Velo3D Disclosed Key Strategic Priorities For Growth In 2024, Securing $12M In New Order Bookings Since Mid-December FY23
Portfolio Pulse from Benzinga Newsdesk
Velo3D, identified by its ticker symbol VLD, has announced strategic priorities aimed at growth in 2024. The company has secured $12 million in new order bookings since mid-December of fiscal year 2023. VLD is also on track to reduce its operational expenses by 40% by the end of the first quarter of 2024 and is committed to becoming cash flow positive in the second half of the year.
January 25, 2024 | 10:32 am
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POSITIVE IMPACT
Velo3D has secured significant new orders and is implementing cost reduction strategies to improve financial health, aiming for cash flow positivity in the latter half of 2024.
The announcement of $12 million in new order bookings indicates strong demand for Velo3D's products, which is a positive sign for revenue growth. The commitment to reduce operational expenses significantly by the end of Q1 2024 suggests improved margins and operational efficiency. The goal to become cash flow positive in the second half of the year is a critical financial milestone that can lead to a more sustainable business model. These factors combined are likely to be viewed positively by investors and could lead to a short-term increase in the stock price.
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IMPORTANCE 90
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