Velo3D reports Q3 revenue $24M (+26% YoY), cuts FY2023 guidance to $91-103M, workforce >20%

Velo3D, Inc.

2023-Q3 EPS reported -$0.40 revenue$75,756,000

Q3 revenue $24.1M, up 26% YoY; GAAP net loss $17.1M ($0.09/diluted share), non-GAAP net loss $18.9M.
FY2023 revenue guidance lowered to $91-103M, citing order delays and realignment impact.
Completed >20% workforce reduction in Oct 2023; expects >15% quarterly opex savings from Q1 2024.
Cash and investments $72M at quarter end, up from $47M Q2; free cash flow improved 30% sequentially.
Strategic realignment pivots from top-line growth to free cash flow, targeting profitability in FY2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Velo3D, Inc. updated its three and nine months ended September 30, 2023 guidance (reaffirmed).

Period: three and nine months ended September 30, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On November 6, 2023, Velo3D, Inc. (“Velo3D, Inc” or the “Company”) issued a press release announcing its financial results for the three and nine months ended September 30, 2023 (the "Press Release").

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Source: SEC EDGAR

accession 0001825079-23-000041

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