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Velo3D (VELO) Financials

Velo3D logo
$24.01 -1.70 (-6.61%)
As of 05/29/2026 04:00 PM Eastern
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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Income / (Loss) Attributable to Common Shareholders		 -19 -56 -28 -0.17 -23 -18 -25 -14 -12 -20 -7.00
Consolidated Net Income / (Loss)		 -19 -56 -28 -0.17 -23 -18 -25 -14 -12 -20 -7.00
Net Income / (Loss) Continuing Operations		 -19 -56 -28 -0.17 -23 -18 -25 -14 -12 -20 -7.00
Total Pre-Tax Income 		-19 -56 -28 -0.18 -23 -18 -25 -14 -12 -20 -6.97
Total Operating Income		 -26 -57 -21 -21 -19 -18 -12 -12 -11 -20 -6.95
Total Gross Profit		 0.16 -31 -2.82 -2.90 4.07 -0.44 0.70 -1.59 0.43 -6.95 2.38
Total Revenue		 23 2.46 9.79 10 8.25 13 9.32 14 14 9.44 14
Operating Revenue		 23 2.46 9.79 10 8.25 13 9.32 14 14 9.44 14
Total Cost of Revenue		 23 34 13 13 4.18 13 8.62 15 13 16 11
Operating Cost of Revenue		 23 34 13 13 4.18 13 8.62 15 13 16 11
Total Operating Expenses		 26 26 19 18 23 18 12 11 11 13 9.33
Selling, General & Admin Expense		 11 11 8.78 8.81 15 15 9.08 6.04 6.04 8.89 4.91
Marketing Expense		 5.77 5.18 4.81 4.27 3.10 0.68 1.09 1.62 1.98 0.89 1.72
Research & Development Expense		 9.49 9.89 5.04 4.55 4.44 1.46 2.06 2.85 3.04 3.55 2.70
Total Other Income / (Expense), net		 6.40 1.29 -6.86 20 -4.25 -0.21 -13 -1.58 -1.21 -0.06 -0.03
Interest Expense		 3.02 26 3.90 5.46 11 0.43 1.07 1.57 1.20 0.52 0.73
Other Income / (Expense), net		 9.42 27 -2.96 26 6.84 0.22 -12 -0.01 -0.01 0.47 0.71
Income Tax Expense		 0.00 - 0.00 -0.00 0.00 -0.02 0.01 0.09 -0.01 0.03 0.03
Basic Earnings per Share		 ($3.37) ($9.96) ($3.81) ($0.30) ($37.54) ($21.40) ($1.87) ($0.98) ($0.69) ($1.24) ($0.28)
Weighted Average Basic Shares Outstanding		 5.77M 5.64M 7.44M 565.03K 616.03K 847.27K 13.40M 14.04M 17.12M 16.49M 25.02M
Diluted Earnings per Share		 ($3.37) ($9.96) ($3.81) ($0.30) ($37.54) ($21.40) ($1.87) ($0.98) ($0.69) ($1.24) ($0.28)
Weighted Average Diluted Shares Outstanding		 5.77M 5.64M 7.44M 565.03K 616.03K 847.27K 13.40M 14.04M 17.12M 16.49M 25.02M
Weighted Average Basic & Diluted Shares Outstanding		 200.79M 261.70M 296.19M 8.62M - 210.23M 210.23M 14.07M 20.91M 26.22M 29.80M

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Change in Cash & Equivalents		 29 -34 -17 -5.29 -0.83 -0.60 2.66 -3.02 11 27 -22
Net Cash From Operating Activities		 -22 -25 -21 -7.97 -1.97 -2.21 -12 -1.22 -6.03 -7.74 -18
Net Cash From Continuing Operating Activities		 -22 -25 -21 -7.97 -1.97 -2.21 -12 -1.22 -6.03 -7.74 -18
Net Income / (Loss) Continuing Operations		 -19 -56 -28 -0.17 -23 -18 -25 -14 -12 -20 -7.00
Consolidated Net Income / (Loss)		 -19 -56 -28 -0.17 -23 -18 -25 -14 -12 -20 -7.00
Depreciation Expense		 3.44 2.88 1.40 1.31 1.24 0.83 1.00 0.78 0.77 0.89 0.76
Amortization Expense		 -0.04 - 3.17 5.11 -1.00 6.35 0.05 1.57 1.14 -3.51 0.02
Non-Cash Adjustments To Reconcile Net Income		 -2.27 -10 6.03 -21 20 -1.35 15 5.03 -2.08 12 -0.13
Changes in Operating Assets and Liabilities, net		 -4.00 39 -2.80 6.57 0.73 10 -3.61 5.16 5.98 3.36 -12
