Velo3D Q2 rev $25.1M (+28% YoY), net loss $23.2M; cuts FY23 guidance to $105-115M; $70M debt offering

Velo3D, Inc.

2023-Q2 EPS reported -$0.31 revenue$51,948,000

Q2 revenue $25.1M, up 28% YoY; GAAP net loss $23.2M ($0.12 loss per share) vs net income $128M in Q2 2022.
Non-GAAP net loss $19.3M ($0.10 loss per share); gross margin 11.9% vs 6.3% YoY.
Updated FY2023 revenue guidance to $105M-$115M (down from prior expectations due to order delays).
Ended Q2 with $47M cash; announced $70M senior secured convertible notes offering to strengthen liquidity.
Record new customer orders, with 90% of Q2 bookings from new customers; manufacturing cycle times improving for Sapphire XC.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Velo3D, Inc. reported the three and six months ended June 30, 2023 results: revenue $25.1. Guidance reaffirmed.

Period: the three and six months ended June 30, 2023
Revenue: $25.1
Guidance: reaffirmed
Result: reported results

Exact text from the filing

the critical, high value metal parts they need.” ($ in Millions, except percentages and per-share data) 2 nd Quarter 2023 1 st Quarter 2023 2 nd Quarter 2022 GAAP revenue $25.1 $26.8 $19.6 GAAP gross margin 11.9% 10.9% 6.3% GAAP net income (loss) 1 ($23.2) ($36.2) $128.0 GAAP net income (loss) per diluted share ($0.12) ($0.19) $0.63 Non-GAAP net loss 2

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Source: SEC EDGAR

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