Velo3d, Inc. · NASDAQ:VELO
Velo3d — Q1 2022 Earnings Presentation
20 slides from Velo3d's earnings presentation, May 10, 2022
Slide 1: First Quarter 2022 Supplementary Slides
First Quarter 2022 Supplementary Slides Without Compromise M a y 1 0 , 2 0 2 2
Slide 2: Disclaimer
2 Disclaimer * Additional information on the use of Non-GAAP financial information, industry and market data and trademarks is included in the appendix of this presentation This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Secur
Slide 3: Benny Buller, CEO
Confidential & Proprietary | 3 Benny Buller CEO M a y 1 0 , 2 0 2 2
Slide 4: Q122 Highlights
4 Q122 Highlights • Continuing to cement our position as a differentiated technology leader in high value manufacturing • Strong Q1 revenue and bookings increases confidence in 2022 revenue target of $89m - 225% YoY growth • Q1 revenue growth – up 17% sequentially, >900% YoY • Total backlog increase
Slide 5: High Visibility to Achieve 2022 Revenue Guidance
5 High Visibility to Achieve 2022 Revenue Guidance • Strong Q1 performance, 2022 recurring revenue, backlog drives 2022 visibility • >75% of 2022 revenue already recognized, recurring or booked • Reduced needed bookings gap to meet 2022 guidance by >35% sequentially • Well positioned to achieve 2022
Slide 6: Sapphire XC - Delivering to Market at Scale
6 • Strong demand reflects differentiated value of Velo3D technology • Sapphire XC - drives both Sapphire XC and Sapphire demand • Increasing customer adoption of Sapphire XC • >45% of Q122 revenue • Enabled by successful production ramp up • >90% of total backlog as of Q122 • Expanding Sapphire XC
Slide 7: Increasing Confidence in 2022 Success
7 2021A Q1 22 2022 Guidance New Customers1 10 2 23-25 Total Customers1 18 20 41-43 Total Shipments 23 8 47-49 Units Operating 46 54 93-95 Avg. Existing Customers’ Purchases2 1.3 0.33 1.2-1.4 1. Based on shipments / 2022 customer guidance dependent on existing customer purchasing pattern 2. Average n
Slide 8: Increasing Confidence in 2022 Success
8 Increasing Confidence in 2022 Success 1. Revenue from all units shipped within calendar year: Revenue from 3D printer sales and ARR transactions 2. Revenue from maintenance, support services and system leases attributed to systems delivered 3. Year of Sale - revenue/total shipments (sales +ARR) 4.
Slide 9: 2022 Strategic Priorities
9 Increase existing customer footprint / expand new customer adoption • Further investment in ensuring existing customer success – drives repeat orders • EU expansion – significant customer interest / expect strong new customer adoption in 2022 Execution of Sapphire manufacturing expansion plan • Su
Slide 10: Bill McCombe, CFO
Confidential & Proprietary | 10 Bill McCombe CFO M a y 1 0 , 2 0 2 2
Slide 11: Financial Summary
11 Financial Summary 1. Reconciliations to U.S. generally accepted accounting principles (GAAP) financial measures are presented under “Non-GAAP Financial Information.” Adjusted Operating Expenses excludes stock-based compensation. Adjusted EBITDA excludes interest expense, tax expense, depreciation
Slide 12: Strong Balance Sheet Supports Growth Plan
12 Strong Balance Sheet Supports Growth Plan Balance Sheet – March 31, 2022 ($m) Cash and Investments $186 Other Current Assets 64 Long Term Assets 37 Total Assets $287 Current Liabilities (less debt) 51 Total Debt 7 Long Term Liabilities 9 Earnout/Warrant Liability 170 Shareholders Equity 50 Total
Slide 13: Reiterating 2022 Guidance on Strong Demand
13 Reiterating 2022 Guidance on Strong Demand 1. By shipments 2. Bookings – systems expected to ship FY2022 through mid FY2023 2022 Guidance Total Revenue $87-$91 Bookings 47-492 New Customers1 23-25 Total Shipments 47-49
Slide 14: Q&A
Confidential & Proprietary | 14 Q&A
Slide 15: Appendix
+ 1 ( 4 0 8 ) 6 1 0 - 3 9 1 5 info@velo3d.com 511 Division St. Campbell, CA 95008 Appendix
Slide 16: Non-GAAP Reconciliation - Adjusted Operating Expenses (Unaudited)
16 Non-GAAP Reconciliation - Adjusted Operating Expenses (Unaudited)
Slide 17: Non-GAAP Reconciliation - Adjusted EBITDA (Unaudited)
17 Non-GAAP Reconciliation - Adjusted EBITDA (Unaudited)
Slide 18: Non-GAAP Reconciliation - Non-GAAP Net Income (Loss) (Unaudited)
18 Non-GAAP Reconciliation - Non-GAAP Net Income (Loss) (Unaudited)
Slide 19: Disclaimer
19 Disclaimer Industry and Market Data In this presentation, the Company relies on and refers to publicly available information and statistics regarding the market in which the Company competes and other industry data. The Company obtained this information and statistics from third-party sources, in
Slide 20: First Quarter 2022 Supplementary Slides
First Quarter 2022 Supplementary Slides Without Compromise M a y 1 0 , 2 0 2 2