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Velo3D (VELO) Financials

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$10.44 -0.47 (-4.31%)
As of 04:00 PM Eastern
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Annual Income Statements for Velo3D

Annual Income Statements for Velo3D

This table shows Velo3D's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -8.76 -107 7.97 -135 -70 -71
Consolidated Net Income / (Loss)		 -22 -107 7.97 -135 -70 -71
Net Income / (Loss) Continuing Operations		 -22 -107 7.97 -135 -70 -71
Total Pre-Tax Income 		-22 -107 7.97 -135 -70 -71
Total Operating Income		 -21 -58 -106 -133 -79 -55
Total Gross Profit		 6.37 4.96 0.84 -26 -2.09 -7.40
Total Revenue		 19 26 79 77 41 46
Operating Revenue		 19 26 79 77 41 46
Total Cost of Revenue		 13 21 78 104 43 53
Operating Cost of Revenue		 13 21 78 104 43 53
Total Operating Expenses		 28 63 107 107 77 48
Selling, General & Admin Expense		 6.38 23 37 42 48 30
Marketing Expense		 7.00 12 24 23 13 6.77
Research & Development Expense		 14 27 46 42 15 11
Impairment Charge		 - - - - 0.00 0.00
Total Other Income / (Expense), net		 -0.60 -49 114 -1.89 9.03 -16
Interest Expense		 0.64 53 0.37 29 21 4.36
Other Income / (Expense), net		 0.04 3.99 115 27 30 -12
Income Tax Expense		 0.00 0.00 0.00 0.00 -0.02 0.12
Basic Earnings per Share		 ($0.56) ($1.82) $0.04 ($23.97) ($82.32) ($4.33)
Weighted Average Basic Shares Outstanding		 15.63M 58.69M 185.08M 5.64M 847.27K 16.49M
Diluted Earnings per Share		 ($0.56) ($1.82) $0.04 ($23.97) ($82.32) ($4.33)
Weighted Average Diluted Shares Outstanding		 15.63M 58.69M 202.17M 5.64M 847.27K 16.49M
Weighted Average Basic & Diluted Shares Outstanding		 - 183.56M 192.39M 261.70M 210.23M 26.22M

Quarterly Income Statements for Velo3D

This table shows Velo3D's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -56 -28 -0.17 -23 -18 -25 -13 -12 -20 -7.00 -12
Consolidated Net Income / (Loss)		 -56 -28 -0.17 -23 -18 -25 -13 -12 -20 -7.00 -12
Net Income / (Loss) Continuing Operations		 -56 -28 -0.17 -23 -18 -25 -13 -12 -20 -7.00 -12
Total Pre-Tax Income 		-56 -28 -0.18 -23 -18 -25 -13 -12 -20 -6.97 -12
Total Operating Income		 -57 -21 -21 -19 -18 -12 -12 -11 -20 -6.95 -11
Total Gross Profit		 -31 -2.82 -2.90 4.07 -0.44 0.70 -1.59 0.43 -6.95 2.38 4.44
Total Revenue		 2.46 9.79 10 8.25 13 9.32 14 14 9.44 14 21
Operating Revenue		 2.46 9.79 10 8.25 13 9.32 14 14 9.44 14 21
Total Cost of Revenue		 34 13 13 4.18 13 8.62 15 13 16 11 16
Operating Cost of Revenue		 34 13 13 4.18 13 8.62 15 13 16 11 16
Total Operating Expenses		 26 19 18 23 18 12 10 11 13 9.33 16
Selling, General & Admin Expense		 11 8.78 8.81 15 15 9.08 5.95 6.04 8.89 4.91 8.32
Marketing Expense		 5.18 4.81 4.27 3.10 0.68 1.09 1.47 1.98 0.89 1.72 2.85
Research & Development Expense		 9.89 5.04 4.55 4.44 1.46 2.06 2.59 3.04 3.55 2.70 4.33
Total Other Income / (Expense), net		 1.29 -6.86 20 -4.25 -0.21 -13 -1.58 -1.21 -0.06 -0.03 -0.46
Interest Expense		 26 3.90 5.46 11 0.43 1.07 1.57 1.20 0.52 0.73 0.18
Other Income / (Expense), net		 27 -2.96 26 6.84 0.22 -12 -0.01 -0.01 0.47 0.71 -0.28
Income Tax Expense		 - 0.00 -0.00 0.00 -0.02 0.01 0.09 -0.01 0.03 0.03 -0.01
Basic Earnings per Share		 ($9.96) ($3.81) ($0.30) ($37.54) ($21.40) ($1.87) ($0.94) ($0.69) ($1.24) ($0.28) ($0.39)
Weighted Average Basic Shares Outstanding		 5.64M 7.44M 565.03K 616.03K 847.27K 13.40M 14.04M 17.12M 16.49M 25.02M 29.45M
Diluted Earnings per Share		 ($9.96) ($3.81) ($0.30) ($37.54) ($21.40) ($1.87) ($0.94) ($0.69) ($1.24) ($0.28) ($0.39)
Weighted Average Diluted Shares Outstanding		 5.64M 7.44M 565.03K 616.03K 847.27K 13.40M 14.04M 17.12M 16.49M 25.02M 29.45M
Weighted Average Basic & Diluted Shares Outstanding		 261.70M 296.19M 8.62M - 210.23M 210.23M 14.07M 20.91M 26.22M 29.80M 32.15M

