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Exhibit 99.1 Velo3D Announces Third Quarter 2021 Financial Results . • • • • • Completed merger transaction to become publicly traded company Strong revenue growth - 23 % sequential increase from Q2 Shipments up 50 % YTD - 15 in 2021 vs 10 in 2020 Strong third quarter bookings - 10 systems in Q3 vs 6 in Q2 • Market expansion into Europe – first system shipped to EU customer Sapphire XC development program on track – first customer parts printed in Q3 Significant backlog for 2022 - 17 XC firm orders , $ 85M total bookings / pre - orders CAMPBELL , Calif . , Nov. 9 , 2021 - Velo3D , Inc. ( NYSE : VLD ) , a leading additive manufacturing technology company for mission - critical metal parts , today announced financial results for its third quarter ended September 30 , 2021 . “ Our strong third quarter results reflect increasing demand for our industry changing end - to - end Sapphire solution which is redefining the production of high value metal parts for mission critical applications ” , said Benny Buller , CEO of Velo3D . “ We remain committed to helping our customers design and build the parts they need — without compromise . With the upcoming release of our Sapphire® XC solution , we intend to accelerate the deployment of the next generation technologies our customers are creating . " " One of the key highlights for the quarter was the closing of our merger with JAWS Spitfire . This merger was a huge milestone for the Company , enabling us to become a publicly traded company and generating approximately $ 274 million of net cash proceeds from the transaction . We believe we now have the liquidity to continue to invest in driving technology innovation while providing the resources needed to fund our future growth plans ” . “ Operationally , we were also pleased with our strong growth momentum as we exceeded our revenue target and posted very strong bookings for the quarter . Demand for our new Sapphire XC system continues to grow strongly with bookings of $ 40 million and pre - orders of $ 45 million at the end of October . We are also on plan for our first customer shipment of our Sapphire XC system by the end of the year . The third quarter also marked another strategic milestone for the Company as we shipped our first system to a European customer , expanding our footprint to a market that we believe offers significant long - term opportunity . Finally , we continue to invest for future growth as we build out our new manufacturing facility which we expect to open by the end of the year . We expect this expansion will be a key driver of our 2022 growth and will provide us with the capacity to meet our demand forecasts through 2024 " , continued Buller . " Given our industry leading technology , increasing demand from our diverse customer base , strong balance sheet and a focus on maintaining our commitment to quality , we believe we are well positioned for future growth as we continue to push the boundaries of what is achievable with metal additive manufacturing " , concluded Buller .