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Velo3D (VLD) investor relations material
Velo3D Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue reached $13.6M, up 31–32% year-over-year, driven by rapid RPS adoption, higher 3D printer sales, and strategic wins in space and defense sectors.
RPS bookings grew 79% quarter over quarter, with 78% of growth from new customers and 86–87% of demand from space and defense.
Major multi-year agreements signed with Vaya Space ($4M), Amaero ($22M), and Momentus ($15M), reinforcing leadership in mission-critical manufacturing.
Operational execution, cost reduction, and financial discipline are driving improved visibility, margin expansion, and a path to profitability.
Leadership expanded with new executive and board appointments.
Financial highlights
Q2 2025 revenue was $13.6M, up from $10.3M in Q2 2024; gross margin improved to (11.7%) from (28.0%) year-over-year.
Adjusted EBITDA for Q2 2025 was $(8.9)M, improved from $(15.0)M in Q2 2024.
Non-GAAP operating expenses declined to $8.1M from $13.4M year-over-year.
GAAP net loss was $(13.8)M; non-GAAP net loss was $(11.3)M, both improved from prior year.
Cash and cash equivalents stood at $854K–$900K at quarter end, down from $1.2M at year-end 2024.
Outlook and guidance
2025 revenue guidance reiterated at $50M–$60M, with gross margin expected to exceed 30% by Q4 2025.
Non-GAAP operating expenses projected at $40M–$50M; capital expenditures at $15M–$20M.
Clear path to adjusted EBITDA profitability by H1 2026, driven by higher-margin RPS and operational efficiency.
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