Shares of Velo3D, Inc. (NASDAQ:VELO) are rising Tuesday after the metal 3D printing company reported third-quarter earnings results.
- VELO stock is racing ahead of the pack. See what is driving the move here.
What To Know: Velo3D reported quarterly sales of $13.64 million, which slightly beat the analyst consensus estimate of $13.60 million. The additive manufacturing company also reported quarterly losses of 54 cents per share, which narrowly missed the analyst consensus estimate for losses 52 cents per share.
Velo3D shares were up more than 19% at last check, according to Benzinga Pro.
While system sales are expected to remain the primary driver of revenue this year, Velo3D anticipates that its Rapid Production Solutions parts production segment will contribute an increasing share of revenue under its new go-to-market strategy.
Velo3D said it recently established partnerships with the U.S. Navy, the U.S. Army and Linde AMT, an Indiana-based materials company. 48% of its RPS bookings this quarter came from the space and defense sector.
Looking ahead, Velo3D anticipates full-year revenue between $50 million to $60 million and non-GAAP adjusted operating expenses between $40 million and $50 million. The company expects full-year capital expenditures to fall in the range of $15 million to $20 million. Velo3D also guided for positive EBITDA in the first half of 2026.
“We are encouraged by the commercial market response to our Rapid Production Services (RPS), which is leading to repeat customer orders, new customer signings and strategic agreements across aerospace and defense,” said Arun Jeldi, CEO of Velo3D. “Recent partnerships, including the U.S. Navy Maritime Industrial Base Program, the U.S. Army DEVCOM AvMC initiative and Linde AMT, strengthen our backlog and support the delivery of high-value, cost-effective production capabilities.”
VELO Analysis: Velo3D is trading approximately 29.4% above its 50-day moving average of $4.37, indicating a bullish trend in the short term. The relative strength index (RSI) stands at 49.17, suggesting that the stock is in a neutral position, neither overbought nor oversold, which could imply room for further upward movement if buying pressure continues.
With support established at $4.91, this level may serve as a critical point for traders looking for potential pullbacks. The absence of a defined resistance level suggests that the stock could face upward momentum towards the 52-week high of $8.28, particularly if the current buying trend persists.
VELO Price Action: Velo3D shares were up 19.8% at $5.87 at the time of publication on Tuesday. The stock is trading within its 52-week range of $2.81 to $8.28, according to Benzinga Pro.
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