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Velo3D Announces First Quarter 2026 Financial Results

Published

5 months ago

on

Revenue of $13.8 million, up 48% year-over-yearGross margin of 17.2%Reaffirms outlook for 2026 revenue between $60 million and $70 million and to turn EBITDA positive in the second half of 2026

FREMONT, Calif., May 12, 2026 /PRNewswire/ — Velo3D, Inc. (Nasdaq: VELO) (“Velo3D” or the “Company”), a leader in additive manufacturing (“AM”) technology known for transforming aerospace and defense supply chains through world-class metal AM, today announced financial results for its first quarter ended March 31, 2026. 

Recent Business Developments

Awarded a $9.8 million, five-year Indefinite Delivery Indefinite Quantity (IDIQ) contract supporting the Defense Logistics Agency’s (DLA) Joint Additive Manufacturing Acceptability (JAMA) Pilot Parts Program, an initiative aimed at accelerating adoption of additively manufactured components across Department of War sustainment operations.Appointed Jim Suva as Chief Financial Officer.Closed a firm commitment underwritten registered direct offering in April 2026 of 3,571,428 shares of common stock, with gross proceeds of approximately $50 million. 

“For the first quarter, we delivered a strong start to 2026 with revenue up 48% year‑over‑year, reflecting recent sales momentum and disciplined execution across our end markets,” said Arun Jeldi, CEO of Velo3D. “Importantly, we achieved positive gross margin this quarter, a key inflection point that validates our operating model as we scale production and continue to drive cost efficiency. With a robust pipeline of opportunities, we believe we have a solid foundation for continued growth.”

“Demand remains particularly strong in defense and aerospace, where customers are prioritizing scalable, high‑performance additive manufacturing solutions. To support this demand and accelerate our expansion, we completed a successful equity offering in April, securing additional capital to invest in talent and operational infrastructure. We believe our competitive position is strengthening as we deepen customer relationships and expand into new programs. We remain focused on executing our expansion plans to capture these opportunities and drive long‑term value creation.”

($ in Millions, except percentages and per-share data)

1st Quarter 2026

1st Quarter 2025

GAAP revenue

$13.8

$9.3

GAAP gross margin

17.2 %

7.5 %

GAAP net loss1

($7.0)

($25.0)

GAAP net loss per share  – basic and diluted

($0.28)

($1.87)

Non-GAAP net loss1,2

($5.1)

($9.0)

Non-GAAP net loss per share  – basic and diluted1,2

($0.20)

($0.67)

Information about Velo3D’s use of non-GAAP information, including a reconciliation to accounting principles generally accepted in the United States of America (“GAAP”), is provided at the end of this release under “Non-GAAP Financial Information”. The non-GAAP financial measures presented in this release should not be considered as the sole measure of the Company’s performance and should not be considered in isolation from, or as a substitute for, comparable financial measures calculated in accordance with GAAP.

Non-GAAP net loss and non-GAAP net loss per basic and diluted share exclude stock-based compensation expense, loss on warrant cancellation, fair value adjustments for the Company’s warrants and earnout liabilities, impairment of equipment subject to operating lease, and non-routine inventory adjustments for excess and obsolete inventory.

Summary of First Quarter 2026 Results 

Total Revenue was $13.8 million. 3D Printer and parts revenue increased 60% compared to the first quarter of 2025, driven by an increase in the average selling price, number of systems sold, and an increase in RPS revenues. While system sales are expected to remain the primary driver of revenue in 2026, the Company anticipates that, under its new go-to-market strategy, its RPS parts production business will contribute an increasing share of revenue. 

Gross margin for the first quarter was 17.2% compared to 7.5% in the first quarter of 2025. This change was primarily driven by the higher average selling price of Sapphire XC systems and increased RPS volume.

Operating expenses for the first quarter were $9.3 million compared to $12.2 million in the first quarter of 2025. Non-GAAP adjusted operating expenses, excluding stock-based compensation recorded in operating expenses of $1.2 million, were $8.1 million, down from $8.8 million in the first quarter of 2025. 

GAAP net loss for the first quarter was ($7.0) million compared to ($25.0) million in the first quarter of 2025. Non-GAAP net loss for the first quarter was ($5.1) million compared to ($9.0) million in the three months ended March 31, 2025. Adjusted EBITDA for the first quarter was ($3.6) million compared to ($6.9) million in the first quarter of 2025. For more information regarding the Company’s non-GAAP financial measures, see “Non-GAAP Financial Information” below.

As of March 31, 2026, the Company had $16.6 million of cash and cash equivalents, compared to $39.0 million as of December 31, 2025. As of March 31, 2026, the Company had $12 million in new bookings and ending backlog of $30 million.

“On April 27, 2026, the Company closed a firm commitment underwritten registered direct offering of 3,571,428 shares of its common stock, with gross proceeds of approximately $50 million,” said Jim Suva, CFO of Velo3D. “During the first quarter of 2026, the Company also completed debt-to-equity conversions totaling principal of $15 million, including $5 million converted at a premium to the Company’s share price on the date of conversion, and full repayment of the secured notes. As a result, we reduced our outstanding debt by approximately 70% to approximately $9 million.”