Annual Cash Flow Statements for Velo3D

This table details how cash moves in and out of Velo3D's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 5.70 193 -176 -7.49 -23 38
Net Cash From Operating Activities		 -26 -56 -124 -106 -33 -27
Net Cash From Continuing Operating Activities		 -26 -56 -124 -106 -33 -27
Net Income / (Loss) Continuing Operations		 -22 -107 7.97 -135 -70 -71
Consolidated Net Income / (Loss)		 -22 -107 7.97 -135 -70 -71
Depreciation Expense		 1.24 3.01 5.29 9.31 4.78 3.38
Amortization Expense		 0.00 - - 0.00 14 0.19
Non-Cash Adjustments To Reconcile Net Income		 -3.43 54 -98 1.69 4.07 31
Changes in Operating Assets and Liabilities, net		 -2.45 -5.95 -39 19 15 9.94
Net Cash From Investing Activities		 -3.43 -34 -53 39 7.77 -2.72
Net Cash From Continuing Investing Activities		 -3.43 -34 -53 39 7.77 -2.72
Purchase of Property, Plant & Equipment		 -0.40 -9.62 -14 -1.05 -0.01 -2.72
Sale of Property, Plant & Equipment		 - - - 0.00 0.02 0.00
Sale and/or Maturity of Investments		 - 0.00 54 46 6.67 0.00
Other Investing Activities, net		 -3.03 -8.48 -5.60 -2.16 1.08 0.00
Net Cash From Financing Activities		 36 283 1.34 59 1.46 68
Net Cash From Continuing Financing Activities		 36 283 1.34 59 1.46 68
Repayment of Debt		 -0.42 -28 -8.98 -45 -12 -2.94
Issuance of Debt		 7.79 27 6.66 80 13 15
Issuance of Common Equity		 0.00 155 0.00 23 0.00 50
Other Financing Activities, net		 0.05 128 3.66 2.16 0.71 5.65
Cash Interest Paid		 0.46 1.42 0.37 9.72 1.18 1.13
Cash Income Taxes Paid		 - - - - 0.00 0.12

Quarterly Cash Flow Statements for Velo3D

This table details how cash moves in and out of Velo3D's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -34 -17 -5.29 -0.83 -0.60 2.66 -3.02 11 27 -22 78
Net Cash From Operating Activities		 -25 -21 -7.97 -1.97 -2.21 -12 -1.22 -6.03 -7.74 -18 -22
Net Cash From Continuing Operating Activities		 -25 -21 -7.97 -1.97 -2.21 -12 -1.22 -6.03 -7.74 -18 -22
Net Income / (Loss) Continuing Operations		 -56 -28 -0.17 -23 -18 -25 -14 -12 -20 -7.00 -12
Consolidated Net Income / (Loss)		 -56 -28 -0.17 -23 -18 -25 -14 -12 -20 -7.00 -12
Depreciation Expense		 2.88 1.40 1.31 1.24 0.83 1.00 0.78 0.77 0.89 0.76 0.71
Non-Cash Adjustments To Reconcile Net Income		 -10 6.03 -21 20 -1.35 15 5.03 -2.08 12 -0.13 -5.45
Changes in Operating Assets and Liabilities, net		 39 -2.80 6.57 0.73 10 -3.61 5.16 5.98 3.36 -12 -5.30
Net Cash From Investing Activities		 7.84 3.49 2.47 0.68 1.12 0.00 -1.80 -0.31 -0.60 -0.94 -3.52
Net Cash From Continuing Investing Activities		 7.84 3.49 2.47 0.68 1.12 0.00 -1.80 -0.31 -0.60 -0.94 -3.52
Purchase of Property, Plant & Equipment		 0.03 -0.01 -0.00 -0.02 0.02 0.00 -1.80 -0.31 -0.60 -0.94 -3.52
Net Cash From Financing Activities		 -17 0.29 0.21 0.47 0.50 15 - 17 36 -3.54 103
Net Cash From Continuing Financing Activities		 -17 0.29 0.21 0.47 0.50 15 - 17 36 -3.54 103
Repayment of Debt		 -21 0.00 -11 -1.25 - 0.00 - -0.50 -2.44 -3.04 -1.51
Other Financing Activities, net		 0.15 0.29 0.03 12 -12 0.00 - -2.30 7.95 -0.50 110
Cash Interest Paid		 8.60 0.56 0.21 0.42 0.00 0.20 0.55 0.10 0.28 0.38 0.23

Annual Balance Sheets for Velo3D

This table presents Velo3D's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 33 303 223 154 89 105
Total Current Assets		 28 268 172 113 58 80
Cash & Equivalents		 16 208 32 24 1.21 39
Accounts Receivable		 1.23 13 9.19 9.58 3.72 6.26
Inventories, net		 7.31 22 71 61 50 27
Prepaid Expenses		 0.81 9.46 5.53 4.00 2.34 5.72
Other Current Assets		 3.03 0.27 5.40 7.51 0.50 2.04
Plant, Property, & Equipment, net		 1.01 10 20 16 14 13
Total Noncurrent Assets		 3.79 25 32 24 17 12
Noncurrent Note & Lease Receivables		 2.86 8.37 9.07 6.67 3.67 1.63
Other Noncurrent Operating Assets		 0.93 16 23 18 14 11
Total Liabilities & Shareholders' Equity		 33 303 223 154 89 105
Total Liabilities		 17 192 84 85 50 67
Total Current Liabilities		 12 47 46 49 38 34
Accounts Payable		 1.23 9.88 12 16 19 10
Accrued Expenses		 2.51 9.41 16 6.49 3.51 7.92
Other Current Liabilities		 4.70 22 15 26 16 16
Total Noncurrent Liabilities		 4.68 146 38 37 12 33
Long-Term Debt		 4.32 2.96 5.42 12 0.00 25
Other Noncurrent Operating Liabilities		 0.37 143 33 25 12 8.68
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -108 110 139 68 40 38
Total Preferred & Common Equity		 -108 110 139 68 40 38
Total Common Equity		 -108 110 139 68 40 38
Common Stock		 15 340 362 425 466 536
Retained Earnings		 -123 -230 -222 -357 -427 -498
Accumulated Other Comprehensive Income / (Loss)		 0.00 -0.01 -0.84 -0.10 0.00 0.00

