Velo3D (VELO) stock jumped over 17% in pre-market trading on Wednesday after the metal additive manufacturing company posted a strong second quarter that caught Wall Street off guard.
The stock had already gained 19.28% in after-hours trading on Tuesday, closing the regular session at $13.69 before the results lit the fuse.
Q2 2026 revenue came in at $20.7 million, a 52.3% year-over-year increase and a 50% sequential jump. That blew past the analyst consensus of $13.52 million by more than 52%.
VELO3D $VELO Q2’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $20.7M (Est. $13.5M) 🟢; +52.3% YoY
🔹 Adj. EPS: -$0.30 (Est. -$0.31) 🟢Raises FY26 Guide:
🔹 Revenue: $65M-$75M (Est. $64.2M) 🟢; from $60M-$70M
🔹 CapEx: $40M-$50M (Est. $45.6M) 🟡
🔹 Non-GAAP Adjusted OpEx: $45M-$55M
🔹…— Wall St Engine (@wallstengine) August 11, 2026
Earnings per share came in at -$0.30, missing the estimate of -$0.27 by about 11%. But investors looked past that one miss.
Gross margin was the real story. It climbed to 21.5%, a dramatic turnaround from negative 11.7% in Q2 2025. That swing was driven by higher average selling prices and stronger revenue from Rapid Production Services.
Backlog nearly doubled year-over-year to $31 million as of June 30. Cash on the balance sheet rose to $91.1 million, while debt fell more than 70% to $8.2 million.
CEO Arun Jaldi said during the earnings call that demand is outpacing what the company can currently produce. “We absolutely need 100 machines as of today to actually run all the programs on the demand we have,” he said.
To address that, Velo3D unveiled plans for a new Livermore Production Campus. The facility is expected to triple manufacturing capacity, with a target of 100 production machines by mid-2028.
Jaldi was direct about where the company stands now. “The last one and a half year for Velo3D is just purely the stability of the company,” he said. “Now we are beyond that point. Now it’s a growth phase.”
He described the last 18 months as a difficult but necessary period. “It’s been an 18-month really hard journey, and turning around a company is not easy. We have faced a lot of ups and downs, and I think we’re in a position to thrive now.”
Velo3D raised its full-year 2026 revenue guidance to $65 million-$75 million, up from the prior range of $60 million-$70 million.
The company also maintained its expectation of reaching positive adjusted EBITDA in the second half of 2026.
Demand is coming from defense, space, and energy end markets. Velo3D’s metal 3D-printing systems are used by customers including SpaceX.
The Nasdaq rose 0.7% and the S&P 500 gained 0.2% on the day, far too small to explain VELO’s pre-market move. This one is all about the fundamentals.
Velo3D’s 52-week range runs from a low of $2.81 to a high of $31.75. The company currently carries a market cap of approximately $408 million.
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