Velo3D (VELO)
Market Price (10/9/2026): $8.695 | Market Cap: $256.1 MilSector: Information Technology | Industry: Technology Hardware, Storage & Peripherals
Velo3D (VELO)
Market Price (10/9/2026): $8.695Market Cap: $256.1 MilSector: Information TechnologyIndustry: Technology Hardware, Storage & Peripherals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -23% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 32% Megatrend and thematic driversMegatrends include Advanced Aviation & Space, Automation & Robotics, and Advanced Materials. Themes include Commercial Space Exploration, Show more. | Weak multi-year price returns3Y Excs Rtn is -30% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -49 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -85% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -8.8% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 15% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -93%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -102% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -23% High stock price volatilityVol 12M is 183% Key risksVELO key risks include [1] severe liquidity constraints raising substantial doubt about its ability to continue as a going concern, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -23% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 32% |
| Megatrend and thematic driversMegatrends include Advanced Aviation & Space, Automation & Robotics, and Advanced Materials. Themes include Commercial Space Exploration, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -30% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -49 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -85% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -8.8% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 15% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -93%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -102% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -23% |
| High stock price volatilityVol 12M is 183% |
| Key risksVELO key risks include [1] severe liquidity constraints raising substantial doubt about its ability to continue as a going concern, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Velo3D (VELO) stock has lost about 50% since 6/30/2026 because of the following key factors:
1. Q2 2026 Earnings Per Share Miss: Velo3D announced its fiscal Q2 2026 earnings on August 11, 2026, reporting an Earnings Per Share (EPS) of -$0.30. This figure missed the consensus estimate of -$0.27 by $0.03, representing an 11.11% surprise. Despite a revenue beat of $20.66 million, which was above the $14.15 million consensus estimate and represented 52.3% year-over-year growth, the EPS miss likely contributed significantly to negative investor sentiment.
2. Departure of Chief Financial Officer: The company announced on October 5, 2026, that Chief Financial Officer James Suva departed from Velo3D on September 28, 2026. The abrupt departure of a key executive like the CFO can create uncertainty and concern among investors, leading to a negative impact on the stock price, as evidenced by reports of the stock "plummeting" or trading down 18.04% on the day this news was released.
Show more
Velo3D (VELO) stock has lost about 50% since 6/30/2026 because of the following key factors:
1. Q2 2026 Earnings Per Share Miss: Velo3D announced its fiscal Q2 2026 earnings on August 11, 2026, reporting an Earnings Per Share (EPS) of -$0.30. This figure missed the consensus estimate of -$0.27 by $0.03, representing an 11.11% surprise. Despite a revenue beat of $20.66 million, which was above the $14.15 million consensus estimate and represented 52.3% year-over-year growth, the EPS miss likely contributed significantly to negative investor sentiment.
2. Departure of Chief Financial Officer: The company announced on October 5, 2026, that Chief Financial Officer James Suva departed from Velo3D on September 28, 2026. The abrupt departure of a key executive like the CFO can create uncertainty and concern among investors, leading to a negative impact on the stock price, as evidenced by reports of the stock "plummeting" or trading down 18.04% on the day this news was released.
3. Share Dilution from Capital Raising Activities: Shareholders experienced substantial dilution, with total shares outstanding growing by 61.5% over the past year. This dilution stemmed from Velo3D's efforts to strengthen its balance sheet, including a $50 million registered direct offering and $59.4 million raised through an at-the-market program, along with $18.5 million in debt-to-equity conversions. While these actions improved the company's cash position to $91.1 million by June 30, 2026, up from $39 million at the end of 2025, the increased share count can depress per-share value.
4. Persistent Operating Losses and Going Concern Doubt: Velo3D continues to report operating losses, with a GAAP net loss of $11.5 million and a non-GAAP net loss of $9.0 million for fiscal Q2 2026. The adjusted EBITDA for the quarter was -$8.1 million. The company's financial outlook remains pressured by substantial going-concern doubt, which was initially disclosed in 2023 and was still present in March 2026, alongside prior operating losses of $54.9 million in 2025. These ongoing profitability concerns and doubts about the company's long-term viability weigh heavily on investor confidence.
