Velo3D Inc Down 5.12% To $1.21 After Earnings Miss

Velo3D Inc (VLD) reported less than expected earnings this afternoon for Q3 2023.

The consensus among analysts for Velo3D Inc was for an earnings per share (EPS) loss of $0.08 per share. The firm failed to meet those projections, reporting an EPS loss of $0.10 per share, a negative surprise of $0.02 (-25%). Profits rose 17% year-over-year after reporting an EPS loss of $0.12 per share in its year-ago quarter. The positive growth rate signals that the Technology company is performing well amid recent economic conditions.

Analyst projections for Velo3D Inc revenue came in at a consensus of $27 million. Third-Quarter revenues missed estimates for $24.1 million by $2.9 million (11%). The company achieved 26% growth year-over-year compared to the firm's revenue of $19.1 million from the year-ago quarter. The lower earnings growth relative to revenue signals Velo3D Inc has not been able to improve its profit margin.

The stock is down 5.12% to $1.21 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Velo3D Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 37. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Velo3D Inc provides an additive manufacturing (AM')