Net Cash From Investing Activities		 5.46 7.84 3.49 2.47 0.68 1.12 0.00 -1.80 -0.31 -0.60 -0.94
Net Cash From Continuing Investing Activities		 5.46 7.84 3.49 2.47 0.68 1.12 0.00 -1.80 -0.31 -0.60 -0.94
Purchase of Property, Plant & Equipment		 -0.38 0.03 -0.01 -0.00 -0.02 0.02 0.00 -1.80 -0.31 -0.60 -0.94
Sale and/or Maturity of Investments		 5.11 11 3.50 - 3.17 - 0.00 - - - 0.00
Other Investing Activities, net		 0.73 0.80 -0.00 - - 1.08 0.00 - - - 0.00
Net Cash From Financing Activities		 46 -17 0.29 0.21 0.47 0.50 15 - 17 36 -3.54
Net Cash From Continuing Financing Activities		 46 -17 0.29 0.21 0.47 0.50 15 - 17 36 -3.54
Repayment of Debt		 -22 -21 0.00 -11 -1.25 - 0.00 - -0.50 -2.44 -3.04
Issuance of Debt		 66 - 0.00 - - 13 15 - - - 0.00
Issuance of Common Equity		 2.83 4.38 0.00 11 -11 - 0.00 - 20 30 0.00
Other Financing Activities, net		 0.06 0.15 0.29 0.03 12 -12 0.00 - -2.30 7.95 -0.50
Effect of Exchange Rate Changes		 - 0.01 0.01 -0.00 0.00 - 0.01 -0.00 -0.00 - -0.00
Cash Interest Paid		 0.56 8.60 0.56 0.21 0.42 0.00 0.20 0.55 0.10 0.28 0.38

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
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
Total Assets		 207 230 136 117 111 91 79 94 92
Total Current Assets		 158 184 98 82 80 62 49 59 65
Cash & Equivalents		 29 58 7.75 2.46 1.64 3.87 0.85 12 17
Accounts Receivable		 14 13 12 8.34 10 4.57 5.39 6.67 6.73
Inventories, net		 78 81 63 60 62 46 38 35 28
Prepaid Expenses		 2.86 2.52 3.08 2.29 1.93 5.91 2.78 1.83 9.65
Other Current Assets		 15 16 9.91 8.86 4.03 1.30 1.45 3.44 4.12
Plant, Property, & Equipment, net		 18 17 15 14 13 14 15 12 16
Total Noncurrent Assets		 31 29 23 20 18 16 14 22 11
Noncurrent Note & Lease Receivables		 7.67 7.02 5.48 3.96 3.78 3.67 - 3.02 1.05
Other Noncurrent Operating Assets		 23 22 17 16 14 12 14 19 9.79
Total Liabilities & Shareholders' Equity		 207 230 136 117 111 91 79 94 92
Total Liabilities		 96 127 91 65 76 59 57 64 41
Total Current Liabilities		 36 99 61 49 63 44 43 38 27
Accounts Payable		 18 13 16 14 18 16 15 11 9.09
Accrued Expenses		 9.37 11 6.24 5.86 5.33 3.76 4.26 13 6.66
Other Current Liabilities		 5.77 75 39 29 40 24 6.71 14 11
Total Noncurrent Liabilities		 61 28 30 16 13 15 14 26 14
Long-Term Debt		 19 0.00 2.00 0.00 0.00 5.51 5.56 18 6.04
Other Noncurrent Operating Liabilities		 41 28 28 16 13 9.12 8.72 8.47 8.21
Commitments & Contingencies		 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
Total Preferred & Common Equity		 111 103 45 52 35 33 22 30 52
Total Common Equity		 111 103 45 52 35 33 22 30 52
Common Stock		 390 400 431 438 443 489 491 511 557
Retained Earnings		 -279 -297 -385 -386 -408 -456 -470 -481 -505
Accumulated Other Comprehensive Income / (Loss)		 -0.40 -0.25 -0.04 -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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
DEI Shares Outstanding		 196,747,463.00 200,793,531.00 261,704,586.00 296,188,417.00 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
