a loss of $23.1 million in Q3 2024 [4][7]. - Non-GAAP net loss was $9.2 million for Q3 2025, an improvement from $14.5 million in Q3 2024 [4][7]. Operational Highlights - The backlog as of September 30, 2025, stood at $21.1 million, indicating strong demand for the company's services [5]. - The company reaffirmed its revenue guidance for 2025 to be between $50 million and $60 million, with expectations of achieving positive EBITDA in the first half of 2026 [5][12]. - The RPS backlog increased by 22% quarter-over-quarter, with 48% of bookings coming from the Space and Defense sector [6]. Strategic Developments - Velo3D completed its uplisting to the Nasdaq Capital Market and raised approximately $17.5 million through a public offering of 5,833,333 shares at $3.00 per share [6]. - The company signed significant agreements, including a $6 million contract to develop copper-nickel alloy for the U.S. Navy and partnerships with the U.S. Army and Linde AMT [6][7]. - Velo3D achieved AS9100D certification for its RPS Quality Management System, affirming compliance with stringent aerospace standards [6]. Cash Position - As of September 30, 2025, Velo3D had cash and cash equivalents of $11.8 million, a substantial increase from $1.2 million at the end of 2024 [8].

Core Insights - Velo3D, Inc. will release its Q3 2025 financial results on November 10, 2025, after market close [1] - An earnings conference call will be held on the same day at 2:00 p.m. Pacific Time [2] - The company is recognized for its advanced metal additive manufacturing technology, which is transforming aerospace and defense supply chains [1][4] Company Overview - Velo3D specializes in metal 3D printing technology, also known as additive manufacturing (AM), which enhances the production of high-value metal parts [4] - The company has addressed limitations of legacy metal AM technology, enabling the design and production of previously impossible parts [5] - Velo3D's integrated solution includes Flow print preparation software, the Sapphire family of printers, and the Assure quality control system, all powered by the Intelligent Fusion manufacturing process [5] Industry Impact - Velo3D's technology supports innovation in various sectors, including space exploration, aviation, power generation, energy, and semiconductors [5] - The company has established partnerships with notable innovators such as SpaceX, Honeywell, Honda, Chromalloy, and Lam Research [5] - Velo3D was named one of Fast Company's Most Innovative Companies for 2024, highlighting its impact in the industry [5]