Velo3D Inc Financials
This page shows Velo3D Inc (VELO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Velo3D Inc has an operating margin of -200.8%, meaning the company retains $-201 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -172.1% the prior year.
Velo3D Inc's revenue declined 47.1% year-over-year, from $77.4M to $41.0M. This contraction results in a growth score of 0/100.
Velo3D Inc carries a low D/E ratio of 0.14, meaning only $0.14 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Velo3D Inc's current ratio of 1.52 indicates adequate short-term liquidity, earning a score of 41/100. The company can meet its near-term obligations, though with limited headroom.
While Velo3D Inc generated -$32.7M in operating cash flow, capex of $9K consumed most of it, leaving -$32.7M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Velo3D Inc passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Velo3D Inc generates $0.45 in operating cash flow (-$32.7M OCF vs -$73.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Velo3D Inc earns $-5.2 in operating income for every $1 of interest expense (-$82.3M vs $16.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Velo3D Inc generated $41.0M in revenue in fiscal year 2024. This represents a decrease of 47.1% from the prior year.
Velo3D Inc's EBITDA was -$77.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 37.5% from the prior year.
Velo3D Inc generated -$32.7M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 69.4% from the prior year.
Velo3D Inc reported -$73.3M in net income in fiscal year 2024. This represents an increase of 45.8% from the prior year.
Velo3D Inc earned $-5.77 per diluted share (EPS) in fiscal year 2024. This represents an increase of 75.9% from the prior year.
Velo3D Inc held $1.2M in cash against $5.7M in long-term debt as of fiscal year 2024.
Velo3D Inc had 195M shares outstanding in fiscal year 2024. This represents a decrease of 2.9% from the prior year.
Velo3D Inc's gross margin was -5.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 28.8 percentage points from the prior year.
Velo3D Inc's operating margin was -200.8% in fiscal year 2024, reflecting core business profitability. This is down 28.8 percentage points from the prior year.
Velo3D Inc's net profit margin was -178.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 4.3 percentage points from the prior year.
Velo3D Inc invested $17.1M in research and development in fiscal year 2024. This represents a decrease of 59.3% from the prior year.
Velo3D Inc invested $9K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 99.1% from the prior year.
VELO Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $13.6M+0.5% | $13.6M+45.6% | $9.3M-26.2% | $12.6M+53.1% | $8.2M-20.3% | $10.3M+5.7% | $9.8M+298.6% | $2.5M |
| Cost of Revenue | $13.2M-12.9% | $15.2M+75.8% | $8.6M-34.0% | $13.1M+213.0% | $4.2M-68.5% | $13.2M+5.1% | $12.6M-62.9% | $34.0M |
| Gross Profit | $433K+127.3% | -$1.6M-327.8% | $697K+257.0% | -$444K-110.9% | $4.1M+240.5% | -$2.9M-2.9% | -$2.8M+91.1% | -$31.5M |
| R&D Expenses | $3.0M+6.9% | $2.8M+134.7% | $1.2M-60.7% | $3.1M-30.6% | $4.4M-2.4% | $4.5M-9.9% | $5.0M-49.0% | $9.9M |
| SG&A Expenses | $6.0M0.0% | $6.0M-33.9% | $9.1M-44.1% | $16.3M+6.1% | $15.4M+75.0% | $8.8M+0.3% | $8.8M-19.3% | $10.9M |
| Operating Income | -$10.6M+12.1% | -$12.1M-1.4% | -$11.9M+44.6% | -$21.5M-13.9% | -$18.9M+8.0% | -$20.5M+4.3% | -$21.4M+62.7% | -$57.4M |