DEI Adjusted Shares Outstanding		 374,757.00 382,464.00 498,485.00 564,168.00 574,814.00 574,814.00 14,015,517.00 14,015,517.00 14,067,551.00 20,912,172.00 26,216,822.00
DEI Earnings Per Adjusted Shares Outstanding		 -51.94 -146.81 -56.80 -0.30 -40.23 -31.55 -1.78 -0.98 -0.84 -0.97 -0.27
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 21.20% -91.43% -63.33% -58.84% -64.40% 414.30% -4.76% 31.21% 65.39% -25.23% 48.24%
EBITDA Growth		 82.33% -222.86% 42.55% 154.62% 9.54% 61.92% -15.35% -183.23% 26.00% -112.88% 76.15%
EBIT Growth		 78.09% -248.60% 32.38% 123.13% 26.79% 41.99% 1.95% -328.77% 11.62% -11.77% 73.93%
NOPAT Growth		 7.48% -67.91% 11.55% 20.17% 27.01% 68.75% 46.28% 41.09% 43.69% -12.99% 39.72%
Net Income Growth		 74.12% -373.16% 22.05% 99.26% -18.81% 67.71% 11.66% -7,897.67% 48.86% -12.34% 72.02%
EPS Growth		 74.12% -373.16% 22.05% 92.68% -18.81% 67.71% 11.66% -226.67% 98.16% 94.21% 85.03%
Operating Cash Flow Growth		 4.41% 22.89% 33.44% 71.48% 91.16% 90.98% 39.83% 84.74% -205.37% -249.77% -45.58%
Free Cash Flow Firm Growth		 108.37% 88.44% 64.68% 139.95% -171.13% 91.81% 88.29% -111.93% 30.19% 121.79% -88.14%
Invested Capital Growth		 -55.47% -26.39% 0.00% -42.82% 5.40% -21.79% -5.55% -11.85% 8.97% -37.97% 18.82%
Revenue Q/Q Growth		 -7.83% -89.40% 298.62% 5.70% -20.27% 53.10% -26.18% 45.62% 0.50% -30.78% 46.34%
EBITDA Q/Q Growth		 39.14% -112.16% 28.29% 158.99% -200.79% 10.70% -117.24% 56.49% 10.38% -156.88% 75.66%
EBIT Q/Q Growth		 28.05% -85.81% 20.11% 121.66% -327.73% -47.23% -35.03% 50.29% 12.02% -86.19% 68.51%
NOPAT Q/Q Growth		 -0.61% -122.09% 62.65% 4.34% 8.01% 4.92% 35.79% -1.41% 12.07% -90.78% 65.74%
Net Income Q/Q Growth		 16.11% -188.48% 49.57% 99.39% -13,344.77% 21.59% -37.95% 45.87% 14.04% -72.26% 65.65%
EPS Q/Q Growth		 16.11% -188.48% 49.57% 92.13% -13,344.77% 21.59% -37.95% -653.85% 29.59% -79.71% 77.42%
Operating Cash Flow Q/Q Growth		 20.09% -9.83% 16.32% 61.17% 75.24% -12.11% -458.27% 90.15% -395.48% -28.41% -132.36%
Free Cash Flow Firm Q/Q Growth		 137.54% -207.73% -128.40% 143.25% -166.84% 87.59% -226.38% 57.87% -291.20% 103.87% -2,918.34%
Invested Capital Q/Q Growth		 -63.38% 56.80% -25.66% 33.96% -32.49% 16.34% -10.23% 25.02% -16.54% -33.77% 71.94%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.70% -1,283.01% -28.77% -28.01% 49.36% -3.52% 7.48% -11.70% 3.17% -73.57% 17.23%
EBITDA Margin		 -56.31% -1,127.33% -202.80% 113.19% -143.09% -83.46% -245.63% -71.80% -64.02% -237.61% -39.52%
Operating Margin		 -111.63% -2,339.55% -219.19% -198.38% -228.88% -142.15% -123.65% -89.07% -77.93% -214.81% -50.28%
EBIT Margin		 -70.99% -1,244.77% -249.47% 51.11% -145.99% -140.39% -256.82% -89.12% -78.01% -209.85% -45.16%
Profit (Net Income) Margin		 -84.02% -2,287.13% -289.33% -1.66% -280.41% -143.62% -268.39% -101.36% -86.69% -215.76% -50.65%
Tax Burden Percent		 100.00% 100.00% 100.01% 97.73% 100.00% 99.89% 100.03% 100.65% 99.88% 100.17% 100.37%
Interest Burden Percent		 118.35% 183.74% 115.96% -3.33% 192.07% 102.41% 104.47% 113.00% 111.26% 102.64% 111.75%
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)		 -159.16% -2,187.41% -508.33% -94.41% -153.40% -93.13% -98.74% -59.25% -77.66% -221.90% -47.04%
