After months of cost cuts and restructuring, Velo3D (Nasdaq: VELO) says it’s turning a corner. The company, which recently uplisted to Nasdaq under the ticker VELO, reported its latest quarterly results and highlighted new funding, defense work, and a clearer path to profitability in 2026.

After a rough stretch in recent years, Velo3D’s latest quarter suggests the company is regaining momentum. Revenue increased year-over-year, the company cut expenses nearly in half, and losses narrowed significantly. While it’s not profitable yet, Velo3D reaffirmed that it expects to reach positive earnings before interest, taxes, depreciation, and amortization (EBITDA) during the first half of 2026.

The company posted revenue of $13.6 million in Q3, up from $8.2 million in the same quarter a year earlier, driven mainly by higher system and parts sales. It cut operating expenses nearly in half to $11.1 million, reflecting its cost-reduction push. Net loss narrowed to $11.8 million from $23.1 million a year ago, while adjusted losses also improved as Velo3D moved closer to its goal of reaching positive EBITDA in the first half of 2026.

CEO Arun Jeldi said the company is “strengthening operational efficiency and positioning for sustained growth,” pointing to renewed demand for its Rapid Production Services (RPS) and building new partnerships in aerospace and defense. Momentum in RPS remains strong, with a backlog that is up 22% from the prior quarter. New customers accounted for about 9% of bookings during the period, while space and defense made up nearly half of overall demand. Those include work with the U.S. Navy’s Maritime Industrial Base Program to develop and qualify copper-nickel alloys for faster ship repairs, and participation in a U.S. Army initiative to advance high-throughput aluminum printing for defense applications. Velo3D also teamed up with Linde AMT to supply domestically produced copper-nickel powder for its printers, and earned AS9100D certification, confirming that its RPS operations meet the quality standards for aviation and space.

Reaper turbopump showcased by Velo3D at RAPID + TCT 2023. Image courtesy of Velo3D via LinkedIn.

Velo3D previously traded over the counter after leaving the New York Stock Exchange (NYSE) and is now back on a major exchange with its Nasdaq listing. To support the Nasdaq move and improve its liquidity, Velo3D raised roughly $17.5 million through a public stock sale and secured another $15 million in financing during the quarter. Cash on hand grew to $11.8 million at the end of September, up sharply from the start of the year. The company’s backlog reached about $21 million, with nearly half of the new orders coming from the space and defense sectors.

Velo3D is also expanding its technology base. The company announced the integration of Dyndrite’s LPBF Pro software across its Sapphire printer line, giving customers more control over laser parameters for better precision and process optimization. It also signed new research and production agreements to qualify materials such as copper-nickel and aluminum alloys for military and maritime use.

Looking ahead, Velo3D has maintained its full-year revenue target of between $50 million and $60 million and expects margins to improve steadily, projecting a gross margin above 30% by the final quarter of 2025.

Meanwhile, the Nasdaq listing helps the company by giving it visibility once again, access to funds, and perhaps even a renewed credibility for one of metal 3D printing’s pioneering businesses.

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3D Printing Financials: Velo3D Lists on Nasdaq and Tightens Its Path to Profitability

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