Show less
Stock Movement Drivers
Fundamental Drivers
The -48.8% change in VELO stock from 6/30/2026 to 10/8/2026 was primarily driven by a -47.1% change in the company's P/S Multiple.| (LTM values as of) | 6302026 | 10082026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.55 | 8.98 | -48.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 50 | 58 | 14.1% |
| P/S Multiple | 8.7 | 4.6 | -47.1% |
| Shares Outstanding (Mil) | 25 | 29 | -15.1% |
| Cumulative Contribution | -48.8% |
Market Drivers
6/30/2026 to 10/8/2026| Return | Correlation | |
|---|---|---|
| VELO | -48.8% | |
| Market (SPY) | 3.6% | 58.2% |
| Sector (XLK) | 3.8% | 73.8% |
Fundamental Drivers
The -4.4% change in VELO stock from 3/31/2026 to 10/8/2026 was primarily driven by a -27.5% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 3312026 | 10082026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.39 | 8.98 | -4.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 46 | 58 | 25.2% |
| P/S Multiple | 4.4 | 4.6 | 5.4% |
| Shares Outstanding (Mil) | 21 | 29 | -27.5% |
| Cumulative Contribution | -4.4% |
Market Drivers
3/31/2026 to 10/8/2026| Return | Correlation | |
|---|---|---|
| VELO | -4.4% | |
| Market (SPY) | 19.3% | 35.7% |
| Sector (XLK) | 49.0% | 41.1% |
Fundamental Drivers
The 192.5% change in VELO stock from 9/30/2025 to 10/8/2026 was primarily driven by a 366.4% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 10082026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.07 | 8.98 | 192.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 44 | 58 | 31.5% |
| P/S Multiple | 1.0 | 4.6 | 366.4% |
| Shares Outstanding (Mil) | 14 | 29 | -52.3% |
| Cumulative Contribution | 192.5% |
Market Drivers
9/30/2025 to 10/8/2026| Return | Correlation | |
|---|---|---|
| VELO | 192.5% | |
| Market (SPY) | 17.1% | 30.6% |
| Sector (XLK) | 40.9% | 30.8% |
Fundamental Drivers
nullnull
Market Drivers
9/30/2023 to 10/8/2026| Return | Correlation | |
|---|---|---|
| VELO | ||
| Market (SPY) | 87.3% | 31.0% |
| Sector (XLK) | 145.6% | 31.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| VELO Return | - | - | - | - | 135% | -34% | 56% |
| Peers Return | 4% | -51% | 18% | -17% | 5% | 63% | -15% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 14% | 108% |
Monthly Win Rates [3] | |||||||
| VELO Win Rate | - | - | - | - | 40% | 30% | |
| Peers Win Rate | 35% | 38% | 50% | 40% | 50% | 55% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| VELO Max Drawdown | - | - | - | - | - | -72% | |
| Peers Max Drawdown | -71% | -61% | -57% | -57% | -48% | -35% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: DDD, SSYS, PRLB, XMTR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/8/2026 (YTD)
How Low Can It Go
VELO has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.
| Event | XLK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.7% | -18.8% |
| % Gain to Breakeven | 34.5% | 23.1% |
| Time to Breakeven | 65 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -17.0% | -7.8% |
| % Gain to Breakeven | 20.4% | 8.5% |
| Time to Breakeven | 92 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -10.0% | -9.5% |
| % Gain to Breakeven | 11.2% | 10.5% |
| Time to Breakeven | 15 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -33.1% | -24.5% |
| % Gain to Breakeven | 49.5% | 32.4% |
| Time to Breakeven | 246 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -31.2% | -33.7% |
| % Gain to Breakeven | 45.2% | 50.9% |
| Time to Breakeven | 78 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.8% | -19.2% |
| % Gain to Breakeven | 31.2% | 23.8% |
| Time to Breakeven | 100 days | 105 days |
In The Past
State Street Technology Select Sector SPDR ETF's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
VELO has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.
| Event | XLK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.7% | -18.8% |
| % Gain to Breakeven | 34.5% | 23.1% |
| Time to Breakeven | 65 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -33.1% | -24.5% |
| % Gain to Breakeven | 49.5% | 32.4% |
| Time to Breakeven | 246 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -31.2% | -33.7% |
| % Gain to Breakeven | 45.2% | 50.9% |
| Time to Breakeven | 78 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.8% | -19.2% |
| % Gain to Breakeven | 31.2% | 23.8% |
| Time to Breakeven | 100 days | 105 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -51.5% | -53.4% |
| % Gain to Breakeven | 106.2% | 114.4% |
| Time to Breakeven | 797 days | 1085 days |
In The Past
State Street Technology Select Sector SPDR ETF's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Velo3D (VELO)
Velo3D, trading under the symbol VELO, operates as a Special Purpose Acquisition Company (SPAC). Unlike traditional businesses, it does not currently engage in any significant operational activities or have its own core products or services. Its fundamental purpose is to serve as a blank check company, specifically formed to raise capital through an initial public offering (IPO) with the sole intent of acquiring or merging with an existing private company.
