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3D printer manufacturer Velo3D (VLD) has announced a 119.5% revenue rise in its Q3 2022 financial results.
Over Q3 2022, Velo3D generated $19.1 million in revenue, a substantial increase on the $8.7 million it brought in during Q3 2021, but 2.6% less than the $19.6 million it reported in Q2 2022. The firm says its year-on-year growth was driven by increased system sales and a more favorable product mix, which drove its average sale upwards, but shipping issues caused it to suffer a sequential quarterly dip.
“Our third quarter performance reflects solid execution as we again posted strong year over year revenue growth, increased our sizeable backlog and expanded our new and existing customer footprint,” said Velo3D CEO Benny…
