Strategic Combination with Arrayed Additive Inc.
Velo3D announced a transformative milestone with the strategic combination with Arrayed Additive, enhancing their market position with unmatched metal additive manufacturing capabilities, especially in aerospace, defense, automotive, and engineering sectors.
Shift to High Margin Business Model
Velo3D has shifted from a volume-driven to a value-driven strategy, focusing on higher-value system sales with significant ASPs, resulting in better margins and long-term customer relationships.
Strengthened Financial Position
The company has significantly strengthened its balance sheet by eliminating nearly all senior debt and warrant liabilities, securing $15 million in bridge finance, and reducing operating expenses by more than 20% compared to 2023.
Backlog Growth and Revenue Visibility
Velo3D exited 2024 with a $16 million backlog and expects revenue growth of more than 30% in 2025, driven by a robust pipeline and high visibility into future revenue.