Velo3D, Inc. announced on March 24 its financial results for the fourth quarter and full year ended December 31, 2025, and introduced a long-term capacity plan that could see up to approximately 400 production systems over the next decade.
The company reported double-digit revenue growth in 2025 and highlighted strong demand for its Rapid Production Solutions. “We achieved double-digit revenue growth in 2025, reflecting strong demand for our Rapid Production Solutions,” said Arun Jeldi, CEO of Velo3D. He added that a record number of bookings in the fourth quarter and a robust backlog provided momentum going into 2026. Jeldi also noted key contracts with defense organizations such as the Department of War and U.S. Army’s Ground Vehicle Systems Center.
Jeldi said market interest is growing quickly: “Demand signals across the market are strong and clear, with accelerating interest in our Rapid Production Solutions and large-format additive manufacturing capabilities.” He explained that as defense programs move from development to production phases, expanding production capacity will be critical for meeting increased demand.
Discussing future plans, Jeldi stated: “Based on current demand trajectories and our expanding program portfolio, we have developed a long-term capacity plan envisioning up to approximately 400 production systems, ramping over the next decade, subject to securing additional financing and continued program growth.” He outlined intentions to raise capital through asset-backed debt financing or government-backed lending programs while keeping shareholder dilution minimal.
For the fourth quarter of 2025, total revenue was $9.4 million; however gross margin declined primarily due to inventory write-downs and government shutdown-related delays. Full-year revenue reached $46 million—a year-over-year increase of 54%—with operating expenses down compared to last year. The company ended December with $39 million in cash equivalents compared to $1.2 million at the end of last year.
A conference call discussing these results was scheduled for March 24 via webcast on Velo3D’s investor relations website.
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