Velo3D Inc (NASDAQ:VELO) posted financial results for the second quarter after the market close on Tuesday. Here’s a rundown of the additive manufacturing company’s report.
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Velo3D Quarterly Earnings Highlights
Velo3D reported second-quarter revenue of $20.66 million, beating analyst estimates of $13.52 million, according to Benzinga Pro. The company posted a second-quarter adjusted loss of 30 cents per share, beating analyst estimates for a loss of 31 cents per share.
Total revenue was up 52.3% year-over-year as 3D Printer and Parts revenue grew 57% year-over-year, driven by an increase in average selling price, product mix and rapid production solutions revenues related to an increase in production volume.
