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Side-by-side financial comparison of Velo3D, Inc. (VELO) and X3 Holdings Co., Ltd. (XTKG). Click either name above to swap in a different company.
Velo3D, Inc. is the larger business by last-quarter revenue ($9.4M vs $5.0M, roughly 1.9× X3 Holdings Co., Ltd.). X3 Holdings Co., Ltd. produced more free cash flow last quarter ($-1.7M vs $-8.3M).
Velo3D, Inc. develops and sells advanced end-to-end metal additive manufacturing (3D printing) solutions, comprising industrial-grade printers, specialized processing software, and high-performance metal materials. It primarily serves global aerospace, defense, energy, semiconductor and industrial manufacturing markets, enabling customers to produce complex, high-precision metal parts that are difficult to manufacture with traditional methods.
VELO vs XTKG — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $9.4M | $5.0M |
| Net Profit | $-21.9M | — |
| Gross Margin | -73.6% | — |
| Operating Margin | -231.0% | — |
| Net Margin | -231.9% | — |
| Revenue YoY | -25.2% | — |
| Net Profit YoY | -2.9% | — |
| EPS (diluted) | $-0.87 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $9.4M | — | ||
| Q3 25 | $13.6M | — | ||
| Q2 25 | $13.6M | $5.0M | ||
| Q1 25 | $9.3M | — | ||
| Q4 24 | $12.6M | — | ||
| Q3 24 | $8.2M | — | ||
| Q2 24 | $10.3M | $6.6M | ||
| Q1 24 | $9.8M | — |
| Q4 25 | $-21.9M | — | ||
| Q3 25 | $-11.2M | — | ||
| Q2 25 | $-13.3M | — | ||
| Q1 25 | $-25.0M | — | ||
| Q4 24 | $-21.3M | — | ||
| Q3 24 | $-21.9M | — | ||
| Q2 24 | $935.0K | $-57.6M | ||
| Q1 24 | $-27.5M | — |
| Q4 25 | -73.6% | — | ||
| Q3 25 | 3.2% | — | ||
| Q2 25 | -11.7% | — | ||
| Q1 25 | 7.5% | — | ||
| Q4 24 | -3.5% | — | ||
| Q3 24 | 49.4% | — | ||
| Q2 24 | -28.0% | 28.0% | ||
| Q1 24 | -28.8% | — |
| Q4 25 | -231.0% | — | ||
| Q3 25 | -73.3% | — | ||
| Q2 25 | -85.4% | — | ||
| Q1 25 | -123.6% | — | ||
| Q4 24 | -167.0% | — | ||
| Q3 24 | -213.8% | — | ||
| Q2 24 | -187.7% | -219.1% | ||
| Q1 24 | -211.1% | — |
| Q4 25 | -231.9% | — | ||
| Q3 25 | -82.0% | — | ||
| Q2 25 | -97.7% | — | ||
| Q1 25 | -268.4% | — | ||
| Q4 24 | -168.5% | — | ||
| Q3 24 | -265.3% | — | ||
| Q2 24 | 9.0% | -874.1% | ||
| Q1 24 | -281.2% | — |
| Q4 25 | $-0.87 | — | ||
| Q3 25 | $-0.65 | — | ||
| Q2 25 | $-0.94 | — | ||
| Q1 25 | $-1.87 | — | ||
| Q4 24 | $7.06 | — | ||
| Q3 24 | $-35.52 | — | ||
| Q2 24 | $1.65 | — | ||
| Q1 24 | $-55.51 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $39.0M | $2.6M |
| Total DebtLower is stronger | $31.0M | — |
| Stockholders' EquityBook value | $38.2M | $42.6M |
| Total Assets | $105.3M | $71.7M |
| Debt / EquityLower = less leverage | 0.81× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $39.0M | — | ||
| Q3 25 | $11.8M | — | ||
| Q2 25 | $854.0K | $2.6M | ||
| Q1 25 | $3.9M | — | ||
| Q4 24 | $1.2M | — | ||
| Q3 24 | $1.6M | — | ||
| Q2 24 | $3.2M | $1.5M | ||
| Q1 24 | $10.9M | — |
| Q4 25 | $31.0M | — | ||
| Q3 25 | $23.0M | — | ||
| Q2 25 | $22.5M | — | ||
| Q1 25 | $21.7M | — | ||
| Q4 24 | $5.7M | — | ||
| Q3 24 | $32.3M | — | ||
| Q2 24 | $33.5M | — | ||
| Q1 24 | $44.0M | — |
| Q4 25 | $38.2M | — | ||
| Q3 25 | $29.9M | — | ||
| Q2 25 | $21.4M | $42.6M | ||
| Q1 25 | $32.8M | — | ||
| Q4 24 | $39.7M | — | ||
| Q3 24 | $34.4M | — | ||
| Q2 24 | $52.1M | $125.5M | ||
| Q1 24 | $45.5M | — |
| Q4 25 | $105.3M | — | ||
| Q3 25 | $93.7M | — | ||
| Q2 25 | $78.4M | $71.7M | ||
| Q1 25 | $91.3M | — | ||
| Q4 24 | $89.2M | — | ||
| Q3 24 | $110.8M | — | ||
| Q2 24 | $116.7M | $171.3M | ||
| Q1 24 | $136.1M | — |
| Q4 25 | 0.81× | — | ||
| Q3 25 | 0.77× | — | ||
| Q2 25 | 1.05× | — | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | 0.94× | — | ||
| Q2 24 | 0.64× | — | ||
| Q1 24 | 0.97× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-7.7M | $-1.1M |
| Free Cash FlowOCF − Capex | $-8.3M | $-1.7M |
| FCF MarginFCF / Revenue | -88.3% | -34.1% |
| Capex IntensityCapex / Revenue | 6.4% | 12.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-7.7M | — | ||
| Q3 25 | $-6.0M | — | ||
| Q2 25 | $-1.2M | $-1.1M | ||
| Q1 25 | $-12.3M | — | ||
| Q4 24 | $-2.2M | — | ||
| Q3 24 | $-2.0M | — | ||
| Q2 24 | $-8.0M | $-7.0M | ||
| Q1 24 | $-20.5M | — |
| Q4 25 | $-8.3M | — | ||
| Q3 25 | $-6.3M | — | ||
| Q2 25 | $-3.0M | $-1.7M | ||
| Q1 25 | — | — | ||
| Q4 24 | $-2.2M | — | ||
| Q3 24 | $-2.0M | — | ||
| Q2 24 | $-8.0M | $-7.0M | ||
| Q1 24 | $-20.5M | — |
| Q4 25 | -88.3% | — | ||
| Q3 25 | -46.5% | — | ||
| Q2 25 | -22.2% | -34.1% | ||
| Q1 25 | — | — | ||
| Q4 24 | -17.7% | — | ||
| Q3 24 | -24.2% | — | ||
| Q2 24 | -77.1% | -106.9% | ||
| Q1 24 | -209.8% | — |
| Q4 25 | 6.4% | — | ||
| Q3 25 | 2.3% | — | ||
| Q2 25 | 13.3% | 12.1% | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.0% | 0.3% | ||
| Q1 24 | 0.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -8.52× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
VELO
Segment breakdown not available.
XTKG
| Consulting and technical support services | $2.4M | 48% |
| Other | $1.5M | 30% |
| Application development services | $884.5K | 18% |
| Subscription services | $215.4K | 4% |
