Velo3D's Third CFO in a Year Exits After Six Months

Velo3D (Nasdaq: VELO) is a Fremont, California-based metal additive manufacturing company whose Sapphire-series printers and Rapid Production Solutions service supply aerospace, defense, and space customers with mission-critical parts. Revenue rose to $46 million in full-year 2025, and management is targeting $65 million to $75 million in 2026, with positive EBITDA expected in the second half of that year.

The company remains deeply loss-making despite its revenue trajectory. GAAP net loss was $71.4 million in 2025 and $18.5 million in the first half of 2026, with cash consumed in operations of approximately $39.5 million over that six-month period. To fund growth — including a planned Livermore Production Campus that management says would triple manufacturing capacity — Velo3D raised more than $109 million in equity during the first half of 2026 through a $50 million underwritten offering and roughly $59.4 million through an at-the-market program. Accumulated deficit reached $516.7 million as of June 30, 2026.

The financial improvement has been real but fragile. Gross margin turned positive in Q1 2026 for the first time in years, and second-quarter revenue of $20.7 million represented 52% year-over-year growth. Capital expenditures of $40 million to $50 million are planned for 2026, primarily for the Rapid Production Solutions expansion, conditional on the availability of sufficient financing.