| Interest Expense | $1.2M-23.8% | $1.6M+46.9% | $1.1M-64.9% | $3.0M-14.4% | $3.6M-34.8% | $5.5M+40.2% | $3.9M-36.5% | $6.1M |
| Income Tax | -$14K-115.7% | $89K+1012.5% | $8K+140.0% | -$20K | $0+100.0% | -$4K-200.0% | $4K | $0 |
| Net Income | -$11.8M+14.0% | -$13.8M+45.9% | -$25.4M-17.2% | -$21.7M+6.2% | -$23.1M-13344.8% | -$172K+99.4% | -$28.3M+49.6% | -$56.1M |
| EPS (Diluted) | $-0.69+29.6% | $-0.98 | $-0.13 | N/A | $-37.54-12413.3% | $-0.30 | $-3.81 | N/A |
VELO Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $93.9M+19.5% | $78.6M-14.0% | $91.4M+2.5% | $89.2M-19.5% | $110.8M-5.0% | $116.7M-14.3% | $136.1M-11.5% | $153.8M |
| Current Assets | $59.2M+21.0% | $48.9M-20.8% | $61.8M+7.0% | $57.7M-27.7% | $79.8M-2.9% | $82.2M-16.4% | $98.3M-13.0% | $113.0M |
| Cash & Equivalents | $11.8M+1286.7% | $854K-77.9% | $3.9M+219.3% | $1.2M-26.0% | $1.6M-33.5% | $2.5M-68.2% | $7.8M-68.3% | $24.5M |
| Inventory | $35.4M-7.9% | $38.4M-16.7% | $46.1M-7.6% | $50.0M-19.4% | $62.0M+4.1% | $59.5M-5.2% | $62.8M+3.3% | $60.8M |
| Accounts Receivable | $6.7M+23.7% | $5.4M+18.1% | $4.6M+22.7% | $3.7M-63.5% | $10.2M+22.5% | $8.3M-28.4% | $11.7M+21.6% | $9.6M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $63.7M+11.8% | $57.0M-2.6% | $58.5M+18.2% | $49.5M-35.2% | $76.4M+18.3% | $64.5M-28.8% | $90.7M+6.1% | $85.5M |
| Current Liabilities | $37.6M-12.1% | $42.7M-2.6% | $43.9M+15.5% | $38.0M-40.3% | $63.7M+31.1% | $48.6M-20.2% | $60.9M+25.0% | $48.7M |
| Long-Term Debt | $23.0M+313.8% | $5.6M-74.3% | $21.7M+282.2% | $5.7M-82.4% | $32.3M-3.7% | $33.5M-23.9% | $44.0M0.0% | $44.0M |
| Total Equity | $30.2M+40.0% | $21.5M-34.5% | $32.9M-17.1% | $39.7M+15.2% | $34.4M-34.0% | $52.1M+14.7% | $45.5M-33.5% | $68.3M |
| Retained Earnings | -$481.3M0.0% | -$481.3M-5.6% | -$455.7M-5.9% | -$430.3M-5.3% | -$408.6M-6.0% | -$385.5M0.0% | -$385.4M-7.9% | -$357.0M |
VELO Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.0M-395.5% | -$1.2M+90.2% | -$12.3M-458.3% | -$2.2M-12.1% | -$2.0M+75.2% | -$8.0M+61.2% | -$20.5M+16.3% | -$24.5M |
| Capital Expenditures | $313K-82.6% | $1.8M | $0+100.0% | -$19K-195.0% | $20K+900.0% | $2K-66.7% | $6K+123.1% | -$26K |
| Free Cash Flow | -$6.3M-110.2% | -$3.0M+75.6% | -$12.3M-453.5% | -$2.2M-11.9% | -$2.0M+75.0% | -$8.0M+61.2% | -$20.5M+16.4% | -$24.6M |
| Investing Cash Flow | -$313K+82.6% | -$1.8M | $0-100.0% | $1.1M+65.6% | $678K-72.6% | $2.5M-29.2% | $3.5M-55.4% | $7.8M |
| Financing Cash Flow | $17.3M | $0-100.0% | $15.0M+2888.0% | $502K+7.3% | $468K+128.3% | $205K-28.1% | $285K+101.7% | -$17.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
VELO Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 3.2%+14.9pp | -11.7%-19.2pp | 7.5%+11.0pp | -3.5%-52.9pp | 49.4%+77.4pp | -28.0%+0.8pp | -28.8%+1254.2pp | -1283.0% |
| Operating Margin | -77.9%+11.1pp | -89.1%+38.8pp | -127.9%+42.4pp | -170.3%+58.6pp | -228.9%-30.5pp | -198.4%+20.8pp | -219.2%+2120.4pp | -2339.5% |
| Net Margin | -86.7%+14.7pp | -101.4%+171.3pp | -272.7%-100.9pp | -171.8%+108.6pp | -280.4%-278.7pp | -1.7%+287.7pp | -289.3%+1997.8pp | -2287.1% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -12.6%+4.9pp | -17.5%+10.3pp | -27.8%-3.5pp | -24.3%-3.5pp | -20.9%-20.7pp | -0.1%+20.6pp | -20.8%+15.7pp | -36.5% |
| Current Ratio | 1.57+0.4 | 1.14-0.3 | 1.41-0.1 | 1.52+0.3 | 1.25-0.4 | 1.69+0.1 | 1.62-0.7 | 2.32 |
| Debt-to-Equity | 0.76+0.5 | 0.26-0.4 | 0.66+0.5 | 0.14-0.8 | 0.94+0.3 | 0.64-0.3 | 0.97+0.3 | 0.64 |
