Velo3D posted an adjusted loss per share of USD 0.08 in Q4, beating analyst consensus estimates of a USD 0.12 loss per share and improving from USD 0.10 loss per share in Q4 2021. For the full year 2022, the loss per share improved to USD 0.41 from a loss per share of 0.88 in 2021.

Q4 revenue stood at USD 29.8 million, growing 6.8% YoY and beating analysts’ estimates by 6.1%. 2022 full-year revenue also increased by 194.3% YoY to USD 80.8 million. Strong demand for Sapphire printers and the customer base increasing by more than 50% contributed to the revenue growth.

The gross margin improved to 5.9% in Q4, compared to a negative 0.6% in Q4 2021. 2022 full-year adjusted EBITDA worsened to negative USD 77.4 million from negative USD 46.1 million in 2021, a change of 67.8% YoY. This was in line with the change of 60.3% in adjusted operating expenses (excluding the impact of depreciation and amortization) amounting to USD 81.7 million in 2022.

Velo3D guided revenue in 2023 to reach USD 120–130 million, implying growth of 49%–61% YoY. It also expects to achieve a gross profit margin of 19–21% in 2023, compared to 3.6% in 2022.