Velo3D (VLD) Misses Q3 EPS by 2c, offers guidance

Velo3D (NYSE: VLD) reported Q3 EPS of ($0.10), $0.02 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $24 million versus the consensus estimate of $27 million.

GUIDANCE:

The company expects its fourth quarter to be a transition period as it focuses on the execution of its realignment strategy. As a result of the impact of our realignment and delays in certain fourth quarter bookings, the company now expects 2023 revenue to be in the range of $91-$103 million compared to its previous guidance of $105-$115 million. The company believes its realignment strategy will extend its ability to achieve its profitability goals in 2024, including achieving free cash flow breakeven in the second quarter of 2024.

For the fourth quarter of 2023, the company expects the following:

Revenue in the range of $15 million to $27 million, versus the consensus of $27.006 million.
Gross margin in the range of 5% to 17%, excluding non-recurring charges related to its cost reduction initiatives

For the fiscal year 2023, the company’s updated guidance is as follows:

Velo3D sees FY2023 revenue of $91-103 million, versus the consensus of $107.2 million.
Gross margin in the range of 9% to 12%, excluding non-recurring charges related to its cost reduction initiatives

For earnings history and earnings-related data on Velo3D (VLD) click here.

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