Velo3D, Inc. produces metal additive three dimensional printers. The company's printers enable the production of components for space rockets, jet engines, fuel delivery systems, and other high value metal parts, which it sells or leases to customers for use in their businesses. It offers Flow, a proprietary software platform, which scans part designs for geometrical features; Sapphire and Sapphire XC printers; and Assure, a quality control system software platform that includes closed loop process metrologies. The company also provides support services. Its customers range from small- and medium-sized enterprises to Fortune 500 companies in the space, aviation, defense, energy, and industrial markets. Velo3D, Inc. was founded in 2014 and is headquartered in Campbell, California.
IPO Year: 2021
Exchange: NYSE
Website: velo3d.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/17/2022 | $5.40 | Neutral | Credit Suisse |
| 3/4/2022 | $7.00 | Neutral → Underperform | B of A Securities |
| 10/26/2021 | $15.00 | Buy | Needham |
| 10/25/2021 | Outperform | William Blair |
4 - Velo3D, Inc. (0001825079) (Issuer)
4 - Velo3D, Inc. (0001825079) (Issuer)
4 - Velo3D, Inc. (0001825079) (Issuer)
4 - Velo3D, Inc. (0001825079) (Issuer)
4 - Velo3D, Inc. (0001825079) (Issuer)
4 - Velo3D, Inc. (0001825079) (Issuer)
4 - Velo3D, Inc. (0001825079) (Issuer)
4 - Velo3D, Inc. (0001825079) (Issuer)
4 - Velo3D, Inc. (0001825079) (Issuer)
4 - Velo3D, Inc. (0001825079) (Issuer)
Credit Suisse initiated coverage of Velo3D with a rating of Neutral and set a new price target of $5.40
B of A Securities downgraded Velo3D from Neutral to Underperform and set a new price target of $7.00
Needham initiated coverage of Velo3D with a rating of Buy and set a new price target of $15.00
William Blair initiated coverage of Velo3D with a rating of Outperform
Appoints Hull Xu as Chief Financial Officer Re-alignment Initiatives Remain on Plan Velo3D, Inc. ((VLD) (the "Company" or "Velo3D"), a leading metal additive manufacturing technology company for mission-critical parts, today announced changes to its leadership structure as well as that its re-alignment initiatives to maximize cash flow and operational efficiency remain on plan. The Company has appointed Hull Xu as its new Chief Financial Officer, replacing acting CFO Bernard Chung, who will leave the Company on April 29, 2024 following the acceptance of another opportunity. Mr. Xu brings more than 15 years of corporate finance experience in the technology industry, most recently with
Velo3D, Inc. ((VLD), a leading additive manufacturing technology company for mission-critical metal parts, today announced the appointment of Nancy Krystal as Vice President, General Counsel to oversee all legal matters for the company. With over 16 dynamic years of experience in corporate law, Nancy brings a wealth of experience in navigating complex legal landscapes and spearheading pivotal deals to her new role at Velo3D. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240411950967/en/With over 16 dynamic years in corporate law, Nancy has navigated the legal landscape with finesse, spearheading pivotal deals and ensuring compl
Benny Buller Steps Down as Chief Executive Officer – Will Remain on the Board of Directors Brad Kreger, EVP of Operations has Been Appointed as Interim Chief Executive Officer The Company has Commenced a Search for a Permanent Chief Executive Officer Velo3D, Inc. ((VLD), a leading metal additive manufacturing technology company for mission-critical parts, today announced that Benny Buller has stepped down as the company's Chief Executive Officer at the request of the Company's Board of Directors, effective immediately. Mr. Buller will remain a member of the Company's Board of Directors. "I want to thank Benny for his tireless efforts over the last nine years from founding the compan
Dr. Keppler's Decades of Experience as an Additive Manufacturing Leader and Entrepreneur will Support Velo3D's Growth Goals in Europe and Around the World Velo3D, Inc. ((VLD), a leading metal additive manufacturing technology company for mission-critical parts, has appointed Dr. Adrian Keppler to its Board of Directors. Dr. Keppler has spent more than 15 years as a C-level executive in the additive manufacturing industry and his experience and leadership in the industry will help Velo3D increase adoption of its fully integrated solution in Europe and around the world. "Dr. Keppler has a wealth of knowledge and connections in the additive manufacturing industry and his experience will pr
Former Lam Research Human Resources Executive Will Focus on Growing the Company's Global Workforce During its Period of Rapid Expansion Velo3D, Inc. ((VLD), a leading metal additive manufacturing technology company for mission-critical parts, today announced it has appointed Jessie Lockhart as Chief People Officer. Lockhart brings more than 20 years of experience in human resources and people operations to the company. She holds a Ph.D. in Global Leadership and Change from Pepperdine University and most recently oversaw global talent management at Lam Research, a Fortune 300 supplier of semiconductor wafer fabrication equipment. This press release features multimedia. View the full release
