Velo3D Q1 revenue $9.8M, net loss $28.3M; sees >30% sequential revenue growth in Q2

Velo3D, Inc.

2024-Q1 EPS reported -$0.11 revenue$9,786,000

GAAP revenue $9.8M vs $26.7M YoY; GAAP net loss $28.3M ($0.11 loss per share); non-GAAP net loss $20.2M ($0.08 loss per share).
Q1 bookings of $17M; $22M backlog exiting Q1; 50% of orders from existing customers; added 3 new defense customers.
Operating expenses down 30% YoY; aiming for cash flow breakeven in H2 2024; expects >30% sequential revenue growth in Q2.
Strategic review process to maximize shareholder value remains ongoing; cash and investments $11M at quarter end.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Velo3D, Inc. reported financial results for first quarter ended March 31, 2024.

Period: first quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On May 15, 2024, Velo3D, Inc. (“Velo3D, Inc” or the “Company”) issued a press release announcing its financial results for the three months ended March 31, 2024 (the "Press Release").

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Source: SEC EDGAR

accession 0001825079-24-000019

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