Velo3D's Q3 revenue rises 50%, beats estimates
Overview
US metal 3D printing firm's preliminary Q3 revenue rose 50% yr/yr, beating analyst expectations
Adjusted net loss for Q3 widened and missed analyst expectations
Gross margin improved to 26.5% from 3.2% on higher prices, efficiencies and product mix
Outlook
Velo3D reaffirms 2026 revenue guidance of $65 mln to $75 mln
Company lowers 2026 gross margin outlook, no longer expects >30% in H2 2026
Capital expenditures for 2026 now seen at $10 mln to $20 mln, down from $40 mln to $50 mln
Result Drivers
HIGHER SYSTEM SALES - Revenue growth was driven by an increase in the number of 3D printer systems sold, higher average selling prices and a more favorable product mix
MANUFACTURING EFFICIENCIES - Gross margin improvement attributed to higher average selling prices, improved manufacturing efficiencies, and increased production volumes that improved absorption of fixed manufacturing costs
OPERATING EXPENSES UP - Operating expenses rose as co invested in people, technology and operational capabilities to bring the Livermore Production Campus (Forge 1) online and prepare for expanded production
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $20.45 mln | $19.34 mln (4 Analysts) |
Q3 Adjusted Loss Per Share | $0.34 | ||
Q3 Loss Per Share | $0.52 | ||
Q3 Adjusted Net Loss | Miss | $10.83 mln | $8.26 mln (3 Analysts) |
Q3 Net Loss | $16.69 mln | ||
Q3 Gross Margin | 26.5% |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electronic equipment & parts peer group is "buy"
Wall Street's median 12-month price target for Velo3D Inc is $23.00, about 269.2% above its November 9 closing price of $6.23
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)