What is the market's earnings forecast for Velo3D next quarter?

What is Velo3D's latest dividend and current dividend yield?

What guidance did Velo3D's management provide for the next earnings period?

What does Velo3D do and what are its main business segments?

What factors drove the changes in Velo3D's revenue and profit?

What is Velo3D's gross profit margin?

What is the revenue and EPS growth rate for Velo3D year over year?

What were the key takeaways from Velo3D’s earnings call?

- **Revenue Growth Accelerates**: Q3 2025 revenue up 65% YoY to $13.6M, with RPS driving 20-30% of total revenue
- **Margin Expansion Path**: Q4 gross margin >30% through RPS scale and efficient system builds
- **Defense & Space Dominance**: 70% of $21M backlog in defense/space, with DOD RFPs up 3x YoY
- **Financial Strength**: $11.8M cash, $17.5M Nasdaq uplisting, and $40-50M 2025 OpEx guidance
- **Strategic Wins**: AS 9100D certification, $6M Navy deal, and Dyndrite software integration

**【CEO Opening Remarks】**
- Q3 2025 revenue reached $13.6 million, up 65% YoY, driven by RPS (Rapid Production Services) expansion and system sales growth.
- Backlog increased to $21 million (from $16 million Q2), with 70% tied to defense and space programs.
- Key milestones:
  - Signed $6M with U.S. Navy for copper-nickel alloy qualification
  - AS 9100D certification for RPS quality system
  - Integrated Dyndrite LPBF Pro software for AI-driven process optimization
  - $17.5M Nasdaq uplisting and public offering to strengthen balance sheet
- 2025 full-year guidance: $50-60M revenue, >30% Q4 gross margin, $40-50M non-GAAP OpEx

**【CFO Financial Commentary】**
- Q3 2025 Financial Highlights:
  - GAAP Net Loss: $11.8M (vs. $23.1M YoY)
  - Non-GAAP Net Loss: $9.2M (vs. $14.5M YoY)
  - Adjusted EBITDA: -$7.3M (vs. -$9.7M YoY)
  - Cash: $11.8M (vs. $1.2M YoY)
- Margin Dynamics:
  - Gross Margin: 3.2% (vs. 49.4% YoY one-time license)
  - Sequential GM improvement from RPS scale and efficient system sales
  - Targeting >30% Q4 GM through RPS expansion and new system builds
- Expense Management:
  - OpEx: $11.1M (vs. $22.9M YoY)
  - Non-GAAP OpEx: $9M (excluding $2M stock comp)

**【Q&A Highlights】**
1. Government Shutdown Impact:
   - Minimal impact on Q3 bookings
   - Defense programs already approved
   - Potential delay in prime contractor signings
2. RPS Revenue Mix:
   - Q3 RPS >20% of total revenue
   - Full-year RPS 20-30% of revenue
3. Defense/Space Momentum:
   - Munitions programs accelerating
   - Shipbuilding modernization
   - Space propulsion systems ramping
4. DOD Demand Velocity:
   - RFPs up 3x YoY
   - 70%+ DOD orders for copper-nickel parts
   - Aluminum CP1 qualification driving defense metal adoption

Velo3D Inc (VELO) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

VELO

VELO fundamentals

You can ask Aime