Velo3D Inc. reported revenue of $13.6 million for the third quarter of 2025 and a backlog of $21.1 million as of September 30, 2025. The company posted a GAAP net loss of $11.8 million, or $0.69 per share, compared to a GAAP net loss of $23.1 million, or $37.54 per share, in the same period last year. Non-GAAP net loss was $9.2 million, or $0.54 per share, versus $14.5 million, or $23.59 per share, in the third quarter of 2024. Gross margin for the quarter was 3.2%, down from 49.4% in the same period last year, which included a one-off license revenue of $5 million. Velo3D reaffirmed its 2025 revenue outlook of $50 million to $60 million and expects to achieve EBITDA positivity in the first half of 2026. Key business developments include the completion of its uplisting to the Nasdaq Capital Market and a public offering of 5.8 million shares at $3.00 per share.