ROIC Less NNEP Spread (ROIC-NNEP)		 -156.95% -2,152.44% -209.54% -195.31% -126.33% -38.49% 367.74% -116.60% -285.28% -142.31% 0.99%
Return on Net Nonoperating Assets (RNNOA)		 85.92% 947.43% 41.04% 33.77% 67.22% 7.27% -34.11% -29.22% -18.58% 28.37% -0.10%
Return on Equity (ROE)		 -73.23% -1,239.98% -467.29% -60.65% -86.18% -85.87% -132.85% -88.47% -96.24% -193.53% -47.14%
Cash Return on Invested Capital (CROIC)		 -60.48% -130.47% -699.71% -75.82% -262.37% -101.44% -129.96% -85.26% -122.39% -76.54% -110.51%
Operating Return on Assets (OROA)		 -33.16% -511.58% -110.93% 14.46% -26.42% -47.38% -91.51% -39.96% -37.47% -99.19% -24.80%
Return on Assets (ROA)		 -39.25% -939.98% -128.66% -0.47% -50.74% -48.47% -95.63% -45.45% -41.64% -101.98% -27.82%
Return on Common Equity (ROCE)		 -73.23% -1,239.98% -467.29% -60.65% -86.18% -85.87% -132.85% -88.47% -96.24% -193.53% -47.14%
Return on Equity Simple (ROE_SIMPLE)		 -56.76% 0.00% -279.71% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -18 -40 -15 -14 -13 -13 -8.07 -8.46 -7.44 -14 -4.86
NOPAT Margin		 -78.14% -1,637.69% -153.43% -138.86% -160.22% -99.51% -86.55% -62.35% -54.55% -150.37% -35.20%
Net Nonoperating Expense Percent (NNEP)		 -2.21% -34.97% -298.79% 100.90% -27.07% -54.64% -466.48% 57.35% 207.62% -79.59% -48.03%
Return On Investment Capital (ROIC_SIMPLE)		 -17.58% -50.08% -31.64% -27.56% -38.09% -31.68% -21.01% -19.23% -15.55% -22.58% -8.45%
Cost of Revenue to Revenue		 99.30% 1,383.01% 128.77% 128.01% 50.64% 103.52% 92.52% 111.70% 96.83% 173.57% 82.77%
SG&A Expenses to Revenue		 46.46% 443.06% 89.75% 85.12% 186.86% 121.74% 97.38% 44.48% 44.26% 94.18% 35.55%
R&D to Revenue		 40.96% 402.69% 51.53% 43.94% 53.81% 11.53% 22.09% 20.96% 22.30% 37.64% 19.51%
Operating Expenses to Revenue		 112.34% 1,056.54% 190.43% 170.37% 278.25% 138.63% 131.13% 77.37% 81.11% 141.24% 67.52%
Earnings before Interest and Taxes (EBIT)		 -16 -31 -24 5.29 -12 -18 -24 -12 -11 -20 -6.24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -13 -28 -20 12 -12 -11 -23 -9.75 -8.73 -22 -5.46
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.98 1.17 2.01 0.54 0.18 0.15 1.06 12.50 1.43 7.53 4.78
Price to Tangible Book Value (P/TBV)		 2.98 1.17 2.01 0.54 0.18 0.15 1.06 12.50 1.43 7.53 4.78
Price to Revenue (P/Rev)		 2.96 1.03 1.51 0.61 0.20 0.14 0.86 6.15 0.88 6.25 4.88
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)		 7.51 1.23 2.26 0.51 0.14 0.12 1.06 6.74 1.36 11.45 5.75
Enterprise Value to Revenue (EV/Rev)		 2.27 0.78 1.36 0.55 0.15 0.11 0.90 6.64 1.00 5.94 4.67
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		 0.00 0.17 0.04 0.00 0.00 0.00 0.17 1.04 0.59 0.65 0.12
Long-Term Debt to Equity		 0.00 0.17 0.04 0.00 0.00 0.00 0.17 0.26 0.59 0.65 0.12
Financial Leverage		 -0.55 -0.44 -0.20 -0.17 -0.53 -0.19 -0.09 0.25 0.07 -0.20 -0.11
Leverage Ratio		 1.97 1.82 3.00 1.99 2.48 2.25 2.90 2.65 3.16 2.50 2.18
Compound Leverage Factor		 2.34 3.34 3.47 -0.07 4.76 2.30 3.03 2.99 3.51 2.57 2.43
