Velo3D Sees Q4 Revenue $15M-$27M Vs $29.69M Est.; FY23 Revenue $91M-$103M Vs $108.62M Est.
Portfolio Pulse from Benzinga Newsdesk
Velo3D has revised its Q4 and FY23 revenue guidance downwards due to the impact of its realignment strategy and delays in Q4 bookings. The company now expects Q4 revenue to be between $15M-$27M, down from the estimated $29.69M, and FY23 revenue to be between $91M-$103M, down from the estimated $108.62M. The company believes its realignment strategy will help it achieve profitability goals in 2024.
November 06, 2023 | 10:21 pm
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Velo3D has lowered its Q4 and FY23 revenue guidance, which could negatively impact investor sentiment and potentially lead to a short-term decrease in its stock price.
Companies often see their stock prices decrease when they lower their revenue guidance, as this can signal potential issues with their business performance. In this case, Velo3D's realignment strategy and Q4 booking delays have led to a decrease in expected revenue, which could negatively impact investor sentiment and lead to a short-term decrease in its stock price.
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