Velo3D posts $13.6M Q3 revenue, highlights defence contracts
Velo3D, Inc, headquartered in Fremont, California, USA, has announced financial results for its third quarter ending September 30, 2025. The quarter’s GAAP revenue was $13.6 million at a gross GAAP margin of 3.2%.
“Our third-quarter results reflect the progress we are making in strengthening our operational efficiency and positioning the Company for sustained growth and profitability,” stated Arun Jeldi, CEO.
Operating expenses for the third quarter were $11.1 million ($22.9 million Q3 2024). Non-GAAP adjusted operating expenses, excluding stock-based compensation expense of $2.0 million, were $9.0 million, down from $19.7 million year over year.
GAAP net loss for the third quarter was ($11.8) million compared to ($23.1) million in the third quarter of 2024. Non-GAAP net loss was ($9.2) million in the three months ended September 30, 2025. Adjusted EBITDA for the quarter was ($7.3) million compared to ($9.7) million in Q3 2024.
As of September 30, 2025, Velo3D had a reported $11.8 million of cash and cash equivalents compared to $1.2 million as of December 31, 2024.
In Q3, Velo3D’s common stock was uplisted to Nasdaq. It completed a public offering of 5,833,333 shares of its common stock at $3.00 per share for aggregate gross proceeds of approximately $17.5 million.
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Rapid Production Services
Velo3D anticipates that, while machine sales are expected to remain the primary driver of revenue in 2025, the company anticipates that its Rapid Production Services (RPS) business will contribute an increasing share of revenue under the new go-to-market strategy.
The company noted the continuing momentum of its RPS, with a backlog increase over 22% from the previous quarter. Of its Q3 bookings, 48% were from the space and defence sector. New customers represented over 9% of its total quarterly bookings. The RPS Quality Management System also achieved AS9100D certification in this quarter.
“We are encouraged by the commercial market response to our Rapid Production Services, which is leading to repeat customer orders, new customer signings and strategic agreements across aerospace and defence,” Jeldi stated. “Recent partnerships ….strengthen our backlog and support the delivery of high-value, cost-effective production capabilities. Through disciplined cost management and targeted investments, we are improving margins and moving toward positive EBITDA in the first half of 2026 while scaling our technology for long-term growth.
Partnerships
In support of the US Navy Maritime Industrial Base Program’s efforts to accelerate ship repair, Velo3D signed $6 million in sales and service agreements focused on developing and qualifying copper nickel alloy (CuNi) for use in its line of Sapphire Additive Manufacturing machines. The company also signed an agreement with Linde to supply domestically produced CuNi (70-30 copper-nickel) powder.
Q3 saw Velo3D announce participation in a US Army Combat Capabilities Development Command Aviation & Missile Center (DEVCOM AvMC) and Manufacturing & Sustainment (M&S) programme funded initiative focused on advancing high-throughput, cost-effective Additive Manufacturing processes for aluminium CP1 to support defence applications.
Velo3D also introduced the integration of Dyndrite’s LPBF Pro software with the its Sapphire and Sapphire XC Additive Manufacturing machines and expanded its partnership with Innovative Rocket Technologies.
