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Velo3D cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$25.1M in Q2 2026 · −$58.7M over twelve months

Operating cash flow−$21.6M
Capital spending−$3.5M
Free cash flow−$25.1M
Cash conversion cycle149 days

Analysis

In Q2 2026, Velo3D generated −$21.6M of operating cash flow and spent $3.5M on capital projects, leaving free cash flow of −$25.1M. That is $22.1M less than in Q2 2025 (−$3.0M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$53.3M; the largest uses were operating cash flow ($53.3M), capital spending ($5.4M); besides operations, cash came from other financing ($152M); the cash balance rose by $93.6M.

Operating cash flow was −$21.6M against net income of −$11.5M. The largest differences: contract assets −$8.0M, prepaid and other assets −$7.2M, inventory +$3.8M.

Its cash conversion cycle was 149 days (receivables 33 + inventory 156 − payables 40).

Free cash flow

Velo3D: free cash flow by quarterVelo3D: free cash flow by quarter−$2.0MQ3 2024−$2.2MQ4 2024−$12.3MQ1 2025−$3.0MQ2 2025−$6.3MQ3 2025−$8.3MQ4 2025−$18.9MQ1 2026−$25.1MQ2 2026
Operating cash flow less capital spending.
Velo3D: operating cash flow against capital spendingVelo3D: operating cash flow against capital spendingOperating cash flowCapital spending−$2.0M$20KQ3 2024−$2.2M−$19KQ4 2024−$12.3M$0Q1 2025−$1.2M$1.8MQ2 2025−$6.0M$313KQ3 2025−$7.7M$603KQ4 2025−$18.0M$940KQ1 2026−$21.6M$3.5MQ2 2026
Latest (Q2 2026): Operating cash flow −$21.6M, Capital spending $3.5M.

Capital allocation, year by year

Velo3D: where the cash came from (up) and went (down), by fiscal yearVelo3D: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow −$56.4MFY2021: Net borrowing −$2.9MFY2021: Shares issued $385KFY2021: Capital spending −$9.6M$385KFY2021FY2022: Operating cash flow −$124MFY2022: Shares issued $1.3MFY2022: Capital spending −$13.8M$1.3MFY2022FY2023: Operating cash flow −$106MFY2023: Net borrowing −$3.0MFY2023: Shares issued $561KFY2023: Capital spending −$1.0M$561KFY2023FY2024: Operating cash flow −$32.7MFY2024: Net borrowing $500KFY2024: Shares issued $315KFY2024: Asset sales $20KFY2024: Capital spending −$9K$835KFY2024FY2025: Operating cash flow −$27.3MFY2025: Net borrowing $15.0MFY2025: Capital spending −$2.7M$15.0MFY2025
Over these 5 years operating cash flow totalled −$346M; the largest uses were operating cash flow ($346M) and capital spending ($27.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$91.1M
Debt$25.1M
Net cash$66.1M
Due within a year$7.1M
Cash runway19 months

Velo3D is burning cash: its operations consume cash, a free cash flow of −$58.7M a year at the current rate against $91.1M of cash and investments: a runway of about 19 months; $7.1M of debt also comes due within a year, which the cash covers before any new financing.

Velo3D: debt maturities by year (FY2025)Velo3D: debt maturities by year (FY2025)$7.1MYear 1$23.9MYear 2$3.4MYear 3
Principal due in each year as disclosed in the annual report, against $91.1M of cash and investments now.

Where the cash came from and went

Velo3D: sources (+) and uses (−) of cash, Q2 2026Velo3D: sources (+) and uses (−) of cash, Q2 2026Other financing$103MCash drawn (+) / kept (−)−$77.9MOperating cash flow−$21.6MCapital spending−$3.5MExchange rates$2K
Velo3D: sources (+) and uses (−) of cash, TTM to Q2 2026Velo3D: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$152MCash drawn (+) / kept (−)−$93.6MOperating cash flow−$53.3MCapital spending−$5.4M

From profit to cash

Velo3D: net income to operating cash flow, Q2 2026Velo3D: net income to operating cash flow, Q2 2026Net income−$11.5MDepreciation & amortization$712KStock-based pay$2.5MReceivables−$1.6MInventory$3.8MPayables−$2.7MAccrued liabilities−$3.2MDeferred revenue$3.5MContract assets−$8.0MPrepaid and other assets−$7.2MOperating cash flow−$21.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20263315640149
Q1 20264221776183
Q4 20256317561178
Q3 20254125791207
Q2 20253325494193
Q1 202540501182359
Q4 202451394127317
Q3 202410313383491093

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026−$21.6M−$3.5M—−$77.9M−$25.1M
Q1 2026−$18.0M−$940K—$22.5M−$18.9M
Q4 2025−$7.7M−$603K—−$27.2M−$8.3M
Q3 2025−$6.0M−$313K—−$11.0M−$6.3M
Q2 2025−$1.2M−$1.8M—$3.0M−$3.0M
Q1 2025−$12.3M—$15.0M−$2.7M−$12.3M
Q4 2024−$2.2M$19K$500K$597K−$2.2M
Q3 2024−$2.0M−$20K—$825K−$2.0M

Velo3D: income statement and cash flow

Velo3D, Q2 2026: revenue $20.7M (+52% year over year), operating margin -53.5%. The chart follows the revenue to costs, profit and cash.

Velo3D: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.