VELO

EX-99.1

2 velo-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Velo3D Announces Second Quarter 2026 Financial Results

• Revenue of $20.7 million, up 52.3% year-over-year

• Gross margin of 21.5%

• Cash and cash equivalents of $91.1 million as of June 30, 2026

• New Livermore Production Campus expected to triple manufacturing capacity and support accelerating demand

• Increases 2026 revenue guidance to $65 million to $75 million, from $60 million to $70 million

FREMONT, Calif., August 11, 2026- Velo3D, Inc. (Nasdaq: VELO) (“Velo3D” or the “Company”), a leader in additive manufacturing (“AM”) technology known for transforming aerospace and defense supply chains through world-class metal AM, today announced financial results for its second quarter ended June 30, 2026.

Arun Jeldi, Chief Executive Officer of Velo3D, said, "We delivered a strong quarter, with 52.3% year-over-year revenue growth, expanding margins and disciplined execution across our business. The strength of our results reflects the increasing demand for our advanced metal additive manufacturing solutions, the successful execution of our commercial strategy and our team's relentless focus on operational excellence. During the quarter, we expanded strategic customer relationships, advanced new partnerships and continued building momentum across the aerospace, defense, energy and space markets, positioning Velo3D for continued growth.

"Looking ahead, we are entering an exciting new phase for Velo3D with the launch of our Livermore Production Campus, which we expect will triple our manufacturing capacity and become our primary production and manufacturing center. This expansion is expected to significantly enhance our ability to meet growing customer demand, shorten delivery timelines and support larger production programs as additive manufacturing becomes an increasingly important part of next-generation industrial supply chains. With expanded capacity, a strengthened balance sheet and a growing pipeline of opportunities, we believe Velo3D is well-positioned to capitalize on the market opportunities ahead."

Recent Business Developments

• Launched the new Livermore Production Campus, which is expected to triple the Company’s manufacturing production capacity and support accelerating demand from aerospace and defense customers for the Company’s metal additive manufacturing solutions. The campus is expected to become operational later this year. It will serve as the Company’s primary production and manufacturing center.

• Expanded strategic partnership with Mears Machine Corporation to accelerate distributed manufacturing. Mears ordered its fifth Velo3D Sapphire® XC metal additive manufacturing system, with options for two additional systems, further expanding manufacturing capacity supporting aviation, defense, energy and space applications.

• Entered into a strategic partnership with Aurelia Technologies advancing the use of metal additive manufacturing in next-generation gas turbine systems, supporting design consolidation, faster product iteration, supply chain resilience and cost reduction initiatives.

• Strengthened institutional market presence and broadened market exposure with inclusion in the Russell 3000® Index and Russell Microcap® Index.

• Enhanced Board leadership and strategic expertise with the appointment of Lily Mei, former Mayor of Fremont, California and an experienced public- and private-sector leader, as an independent director to the Company’s Board of Directors.

• Closed a firm commitment underwritten registered direct offering in April 2026 of 3,571,428 shares of common stock, with gross proceeds of approximately $50 million. In addition, the Company raised gross proceeds of approximately $59.4 million during the second quarter of 2026 through sales of common stock under its at-the-market offering program established in May 2026, before issuance costs of approximately $2.0 million.

($ in Millions, except percentages and per-share data)

2nd Quarter 2026

2nd Quarter 2025

GAAP revenue

$20.7

$13.6

GAAP gross margin

21.5 %

(11.7)%

GAAP net loss1

($11.5)

($13.3)

GAAP net loss per share  – basic and diluted

($0.39)

($0.94)

Non-GAAP net loss1,2

($9.0)

($11.4)

Non-GAAP net loss per share  – basic and diluted1,2

($0.30)

($0.81)

1. Information about Velo3D’s use of non-GAAP information, including a reconciliation to accounting principles generally accepted in the United States of America ("GAAP"), is provided at the end of this release under “Non-GAAP Financial Information”. The non-GAAP financial measures presented in this release should not be considered as the sole measure of the Company’s performance and should not be considered in isolation from, or as a substitute for, comparable financial measures calculated in accordance with GAAP.