Quarterly Balance Sheets for Velo3D

This table presents Velo3D's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 207 230 136 117 111 91 79 94 92 200
Total Current Assets		 158 184 98 82 80 62 49 59 65 156
Cash & Equivalents		 29 58 7.75 2.46 1.64 3.87 0.85 12 17 91
Accounts Receivable		 14 13 12 8.34 10 4.57 5.39 6.67 6.73 8.36
Inventories, net		 78 81 63 60 62 46 38 35 28 28
Prepaid Expenses		 2.86 2.52 3.08 2.29 1.93 5.91 2.78 1.83 9.65 17
Other Current Assets		 15 16 9.91 8.86 4.03 1.30 1.45 3.44 4.12 12
Plant, Property, & Equipment, net		 18 17 15 14 13 14 15 12 16 16
Total Noncurrent Assets		 31 29 23 20 18 16 14 22 11 28
Noncurrent Note & Lease Receivables		 7.67 7.02 5.48 3.96 3.78 3.67 - 3.02 1.05 1.02
Other Noncurrent Operating Assets		 23 22 17 16 14 12 14 19 9.79 27
Total Liabilities & Shareholders' Equity		 207 230 136 117 111 91 79 94 92 200
Total Liabilities		 96 127 91 65 76 59 57 64 41 54
Total Current Liabilities		 36 99 61 49 63 44 43 38 27 25
Accounts Payable		 18 13 16 14 18 16 15 11 9.09 5.24
Accrued Expenses		 9.37 11 6.24 5.86 5.33 3.76 4.26 13 6.66 4.97
Other Current Liabilities		 5.77 75 39 29 40 24 6.71 14 11 14
Total Noncurrent Liabilities		 61 28 30 16 13 15 14 26 14 29
Long-Term Debt		 19 0.00 2.00 0.00 0.00 5.51 5.56 18 6.04 4.97
Other Noncurrent Operating Liabilities		 41 28 28 16 13 9.12 8.72 8.47 8.21 24
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 111 103 45 52 35 33 22 30 52 147
Total Preferred & Common Equity		 111 103 45 52 35 33 22 30 52 147
Total Common Equity		 111 103 45 52 35 33 22 30 52 147
Common Stock		 390 400 431 438 443 489 491 511 557 663
Retained Earnings		 -279 -297 -385 -386 -408 -456 -470 -481 -505 -517
Accumulated Other Comprehensive Income / (Loss)		 -0.40 -0.25 -0.04 -0.00 0.00 0.00 0.00 0.00 0.00 0.00

