Velo3D, Inc. (VELO) Balance Sheet
VELO balance sheet, 2025
December 31, 2025 · U.S. dollars$105.3M assets = $67.2M liabilities + $38.2M equity
Both columns are drawn to the same scale: what VELO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
VELO financial health
Descriptive bands, not a rating. Fiscal 2025.
VELO balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $21.6M2019 | $105.3M2025 | +30.2%/yr | |
| Total liabilities | $20.6M2019 | $67.2M2025 | +21.8%/yr | |
| Shareholders’ equity | $1.0M2019 | $38.2M2025 | +82.4%/yr | |
| Cash & short-term investments | $9.8M2019 | $40.7M2025 | +26.8%/yr | |
| Total debt | $8.3M2019 | $40.2M2025 | +30.1%/yr | |
| Net cash (debt) | $1.5M2019 | $513,0002025 | −$1.0M | |
| Working capital | $6.5M2019 | $45.2M2025 | +$38.7M | |
| Book value per share | $0.072019 | $2.312025 | +80.8%/yr | |
| Current ratio | 1.532019 | 2.342025 | +0.81 | |
| Debt / equity | 8.012019 | 1.052025 | −6.95 | |
| Shares outstanding | 15.6M2019 | 16.5M2025 | +0.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
VELO assets
VELO liabilities and equity
VELO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
VELO balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $40.7M | $1.2M | $31.1M | $80.2M | $223.1M | $15.5M | $9.8M |
| Cash & equivalents | $39.0M | $1.2M | $24.5M | $32.0M | $207.6M | $15.5M | $9.8M |
| Short-term investments | $1.7M | $0 | $6.6M | $48.2M | $15.5M | — | — |
| Receivables | $8.3M | $4.2M | $22.2M | $14.6M | $13.1M | $4.3M | $2.5M |
| Inventory | $27.1M | $50.0M | $60.8M | $71.2M | $22.5M | $7.3M | $4.6M |
| Other current assets | $2.8M | $2.3M | $4.0M | $5.5M | $9.5M | $807,000 | $1.9M |
| Total current assets | $79.0M | $57.7M | $118.1M | $171.5M | $268.1M | $27.9M | $18.8M |
| Property, plant & equipment (net) | $14.7M | $26.7M | $33.7M | $42.4M | $18.4M | $3.9M | $2.6M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $2.7M | $0 | $5.9M | $0 | $0 | $0 |
| Other non-current assets | $11.7M | $2.0M | $2.0M | $3.2M | $16.2M | $932,000 | $223,000 |
| Total assets | $105.3M | $89.2M | $153.8M | $223.1M | $302.7M | $32.7M | $21.6M |
| Liabilities | |||||||
| Accounts payable | $10.3M | $18.5M | $15.9M | $12.2M | $9.9M | $1.2M | $1.7M |
| Short-term debt | $8.4M | $7.4M | $23.5M | $5.2M | $7.4M | $4.2M | $145,000 |
| Deferred revenue | $11.5M | $10.3M | $5.1M | $15.2M | $22.3M | $4.7M | — |
| Total current liabilities | $33.8M | $38.0M | $48.7M | $46.1M | $46.7M | $12.1M | $12.3M |
| Long-term debt | $24.7M | $0 | $11.9M | $5.4M | $3.0M | $0 | $0 |
| Lease obligations | $9.2M | $10.3M | $12.4M | $14.7M | $11.4M | — | — |
| Other long-term liabilities | $8.7M | $11.5M | $24.8M | $32.8M | $142.7M | $128.4M | $8.3M |
| Total liabilities | $67.2M | $49.5M | $85.5M | $84.3M | $192.3M | $140.5M | $20.6M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $5,000 | $4,000 | $2,000 | $2,000 | $2,000 | $1,000 | $1,000 |
| Retained earnings (deficit) | −$498.1M | −$426.8M | −$357.0M | −$221.9M | −$229.9M | −$122.8M | −$114.0M |
| Accumulated other comprehensive income | — | — | −$96,000 | −$837,000 | −$14,000 | −$123.7M | — |
| Total shareholders' equity | $38.2M | $39.7M | $68.3M | $138.8M | $110.4M | −$107.8M | $1.0M |