| FCF Margin | -46.5%-24.3pp | -22.2%+110.3pp | -132.5%-114.8pp | -17.7%+6.5pp | -24.2%+52.9pp | -77.1%+132.7pp | -209.8%+790.3pp | -1000.1% |
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Frequently Asked Questions
What is Velo3D Inc's annual revenue?
Velo3D Inc (VELO) reported $41.0M in total revenue for fiscal year 2024. This represents a -47.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Velo3D Inc's revenue growing?
Velo3D Inc (VELO) revenue declined by 47.1% year-over-year, from $77.4M to $41.0M in fiscal year 2024.
Is Velo3D Inc profitable?
No, Velo3D Inc (VELO) reported a net income of -$73.3M in fiscal year 2024, with a net profit margin of -178.8%.
What is Velo3D Inc's earnings per share (EPS)?
Velo3D Inc (VELO) reported diluted earnings per share of $-5.77 for fiscal year 2024. This represents a 75.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Velo3D Inc's EBITDA?
Velo3D Inc (VELO) had EBITDA of -$77.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Velo3D Inc have?
As of fiscal year 2024, Velo3D Inc (VELO) had $1.2M in cash and equivalents against $5.7M in long-term debt.
What is Velo3D Inc's gross margin?
Velo3D Inc (VELO) had a gross margin of -5.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Velo3D Inc's operating margin?
Velo3D Inc (VELO) had an operating margin of -200.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Velo3D Inc's net profit margin?
Velo3D Inc (VELO) had a net profit margin of -178.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Velo3D Inc's free cash flow?
Velo3D Inc (VELO) generated -$32.7M in free cash flow during fiscal year 2024. This represents a 69.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Velo3D Inc's operating cash flow?
Velo3D Inc (VELO) generated -$32.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Velo3D Inc's total assets?
Velo3D Inc (VELO) had $89.2M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Velo3D Inc's capital expenditures?
Velo3D Inc (VELO) invested $9K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Velo3D Inc spend on research and development?
Velo3D Inc (VELO) invested $17.1M in research and development during fiscal year 2024.
How many shares does Velo3D Inc have outstanding?
Velo3D Inc (VELO) had 195M shares outstanding as of fiscal year 2024.
What is Velo3D Inc's current ratio?
Velo3D Inc (VELO) had a current ratio of 1.52 as of fiscal year 2024, which is generally considered healthy.
What is Velo3D Inc's debt-to-equity ratio?
Velo3D Inc (VELO) had a debt-to-equity ratio of 0.14 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Velo3D Inc's return on assets (ROA)?
Velo3D Inc (VELO) had a return on assets of -82.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Velo3D Inc's cash runway?
Based on fiscal year 2024 data, Velo3D Inc (VELO) had $1.2M in cash against an annual operating cash burn of $32.7M. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Velo3D Inc's Piotroski F-Score?
Velo3D Inc (VELO) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Velo3D Inc's earnings high quality?
Velo3D Inc (VELO) has an earnings quality ratio of 0.45x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Velo3D Inc cover its interest payments?
Velo3D Inc (VELO) has an interest coverage ratio of -5.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Velo3D Inc?
Velo3D Inc (VELO) scores 28 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.