Velo3D Inc (VELO) Stock Forecast & Price Target

Velo3D is supported by accelerating adoption of its metal additive manufacturing platform in aerospace, defense, energy, and space, where customers need complex mission-critical parts that traditional manufacturing struggles to produce. Revenue rose 52% year over year to $20.7 million in 2Q26, bookings were $29 million, backlog was $31 million, and cash and cash equivalents were $91.1 million, while gross margin improved to 21.5% as utilization and operational discipline strengthened. Its shift toward Rapid Production Solutions, rising production deployments, a $65 million to $75 million 2026 revenue outlook, and a path to positive adjusted EBITDA in 2H26 all point to improving visibility, scalability, and a more durable earnings profile.

Velo3D is viewed negatively because the company remains a going concern as of March 2026, has already posted operating losses of $54.9 million in 2025 and $78.9 million in 2024, and still expects future losses and negative cash flow. Although 2Q26 revenue rose 52.3% y/y to $20.7 million and bookings reached $29 million, non-GAAP operating expenses climbed 49.5% y/y to $13.1 million, leaving a $(9.0) million net loss and only modest non-GAAP gross margin of 21.5%. The outlook is further weakened by heavy dependence on defense and aerospace demand, long qualification cycles, competitive pressure, likely financing needs, and the risk that weak liquidity or execution issues could force dilutive capital raises or broader restructuring.