Velo3D, Inc. - VLD STOCK NEWS

Mears Machine has acquired its third Velo3D Sapphire XC metal 3D printer. This large-format printer will use Aheadd CP1 aluminum alloy, enhancing Mears Machine's capacity for critical defense-related projects. Aheadd CP1's reduced post-printing heat treatment and improved electrical and thermal properties make it ideal for mission-critical parts. Velo3D's scalable manufacturing solution allows Mears to easily increase production volume, helping customers navigate supply chain challenges. The Sapphire XC printer's large format and unique print capabilities, including eight 1-kilowatt lasers, position Mears as a leader in advanced additive manufacturing.

Velo3D (NYSE: VLD) has officially appointed Brad Kreger as its permanent Chief Executive Officer after serving as Interim CEO since December 2023. Kreger previously held the role of EVP of Operations. The Board of Directors attributed this decision to Kreger's successful implementation of strategic initiatives that have driven business momentum and realigned the company over the past 6 months.

Key achievements under Kreger's leadership include resolving all high-priority tickets in Q1 2024, booking $27 million in new orders since mid-December (with 50% from existing customers), reducing system installation time by over 40%, and cutting operating expenses by 30% year-over-year.

The Board expressed confidence in Kreger's ability to position Velo3D for future success, citing improved customer satisfaction and increased orders, particularly in the defense sector, where Velo3D is a unique U.S.-based supplier. Kreger emphasized ongoing efforts to enhance system reliability and streamline costs to boost margins and cash flow.

Velo3D (NYSE: VLD) has announced a 1-for-35 reverse stock split of its common stock, set to begin trading on June 13, 2024, under the existing symbol “VLD”. This decision, approved by the board and stockholders, aims to meet NYSE's minimum share price requirements. Post-split, each shareholder's 35 shares will be consolidated into one share, reducing the total outstanding common shares from approximately 297 million to around 8.5 million. No fractional shares will be issued; any resulting fraction will be rounded up to one share. The par value and authorized shares remain unchanged. Proportional adjustments will apply to stock options, warrants, and equity awards. The transfer agent for the split is Continental Stock Transfer & Trust Company. For more details, refer to the definitive proxy statement filed with the SEC on April 29, 2024.

Velo3D reported its Q1 2024 financial results, showcasing a strong start with $17 million in new bookings and a backlog of $22 million. The company sees over 30% sequential revenue growth for Q2 and has reduced operating expenses by 30% year-over-year. Revenue for Q1 was $9.8 million, with a GAAP net loss of $28.3 million. Despite the loss, Velo3D expects to achieve cash flow breakeven in the second half of 2024. Key highlights include a 35% improvement in operating cash flow year-over-year and the addition of three new defense sector customers. The company remains focused on improving gross margins and cost structures.

Velo3D, a leading additive manufacturing technology company, will announce its first quarter 2024 financial results on May 15, 2024. The company will host an earnings conference call and webcast to discuss the results on the same day.

Velo3D, Inc. announces executive leadership changes with the appointment of Hull Xu as Chief Financial Officer. Re-alignment initiatives to maximize cash flow and operational efficiency remain on plan. Michelle Sidwell appointed as Chief Commercial Officer. Renette Youssef, Chief Marketing Officer, to leave the company. CEO Brad Kreger praises strategic initiative execution and growth in new orders.

Velo3D, a leading additive manufacturing technology company, closed a $12 million public offering of common stock and warrants, with gross proceeds of approximately $12 million. The offering included 34,285,715 shares of common stock at $0.35 per share, with warrants to purchase up to the same number of shares. The warrants are exercisable at $0.35 per share and expire five years after issuance. A.G.P./Alliance Global Partners acted as the sole placement agent for the offering.

Velo3D, Inc. (NYSE: VLD) appoints Nancy Krystal as Vice President, General Counsel, bringing over 16 years of corporate law experience to oversee legal matters. Nancy's expertise includes regulatory compliance, M&A, corporate governance, and strategic deal-making. Her track record includes leading multi-billion-dollar transactions and compliance programs. The appointment aligns with Velo3D's growth phase, enhancing legal foundation and operational integrity.

Velo3D, Inc. (NYSE: VLD) announces a public offering of common stock and warrants, raising approximately $12 million. The offering includes 34,285,715 shares of common stock and warrants to purchase up to the same number of shares. The securities were sold at $0.35 per share to institutional investors. The warrants are exercisable at the same price and expire in five years.