Velo 3 D Inc (VLD)

Velo3D Inc (VLD) stock dropped by 31.53% due to the release of its fourth-quarter 2023 earnings report. The 3D printing company missed both earnings per share (EPS) and revenue estimates for the quarter, leading to a negative market reaction.

• Fourth Quarter 2023 Results: Velo3D reported adjusted losses per share of 29 cents, significantly wider than the expected loss of 8 cents per share. This performance was also worse than the loss of 8 cents per share reported in the same period of the prior year. Additionally, the company's revenue of $1.8 million fell far short of analysts' revenue estimate of $19.5 million and the $29.8 million reported in the fourth quarter of 2022.
• Revenue Guidance for Fiscal 2024: Velo3D's revenue guidance for the full fiscal year of 2024 ranges from $80 million to $95 million. This forecast is below Wall Street's revenue estimate of $121.29 million for the year, indicating potential challenges ahead for the company.
• Investor Reaction and Outlook: The sharp decline in Velo3D's stock price reflects investor concerns about the company's performance and outlook. Investors will likely closely monitor Velo3D's execution of its cost realignment programs and its ability to improve margins and cash flow. The company's ability to meet or exceed its revenue guidance for fiscal 2024 will also be a key factor in determining investor sentiment and the stock's future performance.