| Key figures | |||||||
| Total debt | $40.2M | $15.9M | $45.6M | $22.8M | $19.5M | $8.7M | $8.3M |
| Net cash (debt) | $513,000 | −$14.7M | −$14.5M | $57.3M | $203.6M | $6.8M | $1.5M |
| Working capital | $45.2M | $19.7M | $69.5M | $125.5M | $221.4M | $15.8M | $6.5M |
| Tangible book value | $38.2M | $39.7M | $68.3M | $138.8M | $110.4M | −$107.8M | $1.0M |
| Book value per share | $2.31 | — | — | — | — | — | $0.07 |
| Shares outstanding | 16.5M | — | — | — | — | — | 15.6M |
| Current ratio | 2.34 | 1.52 | 2.43 | 3.72 | 5.75 | 2.30 | 1.53 |
| Quick ratio | 1.45 | 0.14 | 1.10 | 2.06 | 5.06 | 1.63 | 1.00 |
| Debt / equity | 1.05 | 0.40 | 0.67 | 0.16 | 0.18 | — | 8.01 |
| Equity / assets | 36.2% | 44.5% | 44.4% | 62.2% | 36.5% | −329.8% | 4.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $91.1M | $16.6M | $40.7M | $11.8M | $854,000 | $3.9M | $1.2M | $1.6M | $3.2M | $10.9M | $31.1M | $71.6M |
| Cash & equivalents | $91.1M | $16.6M | $39.0M | $11.8M | $854,000 | $3.9M | $1.2M | $1.6M | $2.5M | $7.8M | $24.5M | $58.1M |
| Short-term investments | $0 | $1.5M | $1.7M | — | — | — | $0 | $0 | $699,000 | $3.2M | $6.6M | $13.5M |
| Receivables | $20.5M | $12.3M | $8.3M | $10.1M | $5.4M | $4.6M | $4.2M | $14.2M | $17.2M | $21.6M | $17.1M | $28.5M |
| Inventory | $27.6M | $28.1M | $27.1M | $35.4M | $38.4M | $46.1M | $62.0M | $62.0M | $59.5M | $62.8M | $60.8M | $81.2M |
| Other current assets | $16.9M | $8.2M | $2.8M | $1.8M | $4.2M | $7.2M | $0 | $1.9M | $2.3M | $3.1M | $4.0M | $2.5M |
| Total current assets | $156.1M | $65.2M | $79.0M | $59.2M | $48.9M | $61.8M | $57.7M | $79.8M | $82.2M | $98.3M | $113.0M | $183.8M |
| Property, plant & equipment (net) | $17.2M | $17.4M | $14.7M | $15.4M | $18.2M | $13.7M | $13.2M | $25.0M | $27.9M | $31.0M | $33.7M | $36.0M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $2.0M | $2.2M | $2.5M | $2.7M | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $26.8M | $9.8M | $11.7M | $17.3M | $9.2M | $13.5M | $15.6M | $6.0M | $6.5M | $6.8M | $7.1M | $10.2M |
| Total assets | $200.1M | $92.4M | $105.3M | $93.9M | $78.6M | $91.4M | $89.2M | $110.8M | $116.7M | $136.1M | $153.8M | $230.0M |
| Liabilities | ||||||||||||
| Accounts payable | $5.2M | $9.1M | $10.3M | $11.3M | $14.9M | $16.4M | $18.5M | $17.7M | $14.0M | $15.6M | $15.9M | $13.1M |
| Short-term debt | $3.2M | $5.2M | $8.4M | $7.4M | $16.9M | $16.2M | $7.4M | $31.5M | $26.6M | $36.4M | $23.5M | $54.5M |
| Deferred revenue | — | $10.7M | $11.5M | $15.8M | $6.7M | $7.6M | $10.3M | $10.8M | $4.1M | $4.7M | — | $4.8M |
| Total current liabilities | $24.6M | $26.6M | $33.8M | $37.6M | $42.7M | $43.9M | $38.0M | $63.4M | $48.6M | $60.9M | $48.7M | $98.9M |
| Long-term debt | $5.0M | $6.0M | $24.7M | $17.7M | $5.6M | $5.5M | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $22.6M | $8.7M | $9.2M | $9.5M | $9.3M | $9.8M | $10.3M | $10.8M | $11.3M | — | — | — |
| Other long-term liabilities | $24.0M | $8.2M | $8.7M | $8.5M | $8.7M | $9.1M | $11.5M | $12.7M | $16.0M | $29.8M | $36.8M | $28.1M |
