Velo3D, Inc. (VELO) Q4 2021 Earnings Call

Investor webinar replay

Meeting Overview The meeting focused on the company's performance in 2021, highlighting significant achievements in revenue growth, customer acquisition, and product shipments. Key strategic priorities for 2022 were also discussed, emphasizing the expansion of the customer base and the introduction of new products. Key Discussion Points - Overview of 2021 financial performance, including revenue growth of 45% and successful shipment of new systems. - Introduction of the CephRxC system as a primary growth driver for 2022. - Achievements in bookings, with 34 systems booked against a goal of 24. - Expansion of customer base across various sectors, including energy, aviation, and defense. - Reduction in customer concentration, with the largest customer accounting for 27% of revenue in 2021. - Plans for increasing the sales force and expanding operations in Europe. Decisions Made - Reiteration of the 2022 revenue guidance of $89 million. - Commitment to continue investing in infrastructu...

Watch the replay

Replay transcript excerpt

[Speaker identities could not be resolved; generic labels used] [00:00] Speaker 1: For our continued growth this year and beyond. [00:03] Speaker 1: Specifically, [00:04] Speaker 1: we ended [00:06] Speaker 1: 2021 [00:07] Speaker 1: with strong execution as we met or exceeded our financial forecast [00:11] Speaker 1: while achieving a key strategic milestone with the shipment of our 1st SEPAX system. [00:17] Speaker 1: For the 0.25, revenue rose 20% sequentially [00:21] Speaker 1: and 54% [00:22] Speaker 1: year over year, both ahead of our guidance. [00:26] Speaker 1: On an annual basis, revenue growth was also ahead of plan at 45%, [00:31] Speaker 1: as we saw increasing demand from both new and existing customers [00:36] Speaker 1: throughout the year. [00:37] Speaker 1: We also shipped 23 systems for the year in line with our forecast with record shipments in the 4th 0.25. [00:45] Speaker 1: More importantly, [00:46] Speaker 1: as I just mentioned, we shipped our 1st CephRxC [00:50] Speaker 1: system to a customer during the 0.25. [00:53] Speaker 1: This is a very important accomplishment as the CephRxC [00:57] Speaker 1: will be the primary driver of growth in 2022. [01:02] Speaker 1: We had an outstanding 0.25 [01:04] Speaker 1: from a bookings perspective, [01:06] Speaker 1: booking 13 systems during the 0.25. [01:09] Speaker 1: This brought our total 2021 [01:11] Speaker 1: bookings to 34 systems compared to our goal of 24 for the year. [01:17] Speaker 1: Additionally, [01:18] Speaker 1: we exited 2021 [01:20] Speaker 1: with [01:21] Speaker 1: 23 systems in backlog against our plan of 20, adding to both our Sephar and Sephar XE backlog. [01:29] Speaker 1: Finally, [01:30] Speaker 1: Our balance sheet remains very healthy with $223 [01:33] Speaker 1: million...