Velo3D, Inc. (VLD): history, ownership, mission, how it works & makes money

A Brief History of Velo3D, Inc. (VLD)

Founding and Early Years

Velo3D, Inc. was founded in 2014 by Benny Buller, who had previously worked with technology related to metal additive manufacturing. The company's headquarters is located in Campbell, California. Velo3D specializes in advanced 3D metal printing technologies aimed at providing solutions for various industries, including aerospace and energy.

Technology Development

The company developed its proprietary additive manufacturing technology, known as Smart Metal™, which allows for the production of high-performance, complex metal components. In 2020, Velo3D launched the Velo3D Sapphire printer, equipped with capabilities that enable printing geometries previously deemed impossible with traditional techniques.

Funding Rounds

Velo3D has successfully raised multiple rounds of funding to support its growth and development:

• 2015: Series A funding of $5 million.
• 2016: Series B funding totaling $30 million.
• 2021: Series D funding raised $40 million, bringing total funding to approximately $100 million.

Public Offering

On September 14, 2021, Velo3D went public via a merger with Jaws Acquisition Corp, a special purpose acquisition company (SPAC). The merger valued the combined company at approximately $1.6 billion.

Financial Performance

For the fiscal year 2022, Velo3D reported revenues of approximately $30 million, representing a significant increase compared to the previous fiscal year. The company's gross margin for the same period was around 25%.

Client Base and Partnerships

Velo3D has established partnerships with several high-profile companies in the aerospace and defense sectors. Notable clients include:

• NASA
• Boeing
• Raytheon Technologies

Market Expansion

As of 2023, Velo3D has expanded its market presence internationally, with installations in over 20 countries. The company's focus remains on high-value industries that require complex metal components.

Product Line

The key products offered by Velo3D include:

Recent Developments

In Q2 2023, Velo3D announced the launch of its Next-Gen Sapphire Printer, promising greater efficiency and reduced material waste in the printing process. The new model is anticipated to increase production speed by up to 40%.

A Who Owns Velo3D, Inc. (VLD)

Current Ownership Structure

As of October 2023, Velo3D, Inc. (NASDAQ: VLD) is publicly traded, and its ownership is divided among various institutional investors, individual shareholders, and company insiders. The breakdown of ownership is as follows:

Major Institutional Shareholders

The following table lists the top institutional shareholders of Velo3D along with their respective ownership stakes:

Insider Ownership Details

Velo3D's management team and board members also hold shares, contributing to the company's strategic direction. Key insiders include:

Recent Financial Performance

Velo3D, Inc. reported its financial figures for Q2 2023 indicating the following:

Velo3D, Inc. (VLD) Mission Statement

Corporate Vision

Velo3D, Inc. aims to revolutionize manufacturing by providing advanced metal 3D printing solutions. Their mission is rooted in enabling companies to produce complex geometries and high-performance components through their innovative technology.

Strategic Objectives

• Drive innovation in additive manufacturing.
• Enhance customer productivity and efficiency.
• Expand market leadership in high-value industries.

Key Financial Highlights

As of 2023, Velo3D, Inc. reported the following financial metrics:

Target Markets

Velo3D primarily targets industries that require highly precise and complex manufacturing capabilities:

• Aerospace
• Defense
• Energy
• Automotive

Technology and Innovation

Velo3D’s mission statement emphasizes its commitment to advanced technology, notably:

• Developing the Genius platform for metal additive manufacturing.
• Offering in-situ monitoring and quality control.
• Utilizing proprietary software for optimized 3D printing processes.

Partnerships and Collaborations

Velo3D actively engages with industry leaders and research institutions to enhance its technology:

• Collaborations with aerospace leaders like Boeing.
• Partnership with academic institutions for research and development.

Environmental Commitment

Velo3D is dedicated to sustainability in its manufacturing processes with a focus on:

• Minimizing waste through additive manufacturing techniques.
• Utilizing recyclable materials in production.

Future Goals

Looking ahead, Velo3D aims to achieve:

• Expansion into new geographical markets.
• Doubling production capacity by 2025.

Competitive Landscape

Velo3D operates in a competitive environment characterized by key players in the additive manufacturing space:

Conclusion

The mission statement of Velo3D, Inc. reflects its objectives to innovate in metal additive manufacturing and to serve high-value sectors with cutting-edge technology.

