Big quarter for $VELO. If you track the hard tech and defense supply chains, this print matters. They are scaling production and getting their cost structure in check. Highlights: • Revenue +48% YoY to $13.8M • 3D Printer & Parts Revenue jumped 60% YoY • Backlog sitting solid at $30M • Secured a $9.8M DLA contract for defense manufacturing The balance sheet is significantly de-risked. Debt is down to ~$9M after $15M in conversions and the recent $50M equity offering. Management is projecting $60M-$70M for FY26 and expects to turn EBITDA positive in H2. $VELO ripping AH, up 22%.
