secwatch.observer — SEC 8-K summary
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Issuer:     Velo3D, Inc. (VELO)
CIK:        0001825079
Form:       8-K
Filed at:   2023-08-10T23:59:59+00:00
Accession:  0001825079-23-000027
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1825079/000182507923000027/0001825079-23-000027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1825079/000182507923000027/vld-20230810.htm
  HTML page:      https://secwatch.observer/filing/0001825079-23-000027

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