2. Non-GAAP net loss and non-GAAP net loss per basic and diluted share exclude stock-based compensation expense, loss on warrant cancellation, and fair value adjustment

EX-99.1

2 velo-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Velo3D Announces First Quarter 2026 Financial Results

• Revenue of $13.8 million, up 48% year-over-year

• Gross margin of 17.2%

• Reaffirms outlook for 2026 revenue between $60 million and $70 million and to turn EBITDA positive in the second half of 2026

FREMONT, Calif., May 12, 2026- Velo3D, Inc. (Nasdaq: VELO) (“Velo3D” or the “Company”), a leader in additive manufacturing (“AM”) technology known for transforming aerospace and defense supply chains through world-class metal AM, today announced financial results for its first quarter ended March 31, 2026.

Recent Business Developments

• Awarded a $9.8 million, five-year Indefinite Delivery Indefinite Quantity (IDIQ) contract supporting the Defense Logistics Agency's (DLA) Joint Additive Manufacturing Acceptability (JAMA) Pilot Parts Program, an initiative aimed at accelerating adoption of additively manufactured components across Department of War sustainment operations.

• Appointed Jim Suva as Chief Financial Officer.

• Closed a firm commitment underwritten registered direct offering in April 2026 of 3,571,428 shares of common stock, with gross proceeds of approximately $50 million.

“For the first quarter, we delivered a strong start to 2026 with revenue up 48% year‑over‑year, reflecting recent sales momentum and disciplined execution across our end markets,” said Arun Jeldi, CEO of Velo3D. “Importantly, we achieved positive gross margin this quarter, a key inflection point that validates our operating model as we scale production and continue to drive cost efficiency. With a robust pipeline of opportunities, we believe we have a solid foundation for continued growth.”

“Demand remains particularly strong in defense and aerospace, where customers are prioritizing scalable, high‑performance additive manufacturing solutions. To support this demand and accelerate our expansion, we completed a successful equity offering in April, securing additional capital to invest in talent and operational infrastructure. We believe our competitive position is strengthening as we deepen customer relationships and expand into new programs. We remain focused on executing our expansion plans to capture these opportunities and drive long‑term value creation.”

($ in Millions, except percentages and per-share data)

1st Quarter 2026

1st Quarter 2025

GAAP revenue

$13.8

$9.3

GAAP gross margin

17.2 %

7.5 %

GAAP net loss1

($7.0)

($25.0)

GAAP net loss per share  – basic and diluted

($0.28)

($1.87)

Non-GAAP net loss1,2

($5.1)

($9.0)

Non-GAAP net loss per share  – basic and diluted1,2

($0.20)

($0.67)

1. Information about Velo3D’s use of non-GAAP information, including a reconciliation to accounting principles generally accepted in the United States of America ("GAAP"), is provided at the end of this release under “Non-GAAP Financial Information”. The non-GAAP financial measures presented in this release should not be considered as the sole measure of the Company’s

performance and should not be considered in isolation from, or as a substitute for, comparable financial measures calculated in accordance with GAAP.

2. Non-GAAP net loss and non-GAAP net loss per basic and diluted share exclude stock-based compensation expense, loss on warrant cancellation, fair value adjustments for the Company’s warrants and earnout liabilities, impairment of equipment subject to operating lease, and non-routine inventory adjustments for excess and obsolete inventory.

Summary of First Quarter 2026 Results

Total Revenue was $13.8 million. 3D Printer and parts revenue increased 60% compared to the first quarter of 2025, driven by an increase in the average selling price, number of systems sold, and an increase in RPS revenues. While system sales are expected to remain the primary driver of revenue in 2026, the Company anticipates that, under its new go-to-market strategy, its RPS parts production business will contribute an increasing share of revenue.

Gross margin for the first quarter was 17.2% compared to 7.5% in the first quarter of 2025. This change was primarily driven by the higher average selling price of Sapphire XC systems and increased RPS volume.

Operating expenses for the first quarter were $9.3 million compared to $12.2 million in the first quarter of 2025. Non-GAAP adjusted operating expenses, excluding stock-based compensation recorded in operating expenses of $1.2 million, were $8.1 million, down from $8.8 million in the first quarter of 2025.