Guidance

Management reiterates expectations for the full year 2026 to include:

Revenue in the range of $60 million to $70 million.Sequential improvement in gross margin.Greater than 30% gross margin in second half of 2026.Non-GAAP adjusted operating expenses in the range of $45 million to $55 million.Capital expenditures in the range of $40 million to $50 million, primarily for RPS expansion, subject to the availability of sufficient financing.Positive EBITDA in the second half of 2026.

Conference Call

The Company will host a conference call for investors to discuss its first quarter 2026 financial results at 5 p.m. Eastern time / 2 p.m. Pacific time on May 12, 2026. The call will be webcast and can be accessed from the Events page of the Investor Relations section of Velo3D’s website at ir.velo3d.com.

About Velo3D:

Velo3D is a metal 3D printing technology company that enables customers to build mission-critical metal parts. The fully integrated solution includes the Flow print preparation software, the Sapphire® family of printers, and the Assure quality control system—all of which are powered by Velo3D’s Intelligent Fusion® manufacturing process.

Amounts herein pertaining to the Company’s first quarter ended March 31, 2026 results represent a preliminary estimate as of the date of this earnings release and may be revised upon filing of our Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission (the “SEC”). Additional information on our results of operations for the three months ended March 31, 2026 will be provided upon the filing of our Quarterly  Report on Form 10-Q with the SEC.

Forward-Looking Statements:

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “may”, “will”, “could”, “should”, “believes”, “predicts”, “potential”, “continue”, and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s guidance for fiscal year 2026 (including the Company’s estimates for revenue, gross margin, operating expenses, and capital expenditures), the Company’s expectations regarding its ability to achieve positive EBITDA in the second half of 2026,  the Company’s expectations about future demand, growth, profitability, long-term value, capacity requirements and operational efficiencies, scaled production, pipeline of opportunities, customer priorities, positive gross margins, the Company’s expectations regarding its liquidity and capital requirements, including plans to raise additional capital to support its expansion and the potential sources and uses of that capital, the Company’s expectations regarding its potential cost savings, the Company’s expectations about its market strategy and financial and operational position, the Company’s expectations that the RPS parts production business will contribute an increasing share of revenue, and the Company’s other expectations, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “FY 2025 10-K”) and its Quarterly Reports on Form 10-Q (“Quarterly Reports”) and the other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the inability of the Company to execute its business plan, which may be affected by, among other things, competition, the Company’s liquidity position/lack of available cash, the ability of the Company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its key employees; (2) the Company’s ability to continue as a going concern; (3) the Company’s ability to service and comply with its indebtedness; (4) the Company’s ability to raise additional capital in the near-term; (5) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (6) changes in the applicable laws and regulations; (7) risks related to the Company’s exposure to government and defense contracts, including potential delays or reductions in government funding, government shutdowns, changes in defense procurement priorities or spending levels, and the timing and uncertainty of government contract awards and modifications; and (8) other risks and uncertainties described in the FY 2025 10-K and the Quarterly Reports, including those under “Risk Factors” therein, and in the Company’s other filings with the SEC. The Company cautions that the foregoing list of factors is not exclusive and not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by applicable law.

Non-GAAP Financial Information

The information in the table below sets forth the non-GAAP financial measures that the Company uses in this release. Because of the inherent limitations associated with these non-GAAP financial measures, “Non-GAAP Net Loss”, “Non-GAAP net loss per basic and diluted share”, “EBITDA”, “Adjusted EBITDA” and “Non-GAAP Adjusted Operating Expenses”, should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. In addition, these non-GAAP financial measures may differ from, and should not be compared to, similarly named measures used by other companies. The Company compensates for these limitations by relying primarily on its GAAP results and using Non-GAAP Net Loss, Non-GAAP net loss per basic and diluted share, EBITDA, Adjusted EBITDA, and Non-GAAP Adjusted Operating Expenses on a supplemental basis. You should review the reconciliation of the non-GAAP financial measures below and not rely on any single financial measure to evaluate the Company’s business.

Management believes adjusted “Non-GAAP Net Loss”, “Non-GAAP net loss per basic and diluted share”, “EBITDA”, “Adjusted EBITDA” and “Non-GAAP Adjusted Operating Expenses” are useful to investors because they allow for comparison to the Company’s performance in prior periods without the effect of items that, by their nature, tend to obscure the Company’s core operating results due to potential variability across periods based on the timing, frequency and magnitude of such items. As a result, management believes that these measures enhance the ability of investors to analyze trends in the Company’s business and evaluate the Company’s performance relative to peer companies.

Reconciliations of the differences between these non-GAAP financial measures and their most directly comparable financial measures calculated in accordance with GAAP are set forth below.

