Velo3D Inc Velo3D Inc (VELO) just gave investors a quarterly report that was better than expected, and then sketched out a vision for the next ten years. It's the kind of update that makes you sit up and take notice.

For the fourth quarter, the additive manufacturing company posted revenue of $9.44 million. That beat the consensus estimate of $8.68 million. On the bottom line, the adjusted loss came in at 54 cents per share, which was also a beat against the expected loss of 56 cents per share, according to market data.

Now, the revenue from 3D printers and parts did dip by 5% compared to the same quarter last year. The company says that was due to the mix of products sold and the number of systems that went out the door. Looking ahead, system sales are still expected to be the main engine for revenue in 2026, but the company's parts production business—called Rapid Production Solutions—is supposed to chip in a growing share.

Perhaps more exciting than the quarterly beat is the momentum the company says it's carrying into the new year. The backlog of orders grew to $31 million as of December 31, 2025. And in a significant move to clean up the balance sheet, Velo3D completed a $15 million debt-to-equity conversion during the quarter, which chopped its total debt down by about 60%. It finished the period with $39 million in total cash and equivalents.

"We set a new record for bookings in the fourth quarter, and with a robust backlog, we entered 2026 with tremendous momentum," said CEO Arun Jeldi.

That momentum is fueling some big plans. The company provided its outlook for the full year 2026, guiding for revenue in the range of $60 million to $70 million. Wall Street was looking for about $62.70 million, so the high end of that range would be a nice beat. Crucially, Velo3D said it expects to be EBITDA positive in the second half of 2026.

But Jeldi didn't stop there. He laid out a truly long-term vision. "Based on current demand trajectories and our expanding program portfolio, we have developed a long-term capacity plan envisioning up to approximately 400 production systems, ramping over the next decade," he said. That's a massive scale-up, though he was careful to note it's "subject to securing additional financing and continued program growth."

So, the story here is a beat, a stronger balance sheet, a solid guide for this year, and a very ambitious dream for the next ten. Investors seemed to be digesting all that news after the bell. Velo3D shares were essentially flat in after-hours trading, down just 0.22% to $13.49. The company's executives will have a chance to provide more color on the earnings call scheduled for 5 p.m. ET.