GAAP net loss for the first quarter was ($7.0) million compared to ($25.0) million in the first quarter of 2025. Non-GAAP net loss for the first quarter was ($5.1) million compared to ($9.0) million in the three months ended March 31, 2025. Adjusted EBITDA for the first quarter was ($3.6) million compared to ($6.9) million in the first quarter of 2025. For more information regarding the Company’s non-GAAP financial measures, see “Non-GAAP Financial Informatio

EX-99.1

2 velo-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Velo3D Announces Fourth Quarter and Full-Year 2025 Financial Results;

Unveils Long-Term Capacity Plan Envisioning up to Approximately 400 Production Systems

• Full-year 2025 Revenue of $46 million

• Backlog of $31 million as of December 31, 2025

• Expects 2026 revenue between $60 million and $70 million

• Expects to turn EBITDA positive in the second half of 2026

• Announces demand-driven capacity plan envisioning up to approximately 400 production systems over the next decade, supported by potential asset-backed financing and expanding defense and aerospace program portfolio

FREMONT, Calif., March 24, 2026- Velo3D, Inc. (Nasdaq: VELO) ("Velo3D” or the "Company"), a leader in additive manufacturing ("AM") technology known for transforming aerospace and defense supply chains through world-class metal AM, today announced financial results for its fourth quarter and full year ended December 31, 2025.

Recent Business Developments

• Qualified as the first additive manufacturing vendor to support the U.S. Army’s Ground Vehicle Systems Center qualification initiative, accelerating AM adoption for ground combat vehicle components.

• Entered a Cooperative Research & Development Agreement (CRADA) with U.S. Army DEVCOM Ground Vehicle Systems Center, advancing additive manufacturing solutions to address critical defense supply chain challenges.

• Secured a contract from the Department of War valued at $32.6 million to support Project FORGE, prototyping and qualifying AM components to eliminate defense manufacturing bottlenecks.

• Secured a multi‑year $11.5 million full rate production Rapid Production Solutions (“RPS”) contract from a key U.S. defense prime contractor to supply essential components for a national security program.

• Enabled Intergalactic, a GE Aerospace company, to manufacture IN718 microtube heat exchanger headers for an accelerated aviation program timeline, going from design to printed parts in weeks using Velo3D's Rapid Production Solutions (RPS) offering and Sapphire XC platform.

• Raised $30 million through a private placement of common stock, led by institutional investors to support growth, capital expenditures and expanded RPS demand.

• Completed an aggregated $15 million debt to equity conversion, thereby reducing debt by ~60% and substantially deleveraging the Company’s Consolidated Balance Sheet.

"We achieved double-digit revenue growth in 2025, reflecting strong demand for our Rapid Production Solutions," said Mr. Arun Jeldi, CEO of Velo3D. "Importantly, we set a new record for bookings in the fourth quarter, and with a robust backlog, we entered 2026 with tremendous momentum. Key initiatives, including the Department of War contract, multi-year defense RPS contract and adoption by the U.S. Army’s Ground Vehicle Systems Center, are accelerating our impact across defense and aerospace supply chains. Supported by private placement financing, debt-to-equity conversions that reduced outstanding debt by 60% and continued supply

chain optimization, we believe we are well positioned to drive growth and deliver long-term value as we scale our operations globally."

"Demand signals across the market are strong and clear, with accelerating interest in our Rapid Production Solutions and large-format additive manufacturing capabilities," said Mr. Jeldi. "The defense sector is evolving rapidly, and as programs move from development into production and customers focus on resilient, localized supply chains, expanding our production capacity and capabilities will be critical to meeting this demand and driving the company’s growth. As individual programs scale, in some cases growing from a single production system to multiple systems within months, the compounding effect on capacity requirements is significant.”

Mr. Jeldi added, “Based on current demand trajectories and our expanding program portfolio, we have developed a long-term capacity plan envisioning up to approximately 400 production systems, ramping over the next decade, subject to securing additional financing and continued program growth. This is a practical, demand-driven buildout: as contracts grow and new programs come online, each drives incremental capacity requirements, creating a compounding growth profile. To support this expansion, we expect to raise additional capital in the near term. As an asset-rich operation, our production systems are well-suited to asset-backed debt financing, enabling us to scale our fleet with minimal dilution to shareholders. We are also exploring potential government-backed lending programs and other non-dilutive funding sources to further support capacity buildout. In addition, we are considering selective M&A opportunities in 2026 that could complement our organic growth strategy, accelerate our expansion into key defense and aerospace programs and strengthen our supply chain, particularly in feedstock and metal powder. Any equity c