Debt to Total Capital		 0.00% 14.87% 4.22% 0.00% 0.00% 0.00% 14.34% 51.07% 36.99% 39.31% 10.49%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 38.43% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 14.87% 4.22% 0.00% 0.00% 0.00% 14.34% 12.64% 36.99% 39.31% 10.49%
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		 100.00% 85.13% 95.78% 100.00% 100.00% 100.00% 85.66% 48.93% 63.01% 60.69% 89.51%
Debt to EBITDA		 0.00 -0.12 -0.02 0.00 0.00 0.00 -0.16 -0.39 -0.32 -0.39 -0.13
Net Debt to EBITDA		 0.00 0.20 0.10 0.00 0.00 0.00 -0.05 -0.37 -0.11 0.23 0.23
Long-Term Debt to EBITDA		 0.00 -0.12 -0.02 0.00 0.00 0.00 -0.16 -0.10 -0.32 -0.39 -0.13
Debt to NOPAT		 0.00 -0.13 -0.02 0.00 0.00 0.00 -0.11 -0.50 -0.45 -0.64 -0.17
Net Debt to NOPAT		 0.00 0.21 0.10 0.00 0.00 0.00 -0.03 -0.48 -0.15 0.37 0.30
Long-Term Debt to NOPAT		 0.00 -0.13 -0.02 0.00 0.00 0.00 -0.11 -0.12 -0.45 -0.64 -0.17
Altman Z-Score		 0.30 -2.34 -3.17 -3.48 -5.01 -6.56 -6.81 -5.39 -6.34 -3.71 -3.21
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		 1.86 2.32 1.62 1.69 1.26 1.52 1.41 1.14 1.58 2.37 2.45
Quick Ratio		 0.85 0.84 0.37 0.24 0.19 0.13 0.19 0.15 0.49 1.34 0.88
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 21 -23 -52 22 -15 -1.85 -6.04 -2.66 -10 0.40 -11
Operating Cash Flow to CapEx		 -5,845.81% 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%
Free Cash Flow to Firm to Interest Expense		 6.94 -0.88 -13.23 4.08 -1.34 -4.33 -5.64 -1.69 -8.69 0.77 -15.50
Operating Cash Flow to Interest Expense		 -7.40 -0.96 -5.27 -1.46 -0.18 -5.18 -11.54 -0.77 -5.03 -14.77 -24.53
Operating Cash Flow Less CapEx to Interest Expense		 -7.53 -0.96 -5.27 -1.46 -0.18 -5.14 -11.54 -1.92 -5.29 -15.92 -25.81
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.47 0.41 0.44 0.28 0.18 0.34 0.36 0.45 0.48 0.47 0.55
Accounts Receivable Turnover		 7.69 8.25 5.20 4.04 2.70 6.16 5.00 6.37 5.82 9.21 8.93
Inventory Turnover		 1.27 1.57 1.47 1.20 0.89 0.78 0.72 0.84 1.03 1.39 1.51
Fixed Asset Turnover		 5.68 4.29 3.97 2.81 2.02 2.68 2.80 2.98 3.84 3.36 3.36
Accounts Payable Turnover		 8.32 7.39 5.91 5.24 4.15 2.51 2.45 2.84 3.45 3.70 4.41
Days Sales Outstanding (DSO)		 47.44 44.23 70.25 90.24 135.02 59.22 73.03 57.26 62.69 39.64 40.87
Days Inventory Outstanding (DIO)		 286.80 232.31 248.73 303.15 408.34 469.16 508.31 435.64 354.95 263.39 241.12
Days Payable Outstanding (DPO)		 43.86 49.38 61.77 69.62 87.89 145.67 149.14 128.38 105.77 98.60 82.67
Cash Conversion Cycle (CCC)		 290.38 227.16 257.21 323.76 455.47 382.72 432.21 364.52 311.86 204.43 199.31
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 31 49 37 49 33 38 35 43 36 24 41
Invested Capital Turnover		 2.04 1.34 3.31 0.68 0.96 0.94 1.14 0.95 1.42 1.48 1.34
Increase / (Decrease) in Invested Capital		 -39 -18 37 -37 1.69 -11 -2.03 -5.80 2.97 -15 6.50
Enterprise Value (EV)		 235 61 83 25 4.57 4.61 37 291 49 273 236
Market Capitalization		 307 80 91 28 6.21 5.82 35 269 43 287 246
Book Value per Share		 $0.52 $0.34 $0.23 $0.18 $4.02 $4.60 $0.17 $0.10 $2.14 $1.82 $2.46
Tangible Book Value per Share		 $0.52 $0.34 $0.23 $0.18 $4.02 $4.60 $0.17 $0.10 $2.14 $1.82 $2.46
