Velo3D Inc. (NASDAQ:VELO) shares jumped 19.28% to $16.33 in after-hours trading on Tuesday after CEO Arun Jaldi said the metal additive manufacturing company is exiting its stabilization period and entering a “growth phase,” as second-quarter revenue rose 52.3% year-over-year, beating analyst estimates.
CEO Says Company Has Turned a Corner
Speaking during Velo3D’s second-quarter earnings call on Tuesday, CEO Jaldi described the past 18 months as a period of stabilizing the company.
“The last one and a half year for Velo3D is just purely the stability of the company,” Jaldi said. “Now we are beyond that point. Now it’s a growth phase.”
He added that the growth phase represents “higher margins, operational efficiencies that you can do with the funds available to the company,” noting that “the financial struggles in the last year didn’t help us to really do what we want.”
Jaldi also pointed to the scale of unmet demand across Velo3D’s end markets. “We absolutely need 100 machines as of today to actually run all the programs on the demand we have,” he said, adding that the company expects to have half that capacity in place by next year.
Closing the call, Jaldi reflected on the turnaround effort. “It’s been an 18-month really hard journey, and turning around a company is not easy,” he said. “We have faced a lot of ups and downs, and I think we’re in a position to thrive now.”
Revenue and Margins Beat Expectations
Velo3D, whose metal 3D-printing systems are used by aerospace and defense customers including Space Exploration Technologies Corp. (NASDAQ:SPCX), reported the second-quarter results on Tuesday for the period ended Jun. 30.
The company posted revenue of $20.7 million for the quarter, up 52.3% from a year earlier and 50% sequentially. This revenue beat the analyst estimate of $13.52 million by 52.8%, according to Benzinga Pro.
Earnings per share for Velo3D came in at $-0.30 against an estimated $-0.27, missing by 11.1%.
Gross margin increased to 21.5% from negative 11.7% a year earlier, driven by higher average selling prices and stronger revenue from Rapid Production Services. Backlog nearly doubled to $31 million. Cash increased to $91.1 million, while debt fell more than 70% to $8.2 million.
Guidance Raised
Velo3D also raised its full-year 2026 revenue guidance to a range of $65 million to $75 million, up from its prior outlook of $60 million to $70 million. The company said it continues to expect positive adjusted EBITDA in the second half of 2026.
The company has a market capitalization of approximately $407.98 million. Its stock has traded between a 52-week high of $31.75 and a 52-week low of $2.81.
Price Action: VELO closed Tuesday’s regular session at $13.69, up 5.71%, according to Benzinga Pro data.
Benzinga’s Edge Stock Rankings show that VELO is in a long-term upward trend, while its medium- and short-term movements are consolidating.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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