The company's primary objective is to identify and complete a business combination, which could involve a merger, stock exchange, asset acquisition, stock purchase, or reorganization. This strategic move is designed to bring a private operating business into the public markets. Incorporated in 2020, Velo3D's function is purely transactional, aiming to leverage its public listing to facilitate the growth and expansion of a target company.
Velo3D focuses its acquisition strategy on businesses within the "digital transformation" sector. Therefore, its primary "market" is comprised of private companies in this space that are seeking to go public. For investors, the company offers a way to invest in a future, yet-to-be-identified business within this specific industry segment, banking on the expertise of the SPAC's management to find and execute a successful merger.
```AI Analysis | Feedback
AI Analysis | Feedback
AI Analysis | Feedback
AI Analysis | Feedback
AI Analysis | Feedback
AI Analysis | Feedback
The key risks to Velo3D's business operations include its significant cash burn and funding requirements, the execution challenges in its business model transition, and a high degree of customer concentration.
-
Cash Burn and Funding Risk: Velo3D has demonstrated persistent losses and a limited cash position, with only $11.8 million in cash and cash equivalents as of September 30, 2025. The company's negative operating cash flow further highlights its reliance on external financing. To support its ambitious growth plans and achieve profitability, Velo3D may need to raise additional capital through equity or debt, which could result in shareholder dilution or higher financing costs.
-
Execution Risk of Business Model Transition: Velo3D is in the midst of a strategic turnaround, shifting its business model from primarily hardware sales to a more recurring, service-driven structure through its Rapid Production Services (RPS) program. The company aims to achieve positive earnings before interest, taxes, depreciation, and amortization (EBITDA) by the first half of 2026, contingent upon successfully scaling consumables sales, service contracts, and RPS bookings. There are concerns regarding manufacturing inefficiencies and a history of inconsistent performance, making the achievement of these operational and financial targets far from guaranteed.
-
Customer Concentration: A substantial portion of Velo3D's revenue is derived from a small number of customers. As of September 2025, the top three customers accounted for 51% of the company's revenue. This level of customer concentration makes Velo3D vulnerable to significant impacts on its financial results should there be any sudden delays, cancellations, or changes in demand from these key buyers.
AI Analysis | Feedback
AI Analysis | Feedback
Velo3D (NASDAQ: VELO) operates within the metal additive manufacturing (3D printing) industry, providing integrated solutions including hardware (Sapphire® printers), software (Flow™ and Assure™), and services (Rapid Production Solutions). The company's technology is primarily used for mission-critical metal parts in sectors such as aerospace, defense, energy, automotive, and healthcare.
The addressable markets for Velo3D's main products and services can be defined by the broader additive manufacturing market and the more specific metal 3D printing market.
Global Additive Manufacturing Market
- The global additive manufacturing market size was estimated at USD 20.37 billion in 2023 and is projected to reach USD 88.28 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 23.3% from 2024 to 2030.
- Another estimate places the global additive manufacturing market size at USD 25.92 billion in 2025, with a projection to increase to approximately USD 125.94 billion by 2034, expanding at a CAGR of 19.29% from 2025 to 2034.
- Other reports indicate the market was valued at USD 113.1 billion in 2025 and is projected to reach USD 647.7 billion by 2035, growing at a CAGR of 21.4% during the forecast period of 2026-2035.
Global Metal 3D Printing Market
- The global metal 3D printing market size was estimated at USD 7.73 billion in 2023 and is projected to reach USD 35.33 billion by 2030, growing at a CAGR of 24.2% from 2024 to 2030.
- Another assessment values the global metal 3D printing market size at USD 12.04 billion in 2025, with an anticipated increase to approximately USD 102.32 billion by 2035, expanding at a CAGR of 23.86% from 2026 to 2035.
