Velo3D Q1 Revenue Climbs 12% to $18.4M; Backlog Hits $123M
Velo3D reported Q1 2026 revenue of $18.4 million, up 12% year-over-year, and narrowed its net loss to $10.4 million. Order backlog rose 25% to $123 million as management announced a strategic partnership with a leading aerospace OEM.
1. Q1 Financial Highlights
Velo3D posted first-quarter revenue of $18.4 million, a 12% increase from $16.4 million in Q1 2025, and reduced its net loss to $10.4 million versus $12.1 million. Gross margin expanded to 21.5% on higher machine and service mix.
2. Order Backlog and Bookings
New bookings reached $35 million in Q1, driving order backlog up 25% to $123 million. Growth was led by increased demand from aerospace and energy customers following recent product enhancements.
3. Strategic Partnership and Outlook
Velo3D secured a deal with a major aerospace OEM to deploy its Sapphire printers across critical supply chains, aiming to accelerate adoption of its metal additive solutions. Management declined to issue updated guidance but expressed confidence in continued margin improvement throughout 2026.