At RAPID + TCT 2025, I spoke with Dr. Arun Jeldi to debate his first 4 months on the helm of Velo3D. He outlined a revised strategic course because the new-look firm plots a path to profitability.
In January 2023, Velo3D launched a strategic evaluate after a stretch of monetary and regulatory setbacks. One 12 months later, amid a NYSE noncompliance discover and declining income, the Californian firm ceded 95% of its shares to Arrayed Additive. The transaction prompted a management change, with Jeldi, Arrayed’s chief govt, changing Brad Kreger as Velo3D’s CEO. Within the re-shuffle, Kreger was made Chief Working Officer.
Standing within the Velo3D sales space at Detroit’s Huntington Place exhibition middle, Jeldi outlined his journey from healthcare to entrepreneur and 3D printing govt. An NTR College of Well being Sciences graduate, Jeldi has constructed a considerable portfolio throughout the manufacturing sector. Apart from Velo3D and Arrayed Additive, he leads magnesium manufacturing agency Lite Magnesium Merchandise and magnesium extraction specialist Crown Magnesium Inc.
Since changing into Velo3D CEO, Jeldi has charted a brand new course for the Fremont-based metallic 3D printer OEM. The corporate’s new Speedy Manufacturing Providers (RPS) providing shifts the enterprise past machine gross sales, aiming to supply scalable metallic additive manufacturing capabilities.
Jeldi defined his aim to realize monetary stability and make sure the agency is “transferring in the precise course” by addressing buyer demand. In line with the brand new CEO, his first 90 days at Velo3D have exceeded all expectations, with “much more demand than we anticipated.” He additionally shared insights into the worth of 3D printing for protection, aerospace, and area purposes and revealed plans to construct a brand new manufacturing unit within the American Midwest.
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Velo3D’s monetary challenges
Jeldi’s precedence in his first 90 days as CEO was to chart a “new course” for Velo3D. Beforehand, the Californian agency prioritized manufacturing and promoting 3D printers to generate income. This method guided the event of its Sapphire vary of metallic laser powder mattress fusion (LPBF) techniques, together with the Sapphire 1MZ and Sapphire XC 3D printers.
Velo3D’s merchandise stand out because of their non-contact recoater know-how. Most LPBF techniques incorporate recoater blades that bodily unfold metallic powder materials throughout the construct plate. This may create defects and inhibit design complexity. Velo3D’s recoated blades are suspended above the powder mattress and use managed air to unfold materials, reportedly unlocking extra advanced geometries and enhancing construct high quality.
Regardless of these benefits, Velo3D machine gross sales alone have struggled to maintain the corporate’s money movement. The agency noticed its income decline YoY in every quarter of 2024. FY 2024 income dropped 47.1% YoY from $77.4M to $41.0M. Moreover, dipping Velo3D inventory costs prompted the agency to obtain two NYSE noncompliance notices in as a few years. Whereas Velo3D posted a -$82.3M working loss in FY’24, this determine improved by 38.2% from -$133.3M the earlier 12 months. Adjusted EBITDA, internet loss, and gross margin are additionally transferring in the precise course.
In the meantime, Nikon SLM Options, a key competitor out there, has capitalized on rising demand. Final 12 months, Lockheed Martin opened a 16,000-square-foot additive manufacturing facility that includes a number of SLM NXG 3D printers. Nikon’s quarterly earnings constantly cite rising curiosity in its large-format 3D printers, notably from shoppers within the aerospace, area, and protection sectors. In FY 2024, Nikon’s Digital Manufacturing section, which incorporates Nikon SLM, reported a 42.4% year-on-year income improve to ¥59.9 billion, pushed by expanded 3D printer gross sales.
A Strategic Pivot at Velo3D
Jeldi has shifted Velo3D’s strategic method to stay aggressive, eradicating its reliance on 3D printer gross sales. He famous that the corporate “had a special view in the marketplace earlier than,” however has now transitioned with a brand new give attention to “actual technique and monetary stability.”
On the coronary heart of this technique is Velo3D’s newly launched RPS providing. Launched final month, RPS provides prospects entry to Velo3D’s manufacturing cells, permitting them to scale manufacturing with out important capital funding. The service targets rising demand within the U.S. for versatile, scalable, and localized manufacturing, notably from aerospace, protection, and vitality prospects. Jeldi additionally revealed that his firm is actively working with 3D printing materials and metallic feedstock suppliers to enhance vertical integration and “create an ecosystem for our prospects to achieve success.”
