VLD · Velo3d, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $45.97M | $41.00M | $77.44M | $80.76M | $18.98M | - |
| Cost of Revenue | $53.38M | $43.09M | $103.71M | $77.86M | $12.61M | - |
| Gross Profit | ($7.40M) | ($2.08M) | ($26.27M) | $2.89M | $6.37M | - |
| R&D | $10.65M | $17.11M | $42.03M | $46.27M | $14.19M | - |
| SG&A | $30.10M | $49.35M | $41.73M | $36.98M | $6.38M | - |
| Total Operating Expenses | $47.52M | $80.26M | $106.99M | $107.16M | $27.57M | - |
| D&A | $3.38M | $4.91M | $9.31M | $5.29M | $1.24M | - |
| Operating Income | ($54.92M) | ($82.35M) | ($133.25M) | ($104.26M) | ($21.21M) | - |
| Interest Expense | $15.97M | $15.97M | $9.72M | $372.0K | $639.0K | - |
| Income Tax | $117.0K | ($20.0K) | $0 | $0 | $0 | - |
| Net Income | ($71.36M) | ($73.30M) | ($135.14M) | $10.02M | ($21.81M) | - |
| EPS - Basic | ($4.33) | ($5.77) | ($0.68) | $0.05 | ($0.56) | - |
| EPS - Diluted | ($4.33) | ($5.77) | ($0.68) | $0.05 | ($0.56) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $39.01M | $1.21M | $24.49M | $31.98M | $207.60M | $1.67M |
| Accounts Receivable | $6.26M | $3.72M | $9.58M | $9.19M | $12.78M | - |
| Inventory | $27.08M | $49.95M | $60.82M | $71.20M | $22.48M | - |
| Accounts Payable | $10.30M | $18.54M | $15.85M | $12.21M | $9.88M | - |
| Current Assets | $80.12M | $57.72M | $118.14M | $172.92M | $268.07M | $2.39M |
| Total Assets | $105.35M | $89.18M | $153.80M | $225.11M | $302.72M | $347.39M |
| Current Liabilities | $33.80M | $38.00M | $48.67M | $46.05M | $46.66M | $704.6K |
| Long-term Debt | $31.02M | $5.99M | $44.00M | $8.36M | - | - |
| Total Liabilities | $67.19M | $49.52M | $85.46M | $84.27M | $192.30M | $55.83M |
| Stockholders' Equity | $38.16M | $39.66M | $68.34M | $140.85M | $110.42M | $5.00M |
| Retained Earnings | ($498.14M) | ($430.33M) | ($357.04M) | ($219.85M) | ($229.87M) | ($1.59M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($27.33M) | ($32.68M) | ($105.64M) | ($123.96M) | ($26.45M) | - |
| Investing Cash Flow | ($2.71M) | $7.77M | $38.89M | ($53.02M) | ($3.43M) | - |
| Financing Cash Flow | $67.83M | $1.46M | $59.26M | $1.34M | $35.58M | - |
| CapEx | $2.71M | $9.0K | $1.05M | $13.82M | $401.0K | - |
| Free Cash Flow | ($30.04M) | ($32.69M) | ($106.68M) | ($137.78M) | ($26.85M) | - |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | -16.1% | -5.1% | -33.9% | 3.6% | 33.6% | - |
| Operating margin | -119.5% | -200.8% | -172.1% | -129.1% | -111.8% | - |
| EBITDA margin | -112.1% | -188.9% | -160.0% | -122.6% | -105.2% | - |
| Net margin | -155.2% | -178.8% | -174.5% | 12.4% | -114.9% | - |
| Free cash flow margin | -65.3% | -79.7% | -137.8% | -170.6% | -141.5% | - |
| FCF / Net income | 0.42 | 0.45 | 0.79 | -13.75 | 1.23 | - |
| R&D / Revenue | 23.2% | 41.7% | 54.3% | 57.3% | 74.8% | - |
| SG&A / Revenue | 65.5% | 120.3% | 53.9% | 45.8% | 33.6% | - |
| Effective tax rate | - | - | - | 0.0% | - | - |
| Return on assets | -67.7% | -82.2% | -87.9% | 4.5% | -7.2% | - |
| Return on equity | -187.0% | -184.8% | -197.7% | 7.1% | -19.8% | - |
| Return on invested capital | -62.7% | -142.5% | -93.7% | -69.9% | - | - |
| Liquidity | ||||||
| Current ratio | 2.37 | 1.52 | 2.43 | 3.75 | 5.75 | 3.40 |
| Quick ratio | 1.57 | 0.20 | 1.18 | 2.21 | 5.26 | 3.40 |
| Cash ratio | 1.15 | 0.03 | 0.50 | 0.69 | 4.45 | 2.37 |
| Leverage | ||||||
| Debt / Equity | 0.81 | 0.15 | 0.64 | 0.06 | - | - |
| Debt / Assets | 0.29 | 0.07 | 0.29 | 0.04 | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -3.4x | -5.2x | -13.7x | -280.3x | -33.2x | - |
| Equity multiplier | 2.76 | 2.25 | 2.25 | 1.60 | 2.74 | 69.48 |
| Liabilities / Assets | 0.64 | 0.56 | 0.56 | 0.37 | 0.64 | 0.16 |
| Efficiency | ||||||
| Asset turnover | 0.44 | 0.46 | 0.50 | 0.36 | 0.06 | - |
| Inventory turnover | 1.97 | 0.86 | 1.71 | 1.09 | 0.56 | - |
| Days sales outstanding | 50d | 33d | 45d | 42d | 246d | - |
| Days inventory outstanding | 185d | 423d | 214d | 334d | 651d | - |
| Days payable outstanding | 70d | 157d | 56d | 57d | 286d | - |
| Cash conversion cycle | 164d | 299d | 203d | 318d | 610d | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 12.1% | -47.1% | -4.1% | 325.6% | - | - |
| Revenue CAGR (3y) | -17.1% | 29.3% | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - |
| Gross profit growth (YoY) | -255.1% | 92.1% | - | -54.5% | - | - |
| Operating income growth (YoY) | 33.3% | 38.2% | -27.8% | -391.6% | - | - |
| Net income growth (YoY) | 2.6% | 45.8% | - | - | - | - |
| EPS growth (YoY) | 25.0% | -748.5% | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 8.1% | 69.4% | 22.6% | -413.2% | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -3.8% | -42.0% | -51.5% | 27.6% | 2108.3% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$45.97M totalA3 DPrinter And Parts$39.18M · 85.2%
Support Services$6.20M · 13.5%
Other$524.0K · 1.1%
Recurring Payment$70.0K · 0.2%
Geographic
$45.97M totalAmericas$39.90M · 86.8%
Europe$4.49M · 9.8%
Other Locations$1.58M · 3.4%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-4.64
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
3/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Special Industry Machinery, NEC
Comparing Velo3D against the 5 most active filers in the same SIC group.