The Addition Brings Decades of Experience Working With Companies and Engineers in Aviation, Aerospace, and Defense to the Board Company Also Announces the Planned Resignations of 4 Board Members Post the Successful Completion of Its Public Listing on the New York Stock Exchange Velo3D, Inc. ((VLD), a leading metal additive manufacturing technology company for mission-critical parts, has strengthened its board of directors with the addition of General Ellen Pawlikowski, an experienced commander and board member with strong roots in the aviation, space, and defense industries. This background and her in-depth knowledge of customers' needs will support the growth in adoption of Velo3D's addi
Successfully Executing on Realignment Priorities Strong Demand Provides Significant Second Quarter Visibility Strategic Review Process to Maximize Shareholder Value Remains Ongoing Continued sales execution in Q1 2024 Bookings of $17 million; 50% of orders from existing customers - $27 million in bookings since mid-December 2023 $22 million in backlog exiting Q124 Continued defense sector expansion – added 3 new customers in Q124 Q2 revenue visibility – expect >30% sequential revenue growth Successfully reduced quarterly operating expenses Down 30% year over year – down 15% sequentially (excluding one-time charges) On track for Q224 cost reduction goals Op
Velo3D, Inc. (NYSE:VLD) — a leading additive manufacturing technology company for mission-critical metal parts, announced today that it will release its first quarter 2024 financial results after the market close on Wednesday, May 15, 2024. The company will host an earnings conference call and webcast to discuss its financial results at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time the same day. The U.S. dial-in for the call is (877) 704-2771 and (201) 689-8732 for non-U.S. callers. Please ask to be joined to the Velo3D call. The live webcast of the call can be accessed from the Events page of the Investor Relations section of Velo3D's website at ir.velo3d.com, along with the company'
Leading Global Contract Manufacturer Mears Machine Acquires 2 Sapphire XC Systems – Systems to be Dedicated to Defense and Aerospace Industries Additional Orders from Leaders in the Defense and Space Industries Company Provides Preliminary First Quarter 2024 Revenue, Gross Margin, and Operating Expense Estimates Velo3D, Inc. ((VLD), a leading additive manufacturing technology company for mission-critical metal parts, today announced it has received purchase orders totaling $27 million since mid-December 2023. These orders include the purchase of 2 Sapphire XC systems by Mears Machine, a leading global contract manufacturer, where the systems will be dedicated to supplying parts for th
Successfully Executing on Strategic Realignment Priorities Strategic Review Remains Ongoing – Board of Directors in Discussions with Multiple Parties to Maximize Stockholder Value Bookings recovery As of March 26, 2024, total bookings of $15 million since mid-December 2023; >50% of orders from existing customers Successfully reduced quarterly operating expenses Down >15% sequentially (excluding one-time charges) Expect >30% reduction Q3 2023 through end of Q1 2024 in non-GAAP operating expenses Further expanded installed base - added 12 new customers in 2023 including 3 new defense customers Continued free cash flow progress – 35% year over year improvement, well
Velo3D, Inc. (NYSE:VLD) — a leading additive manufacturing technology company for mission-critical metal parts, announced today that it will release its fourth quarter and fiscal year 2023 financial results after the market close on Tuesday, March 26, 2024. The company will host an earnings conference call and webcast to discuss its financial results at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time the same day. The U.S. dial-in for the call is (877) 704-2771 and (201) 689-8732 for non-U.S. callers. Please ask to be joined to the Velo3D call. The live webcast of the call can be accessed from the Events page of the Investor Relations section of Velo3D's website at ir.velo3d.com, along
Strategic Realignment Positions the Company for Profitability Goal in FY 2024 Q323 revenue of $24 million – 26% year over year increase Significant free cash flow progress – 30% sequential improvement Completed >20% reduction in force – >15% quarterly opex savings expected Strong liquidity position – ended Q323 with $72M in cash Updated 2023 revenue guidance of $91 to $103M – result of delays in booking certain orders / impact of realignment initiatives Velo3D, Inc. ((VLD), a leading additive manufacturing technology company for mission-critical metal parts, today announced financial results for its fiscal third quarter ended September 30, 2023. "Our third quarter result
