$VELO: Velo3D just reported Q3 revenue of $20.5M vs $19.3M expected, but pushed positive EBITDA out to 2028. • Revenue: $20.5M, +50% YoY
• New bookings: $28.9M, backlog $40.1M
• Gross margin: 26.5% vs 3.2% a year ago
• Non-GAAP EPS: -$0.34 vs -$0.26 expected
• Adj. EBITDA loss: $9.8M
• Cash: $75.7M, debt down to $7.4M
• FY26 revenue guide reaffirmed at $65M to $75M
• Positive EBITDA now expected in 2028, from the second half of 2026
• FY26 capex cut to $10M to $20M from $40M to $50M, with spending shifting into 2027 The prior target of more than 30% gross margin for the second half is gone. Velo3D now only guides to sequential improvement in Q4. Management also said it no longer sees substantial doubt about continuing as a going concern. "Forge 1 is central to Velo3D's next phase of growth." Arun Jeldi, CEO