Total Capital		 103 80 47 52 35 40 38 44 48 63 58
Total Debt		 0.00 12 2.00 0.00 0.00 0.00 5.51 22 18 25 6.04
Total Long-Term Debt		 0.00 12 2.00 0.00 0.00 0.00 5.51 5.56 18 25 6.04
Net Debt		 -72 -19 -8.90 -3.16 -1.64 -1.21 1.64 22 5.86 -14 -11
Capital Expenditures (CapEx)		 0.38 -0.03 0.01 0.00 0.02 -0.02 0.00 1.80 0.31 0.60 0.94
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 13 33 27 30 15 19 14 22 9.76 7.31 22
Debt-free Net Working Capital (DFNWC)		 85 64 37 34 16 20 18 23 22 46 39
Net Working Capital (NWC)		 85 64 37 34 16 20 18 6.16 22 46 39
Net Nonoperating Expense (NNE)		 1.36 16 13 -14 9.91 5.57 17 5.29 4.38 6.17 2.14
Net Nonoperating Obligations (NNO)		 -72 -19 -8.90 -3.16 -1.64 -1.21 1.64 22 5.86 -14 -11
Total Depreciation and Amortization (D&A)		 3.40 2.88 4.57 6.42 0.24 7.19 1.04 2.35 1.91 -2.62 0.78
Debt-free, Cash-free Net Working Capital to Revenue		 12.76% 42.92% 43.91% 66.57% 47.85% 45.15% 34.56% 50.76% 19.85% 15.89% 43.57%
Debt-free Net Working Capital to Revenue		 81.84% 83.10% 61.92% 73.47% 53.16% 48.10% 44.11% 52.71% 43.94% 100.75% 76.39%
Net Working Capital to Revenue		 81.84% 83.10% 61.92% 73.47% 53.16% 48.10% 44.11% 14.06% 43.94% 100.75% 76.39%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($3.15) ($348.60) ($3.85) ($0.02) ($37.05) ($321.00) ($1.95) ($0.98) ($0.69) ($1.24) ($0.28)
Adjusted Weighted Average Basic Shares Outstanding		 5.65M 161.11K 7.44M 8.48M 616.03K 56.48K 13.40M 14.04M 17.12M 16.49M 25.02M
Adjusted Diluted Earnings per Share		 ($3.15) ($348.60) ($3.85) ($0.02) ($37.05) ($321.00) ($1.95) ($0.98) ($0.69) ($1.24) ($0.28)
Adjusted Weighted Average Diluted Shares Outstanding		 5.65M 161.11K 7.44M 8.48M 616.03K 56.48K 13.40M 14.04M 17.12M 16.49M 25.02M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($348.60) $0.00 $0.00 $0.00 ($321.00) $0.00 $0.00 $0.00 ($1.24) $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 5.74M 7.48M 8.46M 8.62M 0.00 14.02M 14.02M 14.07M 20.91M 26.22M 29.80M
Normalized Net Operating Profit after Tax (NOPAT)		 -18 -40 -15 -14 -13 -13 -8.07 -8.46 -7.44 -14 -4.86
Normalized NOPAT Margin		 -78.14% -1,637.69% -153.43% -138.86% -160.22% -99.51% -86.55% -62.35% -54.55% -150.37% -35.20%
Pre Tax Income Margin		 -84.02% -2,287.13% -289.29% -1.70% -280.41% -143.77% -268.30% -100.70% -86.80% -215.40% -50.46%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -5.45 -1.19 -6.26 0.97 -1.09 -41.51 -22.37 -7.69 -8.88 -37.81 -8.51
NOPAT to Interest Expense		 -6.00 -1.57 -3.85 -2.63 -1.19 -29.42 -7.54 -5.38 -6.21 -27.09 -6.63
EBIT Less CapEx to Interest Expense		 -5.58 -1.19 -6.27 0.97 -1.09 -41.47 -22.37 -8.84 -9.14 -38.96 -9.79
NOPAT Less CapEx to Interest Expense		 -6.13 -1.57 -3.85 -2.63 -1.19 -29.38 -7.54 -6.53 -6.47 -28.24 -7.92
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 quarter shows a mixed picture: revenue improved sharply year over year, but the company remains deeply unprofitable and continues to burn cash. The balance sheet is stronger than it was a year ago thanks to a much larger cash position, but that improvement came alongside significant dilution and still doesn’t erase the ongoing losses.

