Q4 2025 Velo3D Inc Earnings Call Transcript
Key Points
- Velo3D Inc (VELO) achieved double-digit revenue growth in 2025, driven by accelerating demand for their Rapid Production Solutions and large-format additive manufacturing capabilities.
- The company secured a major milestone by becoming the first additive manufacturing vendor qualified under the US Army's Ground Vehicle Systems Center initiative, enhancing their position in defense supply chains.
- Velo3D Inc (VELO) reported a record backlog of approximately $31 million, indicating strong and accelerating demand.
- The company is expanding its business model beyond hardware to include digital manufacturing data and analytics, aiming to create a connected ecosystem for real-time insights.
- Velo3D Inc (VELO) plans to significantly increase production capacity and is exploring asset-backed and government-backed financing to support growth with minimal dilution.
- Fourth-quarter revenue decreased by 25% compared to the previous year, primarily due to product mix and timing related to a government shutdown.
- Gross margin for the fourth quarter was negative 73.6%, significantly worse than the previous year's negative 3.5%, impacted by a $7 million inventory obsolescence write-off.
- The company reported a GAAP net loss of $21.9 million for the quarter, slightly higher than the previous year's net loss of $21.3 million.
- Full-year 2025 gross margin was negative 16.1%, a decline from negative 5.1% in the prior year.
- Velo3D Inc (VELO) anticipates the need to raise additional capital to support expansion plans, which could pose financial risks if not managed effectively.
Greetings and welcome to the Velo3D fiscal year 2025 financial results.
(Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, James Carbonara, Hayden Investor Relations. Thank you, James. You may begin.
Thank you, operator. Good afternoon and welcome to Velo3D's fourth-quarter and full-year 2025 earnings call.
Before we begin, please note that today's call will contain forward-looking statements within the meaning (technical difficulty) 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Please refer to our press release issued earlier today, as well as our filings with the SEC, including our 2025 Form 10-K, for a discussion of these risks.
We will also reference certain non-GAAP financial measures during the call. Reconciliations between GAAP and non-GAAP results can be found in today's press release, which is available on
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