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Velo3D (VELO) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 11, 2026 · Velo3D (VELO) Q2 2026 earnings results →
Q2 2026 Revenue up 52% year over year to $20.7M · 56¢ of every $1 of revenue lost · operating margin -53.5%
Velo3D made $20.7M in Q2 2026 (+52% Y/Y): A3D Printer and Parts $19.0M, Support Services $1.5M, Other $202K. Operating margin -53.5%, net loss $11.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 11, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $20.7M in Q2 2026, up 52% year over year and up 50% from the previous quarter. A3D Printer and Parts was the largest line at 92% of revenue. A3D Printer and Parts added $6.9M year over year (up 57%), 97% of the total change.
Gross margin was 21.5%. Operating costs exceeded revenue by $11.1M, an operating margin of -53.5%. The fastest-growing cost line was Sales & marketing (+94%). The quarter ended with a net loss of $11.5M, wider than the previous quarter's $7.0M loss.
Operating cash flow was −$21.6M. Non-cash charges added back $712K of depreciation and amortization and $2.5M of share-based compensation. Working capital and other items used $13.3M. Capital expenditures of $3.5M exceeded it, leaving free cash flow of −$25.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 11, 2026 | $20.7M | +52% | -53.5% | −$11.5M | −$21.6M |
| Q1 2026 | 10-Q | May 14, 2026 | $13.8M | +48% | -50.3% | −$7.0M | −$18.0M |
| Q4 2025 | 10-K | Mar 31, 2026 | $9.4M | -25% | -231.0% | −$21.9M | −$7.7M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $13.6M | +65% | -77.9% | −$11.8M | −$6.0M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $13.6M | +31% | -85.4% | −$13.3M | −$1.2M |
| Q1 2025 | 10-Q | May 15, 2025 | $9.3M | -5% | -123.6% | −$25.0M | −$12.3M |
| Q4 2024 | 10-K | Mar 31, 2025 | $12.6M | +414% | -142.2% | −$18.1M | −$2.2M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Velo3D
We are a production-focused metal additive manufacturing technology company that develops and manufactures advanced metal additive manufacturing systems and provides production and engineering services that enable customers to manufacture high-value metal parts at scale. Additive manufacturing (“AM”), also referred to as three-dimensional printing (“3D printing”), has historically been used primarily for prototyping and limited production applications. We believe the industry is transitioning toward production-scale deployment, particularly in defense, aerospace, energy and other industrial markets where supply chain resilience, rapid innovation cycles and complex engineering requirements are critical.
In its own words, from its 10-K, filed Mar 31, 2026.
Velo3D against its Special Industry Machinery, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +52% against the peers' median +26%. Operating margin: -53.5% against the peers' median 9.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| VELO Velo3D | Q2 2026 | $20.7M | +52% | -53.5% |
| LRCX LAM Research | Q1 FY27 | $8.2B | +54% | 40.0% |
| ACMR ACM Research | Q3 2026 | $368M | +37% | 15.1% |
| ACLS Axcelis Technologies | Q3 2026 | $238M | +11% | 11.5% |
| VECO Veeco Instruments | Q3 2026 | $209M | +26% | 6.7% |
| CRCT Cricut | Q3 2026 | $189M | +11% | 18.0% |
| AZTA Azenta | Q3 FY26 | $161M | +12% | -2.6% |
| ASYS Amtech Systems | Q3 FY26 | $22.4M | +14% | 9.9% |
| TRT Trio-Tech International | Q4 FY26 | $14.9M | +40% | -1.8% |
Source: Velo3D 10-Q on SEC EDGAR · CIK 1825079 · Special Industry Machinery, NEC
13F: who owns VELO and who is buying
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results