Velo3D reported third-quarter 2026 revenue of USD 20.5 million on Nov. 10, up roughly 50% from USD 13.6 million in the same quarter a year earlier. New bookings for the quarter ended Sept. 30 reached USD 28.9 million, with backlog of USD 40.1 million.
Printer and parts revenue accounted for USD 18.8 million, up 57.0% from USD 12.0 million. GAAP gross margin was 26.5%, against 3.2% a year earlier.
Operating expenses rose to USD 22.7 million from USD 10.4 million. Excluding USD 5.7 million of stock-based compensation, non-GAAP adjusted operating expenses were USD 17.0 million, versus USD 9.1 million. GAAP net loss was USD 16.7 million, or USD 0.52 per basic and diluted share, compared with USD 11.2 million, or USD 0.65 per share.
Cash and cash equivalents stood at USD 75.7 million on Sept. 30, up from USD 39.0 million at Dec. 31, 2025, driven primarily by about USD 98.6 million in net financing cash during the first nine months. Total debt fell about 76% to USD 7.4 million from USD 31.0 million. Management said substantial doubt about the company's going-concern status no longer applies over the next twelve months.
Velo3D reaffirmed 2026 revenue guidance of USD 65 million to USD 75 million and non-GAAP adjusted operating expense guidance of USD 45 million to USD 55 million. It withdrew a prior expectation of greater than 30% second-half gross margin and cut capital expenditure guidance to USD 10 million to USD 20 million from USD 40 million to USD 50 million, as a substantial portion of planned spending shifts into 2027. The company now expects positive EBITDA and positive net cash from operations in 2028.
Operationally, Velo3D opened its Livermore Production Campus, Forge 1, in July 2026; phased operations have begun and the site is not yet at scale. The company also joined the Government-Industry Data Exchange Program, and Mears Machine Corporation ordered its sixth Sapphire XC system for copper-nickel additive manufacturing.
Source: Velo3D, Inc. Q3 2026 financial results press release, Nov. 10, 2026.
