Key Highlights
- Velo3D delivered Q2 2026 revenue of $20.7 million, representing a 52.3% increase from the previous year and substantially exceeding analyst projections of $13.52 million by more than half
- The company’s gross margin reversed course dramatically, reaching 21.5% compared to a negative 11.7% during the same quarter last year
- Order backlog approached double year-over-year growth, reaching $31 million by the end of June 2026
- The company increased its full-year 2026 revenue forecast to a range of $65 million-$75 million from the previous $60 million-$70 million range
- According to CEO Arun Jaldi, the organization is transitioning into a “growth phase” following an 18-month period of stabilization efforts
Shares of Velo3D (VELO) surged more than 17% during Wednesday’s pre-market session following the metal additive manufacturing specialist’s surprisingly robust second-quarter performance that significantly exceeded Wall Street’s expectations.
The equity had already experienced a 19.28% spike in after-hours trading Tuesday, having finished the standard trading day at $13.69 before the quarterly results triggered the rally.
Second quarter 2026 revenue totaled $20.7 million, marking a 52.3% climb from the prior year and a sequential increase of 50%. The figure substantially surpassed the analyst consensus projection of $13.52 million by over 52%.
The company reported a loss per share of -$0.30, slightly worse than the anticipated -$0.27 by approximately 11%. However, market participants appeared willing to overlook this single metric shortfall.
The gross margin narrative proved most compelling. The metric surged to 21.5%, representing a remarkable reversal from the negative 11.7% recorded in Q2 2025. This transformation resulted from elevated average selling prices and robust performance in Rapid Production Services revenue.
Order Book and Production Capabilities
The order backlog approached a doubling compared to the previous year, standing at $31 million as of June 30. The company’s cash position strengthened to $91.1 million, while outstanding debt decreased by more than 70% to $8.2 million.
During the earnings conference call, CEO Arun Jaldi revealed that customer demand is exceeding current production capabilities. “We absolutely need 100 machines as of today to actually run all the programs on the demand we have,” he stated.
To tackle this capacity constraint, Velo3D announced plans for a new Livermore Production Campus. The new facility is projected to increase manufacturing capacity threefold, targeting 100 production machines by mid-2028.
Jaldi offered candid commentary about the company’s current position. “The last one and a half year for Velo3D is just purely the stability of the company,” he explained. “Now we are beyond that point. Now it’s a growth phase.”
He characterized the preceding 18 months as challenging yet essential. “It’s been an 18-month really hard journey, and turning around a company is not easy. We have faced a lot of ups and downs, and I think we’re in a position to thrive now.”
Forward Outlook Enhanced
Velo3D elevated its full-year 2026 revenue projection to $65 million-$75 million, an increase from the earlier guidance of $60 million-$70 million.
The organization also reaffirmed its projection of achieving positive adjusted EBITDA during the latter half of 2026.
Customer demand originates from defense, aerospace, and energy sectors. Velo3D’s advanced metal 3D-printing technologies serve clients including SpaceX.
The Nasdaq advanced 0.7% while the S&P 500 increased 0.2% during the session, gains far too modest to account for VELO’s pre-market surge. This movement is clearly driven by company-specific fundamentals.
Velo3D’s 52-week trading range extends from a low of $2.81 to a peak of $31.75. The company presently maintains a market capitalization of roughly $408 million.
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