  • Revenue grew strongly in Q1 2026. Sales were $13.8 million, up from $9.4 million in Q4 2025 and $9.3 million in Q1 2025, showing a meaningful rebound in top-line performance.
  • Gross profit turned positive. Q1 2026 gross profit was $2.4 million, compared with a gross loss in several prior quarters, indicating better pricing and/or manufacturing efficiency.
  • Cash on hand improved materially. Cash and equivalents rose to $16.6 million at March 31, 2026, from $3.9 million at March 31, 2025.
  • The company has reduced near-term leverage versus a year ago. Total liabilities fell to $40.9 million in Q1 2026 from $58.5 million in Q1 2025.
  • Operating revenue has stabilized around the mid-teens. The last three reported quarters were roughly $13.6 million to $13.8 million, suggesting a more consistent demand run rate than earlier periods.
  • Q1 2026 still posted a large net loss. Net loss was $7.0 million, or $0.28 per share, so profitability remains far away.
  • Operating cash flow was negative. The company used $18.0 million in operating cash during Q1 2026, reflecting ongoing cash burn in the core business.
  • Inventory remains elevated. Inventories were $28.1 million, which may help support future shipments but also ties up working capital.
  • Debt is lower than it was a year ago, but still present. Long-term debt was $6.0 million in Q1 2026 versus $5.5 million in Q1 2025, while debt-related cash outflows remained part of the financing picture.
  • Share count has been volatile due to financing activity. Velo3D issued equity heavily in prior quarters, which helped liquidity but also diluted existing shareholders.
  • Margins are still under pressure. Although gross profit improved in Q1 2026, operating expenses of $9.3 million still far exceeded gross profit, leaving a $6.9 million operating loss.
  • Free cash flow remains negative. After operating losses and capital spending, the company’s cash balance declined by $22.5 million in Q1 2026 overall.
  • Historical performance has been highly inconsistent. In 2024 and 2025, revenue and profitability swung sharply quarter to quarter, suggesting the business is still not on a stable earnings path.
  • Retained earnings remain deeply negative. Accumulated losses were $505.1 million at the end of Q1 2026, underscoring the long-term profitability challenge.

Bottom line: Velo3D is showing signs of operational improvement, especially on revenue and gross profit, but it is still a cash-burning turnaround story. Investors should focus on whether the company can sustain revenue growth while narrowing operating losses without relying on additional dilution or debt.

05/30/26 04:59 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. View Velo3D's forecast to see where analysts expect Velo3D to go next.

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%.



Financial statements for NASDAQ:VELO last updated on 5/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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