Annual Metrics And Ratios for Velo3D

This table displays calculated financial ratios and metrics derived from Velo3D's official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 183,163,826.00 186,418,770.00 200,793,531.00 8,622,216.00 20,912,172.00
DEI Adjusted Shares Outstanding		 0.00 348,883.00 355,083.00 382,464.00 574,814.00 20,912,172.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -306.95 22.44 -353.34 -121.33 -3.41
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% 36.23% 204.47% -1.60% -47.05% 12.12%
EBITDA Growth		 0.00% -154.75% 126.85% -809.10% 68.47% -107.73%
EBIT Growth		 0.00% -154.03% 115.51% -1,370.44% 53.86% -36.79%
NOPAT Growth		 0.00% -172.36% -162.94% 12.26% 40.87% 30.30%
Net Income Growth		 0.00% -391.09% 107.44% -1,795.81% 48.39% -2.32%
EPS Growth		 0.00% -225.00% 102.20% -1,795.81% 48.39% 94.74%
Operating Cash Flow Growth		 0.00% -113.28% -119.78% 14.78% 69.07% 16.37%
Free Cash Flow Firm Growth		 0.00% 0.00% -482.85% 72.76% 41.25% 46.35%
Invested Capital Growth		 0.00% -1,349.85% 163.86% -26.39% -21.79% -37.97%
Revenue Q/Q Growth		 0.00% 0.00% 32.26% -25.28% 32.99% -6.48%
EBITDA Q/Q Growth		 0.00% 0.00% 166.55% -108.07% 35.99% -15.46%
EBIT Q/Q Growth		 0.00% 0.00% 132.66% -93.22% 20.79% 2.15%
NOPAT Q/Q Growth		 0.00% 0.00% -49.71% -33.57% 33.38% 2.17%
Net Income Q/Q Growth		 0.00% 0.00% 129.50% -131.26% 35.28% 1.81%
EPS Q/Q Growth		 0.00% 0.00% 126.67% -131.26% 35.28% -2.12%
Operating Cash Flow Q/Q Growth		 0.00% -49.15% -5.69% 6.45% 40.58% -25.34%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -145.82% 47.40% 43.58%
Invested Capital Q/Q Growth		 0.00% 0.00% -5.14% 56.80% 16.34% -33.77%
Profitability Metrics		 - - - - - -
Gross Margin		 33.55% 19.18% 1.07% -33.92% -5.09% -16.11%
EBITDA Margin		 -105.02% -196.39% 17.32% -124.81% -74.33% -137.71%
Operating Margin		 -111.76% -223.44% -135.07% -172.07% -192.17% -119.46%
EBIT Margin		 -111.56% -208.02% 10.60% -136.83% -119.24% -145.48%
Profit (Net Income) Margin		 -114.92% -414.28% 10.13% -174.50% -170.09% -155.23%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 99.97% 100.16%
Interest Burden Percent		 103.02% 199.15% 95.54% 127.53% 142.69% 106.53%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -177.38% 0.00% 0.00% -160.88% -125.90% -123.41%
ROIC Less NNEP Spread (ROIC-NNEP)		 -84.72% 0.00% 0.00% -69.05% 17.22% 300.93%
Return on Net Nonoperating Assets (RNNOA)		 40.08% 0.00% 0.00% 30.39% -3.25% -60.00%
Return on Equity (ROE)		 -137.30% -169.58% 6.40% -130.48% -129.15% -183.40%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -415.76% -130.47% -101.44% -76.54%
Operating Return on Assets (OROA)		 -64.75% -32.06% 3.17% -56.24% -40.24% -68.76%
Return on Assets (ROA)		 -66.71% -63.86% 3.03% -71.72% -57.41% -73.37%
Return on Common Equity (ROCE)		 932.05% -3.48% 6.40% -130.48% -129.15% -183.40%
Return on Equity Simple (ROE_SIMPLE)		 20.23% -96.99% 5.74% -197.75% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -15 -40 -106 -93 -55 -38
NOPAT Margin		 -78.23% -156.41% -135.07% -120.45% -134.52% -83.62%
Net Nonoperating Expense Percent (NNEP)		 -92.66% -59.91% 79.63% -91.83% -143.12% -424.34%
Return On Investment Capital (ROIC_SIMPLE)		 - - - -116.19% -139.06% -61.15%
Cost of Revenue to Revenue		 66.45% 80.82% 98.93% 133.92% 105.09% 116.11%
SG&A Expenses to Revenue		 33.63% 90.34% 46.99% 53.88% 117.96% 65.47%
R&D to Revenue		 74.77% 104.46% 58.78% 54.27% 37.76% 23.17%
Operating Expenses to Revenue		 145.32% 242.62% 136.15% 138.15% 187.08% 103.36%
Earnings before Interest and Taxes (EBIT)		 -21 -54 8.34 -106 -49 -67
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -20 -51 14 -97 -30 -63
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.00 12.96 2.40 1.17 0.15 7.53
Price to Tangible Book Value (P/TBV)		 0.00 12.96 2.40 1.17 0.15 7.53
Price to Revenue (P/Rev)		 15.81 55.34 4.24 1.03 0.14 6.25
Price to Earnings (P/E)		 0.00 0.00 41.87 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 2.39% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 49.73 0.00 3.92 1.23 0.12 11.45
Enterprise Value to Revenue (EV/Rev)		 21.93 47.02 3.32 0.78 0.11 5.94
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 19.20 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 31.37 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 16.76 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 0.50 0.07 0.06 0.17 0.00 0.65
Long-Term Debt to Equity		 0.27 0.03 0.04 0.17 0.00 0.65
Financial Leverage		 -0.47 -1.76 -1.15 -0.44 -0.19 -0.20
Leverage Ratio		 2.06 2.66 2.11 1.82 2.25 2.50
Compound Leverage Factor		 2.12 5.29 2.02 2.32 3.21 2.66
Debt to Total Capital		 33.51% 6.81% 5.58% 14.87% 0.00% 39.31%
Short-Term Debt to Total Capital		 15.44% 4.32% 1.89% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 18.07% 2.49% 3.69% 14.87% 0.00% 39.31%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 517.89% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -451.40% 93.19% 94.42% 85.13% 100.00% 60.69%
Debt to EBITDA		 -0.40 -0.16 0.60 -0.12 0.00 -0.39
Net Debt to EBITDA		 0.38 4.24 -5.28 0.20 0.00 0.23
Long-Term Debt to EBITDA		 -0.22 -0.06 0.40 -0.12 0.00 -0.39
Debt to NOPAT		 -0.54 -0.20 -0.08 -0.13 0.00 -0.64
Net Debt to NOPAT		 0.51 5.32 0.68 0.21 0.00 0.37
Long-Term Debt to NOPAT		 -0.29 -0.07 -0.05 -0.13 0.00 -0.64
Altman Z-Score		 4.47 3.78 2.13 -3.96 -7.71 -5.19
Noncontrolling Interest Sharing Ratio		 778.85% 97.95% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - -
Current Ratio		 2.30 5.75 3.72 2.32 1.52 2.37
Quick Ratio		 1.38 5.05 1.94 0.84 0.13 1.34
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 73 -278 -76 -44 -24
Operating Cash Flow to CapEx		 -6,595.01% -586.38% -896.85% -10,099.04% 0.00% -1,006.52%
Free Cash Flow to Firm to Interest Expense		 0.00 1.36 -746.52 -2.59 -2.13 -5.46
Operating Cash Flow to Interest Expense		 -41.39 -1.06 -333.23 -3.62 -1.57 -6.26
Operating Cash Flow Less CapEx to Interest Expense		 -42.01 -1.24 -370.39 -3.66 -1.57 -6.88
Efficiency Ratios		 - - - - - -
Asset Turnover		 0.58 0.15 0.30 0.41 0.34 0.47
Accounts Receivable Turnover		 15.40 3.69 7.17 8.25 6.16 9.21
Inventory Turnover		 1.73 1.40 1.66 1.57 0.78 1.39
Fixed Asset Turnover		 18.86 4.68 5.27 4.29 2.68 3.36
Accounts Payable Turnover		 10.28 3.76 7.05 7.39 2.51 3.70
Days Sales Outstanding (DSO)		 23.70 98.91 50.93 44.23 59.22 39.64
Days Inventory Outstanding (DIO)		 211.59 260.21 219.58 232.31 469.16 263.39
Days Payable Outstanding (DPO)		 35.49 97.03 51.77 49.38 145.67 98.60
Cash Conversion Cycle (CCC)		 199.80 262.09 218.73 227.16 382.72 204.43
Capital & Investment Metrics		 - - - - - -
Invested Capital		 8.37 -105 67 49 38 24
Invested Capital Turnover		 2.27 -0.54 -4.16 1.34 0.94 1.48
Increase / (Decrease) in Invested Capital		 0.00 -113 171 -18 -11 -15
Enterprise Value (EV)		 416 1,215 262 61 4.61 273
Market Capitalization		 300 1,431 334 80 5.82 287
Book Value per Share		 ($6.90) $0.60 $0.74 $0.34 $4.60 $1.82
Tangible Book Value per Share		 ($6.90) $0.60 $0.74 $0.34 $4.60 $1.82
Total Capital		 24 118 147 80 40 63
Total Debt		 8.00 8.07 8.20 12 0.00 25
Total Long-Term Debt		 4.32 2.96 5.42 12 0.00 25
Net Debt		 -7.51 -215 -72 -19 -1.21 -14
Capital Expenditures (CapEx)		 0.40 9.62 14 1.05 -0.01 2.72
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 3.94 3.44 48 33 19 7.31
Debt-free Net Working Capital (DFNWC)		 19 227 128 64 20 46
Net Working Capital (NWC)		 16 221 125 64 20 46
Net Nonoperating Expense (NNE)		 6.96 67 -114 42 15 33
Net Nonoperating Obligations (NNO)		 -7.51 -215 -72 -19 -1.21 -14
Total Depreciation and Amortization (D&A)		 1.24 3.01 5.29 9.31 18 3.57
Debt-free, Cash-free Net Working Capital to Revenue		 20.77% 13.31% 61.04% 42.92% 45.15% 15.89%
Debt-free Net Working Capital to Revenue		 102.55% 876.31% 162.94% 83.10% 48.10% 100.75%
Net Working Capital to Revenue		 83.11% 856.53% 159.41% 83.10% 48.10% 100.75%
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($63.70) $1.75 ($23.80) ($86.55) ($4.33)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 1.68M 5.29M 5.64M 847.27K 16.49M
Adjusted Diluted Earnings per Share		 $0.00 ($63.70) $1.75 ($23.80) ($86.55) ($4.33)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 1.68M 5.78M 5.64M 847.27K 16.49M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 5.24M 5.50M 7.48M 14.02M 26.22M
Normalized Net Operating Profit after Tax (NOPAT)		 -15 -40 -74 -93 -55 -38
Normalized NOPAT Margin		 -78.23% -156.41% -94.55% -120.45% -134.52% -83.62%
Pre Tax Income Margin		 -114.92% -414.28% 10.13% -174.50% -170.14% -154.97%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 -33.13 -1.01 22.42 -3.63 -2.34 -15.33
NOPAT to Interest Expense		 -23.23 -0.76 -285.78 -3.20 -2.64 -8.81
EBIT Less CapEx to Interest Expense		 -33.75 -1.19 -14.73 -3.67 -2.34 -15.95
NOPAT Less CapEx to Interest Expense		 -23.86 -0.94 -322.94 -3.23 -2.64 -9.43
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Velo3D

