Velo3D targets growth from Rapid Production Services in second half 2025
Velo3D, Fremont, California, USA, has released its second quarter 2025 results, reporting revenue of $13.6 million. Its machine revenue increased year-on-year, driven by product mix and the number of machines sold. The gross margin for the quarter was (11.7%) versus (28.0%) Q2 2024.
“Our second quarter results reflect solid topline performance,” stated Arun Jeldi, CEO. “More importantly, the composition of our backlog made a significant shift toward RPS [Rapid Production Services] driven by strong demand from the space and defence sectors.”
While the company anticipates that machine sales will remain the primary revenue source, it anticipates its RPS business will contribute an increasing share of revenue beginning in H2. Bookings for the company’s RPS increased 79% sequentially, with new customers accounting for over 78% of these. Some 54% of the total bookings were from customers in the space sector and 33% from defence.
Total operating expenses for the second quarter were $10.5 million compared to $17.6 million in the second quarter of 2024. Non-GAAP operating expenses, excluding stock-based compensation expense of $2.4 million, were $8.1 million, down from $13.4 million in the second quarter of 2024.
GAAP net loss for the second quarter was -$13.8 million compared to -$172,000 in the second quarter of 2024. Non-GAAP net loss was -$11.3 million in the three months ended June 30, 2025. Adjusted EBITDA for the quarter was -$8.9 million.
As of June 30, 2025, the company had $854,000 of cash and cash equivalents compared to $1.2 million as of December 31, 2024.
“This quarter marked a pivotal period of strategic advancement for our business,” Jeldi continued. “We are proud to have signed a Cooperative Research and Development Agreement with two NAVAIR federal laboratories, which positions us at the forefront of innovation in Additive Manufacturing for aerospace and defence. Additionally, our new $4 million Master Services Agreement with Vaya Space underscores the growing demand for our high-performance production capabilities. We also deepened our collaboration with Amaero, bolstered by a key powder qualification milestone achieved by Auburn University’s National Center for Additive Manufacturing Excellence. These milestones reflect our continued momentum and commitment to advancing next-generation manufacturing solutions across critical sectors.”
He concluded, “Momentum is building as several of our strategic initiatives begin to take hold. We remain focused on operational discipline and initial indications point to improved performance across the business. Looking ahead, we expect to build on this progress quarter by quarter as we continue advancing our position in the Additive Manufacturing industry.”
www.velo3d.com
