The company reported a net loss of $16.7 million, or 52 cents a share, compared with a loss of $11.2 million, or 65 cents a share, a year earlier. Excluding certain one-time items, the adjusted loss was 34 cents a share; analysts polled by FactSet had expected 26 cents.

Revenue rose to $20.5 million from $13.6 million a year earlier, topping analysts’ $19.3 million estimate. Velo3D said it recorded $28.9 million in new bookings during the quarter. The stock had closed down 3.1% at $6.04 and is down 56% this year.

Velo3D said its going-concern assessment does not assume additional financing to fund operations or meet obligations. It reaffirmed its full-year revenue forecast of $65 million to $75 million and cut its capital expenditure outlook to $10 million to $20 million, a $30 million reduction that largely reflects planned spending shifting to 2027.

The company now expects positive net cash from operations and positive earnings before interest, taxes, depreciation and amortization in 2028. Its previous forecast called for positive Ebitda in the second half of this year.