This table displays calculated financial ratios and metrics derived from Velo3D's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 200,793,531.00 261,704,586.00 296,188,417.00 8,622,216.00 8,622,216.00 210,232,762.00 210,232,762.00 14,067,551.00 20,912,172.00 26,216,822.00 29,801,002.00
DEI Adjusted Shares Outstanding		 382,464.00 498,485.00 564,168.00 574,814.00 574,814.00 14,015,517.00 14,015,517.00 14,067,551.00 20,912,172.00 26,216,822.00 29,801,002.00
DEI Earnings Per Adjusted Shares Outstanding		 -146.81 -56.80 -0.30 -40.23 -31.55 -1.78 -0.98 -0.84 -0.97 -0.27 -0.39
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -91.43% -63.33% -58.84% -64.40% 414.30% -4.76% 31.21% 65.39% -25.23% 48.24% 52.25%
EBITDA Growth		 -222.86% 42.55% 154.62% 9.54% 61.92% -15.35% -183.23% 26.00% -112.88% 76.15% 0.91%
EBIT Growth		 -248.60% 32.38% 123.13% 26.79% 41.99% 1.95% -328.77% 11.62% -11.77% 73.93% 2.22%
NOPAT Growth		 -67.91% 11.55% 20.17% 27.01% 68.75% 46.28% 41.09% 43.69% -12.99% 39.72% 4.61%
Net Income Growth		 -373.16% 22.05% 99.26% -18.81% 67.71% 11.66% -7,897.67% 48.86% -12.34% 72.02% 13.22%
EPS Growth		 -373.16% 22.05% 92.68% -18.81% 67.71% 11.66% -226.67% 98.16% 94.21% 85.03% 58.51%
Operating Cash Flow Growth		 22.89% 33.44% 71.48% 91.16% 90.98% 39.83% 84.74% -205.37% -249.77% -45.58% -1,672.62%
Free Cash Flow Firm Growth		 88.44% 64.68% 139.95% -171.13% 91.81% 88.29% -111.93% 30.19% 121.79% -88.14% -977.86%
Invested Capital Growth		 -26.39% 0.00% -42.82% 5.40% -21.79% -5.55% -11.85% 8.97% -37.97% 18.82% 39.88%
Revenue Q/Q Growth		 -89.40% 298.62% 5.70% -20.27% 53.10% -26.18% 45.62% 0.50% -30.78% 46.34% 49.57%
EBITDA Q/Q Growth		 -112.16% 28.29% 158.99% -200.79% 10.70% -117.24% 56.49% 10.38% -156.88% 75.66% -94.73%
EBIT Q/Q Growth		 -85.81% 20.11% 121.66% -327.73% -47.23% -35.03% 50.29% 12.02% -86.19% 68.51% -81.82%
NOPAT Q/Q Growth		 -122.09% 62.65% 4.34% 8.01% 4.92% 35.79% -1.41% 12.07% -90.78% 65.74% -59.22%
Net Income Q/Q Growth		 -188.48% 49.57% 99.39% -13,344.77% 21.59% -37.95% 45.87% 14.04% -72.26% 65.65% -64.48%
EPS Q/Q Growth		 -188.48% 49.57% 92.13% -13,344.77% 21.59% -37.95% -653.85% 29.59% -79.71% 77.42% -39.29%
Operating Cash Flow Q/Q Growth		 -9.83% 16.32% 61.17% 75.24% -12.11% -458.27% 90.15% -395.48% -28.41% -132.36% -19.90%
Free Cash Flow Firm Q/Q Growth		 -207.73% -128.40% 143.25% -166.84% 87.59% -226.38% 57.87% -291.20% 103.87% -2,918.34% -119.71%
Invested Capital Q/Q Growth		 56.80% -25.66% 33.96% -32.49% 16.34% -10.23% 25.02% -16.54% -33.77% 71.94% 47.19%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 -1,283.01% -28.77% -28.01% 49.36% -3.52% 7.48% -11.70% 3.17% -73.57% 17.23% 21.50%
EBITDA Margin		 -1,127.33% -202.80% 113.19% -143.09% -83.46% -245.63% -71.80% -64.02% -237.61% -39.52% -51.45%
Operating Margin		 -2,339.55% -219.19% -198.38% -228.88% -142.15% -123.65% -89.07% -77.93% -214.81% -50.28% -53.53%
EBIT Margin		 -1,244.77% -249.47% 51.11% -145.99% -140.39% -256.82% -89.12% -78.01% -209.85% -45.16% -54.90%
Profit (Net Income) Margin		 -2,287.13% -289.33% -1.66% -280.41% -143.62% -268.39% -101.36% -86.69% -215.76% -50.65% -55.70%
Tax Burden Percent		 100.00% 100.01% 97.73% 100.00% 99.89% 100.03% 100.65% 99.88% 100.17% 100.37% 99.92%
Interest Burden Percent		 183.74% 115.96% -3.33% 192.07% 102.41% 104.47% 113.00% 111.26% 102.64% 111.75% 101.54%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -2,187.41% -508.33% -94.41% -153.40% -93.13% -98.74% -59.25% -77.66% -221.90% -47.04% -41.67%
ROIC Less NNEP Spread (ROIC-NNEP)		 -2,152.44% -209.54% -195.31% -126.33% -38.49% 367.74% -116.60% -285.28% -142.31% 0.99% -29.99%
Return on Net Nonoperating Assets (RNNOA)		 947.43% 41.04% 33.77% 67.22% 7.27% -34.11% -29.22% -18.58% 28.37% -0.10% 11.52%
Return on Equity (ROE)		 -1,239.98% -467.29% -60.65% -86.18% -85.87% -132.85% -88.47% -96.24% -193.53% -47.14% -30.15%
Cash Return on Invested Capital (CROIC)		 -130.47% -699.71% -75.82% -262.37% -101.44% -129.96% -85.26% -122.39% -76.54% -110.51% -100.61%
Operating Return on Assets (OROA)		 -511.58% -110.93% 14.46% -26.42% -47.38% -91.51% -39.96% -37.47% -99.19% -24.80% -22.68%
Return on Assets (ROA)		 -939.98% -128.66% -0.47% -50.74% -48.47% -95.63% -45.45% -41.64% -101.98% -27.82% -23.01%
