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elo3D Gains on Millions in Orders

Velo3D, Inc. (NYSE: VLD) shares moved into positive country Thursday, as the additive manufacturing technology company for mission-critical metal parts, today announced it has received purchase orders totaling $27 million since mid-December 2023. These orders include the purchase of 2 Sapphire XC systems by Mears Machine, a leading global contract manufacturer, where the systems will be dedicated to supplying parts for their defense and aerospace initiatives. The company ended the first quarter of 2024 with bookings of $17 million and the company’s backlog at the end of the first quarter was $23 million, with system deliveries expected to start in the second quarter of 2024.