Velo3D Announces Bookings Totaling $27M Since Mid-December, Backlog Now Totals $23M
Portfolio Pulse from Benzinga Newsdesk
Velo3D, Inc. (VLD) announced receiving orders totaling $27M since mid-December 2023, including a significant purchase by Mears Machine for 2 Sapphire XC systems for defense and aerospace parts. The company's backlog reached $23M, with deliveries starting Q2 2024. Preliminary Q1 2024 estimates include revenue of $6-$11M, gross margin of (25)-10%, and operating expenses of $13-$18M. These results reflect strong customer confidence and a successful market strategy, particularly in the defense and space sectors.
April 04, 2024 | 12:32 pm
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Velo3D announced significant orders totaling $27M, with a notable acquisition by Mears Machine. Preliminary Q1 2024 financial estimates were also provided, showing potential revenue growth and a focus on improving gross margin.
The announcement of significant new orders, especially from sectors like defense and aerospace, indicates strong market demand and customer confidence in Velo3D's technology. The preliminary financial estimates for Q1 2024, despite showing a wide range in revenue and gross margin, reflect the company's positive outlook and commitment to improving profitability. These factors are likely to positively influence investor sentiment and potentially the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100