Velo3D Revenue Jumps 52% as Metal Printer Demand Grows

Velo3D turned in a strong second quarter and raised its 2026 forecast. The metal 3D printing company posted $20.7 million in revenue for the three months ended June 30, up 52.3% from $13.6 million a year earlier. That marks a real inflection point for a business that has spent recent quarters fighting to prove its model works.

The company also swung to a positive gross margin of 21.5%, compared with negative 11.7% in the same quarter last year. Printer and parts revenue drove most of the growth, climbing 57% to $19 million. Velo3D credited higher average selling prices, a richer product mix, and stronger sales from its Rapid Production Solutions parts business.

The cash position looks healthier too. Velo3D ended June with $91.1 million in cash and equivalents, up from $39 million at the end of 2025. The company raised most of that through stock offerings and debt conversions, cutting total debt by more than 70% to $8.2 million. New orders reached $29 million in the quarter, and the company entered July with a $31 million backlog.

Management expects system sales to remain the main revenue driver this year, but sees parts production taking a larger role under its new go-to-market strategy. Velo3D now forecasts full-year revenue between $65 million and $75 million, up from its previous $60 million to $70 million range. The company still loses money, but the losses are narrowing. Adjusted net loss improved to $9 million from $11.4 million a year ago. Operating expenses rose to $15.5 million from $10 million as Velo3D invests in capacity and hiring.

A new production campus in Livermore, California should come online later this year and triple manufacturing capacity. That expansion supports the RPS business, which prints parts directly for customers instead of selling machines. Mears Machine Corporation ordered its fifth Sapphire XC system, and a new partnership with Aurelia Technologies will target metal AM for gas turbine systems.

Velo3D is still targeting positive adjusted EBITDA in the second half of 2026. The stock has its believers and skeptics, but this quarter gives the bulls something solid to point at: the machine is finally starting to run right.