Q2 2026 Velo3D Inc Earnings Call Transcript
Key Points
- Revenue increased 52.3% year-over-year to $20.7 million, driven by strong aerospace and defense demand.
- Gross margin expanded significantly to 21.5% from negative 11.7% in the prior year, reflecting improved operational efficiency.
- Backlog grew to $31 million, up from $16 million a year ago, indicating strong future demand.
- Balance sheet strengthened with cash at $91.1 million and debt reduced by over 70% to $8.2 million.
- New Livermore Production Campus is expected to triple manufacturing capacity, positioning for growth.
- Operating expenses increased to $15.5 million from $10.0 million a year ago, driven by hiring and cost reclassification.
- Adjusted EBITDA remained negative at -$8.1 million, though improved from -$8.9 million.
- Company still faces significant capacity constraints, with demand exceeding current production capabilities.
- Livermore facility is not yet operational, with ramp-up expected to begin in late 2026 and continue into 2027.
- Capital expenditures remain high at $40-50 million, subject to financing availability.
Greetings and welcome to the Velo3D Inc. second quarter 2026 financial results. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, James Carbonara, Investor Relations. Thank you. You may begin.
Thank you, operator. Good afternoon, everyone, and welcome to Velo3D's second quarter 2026 earnings call.
Before we begin, please note that today's call will contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 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 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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