- The global 3D printing metals market size was valued at USD 3.05 billion in 2025 and is projected to grow to USD 15.78 billion by 2034 at a CAGR of 20.3% during the forecast period.
Regional Market Share (North America)
- North America is a significant region for both additive manufacturing and metal 3D printing. It dominated the additive manufacturing market in 2022, accounting for a revenue share of more than 34%. In 2024, North America led the additive manufacturing market with over 37% share.
- Specifically for the U.S., the additive manufacturing market size was USD 6.64 billion in 2025 and is estimated to reach around USD 33.83 billion by 2034.
- In the metal 3D printing market, North America also held a dominant position with a revenue share of 33.81% in 2023, and 34% in 2025. North America's share of the global 3D printing metals market was 41.30% in 2025, valued at USD 1.26 billion.
AI Analysis | Feedback
AI Analysis | Feedback
Share Issuance
- Velo3D's shares outstanding significantly increased by 2,149.48% in one year.
- In March 2025, a debt and warrant exchange was completed where Arrayed Notes Acquisition Corp. became Velo3D's majority shareholder, significantly strengthening the balance sheet.
- Velo3D announced a $30 million private placement of common stock on December 22, 2025.
Inbound Investments
- Arrayed Notes Acquisition Corp. acquired a majority stake in Velo3D as part of a debt and warrant exchange completed in March 2025.
- Velo3D announced it expected to receive $29.7 million in funding on December 22, 2025, corresponding to a $30 million private placement of common stock.
Capital Expenditures
- For fiscal year 2025, management expected capital expenditures to be in the range of $15 million to $20 million.
- In the last 12 months, capital expenditures were -$2.09 million (as of March 6, 2026).
Peer Outperformance in Technology Hardware, Storage & Peripherals
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 9 | 52.3% | 177.6% | 382.8% | TTMI 789% · FLEX 734% · SANM 433% |
| Semiconductor Materials & Equipment | 27 | 85.4% | 101.0% | 122.7% | AXTI 789% · KLAC 533% · LRCX 513% |
| Technology Distributors | 9 | 45.8% | 84.6% | 93.2% | CLMB 418% · AVT 206% · SNX 171% |
| Electronic Components | 26 | 29.0% | 72.5% | 72.6% | CLS 3721% · BELFA 1285% · COHR 428% |
| Communications Equipment | 36 | 2.4% | 96.8% | 67.4% | AAOI 1460% · LITE 1146% · FEIM 827% |
| Semiconductors | 55 | 19.0% | 56.9% | 33.1% | POET 1628% · MU 1413% · NVDA 1011% |
| Technology Hardware, Storage & Peripherals ← | 20 | 22.0% | 118.0% | 32.9% | DELL 1095% · SMCI 1060% · STX 1017% |
| Internet Services & Infrastructure | 6 | -5.6% | 42.2% | 23.0% | DOCN 48% · GDDY 47% · VRSN 47% |
| Electronic Equipment & Instruments | 26 | -19.2% | 26.1% | -9.3% | PI 248% · KEYS 132% · VPG 105% |
| IT Consulting & Other Services | 28 | -22.9% | -7.3% | -20.8% | CHRN 500689% · APLD 828% · TSSI 806% |
| Application Software | 125 | -25.6% | -15.2% | -43.6% | VIDA 1374900% · INLX 5153% · PLTR 746% |
| Systems Software | 71 | -15.8% | 22.0% | -52.6% | QNC 572% · PAYS 471% · SANG 401% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 8.74 |
| Mkt Cap | 0.7 |
| Rev LTM | 547 |
| Op Inc LTM | -49 |
| FCF LTM | -25 |
| FCF 3Y Avg | -27 |
| CFO LTM | -5 |
| CFO 3Y Avg | -5 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.2% |
| Rev Chg 3Y Avg | -4.6% |
| Rev Chg Q | 10.6% |
| QoQ Delta Rev Chg LTM | 2.6% |
| Op Inc Chg LTM | 37.1% |