The Company's Fully Integrated Solution Will Be Used to Support Ci-Esse's Aerospace, Defense, and Motorsports Customers by Providing Mission Critical Metal Parts Velo3D, Inc. ((VLD), today announced Ci-Esse Srl, a precision machining contract manufacturer with more than 15 years of experience in additive manufacturing, has purchased a Sapphire printer from Velo3D to become the first member of its contract manufacturer network in Italy. This new, fully integrated metal additive manufacturing solution will be used to produce parts for Ci-Esse's customers in aerospace, defense, motorsports, and other industries. Ci-Esse's Sapphire printer will be calibrated to produce parts using Inconel 718
Velo3D, Inc. (NYSE:VLD) — a leading additive manufacturing technology company for mission-critical metal parts, announced today that it will release its third quarter 2023 financial results after the market close on Monday, November 6, 2023. The company will host an earnings conference call and webcast to discuss its financial results at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time the same day. The U.S. dial-in for the call is (877) 704-2771 and (201) 689-8732 for non-U.S. callers. Please ask to be joined to the Velo3D call. The live webcast of the call can be accessed from the Events page of the Investor Relations section of Velo3D's website at ir.velo3d.com, along with the company
Bernard Chung, VP of Finance, to Serve as Acting Chief Financial Officer Velo3D, Inc. ((VLD), a leading metal additive manufacturing technology company for mission-critical parts, today announced William McCombe has resigned as the company's Chief Financial Officer, effective September 29, 2023, to pursue other career opportunities. Bernard Chung, Velo3D's Vice President of Finance has been appointed Acting CFO, effective September 29, 2023. Mr. McCombe has agreed to stay on in a transition capacity through November 7, 2023 and will participate in the company's third quarter earnings conference call on November 7, 2023. "I want to thank Bill for his dedication and leadership over the la
Velo3D, Inc. (NYSE:VLD), a leading additive manufacturing technology company for mission-critical metal parts, announced today that it will release its second quarter 2023 financial results after the market close on Thursday, August 10, 2023. The company will host an earnings conference call and webcast to discuss its financial results at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time the same day. The U.S. dial-in for the call is (877) 704-2771 and (201) 689-8732 for non-U.S. callers. Please ask to be joined to the Velo3D call. The live webcast of the call can be accessed from the Events page of the Investor Relations section of Velo3D's website at ir.velo3d.com, along with the compan
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Velo3D, Inc. (OTCQX:VLDX), the leader in scalable metal 3D printing technology for production manufacturing, today announces that its common stock anticipates the commencement of trading on the OTCQX® Best Market under the symbol "VLDX" The company previously traded on the New York Stock Exchange. Trading on the OTCQX Best Market offers more than 12,000 companies efficient, cost-effective access to the U.S. capital markets. Streamlined market requirements for OTCQX are designed to help companies lower the cost and complexity of being publicly traded, while providing transparent trading for their investors. To qualify for OTCQX, companies must meet high financial standards, follow best prac
Dr. Murphree rejoins the company he helped build to drive Velo3D's product innovation, support strategic growth efforts, strengthen customer relationships, and lead realignment initiatives Velo3D, Inc. ((VLD), the leader in scalable metal 3D printing technology for production manufacturing, today announced the return of Dr. Zach Murphree as Vice President, General Manager, overseeing the company's go-to-market and product management functions. Dr. Murphree, who previously spent nearly eight years at Velo3D is rejoining the company after a brief tenure at Freeform, a startup building autonomous metal 3D printing factories. During his extensive tenure at Velo3D, Dr. Murphree was a key membe
The Wichita State University organization will use their new Sapphire 1MZ to research performance-based qualification of metal 3D-printed parts Velo3D, Inc. ((VLD), a leading metal additive manufacturing technology company for mission-critical parts, today announced that the National Institute for Aviation Research (NIAR) has purchased a Sapphire 1MZ printer to develop performance-based qualification methods of metal 3D-printed parts for airframe applications. The Sapphire 1MZ printer will be configured to produce parts in Inconel 718, a durable nickel-based alloy that provides high corrosion, oxidation, and creep resistance at extreme temperatures, which is extensively used in aerospace