How Velo3D, Inc. (VLD) Works

Company Overview

Velo3D, Inc. (VLD) specializes in advanced metal additive manufacturing, primarily focusing on the aerospace and energy sectors. The company's technology enables the production of complex geometries that traditional manufacturing techniques cannot achieve.

Technology and Products

Velo3D's primary product is the Velo3D Sapphire printer, which incorporates a unique metal printing process known as SupportFree technology. This allows for the printing of intricate designs without the need for support structures.

Financial Performance

As of the third quarter of 2023, Velo3D reported revenue of $14.5 million, a year-over-year increase of 35%. The company generated revenue primarily from printer sales and service contracts.

Market Position and Competitors

Velo3D operates in a competitive landscape with key players including GE Additive, HP Inc., and 3D Systems.

As of 2023, the global metal 3D printing market is valued at approximately $2.4 billion, with projections to reach $6.8 billion by 2027, growing at a CAGR of 23.5%.

Growth Strategy

Velo3D aims to expand its market share by enhancing its product offerings and increasing its customer base in the aerospace and energy industries. The company plans to invest in R&D, allocating approximately 20% of its revenue towards technological innovations.

Recent Developments

• In September 2023, Velo3D secured a contract worth $8 million with a leading aerospace firm for the delivery of its Sapphire printers.
• The company launched a new version of its Sapphire XC printer, which offers an expanded build volume, accommodating larger components.
• Velo3D has established strategic partnerships with key players in the aerospace sector to further penetrate the market.

Customer Base

Velo3D’s clients include notable firms in aerospace, such as Boeing and NASA, and energy companies like Siemens.

Conclusion on Innovation

Velo3D is differentiated by its unique approach to additive manufacturing. The company’s technology enables innovative designs that lead to reduced weight and improved performance in parts, which is crucial for aerospace applications.

How Velo3D, Inc. (VLD) Makes Money

Revenue Streams

Velo3D, Inc. generates revenue primarily through the sale of its advanced metal 3D printing systems and related services, including:

• Sales of printers
• Materials and consumables
• Software licenses
• Service contracts and maintenance agreements

Product Offerings

The company's flagship product is the Sapphire 3D printer, which is designed for high-precision manufacturing in industries such as aerospace and defense, and automotive. As of Q2 2023, the unit price for the Sapphire printer was approximately $1.5 million.

Sales Data

In the fiscal year 2022, Velo3D reported total revenue of $22.4 million, with approximately $15 million derived from the sale of printers. The remaining revenue came from services, materials, and software offerings.

Cost of Goods Sold (COGS)

The COGS for Velo3D in FY2022 was reported at $15 million, resulting in a gross profit margin of approximately 33%.

Service and Maintenance Revenue

Service and maintenance contracts contributed significantly to recurring revenue, amounting to $4 million in FY2022. This segment is expected to grow as the company expands its customer base.

Market Segmentation

Velo3D primarily focuses on industries where precision manufacturing is critical. The estimated market size for metal 3D printing was valued at approximately $8.5 billion in 2022, with projections to reach $16.2 billion by 2027.

Geographic Reach

As of mid-2023, Velo3D generates revenue from various geographic locations:

Financial Performance

For the Q3 2023, Velo3D reported revenues of $9 million, showing a year-over-year growth of 35%. This growth was primarily driven by increased sales of printers and a rise in service contracts.

Future Growth Prospects

Velo3D plans to expand its R&D investments, estimated at about $5 million in FY2023, which is aimed at enhancing product capabilities and developing new technologies.

Partnerships and Collaborations

Strategic partnerships with leading aerospace and automotive companies have enhanced Velo3D's market presence. Notable collaborations include contracts with companies such as Boeing and Lockheed Martin.

Challenges and Considerations

Velo3D faces challenges such as competition from other 3D printing companies and the need to continuously innovate. Operational costs are projected to rise as the company scales, with operational expenses expected to reach approximately $25 million in FY2023.

Conclusion on Financials

With a focus on scalability and technological advancement, Velo3D aims to capture a larger share of the rapidly growing 3D printing market while managing costs effectively.