Return on Common Equity (ROCE)		 -1,239.98% -467.29% -60.65% -86.18% -85.87% -132.85% -88.47% -96.24% -193.53% -47.14% -30.15%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -279.71% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -40 -15 -14 -13 -13 -8.07 -8.46 -7.44 -14 -4.86 -7.74
NOPAT Margin		 -1,637.69% -153.43% -138.86% -160.22% -99.51% -86.55% -62.35% -54.55% -150.37% -35.20% -37.47%
Net Nonoperating Expense Percent (NNEP)		 -34.97% -298.79% 100.90% -27.07% -54.64% -466.48% 57.35% 207.62% -79.59% -48.03% -11.67%
Return On Investment Capital (ROIC_SIMPLE)		 -50.08% -31.64% -27.56% -38.09% -31.68% -21.01% -19.23% -15.55% -22.58% -8.45% -5.11%
Cost of Revenue to Revenue		 1,383.01% 128.77% 128.01% 50.64% 103.52% 92.52% 111.70% 96.83% 173.57% 82.77% 78.50%
SG&A Expenses to Revenue		 443.06% 89.75% 85.12% 186.86% 121.74% 97.38% 44.48% 44.26% 94.18% 35.55% 40.28%
R&D to Revenue		 402.69% 51.53% 43.94% 53.81% 11.53% 22.09% 20.96% 22.30% 37.64% 19.51% 20.95%
Operating Expenses to Revenue		 1,056.54% 190.43% 170.37% 278.25% 138.63% 131.13% 77.37% 81.11% 141.24% 67.52% 75.02%
Earnings before Interest and Taxes (EBIT)		 -31 -24 5.29 -12 -18 -24 -12 -11 -20 -6.24 -11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -28 -20 12 -12 -11 -23 -9.75 -8.73 -22 -5.46 -11
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.17 2.01 0.54 0.18 0.15 1.06 12.50 1.43 7.53 4.78 3.57
Price to Tangible Book Value (P/TBV)		 1.17 2.01 0.54 0.18 0.15 1.06 12.50 1.43 7.53 4.78 3.57
Price to Revenue (P/Rev)		 1.03 1.51 0.61 0.20 0.14 0.86 6.15 0.88 6.25 4.88 9.09
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.23 2.26 0.51 0.14 0.12 1.06 6.74 1.36 11.45 5.75 7.24
Enterprise Value to Revenue (EV/Rev)		 0.78 1.36 0.55 0.15 0.11 0.90 6.64 1.00 5.94 4.67 7.59
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.17 0.04 0.00 0.00 0.00 0.17 1.04 0.59 0.65 0.12 0.03
Long-Term Debt to Equity		 0.17 0.04 0.00 0.00 0.00 0.17 0.26 0.59 0.65 0.12 0.03
Financial Leverage		 -0.44 -0.20 -0.17 -0.53 -0.19 -0.09 0.25 0.07 -0.20 -0.11 -0.38
Leverage Ratio		 1.82 3.00 1.99 2.48 2.25 2.90 2.65 3.16 2.50 2.18 1.66
Compound Leverage Factor		 3.34 3.47 -0.07 4.76 2.30 3.03 2.99 3.51 2.57 2.43 1.68
Debt to Total Capital		 14.87% 4.22% 0.00% 0.00% 0.00% 14.34% 51.07% 36.99% 39.31% 10.49% 3.28%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 38.43% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 14.87% 4.22% 0.00% 0.00% 0.00% 14.34% 12.64% 36.99% 39.31% 10.49% 3.28%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 85.13% 95.78% 100.00% 100.00% 100.00% 85.66% 48.93% 63.01% 60.69% 89.51% 96.72%
Debt to EBITDA		 -0.12 -0.02 0.00 0.00 0.00 -0.16 -0.39 -0.32 -0.39 -0.13 -0.11
Net Debt to EBITDA		 0.20 0.10 0.00 0.00 0.00 -0.05 -0.37 -0.11 0.23 0.23 1.88
Long-Term Debt to EBITDA		 -0.12 -0.02 0.00 0.00 0.00 -0.16 -0.10 -0.32 -0.39 -0.13 -0.11
Debt to NOPAT		 -0.13 -0.02 0.00 0.00 0.00 -0.11 -0.50 -0.45 -0.64 -0.17 -0.14
Net Debt to NOPAT		 0.21 0.10 0.00 0.00 0.00 -0.03 -0.48 -0.15 0.37 0.30 2.47
Long-Term Debt to NOPAT		 -0.13 -0.02 0.00 0.00 0.00 -0.11 -0.12 -0.45 -0.64 -0.17 -0.14
Altman Z-Score		 -2.34 -3.17 -3.48 -5.01 -6.56 -6.81 -5.39 -6.34 -3.71 -3.21 3.13
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.32 1.62 1.69 1.26 1.52 1.41 1.14 1.58 2.37 2.45 6.33
Quick Ratio		 0.84 0.37 0.24 0.19 0.13 0.19 0.15 0.49 1.34 0.88 4.04
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -23 -52 22 -15 -1.85 -6.04 -2.66 -10 0.40 -11 -25
Operating Cash Flow to CapEx		 0.00% -342,050.00% -398,450.00% -9,865.00% 0.00% 0.00% -67.59% -1,924.92% -1,283.08% -1,912.55% -612.71%
Free Cash Flow to Firm to Interest Expense		 -0.88 -13.23 4.08 -1.34 -4.33 -5.64 -1.69 -8.69 0.77 -15.50 -142.60
Operating Cash Flow to Interest Expense		 -0.96 -5.27 -1.46 -0.18 -5.18 -11.54 -0.77 -5.03 -14.77 -24.53 -123.17
Operating Cash Flow Less CapEx to Interest Expense		 -0.96 -5.27 -1.46 -0.18 -5.14 -11.54 -1.92 -5.29 -15.92 -25.81 -143.27
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.41 0.44 0.28 0.18 0.34 0.36 0.45 0.48 0.47 0.55 0.41
Accounts Receivable Turnover		 8.25 5.20 4.04 2.70 6.16 5.00 6.37 5.82 9.21 8.93 8.37
Inventory Turnover		 1.57 1.47 1.20 0.89 0.78 0.72 0.84 1.03 1.39 1.51 1.74
Fixed Asset Turnover		 4.29 3.97 2.81 2.02 2.68 2.80 2.98 3.84 3.36 3.36 3.67
Accounts Payable Turnover		 7.39 5.91 5.24 4.15 2.51 2.45 2.84 3.45 3.70 4.41 5.70