| Total liabilities | $53.6M | $40.9M | $67.2M | $63.7M | $57.0M | $58.5M | $49.5M | $76.1M | $64.5M | $90.7M | $85.5M | $127.0M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $5,000 | $5,000 | $5,000 | $5,000 | $4,000 | $4,000 | $4,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
| Retained earnings (deficit) | −$516.7M | −$505.1M | −$498.1M | −$481.3M | −$469.5M | −$455.7M | −$426.8M | −$408.4M | −$385.5M | −$385.4M | −$357.0M | −$296.6M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | −$2,000 | −$44,000 | −$96,000 | −$252,000 |
| Total shareholders' equity | $146.5M | $51.5M | $38.2M | $30.2M | $21.5M | $32.9M | $39.7M | $34.7M | $52.1M | $45.5M | $68.3M | $103.0M |
| Key figures | ||||||||||||
| Total debt | $3.2M | $17.8M | $40.2M | $32.5M | $16.9M | $16.2M | $15.9M | $40.4M | $35.9M | $48.2M | $45.6M | $65.1M |
| Net cash (debt) | $87.9M | −$1.3M | $513,000 | −$20.7M | −$16.1M | −$12.3M | −$14.7M | −$38.7M | −$32.8M | −$37.3M | −$14.5M | $6.5M |
| Working capital | $131.5M | $38.6M | $45.2M | $21.6M | $6.2M | $17.9M | $19.7M | $16.4M | $33.6M | $37.5M | $64.4M | $84.8M |
| Tangible book value | $146.5M | $51.5M | $38.2M | $30.2M | $21.5M | $32.9M | $39.7M | $34.7M | $52.1M | $45.5M | $68.3M | $103.0M |
| Book value per share | $4.98 | $2.06 | $1.79 | $1.76 | $1.53 | $2.45 | — | — | — | — | — | — |
| Shares outstanding | 29.4M | 25.0M | 21.3M | 17.1M | 14.0M | 13.4M | — | — | — | — | — | — |
| Current ratio | 6.33 | 2.45 | 2.34 | 1.57 | 1.14 | 1.41 | 1.52 | 1.26 | 1.69 | 1.62 | 2.32 | 1.86 |
| Quick ratio | 4.53 | 1.09 | 1.45 | 0.58 | 0.15 | 0.19 | 0.14 | 0.25 | 0.42 | 0.53 | 0.99 | 1.01 |
| Debt / equity | 0.02 | 0.35 | 1.05 | 1.08 | 0.79 | 0.49 | 0.40 | 1.16 | 0.69 | 1.06 | 0.67 | 0.63 |
| Equity / assets | 73.2% | 55.8% | 36.2% | 32.1% | 27.4% | 36.0% | 44.5% | 31.3% | 44.7% | 33.4% | 44.4% | 44.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
VELO financial position
At the end of fiscal 2025 (December 31, 2025), Velo3D had total assets of $105.3 million (up 18.1% from a year earlier), total liabilities of $67.2 million and shareholders' equity of $38.2 million. It held $40.7 million in cash and short-term investments against $40.2 million of debt, a net cash position of $0.5 million. Its current ratio was 2.34. In the latest quarter (ended June 30, 2026) total assets were $200.1 million and equity $146.5 million.
Related: VELO income statement, VELO cash flow statement, VELO key metrics. See the VELO stock overview for the latest quote and news.
VELO balance sheet FAQ
What are Velo3D's total assets?
Velo3D reported total assets of $105.3 million at the end of fiscal 2025 (December 31, 2025), compared with $89.2 million a year earlier.
How much debt does Velo3D have?
Velo3D had $40.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.05.
How much cash does Velo3D have?
Velo3D held $40.7 million in cash and short-term investments at the end of fiscal 2025; with $40.2 million of debt that is net cash of $0.5 million.
What is Velo3D's book value?
Velo3D's shareholders' equity (book value) was $38.2 million at the end of fiscal 2025, or $2.31 per share.
What is Velo3D's current ratio?
Velo3D had current assets of $79.0 million and current liabilities of $33.8 million, a current ratio of 2.34 (it can cover its short-term obligations).