Velo3D, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 09:05 pm
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Velo3D, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 24.06 million compared to USD 19.12 million a year ago. Net loss was USD 17.15 million compared to USD 75.2 million a year ago. Basic loss per share from continuing operations was USD 0.09 compared to USD 0.41 a year ago. Diluted loss per share from continuing operations was USD 0.09 compared to USD 0.41 a year ago.
For the nine months, revenue was USD 76.01 million compared to USD 50.98 million a year ago. Net loss was USD 76.55 million compared to USD 12.59 million a year ago. Basic loss per share from continuing operations was USD 0.39 compared to USD 0.07 a year ago. Diluted loss per share from continuing operations was USD 0.39 compared to USD 0.07 a year ago.
Velo3D, Inc. is a metal three-dimensional (3D) printing technology company. The Company produces a fully integrated hardware and software solution based on its laser powder bed fusion (L-PBF) technology. Its technology enables the production of complex, mission-critical parts that existing additive manufacturing (AM) solutions cannot produce without the need for redesign or additional assembly. Its Sapphire family of systems (3D Printers) give its customers who are in space, aviation, defense, automotive, energy and industrial markets the freedom to design and produce metal parts with complex internal features. Its end-to-end solution includes the flow print preparation software, the Sapphire family of printers, and the Assure quality control system, all of which are powered by its Intelligent Fusion manufacturing process. Its customers are primarily original equipment manufacturers and contract manufacturers who look to AM to solve issues with metal parts manufacturing technologies.