Via the RPS workflow, Velo3D collaborates with shoppers to develop options tailor-made to their software wants, promising shorter design cycles and sooner qualification. Metrology software program, 3D printing course of management instruments, and data-driven evaluation are built-in to boost half reliability, output predictability, and certification at Velo3D’s manufacturing hubs.
In a Velo3D press launch, an unnamed “main aerospace engine producer” acknowledged, “RPS achieved extra in 4 months than we have been capable of accomplish within the earlier 4 years.” The agency reportedly used Velo3D’s new service to provide 11 large-format proof-of-concept components utilizing three supplies, transferring two into its manufacturing pipeline. It additionally claims to have made “substantial progress” in qualifying IN718 materials.
3D printing for aerospace, area, and protection
Demand for Velo3D’s revamped operations has surged, in accordance with Jeldi. The corporate had anticipated a “10% or 20% improve in orders” by the third or fourth quarter. Nevertheless, throughout the first 90 days of 20253, orders had doubled. “It’s clear that there’s much more demand than we anticipated,” Jeldi mentioned.
In line with Velo3D’s new CEO, this surprising uptick in orders has been pushed by rising demand in 3D printing for protection, area, and aerospace purposes. These sectors more and more require speedy prototyping capabilities and a high-mix of advanced geometries in small volumes. “Area is booming. Ammunition is booming,” defined Jeldi. This development comes amid a difficult worldwide geopolitical setting, with America’s safety and aerospace organizations looking for safer and localized provide chains.
As an illustration, underneath every week after our dialog, Velo3D signed a five-year, $15 million grasp companies settlement (MSA) with U.S. industrial area firm Momentus, Inc. The deal will see Jeldi’s firm present consulting and half fabrication companies by its RPS providing, accelerating the manufacturing of area techniques elements.
Momentus plans to make use of these 3D printed elements in its satellites, Orbital Service Automobiles, and different area techniques. In line with the San Jose-based agency, Velo’s LPBF know-how will unlock extra optimized designs, decrease manufacturing prices, improve half reliability, speed up prototyping, and open new income streams
Velo3D’s new chief believes the important thing benefit of additive manufacturing for protection lies in its capability to speed up the transition between idea, design, prototype, and manufacturing. He defined that conventional manufacturing is “backlogged” and hampered by sluggish processes and talent gaps.
Whereas AM boosts manufacturing effectivity, Jeldi acknowledges that Velo’s 3D printing capabilities are unsuitable for high-volume, million-part manufacturing runs. As an alternative, the corporate excels at delivering small numbers of high-quality, AM-optimized metallic components. It is a key purpose behind Velo3D’s give attention to protection and aerospace over different verticals, similar to automotive. “We’re not driving in automotive in any means as a result of we wish to be on this area,” Jeldi defined.
The way forward for 3D printing at Velo3D
For Jeldi, the way forward for 3D printing at Velo3D is vivid. Amid sturdy demand for the corporate’s new RSP service, Jeldi revealed plans to construct a brand new 3D printer manufacturing facility within the American Midwest.
This enlargement will see Velo3D develop its manufacturing capabilities throughout the US, shifting manufacturing nearer to prospects and labor swimming pools higher suited to scaled operations. Whereas Velo3D has not but chosen a remaining location, Jeldi goals to have the brand new facility in full manufacturing by 2027 or 2028. Moreover, the corporate is ready to retain a presence in California. R&D operations will stay within the Golden State resulting from a “lack of talent set within the Midwest.”
Velo3D’s new CEO isn’t simply planning for the following three years, he’s trying 25 years forward. Jeldi’s long-term roadmap consists of creating a next-generation Velo3D printer. He defined that the corporate’s R&D efforts give attention to creating a totally automated machine that any OEM can function with minimal expertise.
On the identical time, Velo3D plans to enhance price stability and scale up manufacturing to fulfill rising RSP demand. Within the Midwest, the corporate goals to develop additional with a number of new amenities and to construct a community of contract producers, making a safe 3D printing ecosystem.
Jeldi was clear that additive manufacturing can’t clear up all manufacturing challenges throughout the aerospace, area, and protection sectors. As an alternative, the long run will see Velo3D more and more leverage AM in a “hybrid mannequin” that mixes conventional manufacturing strategies. The just lately appointed CEO revealed that buyer suggestions is guiding this roadmap. Velo3D is speaking straight with its buyer base to ship worth, and has famous rising demand for sooner manufacturing capabilities. Jeldi is assured that higher aligning operations with the shoppers’ future imaginative and prescient “will make us profitable.”
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Featured picture exhibits an element 3D printed utilizing Velo3D’s Sapphire know-how on show at RAPID + TCT 2025. Photograph by 3D Printing Business.