| Op Inc Chg 3Y Avg | 16.9% |
| Op Mgn LTM | -15.3% |
| Op Mgn 3Y Avg | -13.7% |
| QoQ Delta Op Mgn LTM | 1.0% |
| CFO/Rev LTM | -0.8% |
| CFO/Rev 3Y Avg | -0.8% |
| FCF/Rev LTM | -4.6% |
| FCF/Rev 3Y Avg | -4.8% |
Price Behavior
| Market Price | $8.98 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 04/19/2021 | |
| Distance from 52W High | -70.7% | |
| 50 Days | 200 Days | |
| DMA Price | $10.39 | $6.02 |
| DMA Trend | up | down |
| Distance from DMA | -13.6% | 49.2% |
| 3M | 1YR | |
| Volatility | 108.6% | 183.5% |
| Downside Capture | 683.13 | 436.03 |
| Upside Capture | 327.81 | 434.83 |
| Correlation (SPY) | 59.6% | 31.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 4.05 | 6.38 | 6.17 | 4.76 | 4.44 | -0.34 |
| Up Beta | 3.39 | 8.28 | 9.60 | 6.57 | 4.78 | -1.98 |
| Down Beta | 7.35 | 5.19 | 3.39 | 1.97 | 3.41 | 0.26 |
| Up Capture | 377% | 759% | 567% | 924% | 4842% | 494% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 12 | 23 | 31 | 63 | 126 | 139 |
| Down Capture | 394% | 482% | 473% | 313% | 186% | 110% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 10 | 19 | 33 | 63 | 126 | 144 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VELO | |
|---|---|---|---|---|
| VELO | 76.8% | 183.2% | 1.13 | - |
| Sector ETF (XLK) | 39.2% | 26.5% | 1.21 | 31.3% |
| Equity (SPY) | 16.7% | 13.0% | 0.91 | 31.4% |
| Gold (GLD) | 3.4% | 29.6% | 0.11 | 13.5% |
| Commodities (DBC) | 45.0% | 20.9% | 1.67 | -4.1% |
| Real Estate (VNQ) | 2.8% | 13.7% | -0.05 | 11.8% |
| Bitcoin (BTCUSD) | -31.7% | 44.2% | -0.73 | 18.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VELO | |
|---|---|---|---|---|
| VELO | 9.0% | 181.2% | 1.04 | - |
| Sector ETF (XLK) | 22.4% | 25.9% | 0.76 | 31.1% |
| Equity (SPY) | 14.0% | 17.1% | 0.63 | 31.0% |
| Gold (GLD) | 18.2% | 18.9% | 0.78 | 12.9% |
| Commodities (DBC) | 10.3% | 19.6% | 0.40 | -3.3% |
| Real Estate (VNQ) | 1.3% | 18.8% | -0.04 | 8.6% |
| Bitcoin (BTCUSD) | 13.7% | 52.2% | 0.43 | 18.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VELO | |
|---|---|---|---|---|
| VELO | 4.4% | 181.2% | 1.04 | - |
| Sector ETF (XLK) | 24.8% | 25.0% | 0.90 | 31.1% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 31.0% |
| Gold (GLD) | 11.6% | 16.4% | 0.58 | 12.9% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | -3.3% |
| Real Estate (VNQ) | 4.2% | 20.7% | 0.16 | 8.6% |
| Bitcoin (BTCUSD) | 63.6% | 66.2% | 1.03 | 18.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 10/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/11/2026 | 10.3% | 6.9% | -23.7% |
| 5/12/2026 | 49.4% | 20.8% | 117.7% |
| 3/24/2026 | -21.4% | -30.5% | 24.0% |
| 11/10/2025 | 21.0% | -11.2% | 173.1% |
| SUMMARY STATS | |||
| # Positive | 3 | 2 | 3 |
| # Negative | 1 | 2 | 1 |
| Median Positive | 21.0% | 13.9% | 117.7% |
| Median Negative | -21.4% | -20.9% | -23.7% |
| Max Positive | 49.4% | 20.8% | 173.1% |
| Max Negative | -21.4% | -30.5% | -23.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/11/2026 | 10.3% | 6.9% | -23.7% |
| 5/12/2026 | 49.4% | 20.8% | 117.7% |
| 3/24/2026 | -21.4% | -30.5% | 24.0% |
| 11/10/2025 | 21.0% | -11.2% | 173.1% |
| SUMMARY STATS | |||
| # Positive | 3 | 2 | 3 |
| # Negative | 1 | 2 | 1 |
| Median Positive | 21.0% | 13.9% | 117.7% |
| Median Negative | -21.4% | -20.9% | -23.7% |
| Max Positive | 49.4% | 20.8% | 173.1% |
| Max Negative | -21.4% | -30.5% | -23.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/11/2026 | 10-Q |
