Small-cap SpaceX partner Velo3D soars on consensus-beating 1Q results

Shares of Velo3D, a small-cap maker of 3D printers for the aerospace industry whose products are used by such companies as SpaceX, soared nearly 50% on Wednesday to reach a four-month high, after the company reported first-quarter financial results that significantly beat Wall Street expectations. The stock has given back 1.7% in premarket trading on Thursday as of this writing.

Velo3D shares jumped nearly 50% on the Nasdaq on Wednesday to about $21.00 per share, the highest level since mid-January.

The rally came after the company reported that its revenue in the first quarter increased 48% year over year to $13.80 million. Wall Street had expected a top line of $9.85 million, Benzinga noted.

The company said the revenue growth was driven by demand from customers in the aerospace and defense sectors. In late March, it announced a five-year $9.8 million contract with the U.S. Defense Logistics Agency under which it will explore whether 3D printing can be used in weapons manufacturing, a move intended to reduce component delivery times. Velo3D says its technology, unlike standard 3D printing and traditional manufacturing, has no design constraints, allowing it to produce complex parts.

Among its other customers the company lists SpaceX and aircraft engine maker Honeywell.

At the same time, the company reported improved profitability. The loss per share in the first quarter narrowed 6.7-fold year over year to $0.28 per share versus analysts’ forecast of $0.48 per share. The gross margin was 17.2% after being negative 73.6% in the previous quarter. Velo3D CEO Arun Jeldi called the performance “a key inflection point.”

All of this allowed the company to confirm its 2026 revenue guidance of $60-70 million, which would represent growth of 30-52% versus 2025.

Velo3D remains unprofitable and ended the first quarter with $16.6 million in cash and cash equivalents versus $39 million at the end of last year, Tech Stock highlighted as negative aspects of the company’s earnings report.

The site also pointed to Velo3D’s April capital raise of $50 million through the issuance of additional stock, which diluted existing shareholders.

The two Wall Street analysts covering the company rate the stock a “buy.” Their average target price is $22.50 per share, about 5% above the latest closing price.