Financial Statements — VELO
Balance Sheet
(in millions USD)| Metric | Q2
2026 | Q1
2026 | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 | Q1
2024 | Q3
2023 | Q2
2023 | Q3
2022 | Q2
2022 | Q1
2022 | Q3
2021 | Q2
2021 | Q1
2021 |
|---|
| Cash & Equivalents | 91.14 | 16.56 | 11.84 | 0.85 | 3.87 | 1.64 | 2.46 | 7.75 | 58.13 | 28.87 | 37.14 | 43.51 | 104.43 | 296.83 | 0.15 | 1.27 |
| Short-term Investments | -- | -- | -- | -- | -- | 0.00 | 0.70 | 3.15 | 13.47 | 18.48 | 26.87 | 98.29 | 81.72 | -- | -- | -- |
| Accounts Receivable | 8.36 | 6.73 | 6.67 | 5.39 | 4.57 | 10.21 | 8.34 | 11.65 | 12.60 | 14.28 | 14.35 | 11.82 | 10.20 | 6.56 | -- | -- |
| Inventory | 27.58 | 28.10 | 35.39 | 38.42 | 46.13 | 61.98 | 59.52 | 62.80 | 81.16 | 78.02 | 73.94 | 61.91 | 42.82 | 15.22 | -- | -- |
| Total Current Assets | 156.13 | 65.17 | 59.17 | 48.90 | 61.77 | 79.79 | 82.17 | 98.35 | 183.77 | 157.76 | 164.92 | 222.62 | 250.05 | 329.18 | 0.52 | 1.79 |
| Property, Plant & Equipment | 16.15 | 16.39 | 12.42 | 15.20 | 13.69 | 13.15 | 14.19 | 15.25 | 17.43 | 18.38 | 19.08 | 17.72 | 12.44 | 5.00 | -- | -- |
| Total Non-current Assets* | 44.01 | 27.23 | 34.73 | 29.66 | 29.63 | 31.00 | 34.48 | 37.80 | 46.23 | 49.05 | 48.80 | 40.79 | 37.43 | 18.61 | 345.01 | 345.00 |
| Total Assets | 200.15 | 92.40 | 93.90 | 78.56 | 91.40 | 110.79 | 116.65 | 136.15 | 230.00 | 206.80 | 213.73 | 263.42 | 287.47 | 347.79 | 345.53 | 346.80 |
| Accounts Payable | 5.24 | 9.09 | 11.34 | 14.85 | 16.36 | 17.67 | 14.01 | 15.60 | 13.14 | 17.58 | 10.58 | 15.74 | 19.61 | 33.34 | -- | -- |
| Short-term Debt | -- | -- | -- | 16.91 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Current Liabilities | 24.65 | 26.62 | 37.57 | 42.74 | 43.89 | 63.40 | 48.55 | 60.86 | 98.95 | 35.69 | 37.73 | 53.52 | 56.23 | 70.74 | 3.46 | 1.54 |
| Long-term Debt | 8.17 | 9.17 | 23.02 | 22.48 | 21.66 | 32.25 | 33.50 | 44.00 | 80.50 | 22.49 | 12.62 | -- | -- | -- | -- | -- |
| Total Non-current Liabilities* | 28.96 | 14.25 | 26.18 | 14.28 | 14.62 | 12.70 | 15.98 | 29.84 | 28.10 | 60.51 | 54.06 | 27.31 | 181.64 | 154.88 | 37.18 | 37.70 |
| Total Liabilities | 53.61 | 40.86 | 63.74 | 57.02 | 58.52 | 76.10 | 64.53 | 90.70 | 127.05 | 96.21 | 91.79 | 80.83 | 237.87 | 225.62 | 40.64 | 39.25 |
| Retained Earnings | (516.65) | (505.14) | (481.33) | (469.50) | (455.74) | (408.38) | (385.52) | (385.35) | (296.64) | (279.25) | (256.04) | (167.26) | (295.21) | (215.44) | 2.34 | 14.32 |
| Total Stockholder Equity | 146.54 | 51.54 | 30.16 | 21.54 | 32.88 | 34.69 | 52.12 | 45.45 | 102.96 | 110.60 | 140.85 | 182.58 | 49.60 | 122.17 | 5.00 | 5.00 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q2
2026 | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 | Q2
2021 |
|---|
| Total Revenue | 20.66 | 13.82 | 9.44 | 13.64 | 13.57 | 9.32 | 12.63 | 8.25 | 10.34 | 9.79 | 1.69 | 23.81 | 25.13 | 29.78 | 26.81 | 19.64 | 12.22 | 10.41 | 8.71 | 0.00 |
| Cost of Revenue | 16.22 | 11.44 | 16.39 | 13.21 | 15.16 | 8.62 | 13.07 | 4.18 | 13.24 | 12.60 | 35.35 | 22.32 | 22.15 | 28.01 | 23.89 | 18.41 | 12.20 | 8.72 | 7.24 | -- |
