secwatch.observer — SEC 8-K summary
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Issuer:     Velo3D, Inc. (VELO)
CIK:        0001825079
Form:       8-K
Filed at:   2023-05-01T23:59:59+00:00
Accession:  0001825079-23-000018
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Velo3D reports Q1 revenue $27M (+120% YoY); gross margin expands to 11% from 6%
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- GAAP revenue $26.8M (+120% YoY); GAAP gross margin 10.9% vs 5.9% in Q4 2022.
- Bookings $20M (+30% sequentially); backlog $24M; 75% of Q2 revenue already booked/recurring.
- GAAP net loss $36.2M ($0.19 loss per share); non-GAAP net loss $17.8M ($0.09 per share).
- Cash and investments $64M; net cash flow improved from ($33)M to ($16)M.
- Reaffirmed 2023 guidance of >50% revenue growth; targeting 20% YoY reduction in Q4 non-GAAP opex.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1825079/000182507923000018/0001825079-23-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1825079/000182507923000018/vld-20230501.htm
  HTML page:      https://secwatch.observer/filing/0001825079-23-000018

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer