Exceeded Fourth Quarter and Full Year Revenue Forecast

Reiterates Previous FY2022 Revenue Guidance of $89 Million 

• Exceeded revenue forecast – 20% sequential increase / 45% growth vs FY 2020
• Shipped first Sapphire XC system to aerospace customer in Q421
• Achieved 2021 shipments goal of 23 systems - 77% year over year growth
• Continued bookings strength – 34 systems booked in 2021 versus goal of 24
• Significant backlog for 2022 – 23 Sapphire systems (18 Sapphire XC)

CAMPBELL, Calif. — (BUSINESS WIRE) — March 2, 2022 — Velo3D, Inc. (NYSE: VLD), a leading additive manufacturing technology company for mission-critical metal parts, today announced financial results for its fourth quarter and fiscal year ended December 31, 2021.

“Our performance reflects strong execution as we exceeded our fourth quarter and fiscal year 2021 revenue forecast, surpassed our bookings target and achieved a key strategic milestone as we shipped our first Sapphire XC system which will be a significant driver of our growth in 2022,” said Benny Buller, CEO of Velo3D. “Overall, 2021 was an important and successful year for Velo3D, and I’m enormously proud of everything we achieved. Customer demand for our industry leading Sapphire systems remains high as we help some of the world’s most innovative companies create the future using our advanced additive manufacturing technology”.

“In addition to shipping a record number of systems in the fourth quarter, our strong bookings reflected increasing demand across a number of verticals as we execute on our land and expand strategy. For the year, shipments increased more than 75% and we continued to add new customers, including our first customer in Europe, which is a significant market opportunity we are looking to capitalize on this year. Also, we believe we remain well positioned to achieve our 2022 goals given our fourth quarter execution as well as the strong revenue visibility provided by our current backlog of 23 systems, including 18 Sapphire XC systems. As a result, we are reiterating our previous 2022 revenue guidance of $89 million,” continued Buller.

“Looking forward, we are excited about our long-term opportunities given our industry leading technology, continued execution on our growth plans and strong customer demand. Specifically for 2022, our strategic priorities will focus on expanding our new and existing customer footprint in both the U.S and Europe reflecting the increasing demand for our Sapphire XC system. Additionally, we will continue the buildout of our new manufacturing facility which will enable us to more than double annual shipments in 2022. Finally, we will remain focused on delivering the highest level of service possible to enable our customers to design and build the high value metal parts they need to succeed-without compromise,” concluded Buller.