Velo3D, Inc. Provides Earnings Guidance for the Second Quarter of 2024 and Reaffirms Earnings Guidance for the Fiscal Year 2024
May 15, 2024 at 04:05 pm
Share
Velo3D, Inc. provided earnings guidance for the second quarter of 2024 and reaffirmed earnings guidance for the fiscal year 2024. For the quarter, the company expects revenue growth of more than 30%.
For the year, the company expects revenue in the range of $80 million to $95 million. The company continue to believe that the company is well on the company's way to achieve sustainable profitability as the company exit 2024.
Velo3D, Inc. is a metal three-dimensional (3D) printing technology company. The Company produces a fully integrated hardware and software solution based on its laser powder bed fusion (L-PBF) technology. Its technology enables the production of complex, mission-critical parts that existing additive manufacturing (AM) solutions cannot produce without the need for redesign or additional assembly. Its Sapphire family of systems (3D Printers) give its customers who are in space, aviation, defense, automotive, energy and industrial markets the freedom to design and produce metal parts with complex internal features. Its end-to-end solution includes the flow print preparation software, the Sapphire family of printers, and the Assure quality control system, all of which are powered by its Intelligent Fusion manufacturing process. Its customers are primarily original equipment manufacturers and contract manufacturers who look to AM to solve issues with metal parts manufacturing technologies.