Days Sales Outstanding (DSO)		 44.23 70.25 90.24 135.02 59.22 73.03 57.26 62.69 39.64 40.87 43.60
Days Inventory Outstanding (DIO)		 232.31 248.73 303.15 408.34 469.16 508.31 435.64 354.95 263.39 241.12 210.37
Days Payable Outstanding (DPO)		 49.38 61.77 69.62 87.89 145.67 149.14 128.38 105.77 98.60 82.67 64.03
Cash Conversion Cycle (CCC)		 227.16 257.21 323.76 455.47 382.72 432.21 364.52 311.86 204.43 199.31 189.93
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 49 37 49 33 38 35 43 36 24 41 60
Invested Capital Turnover		 1.34 3.31 0.68 0.96 0.94 1.14 0.95 1.42 1.48 1.34 1.11
Increase / (Decrease) in Invested Capital		 -18 37 -37 1.69 -11 -2.03 -5.80 2.97 -15 6.50 17
Enterprise Value (EV)		 61 83 25 4.57 4.61 37 291 49 273 236 437
Market Capitalization		 80 91 28 6.21 5.82 35 269 43 287 246 523
Book Value per Share		 $0.34 $0.23 $0.18 $4.02 $4.60 $0.17 $0.10 $2.14 $1.82 $2.46 $4.92
Tangible Book Value per Share		 $0.34 $0.23 $0.18 $4.02 $4.60 $0.17 $0.10 $2.14 $1.82 $2.46 $4.92
Total Capital		 80 47 52 35 40 38 44 48 63 58 152
Total Debt		 12 2.00 0.00 0.00 0.00 5.51 22 18 25 6.04 4.97
Total Long-Term Debt		 12 2.00 0.00 0.00 0.00 5.51 5.56 18 25 6.04 4.97
Net Debt		 -19 -8.90 -3.16 -1.64 -1.21 1.64 22 5.86 -14 -11 -86
Capital Expenditures (CapEx)		 -0.03 0.01 0.00 0.02 -0.02 0.00 1.80 0.31 0.60 0.94 3.52
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 33 27 30 15 19 14 22 9.76 7.31 22 40
Debt-free Net Working Capital (DFNWC)		 64 37 34 16 20 18 23 22 46 39 131
Net Working Capital (NWC)		 64 37 34 16 20 18 6.16 22 46 39 131
Net Nonoperating Expense (NNE)		 16 13 -14 9.91 5.57 17 5.29 4.38 6.17 2.14 3.77
Net Nonoperating Obligations (NNO)		 -19 -8.90 -3.16 -1.64 -1.21 1.64 22 5.86 -14 -11 -86
Total Depreciation and Amortization (D&A)		 2.88 4.57 6.42 0.24 7.19 1.04 2.35 1.91 -2.62 0.78 0.71
Debt-free, Cash-free Net Working Capital to Revenue		 42.92% 43.91% 66.57% 47.85% 45.15% 34.56% 50.76% 19.85% 15.89% 43.57% 70.09%
Debt-free Net Working Capital to Revenue		 83.10% 61.92% 73.47% 53.16% 48.10% 44.11% 52.71% 43.94% 100.75% 76.39% 228.43%
Net Working Capital to Revenue		 83.10% 61.92% 73.47% 53.16% 48.10% 44.11% 14.06% 43.94% 100.75% 76.39% 228.43%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($348.60) ($3.85) ($0.02) ($37.05) ($321.00) ($1.95) ($0.98) ($0.69) ($1.24) ($0.28) ($0.39)
Adjusted Weighted Average Basic Shares Outstanding		 161.11K 7.44M 8.48M 616.03K 56.48K 13.40M 14.04M 17.12M 16.49M 25.02M 29.45M
Adjusted Diluted Earnings per Share		 ($348.60) ($3.85) ($0.02) ($37.05) ($321.00) ($1.95) ($0.98) ($0.69) ($1.24) ($0.28) ($0.39)
Adjusted Weighted Average Diluted Shares Outstanding		 161.11K 7.44M 8.48M 616.03K 56.48K 13.40M 14.04M 17.12M 16.49M 25.02M 29.45M
Adjusted Basic & Diluted Earnings per Share		 ($348.60) $0.00 $0.00 $0.00 ($321.00) $0.00 $0.00 $0.00 ($1.24) $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 7.48M 8.46M 8.62M 0.00 14.02M 14.02M 14.07M 20.91M 26.22M 29.80M 32.15M
Normalized Net Operating Profit after Tax (NOPAT)		 -40 -15 -14 -13 -13 -8.07 -8.46 -7.44 -14 -4.86 -7.74
Normalized NOPAT Margin		 -1,637.69% -153.43% -138.86% -160.22% -99.51% -86.55% -62.35% -54.55% -150.37% -35.20% -37.47%
Pre Tax Income Margin		 -2,287.13% -289.29% -1.70% -280.41% -143.77% -268.30% -100.70% -86.80% -215.40% -50.46% -55.74%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -1.19 -6.26 0.97 -1.09 -41.51 -22.37 -7.69 -8.88 -37.81 -8.51 -64.82
NOPAT to Interest Expense		 -1.57 -3.85 -2.63 -1.19 -29.42 -7.54 -5.38 -6.21 -27.09 -6.63 -44.24
EBIT Less CapEx to Interest Expense		 -1.19 -6.27 0.97 -1.09 -41.47 -22.37 -8.84 -9.14 -38.96 -9.79 -84.93
NOPAT Less CapEx to Interest Expense		 -1.57 -3.85 -2.63 -1.19 -29.38 -7.54 -6.53 -6.47 -28.24 -7.92 -64.35
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Velo3D’s latest results show a meaningful improvement in revenue and gross margins, but the company remains unprofitable and heavily dependent on external financing. In Q2 2026, revenue increased to $20.7 million, up approximately 50% from Q1 2026 and 52% from the restated Q2 2025 figure. Gross profit improved to $4.4 million, representing a 21.5% gross margin, compared with a 17.2% margin in Q1 and negative gross margins in Q2 2025 and Q2 2024.