Continued Focus on Realignment Priorities Company Institutes Additional Cost Reduction Programs Strategic Review Process Remains Ongoing Q2 2024 sales update 2024 year to date bookings of $21 million; >40% of orders from existing customers $17 million in backlog exiting Q2 2024 Continued defense sector expansion – >20% of 1H'24 shipments Reduced quarterly operating expenses Down 37% year over year Instituted additional cost control programs - ~30% headcount reduction Improved year over year operating cash flow in Q2 2024 Operating and financial conditions remain challenging Velo3D, Inc. (NYSE:VLD), a leading additive manufacturing technology company for
Velo3D, Inc. ((VLD), a leading additive manufacturing technology company for mission-critical metal parts, today announced that on July 8, 2024 it received notice from the New York Stock Exchange ("NYSE") that it is not in compliance with Section 802.01B of the NYSE Listed Company Manual because its average total market capitalization over a consecutive 30 trading-day period was less than $50 million and, at the same time, its stockholders' equity was less than $50 million. As of July 5, 2024, the company's 30 trading-day average market capitalization was approximately $36.6 million and its last reported stockholders' deficit, as of March 31, 2024, was approximately ($45.5) million. In ac
The large-format printer will be configured for Aheadd CP1, supports the continued development of critical defense-related high-critical programs and opportunities initiated by Velo3D Velo3D, Inc. ((VLD), a leading metal additive manufacturing technology company for mission-critical parts, today announced Mears Machine Corporation, a leader in precision machining solutions, has acquired a Sapphire XC printer to bolster its additive manufacturing capabilities. This strategic investment underscores Mears Machine's commitment to adopting advanced manufacturing technologies and follows the previous purchase of two Velo3D Sapphire XCs announced earlier this year. The new Velo3D Sapphire XC p
Board of Directors Cites Strategic Re-Alignment Success and Improved Business Momentum Over the Last 6 Months Velo3D, Inc. ((VLD), a leading additive manufacturing technology company for mission-critical metal parts, today announced that its Board of Directors has formally appointed Brad Kreger, who has been serving as the company's Interim Chief Executive Officer since December 2023, as the company's permanent Chief Executive Officer. The Board of Directors cited the success of Velo3D's re-alignment initiatives under Mr. Kreger as well as his implementation of strategic initiatives that have resulted in business momentum over the last 6 months. This press release features multimedia. Vi
Velo3D, Inc. ((VLD) (the "Company" or "Velo3D"), a leading metal additive manufacturing technology company for mission-critical parts, today announced that its board of directors has approved a 1-for-35 reverse stock split of the Company's common stock. The common stock will open for trading on the New York Stock Exchange ("NYSE") on Thursday, June 13, 2024, on a split-adjusted basis under the current trading symbol "VLD". In connection with the reverse stock split, the CUSIP numbers for the Company's common stock will change to 92259N 203. The reverse stock split is intended to enable Velo3D to regain compliance with the minimum share price required for continued listing on NYSE. The rever
Successfully Executing on Realignment Priorities Strong Demand Provides Significant Second Quarter Visibility Strategic Review Process to Maximize Shareholder Value Remains Ongoing Continued sales execution in Q1 2024 Bookings of $17 million; 50% of orders from existing customers - $27 million in bookings since mid-December 2023 $22 million in backlog exiting Q124 Continued defense sector expansion – added 3 new customers in Q124 Q2 revenue visibility – expect >30% sequential revenue growth Successfully reduced quarterly operating expenses Down 30% year over year – down 15% sequentially (excluding one-time charges) On track for Q224 cost reduction goals Op
Velo3D, Inc. (NYSE:VLD) — a leading additive manufacturing technology company for mission-critical metal parts, announced today that it will release its first quarter 2024 financial results after the market close on Wednesday, May 15, 2024. The company will host an earnings conference call and webcast to discuss its financial results at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time the same day. The U.S. dial-in for the call is (877) 704-2771 and (201) 689-8732 for non-U.S. callers. Please ask to be joined to the Velo3D call. The live webcast of the call can be accessed from the Events page of the Investor Relations section of Velo3D's website at ir.velo3d.com, along with the company'