Sezer Canberk
Velo3D Actions (New York Stock Exchange:VLD) went up to 21% after the metal 3D printing solutions company’s fourth-quarter results topped analyst consensus.
VLD posted fourth quarter non-GAAP EPS of -$0.08, outperforming by $0.04, and revenue of $29.78 million was +186.1% year-over-year and beat estimates by $1.72 million.
The company continues to see strong demand for its Sapphire family of printers and said it shipped “a record number” of Sapphire XC systems during the fourth quarter.
“Production cycle times for our Sapphire XC system continue to improve due to increased volume and improved manufacturing efficiencies. This improvement is important as it has a direct impact on gross margin,” CEO Benny Buller said in fourth quarter earnings call.
Other Q4 metrics: Gross margin 5.9%, operating expenses decreased 15% to $23.7 million, net income $22.6 million, adjusted EBITDA was a loss of $14.4 million, quarter-end cash and investments it was $80 million.
Panorama: For the first quarter of 2023, the company expects revenue of $25-28 million and a gross margin of around 9-11%, assuming no impact from potential non-recurring charges.
For 2023, VLD anticipates revenue in the range of $120 million to $130 million, with gross margins of 19-21%, assuming no impact from potential non-recurring charges, with gross margin around 30% in Q4 of this year.
VLD fell 77.1% in 2022.
Seeking Alpha contributor Gary Bourgeault recently made a “hold” case for VLD.