Velo3d, Inc. · NASDAQ:VELO
Velo3d — Q1 2023 Earnings Presentation
18 slides from Velo3d's earnings presentation, May 1, 2023
Slide 1: First Quarter 2023 Supplemental Slides
First Quarter 2023 Supplemental Slides Without Compromise M a y 1 , 2 0 2 3
Slide 2: Disclaimer: Forward Looking Statement
2 Disclaimer Forward Looking Statement This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1996. The company’s actual results may differ from its expectations, estimates and projections and cons
Slide 3: Q123 Summary
3 Q123 Summary Technology leadership driving demand Q1 revenue of $27M - up 120% YoY Manufacturing execution Continued ramp to higher mix of Sapphire XC / 1MZ systems Efficiency improvement – leadership / training / process initiatives Bookings provides significant Q223 / FY 2023 visibility Q1 booki
Slide 4: High Visibility to Achieve Q2/FY23 Revenue Guidance
4 High Visibility to Achieve Q2/FY23 Revenue Guidance Strong Q1 performance, 2023 recurring revenue, backlog drives 2023 visibility Q223 - 75% of forecasted revenue booked / recurring 2023 – >50% of forecasted revenue already recognized, recurring or booked Expanding pipeline de-risks bookings gap t
Slide 5: Operational Efficiency Progress
5 Operational Efficiency Progress Manufacturing efficiency success Strengthened operations leadership team Manufacturing cycle time improvements - already showed impact in Q1 Reorganized factory floor to improve efficiency Certain supply chain initiatives now complete Benefitting from build out of s
Slide 6: 2023 Strategic Priorities – Q123 Update
Confidential & Proprietary | 6 2023 Strategic Priorities – Q123 Update Grow revenue by >50% Strong Q123 results reflect increasing customer demand Q123 bookings / backlog drive 2023 confidence Continuously improve gross margin - 30% in Q423 Strong Q123 GM – continued expansion in 2023 Will be driven
Slide 7: Bill McCombe, CFO
Confidential & Proprietary | 7 Bill McCombe CFO
Slide 8: Financial Summary
8 Financial Summary 1. Reconciliations to U.S. generally accepted accounting principles (GAAP) financial measures are presented under “Non-GAAP Financial Information.” Non-GAAP Operating Expenses excludes stock- based compensation . Adjusted EBITDA excludes interest expense, tax expense, depreciatio
Slide 9: Gross Margin Drivers
9 Q123 drivers Reduction in Bill of Material costs Improved manufacturing efficiency 2023 drivers Bill of Material cost reduction Volume - driving overhead cost absorption/labor efficiencies ASP improvement due to price increases and mix On plan to achieve Q423 target of 30% Gross Margin Expansion
Slide 10: Strong Balance Sheet Supports Growth Plan
10 Strong Balance Sheet Supports Growth Plan $80M $16M $3M $12M $1M $15M $64M Q4 2023 Cash Adj. EBITDA Inventory Other Working Capital CAPEX Financings Q1 2023 End Balance Sheet – March 31, 2023 ($M) Cash and Investments $64 Other Current Assets 101 Long Term Assets 49 Total Assets $214 Current Liab
Slide 11: 2023 Outlook
11 2023 Outlook Q2 2023 Guidance Revenue: $25 - $29M Gross margin: 12% - 16%* Bookings: $23 - $29M FY 2023 Guidance unchanged Revenue: $120 - $130M, up >50% YoY Gross margin: 19% - 21%* / 30% in Q423 Bookings: $100 - $130M Focus for 2023: improve profitability and cash flow * 2023 gross margin range
Slide 12: Q&A
Confidential & Proprietary | 12 Q&A
Slide 13: Appendix
Appendix + 1 ( 4 0 8 ) 6 1 0 - 3 9 1 5 info@velo3d.com 511 Division St. Campbell, CA 95008 13
Slide 14: Non-GAAP Reconciliation - Non-GAAP Operating Expenses
14 Non-GAAP Reconciliation - Non-GAAP Operating Expenses (Unaudited)
Slide 15: Non-GAAP Reconciliation - Adjusted EBITDA
15 Non-GAAP Reconciliation - Adjusted EBITDA (Unaudited)
Slide 16: Non-GAAP Reconciliation - Non-GAAP Net Loss
16 Non-GAAP Reconciliation - Non-GAAP Net Loss (Unaudited)
Slide 17: Disclaimer: Industry and Market Data
17 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 18: First Quarter 2023 Supplemental Slides
First Quarter 2023 Supplemental Slides Without Compromise M a y 1 , 2 0 2 3