Despite the stronger top line, operating expenses rose to $15.5 million in Q2 2026 from $9.3 million in Q1. The company posted an operating loss of $11.1 million and a net loss of $11.5 million. Although the quarterly net loss was narrower than the $20.4 million loss in Q4 2025 and the $13.3 million restated loss in Q2 2025, Velo3D has not yet demonstrated sustainable profitability.

The balance sheet strengthened sharply during the quarter, primarily because of financing activity rather than internally generated cash. Cash increased from $16.6 million at the end of Q1 2026 to $91.1 million at June 30, 2026, helped by $103.0 million of net financing cash flow. However, operating activities consumed $21.6 million during the quarter, and the company has reported negative operating cash flow in each period provided. Investors should also note the company’s history of equity financing and rising share counts; weighted-average basic shares increased from 14.0 million in restated Q2 2025 to 29.4 million in Q2 2026, although historical comparisons are affected by reverse splits and restatements.

  • Revenue momentum improved: Q2 2026 revenue of $20.7 million was the highest among the recent quarterly periods provided and increased more than 50% year over year from restated Q2 2025.
  • Gross margins returned to positive territory: The 21.5% Q2 2026 gross margin was a significant improvement from negative margins in Q2 2025 and Q2 2024.
  • Liquidity improved substantially: Cash and equivalents rose to $91.1 million from $854,000 in Q2 2025 and $16.6 million in Q1 2026.
  • Near-term balance-sheet flexibility increased: Total current assets of $156.1 million compared with current liabilities of $24.6 million produced a current ratio of roughly 6.3.
  • Inventory declined over the longer term: Net inventory fell to $27.6 million from $78.0 million in Q2 2023, potentially indicating progress in reducing excess production-related assets, although inventory still represented a significant portion of current assets.
  • Debt exposure is currently moderate: Long-term debt was $5.0 million at June 30, 2026, down from $19.4 million in Q2 2023, but other noncurrent operating liabilities remained substantial at $24.0 million.
  • Operating cash flow remains deeply negative: Velo3D used $21.6 million in cash from operations in Q2 2026, compared with outflows of $18.0 million in Q1 2026 and $7.7 million in Q4 2025.
  • Financing drove the cash increase: The $103.0 million of net financing inflow, including $109.9 million from other financing activities, was far larger than the company’s operating cash generation, which was negative.
  • Losses continue: Velo3D recorded a $11.5 million net loss and a $11.1 million operating loss in Q2 2026, while retained earnings remained deeply negative at approximately $516.7 million.
  • Dilution remains a significant risk: Common stock increased to $663.2 million from $390.2 million in Q2 2023, while recent financing activity and higher weighted-average share counts indicate that shareholders may continue to face dilution.
09/10/26 09:41 PM ETAI Generated. May Contain Errors.

Velo3D Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Velo3D's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Velo3D's net income appears to be on an upward trend, with a most recent value of -$71.36 million in 2025, rising from -$21.81 million in 2020. The previous period was -$69.74 million in 2024. See Velo3D's forecast for analyst expectations on what's next for the company.

Velo3D's total operating income in 2025 was -$54.92 million, based on the following breakdown:
  • Total Gross Profit: -$7.40 million
  • Total Operating Expenses: $47.52 million

Over the last 5 years, Velo3D's total revenue changed from $18.98 million in 2020 to $45.97 million in 2025, a change of 142.3%.

Velo3D's total liabilities were at $67.19 million at the end of 2025, a 35.7% increase from 2024, and a 299.8% increase since 2020.

In the past 5 years, Velo3D's cash and equivalents has ranged from $1.21 million in 2024 to $207.60 million in 2021, and is currently $39.01 million as of their latest financial filing in 2025.

Over the last 5 years, Velo3D's book value per share changed from -6.90 in 2020 to 1.82 in 2025, a change of -126.4%.


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Financial statements for NASDAQ:VELO last updated on 8/11/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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