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 01/14/2025 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 04/03/2024 | 10-K |
| 09/30/2023 | 11/20/2023 | 10-Q |
| 06/30/2023 | 08/15/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/20/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/11/2026 | 10-Q |
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 01/14/2025 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 04/03/2024 | 10-K |
| 09/30/2023 | 11/20/2023 | 10-Q |
| 06/30/2023 | 08/15/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/20/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/12/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
| 12/31/2021 | 03/28/2022 | 10-K |
| 09/30/2021 | 11/16/2021 | 10-Q |
Recent Forward Guidance
Updated 10/8/2026Latest: Q2 2026 Earnings Reported 8/11/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 65.00 Mil | 70.00 Mil | 75.00 Mil | 7.7% | Raised | Guidance: 65.00 Mil for 2026 | |
| 2026 Gross Profit | Calculated | 19.50 Mil | 21.00 Mil | 22.50 Mil | Rev x Gross Margin | |||
| 2026 Gross Margin | Reported | 30.0% | 0 | Affirmed | Guidance: 30.0% for 2026 | |||
| 2026 Non-GAAP Adjusted Operating Expenses | Reported | 45.00 Mil | 50.00 Mil | 55.00 Mil | 0 | Affirmed | Guidance: 50.00 Mil for 2026 | |
| 2026 Capital Expenditures | Reported | 40.00 Mil | 45.00 Mil | 50.00 Mil | 0 | Affirmed | Guidance: 45.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 5/12/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 60.00 Mil | 65.00 Mil | 70.00 Mil | 0 | Affirmed | Guidance: 65.00 Mil for 2026 | |
| 2026 Gross Profit | Calculated | 18.00 Mil | 19.50 Mil | 21.00 Mil | Rev x Gross Margin | |||
| 2026 Gross Margin | Reported | 30.0% | 0 | Affirmed | Guidance: 30.0% for 2026 | |||
| 2026 Non-GAAP adjusted operating expenses | Reported | 45.00 Mil | 50.00 Mil | 55.00 Mil | 0 | Affirmed | Guidance: 50.00 Mil for 2026 | |
| 2026 Capital Expenditures | Reported | 40.00 Mil | 45.00 Mil | 50.00 Mil | 0 | Affirmed | Guidance: 45.00 Mil for 2026 | |
Q4 2025 Earnings Reported 3/24/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 60.00 Mil | 65.00 Mil | 70.00 Mil | 18.2% | Higher New | Actual: 55.00 Mil for 2025 | |
| 2026 Gross Profit | Calculated | 18.00 Mil | 19.50 Mil | 21.00 Mil | Rev x Gross Margin | |||
| 2026 Gross Margin | Reported | 30.0% | 0.0% | Same New | Actual: 30.0% for Q4 2025 | |||
| 2026 Non-GAAP Adjusted Operating Expenses | Reported | 45.00 Mil | 50.00 Mil | 55.00 Mil | 11.1% | Higher New | Actual: 45.00 Mil for 2025 | |
| 2026 Capital Expenditures | Reported | 40.00 Mil | 45.00 Mil | 50.00 Mil | 157.1% | Higher New | Actual: 17.50 Mil for 2025 | |
Q3 2025 Earnings Reported 11/10/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | Reported | 50.00 Mil | 55.00 Mil | 60.00 Mil | 0 | Affirmed | Guidance: 55.00 Mil for 2025 | |
| 2025 Non-GAAP adjusted operating expenses | Reported | 40.00 Mil | 45.00 Mil | 50.00 Mil | 0 | Affirmed | Guidance: 45.00 Mil for 2025 | |
| 2025 CapEx | Reported | 15.00 Mil | 17.50 Mil | 20.00 Mil | 0 | Affirmed | Guidance: 17.50 Mil for 2025 | |
| Q4 2025 Gross Margin | Reported | 30.0% | 0 | Affirmed | Guidance: 30.0% for Q4 2025 | |||
Velo3D — Investor Video Playlist
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Technology Hardware, Storage & Peripherals Resources |
| The Verge |
| TechRadar |
| Tom’s Hardware |
| PCMag |
| CNET |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.