Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 5/5 core metricsLatest reported free cash flow was -$30M.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Free cash flow was negative
Latest reported free cash flow was -$30M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
- 4 filing risk checks flagged
Flagged areas: Earnings quality, Solvency & liquidity, Dilution.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +12.1% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- Operating margin improved
Operating margin changed +72.7 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Earnings quality
- Solvency & liquidity
- Dilution
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- A3 D Printer And Parts$39.2M85.2%+54.5% yoy
- Support Services$6.2M13.5%-35.3% yoy
- Other$524K1.1%-89.5% yoy
- Recurring Payment$70K0.2%-93.4% yoy
Members sum to the consolidated $46M for this period.
- Americas$39.9M86.8%0.0% yoy
- Europe$4.49M9.8%+435.5% yoy
- Other Locations$1.58M3.4%+516.8% yoy
Members sum to the consolidated $46M for this period.
- A3 D Printer And Parts$12M87.0%+59.8% yoy
- Support Services$1.27M9.2%-29.1% yoy
- Other$526K3.8%+7414.3% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,122 US-listed filers · 817 in Technology| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $46M | 21stof 3,301 bottom third | 18thof 778 bottom third |
Gross margin gross profit ÷ revenue | -16.1% | 2ndof 1,603 bottom third | 3rdof 555 bottom third |
Operating margin operating income ÷ revenue | -119.5% | 15thof 2,819 bottom third | 11thof 752 bottom third |
Net margin net income ÷ revenue | -155.2% | 13thof 3,263 bottom third | 10thof 770 bottom third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | -65.3% | 14thof 2,679 bottom third | 10thof 701 bottom third |
Return on equity net income ÷ stockholders' equity (positive equity only) | -187.0% | 6thof 3,577 bottom third | 6thof 720 bottom third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 20.7% | 16thof 2,895 bottom third | 13thof 729 bottom third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 50 days | 50thof 2,398 middle third | 65thof 712 middle third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -44.3% | 96thof 3,577 top third | 95thof 722 top third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 71 changed periods, 22 largest shown| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Stockholders' equity StockholdersEquity | balance at 2020-09-30 | $20K 10-Q 2021-01-15 | -$104M 10-Q 2021-11-16 | -519320.0% | first · latest |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2021-06-30 | $145K 10-Q 2021-08-13 | $13.1M 10-Q 2022-08-12 | +8955.1% | first · latest |
| Stockholders' equity StockholdersEquity | balance at 2021-06-30 | $5M 10-Q 2021-08-13 | -$132M 10-Q 2022-11-14 | -2748.3% | first · latest · 4 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2021-03-31 | $5M 10-Q 2021-05-24 | -$121M 10-Q 2022-08-12 | -2518.9% | first · latest · 4 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2020-12-31 | $5M 10-K 2021-03-30 | -$108M 10-K 2023-03-20 | -2256.4% | first · latest · 10 filings carry it |
| Operating cash flow NetCashProvidedByUsedInOperatingActivities | quarter 2021-03-31 | -$134K 10-Q 2021-05-24 | -$2.64M 10-Q 2022-05-16 | -1869.9% | first · latest |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2021-03-31 | $1.27M 10-Q 2021-05-24 | $15.9M 10-Q 2022-05-16 | +1154.3% | first · latest |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2020-12-31 | $1.67M 10-K 2021-03-30 | $15.5M 10-K 2022-03-28 | +830.5% | first · latest · 6 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2021-03-31 | -$1.44M 10-Q 2021-05-24 | -$11.9M 10-Q 2022-05-16 | -725.2% | first · latest |
| Net income NetIncomeLoss | quarter 2024-06-30 | -$172K 10-Q 2024-08-14 | $935K 10-K 2026-03-31 | +643.6% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2021-06-30 | -$2.66M 10-Q 2021-08-13 | -$12.5M 10-Q 2022-08-12 | -371.3% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2021-06-30 | -$3.19M 10-Q 2021-08-13 | -$11.8M 10-Q 2022-08-12 | -269.1% | first · latest |
| Net income NetIncomeLoss | quarter 2021-03-31 | $16.1M 10-Q 2021-05-24 | -$13.5M 10-Q 2022-05-16 | -184.2% | first · latest · 3 filings carry it |
| Interest expense InterestExpense | quarter 2023-09-30 | $1.11M 10-Q 2023-11-20 | $3.02M 10-Q 2025-01-14 | +172.6% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | fiscal year 2023-12-31 | 197,358,751 shares 10-K 2024-04-03 | 5,638,821 shares 10-K 2025-03-31 | -97.1% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2024-03-31 | 260,294,161 shares 10-Q 2024-05-15 | 7,436,976 shares 10-Q 2025-05-15 | -97.1% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | fiscal year 2023-12-31 | 197,358,751 shares 10-K 2024-04-03 | 5,638,821 shares 10-K 2025-03-31 | -97.1% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2024-03-31 | 260,294,161 shares 10-Q 2024-05-15 | 7,436,976 shares 10-Q 2025-05-15 | -97.1% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2023-06-30 | 193,917,908 shares 10-Q 2023-08-15 | 5,659,601 shares 10-Q 2024-08-14 | -97.1% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2023-09-30 | 197,833,109 shares 10-Q 2023-11-20 | 5,771,465 shares 10-Q 2025-01-14 | -97.1% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2023-06-30 | 193,917,908 shares 10-Q 2023-08-15 | 5,659,601 shares 10-Q 2024-08-14 | -97.1% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2023-09-30 | 197,833,109 shares 10-Q 2023-11-20 | 5,771,465 shares 10-Q 2025-01-14 | -97.1% | first · latest |
8 share-count periods re-presented for a stock split (1-for-15) are listed apart from restatements and not counted above.
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for VELO yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.