| Gross Profit | 4.44 | 2.38 | (6.95) | 0.43 | (1.59) | 0.70 | (0.44) | 4.07 | (2.90) | (2.81) | (33.66) | 1.49 | 2.98 | 1.77 | 2.93 | 1.23 | 0.02 | 1.69 | 1.47 | -- |
| Research & Development | 4.33 | 2.70 | 3.55 | 3.04 | 2.85 | 1.21 | 3.08 | 4.44 | 4.55 | 5.04 | 9.21 | 9.82 | 12.45 | 7.83 | 10.55 | 12.97 | 12.92 | 7.92 | 7.99 | -- |
| Selling, General & Admin | 8.32 | 4.91 | 8.89 | 6.04 | 6.04 | 9.13 | 16.48 | 15.28 | 8.81 | 8.78 | 10.16 | 11.12 | 10.12 | 9.79 | 10.33 | 8.26 | 9.29 | 8.19 | 5.16 | 3.19 |
| Total Operating Expenses | 15.50 | 9.33 | 13.33 | 11.06 | 10.50 | 12.62 | 21.19 | 22.82 | 17.62 | 18.64 | 24.54 | 26.71 | 28.69 | 23.66 | 27.05 | 27.47 | 28.19 | 20.77 | 16.49 | -- |
| Operating Income | (11.06) | (6.95) | (20.28) | (10.63) | (12.09) | (11.92) | (21.63) | (18.74) | (20.52) | (21.45) | (58.20) | (25.22) | (25.71) | (21.89) | (24.12) | (26.24) | (28.17) | (38.11) | (15.02) | (3.19) |
| Interest Expense | -- | -- | -- | -- | -- | 1.07 | (4.34) | 10.95 | 5.46 | 3.90 | 8.05 | 1.11 | 0.34 | 0.01 | 0.22 | 0.09 | 0.14 | 1.11 | 0.99 | -- |
| Pretax Income | (11.52) | (6.97) | (20.34) | (11.84) | (13.67) | (25.40) | (21.97) | (22.86) | (0.18) | (28.31) | (58.34) | (17.40) | (23.20) | 22.61 | (36.20) | 127.95 | (65.34) | (14.43) | (66.58) | -- |
| Tax Provision | (0.01) | 0.03 | 0.03 | (0.01) | 0.09 | 0.01 | (0.02) | 0.00 | -0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | (11.51) | (7.00) | (20.37) | (11.82) | (13.76) | (25.41) | (21.95) | (22.86) | (0.17) | (28.31) | (58.34) | (17.40) | (23.20) | 22.61 | (36.20) | 127.95 | (65.34) | (53.94) | (66.58) | (2.66) |
| Basic EPS | (0.39) | (0.28) | (2.53) | (0.69) | (0.98) | (0.13) | (3.17) | (2.47) | (0.02) | (0.11) | (0.28) | (0.09) | (0.12) | 0.13 | (0.19) | 0.69 | (0.36) | 3.52 | (3.36) | -- |
| Diluted EPS | (0.39) | (0.28) | (2.53) | (0.69) | (0.98) | (0.13) | (3.17) | (2.47) | (0.02) | (0.11) | (0.28) | (0.09) | (0.12) | 0.19 | (0.19) | 0.63 | (0.36) | 3.52 | (3.36) | -- |
Cash Flow Statement
(in millions USD)| Metric | Q2
2026 | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 | Q2
2021 |
|---|
| Operating Cash Flow | (21.55) | (17.98) | (7.74) | (6.02) | (1.22) | (12.35) | (2.21) | (1.97) | (7.97) | (20.52) | (24.53) | (22.33) | (58.78) | (31.81) | (30.83) | (38.69) | (30.11) | (25.14) | (30.01) | (1.12) |
| Capital Expenditures | 3.52 | 0.94 | 0.60 | 0.31 | 1.80 | 0.00 | (0.02) | 0.02 | 0.00 | 0.01 | (0.03) | 0.38 | 0.69 | 1.59 | 0.40 | 4.52 | 4.06 | 8.09 | 1.53 | -- |
| Free Cash Flow* | (25.07) | (18.92) | (8.34) | (6.34) | (3.01) | (12.35) | (2.19) | (1.99) | (7.97) | (20.53) | (24.50) | (22.71) | (59.47) | (33.40) | (31.24) | (43.20) | (34.17) | (33.22) | (31.55) | -- |
| Investing Cash Flow | (3.52) | (0.94) | (0.60) | (0.31) | (1.80) | 0.00 | 1.12 | 0.68 | 2.47 | 3.49 | 7.84 | 5.46 | 25.60 | 21.49 | 20.96 | (22.09) | (72.71) | (25.14) | (8.45) | -- |
| Financing Cash Flow | 103.00 | (3.53) | 35.51 | 17.32 | 0.00 | 15.00 | 0.50 | 0.47 | 0.21 | 0.28 | (16.95) | 46.14 | 30.07 | 1.88 | 15.03 | (0.13) | (0.37) | (40.66) | 323.81 | 0.00 |
* Derived from reported values