The Company’s non-GAAP adjusted operating expenses are calculated by excluding stock-based compensation recorded in operating expenses. The Company’s non-GAAP EBITDA is calculated by excluding interest expense, provision (benefit) for income taxes, and depreciation and amortization.  With respect to the Company’s 2026 financial guidance regarding non-GAAP adjusted operating expenses and non-GAAP EBITDA, the Company cannot provide a quantitative reconciliation to the most directly comparable GAAP measure without unreasonable effort due to its inability to make accurate projections and estimates related to certain information needed to calculate some of the adjustments as described above.

Velo3D, Inc.

Non-GAAP Net Loss Reconciliation

(Unaudited)

 

Three months ended

March 31, 2026

December 31, 2025

March 31, 2025

($ In thousands)

% of Rev

% of Rev

% of Rev

Revenue

$

13,816

100.0

%

$

9,441

100.0

%

$

9,320

100.0

%

Gross profit (loss)

2,381

17.2

%

(6,946)

(73.6)

%

697

7.5

%

Net Loss

$

(6,998)

(50.7)

%

$

(21,897)

(231.9)

%

$

(25,014)

(268.4)

%

Stock-based compensation

1,889

13.7

%

2,175

23.0

%

3,596

38.6

%

Loss on warrant cancellation

—

—

%

—

—

%

11,357

121.9

%

Loss on fair value of warrants

—

—

%

96

1.0

%

1,044

11.2

%

Impairment of equipment subject to operating lease

—

—

%

1,066

11.3

%

—

—

%

Gain on fair value of contingent earnout liabilities

—

—

%

(10)

(0.1)

%

—

—

%

Non-routine inventory adjustment for excess and obsolete inventory

—

—

%

6,979

73.9

%

—

—

%

Non-GAAP Net Loss

$

(5,109)

(37.0)

%

$

(11,591)

(122.8)

%

$

(9,017)

(96.7)

%

 

Velo3D, Inc.

Non-GAAP Adjusted EBITDA Reconciliation

(Unaudited)

 

Three months ended

March 31, 2026

December 31, 2025

March 31, 2025

($ In thousands)

% of Rev

% of Rev

% of Rev

Revenue

$

13,816

100.0

%

$

9,441

100.0

%

$

9,320

100.0

%

Net Loss

(6,998)

(50.7)

%

(21,897)

(231.9)

%

(25,014)

(268.4)

%

Interest expense

733

5.3

%

524

5.6

%

1,070

11.5

%

Provision (benefit) for income taxes

26

0.2

%

34

0.4

%

8

0.1

%

Depreciation and amortization

762

5.5

%

1,026

10.9

%

995

10.7

%

EBITDA

$

(5,477)

(39.6)

%

$

(20,313)

(215.2)

%

$

(22,941)

(246.1)

%

Stock-based compensation

1,889

13.7

%

2,175

23.0

%

3,596

38.6

%

Loss on warrant cancellation

—

—

%

—

—

%

11,357

121.9

%

Loss on fair value of warrants

—

—

%

96

1.0

%

1,044

11.2

%

Impairment of equipment subject to operating lease

—

—

%

1,066

11.3

%

—

—

%

Gain on fair value of contingent earnout liabilities

—

—

%

(10)

(0.1)

%

—

—

%

Non-routine inventory adjustment for excess and obsolete inventory

—

—

%

6,979

73.9

%

—

—

%

Non-GAAP Adjusted EBITDA

$

(3,588)

(26.0)

%

$

(10,007)

(106.0)

%

$

(6,944)

(74.5)

%

 

Velo3D, Inc.

Non-GAAP Adjusted Operating Expenses Reconciliation

(Unaudited)

 

Three months ended

March 31, 2026

December 31, 2025

March 31, 2025

($ In thousands)

% of Rev

% of Rev

% of Rev

Revenue

$

13,816

100.0

%

$

9,441

100.0

%

$

9,320

100.0

%

Operating expenses

Research and development

2,695

19.5

%

3,283

34.8

%

2,059

22.1

%

Selling and marketing

1,721

12.5

%

2,415

25.6

%

1,086

11.7

%

General and administrative

4,912

35.6

%

9,163

97.1

%

9,076

97.4

%

Total operating expenses

$

9,328

67.5

%

$

14,861

157.4

%

$

12,221

131.1

%

Stock-based compensation recorded in operating expenses

1,246

9.0

%

1,533

16.2

%

3,387

36.3

%

Non-GAAP Adjusted operating expenses

$

8,082

58.5

%

$

13,328

141.2

%

$

8,834

94.8

%

 

Velo3D, Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(In thousands, except share and per share data)

 

The three months ended March 31,

2026

2025

Revenue

3D Printer and parts

$

12,021

$

7,523

Recurring payment

—

—

Support services

1,269

1,790

Other

526

7

Total Revenue

13,816

9,320

Cost of revenue

3D Printer and parts

10,225

7,540

Recurring payment

—

12

Support services

1,210

1,071

Total cost of revenue

11,435

8,623

Gross profit

2,381

697

Operating expenses

Research and development

2,695

2,059

Selling and marketing

1,721

1,086

General and administrative

4,912

9,076

Total operating expenses

9,328

12,221

Loss from operations

(6,947)

(11,524)

Interest expense

(733)

(1,070)

Loss on fair value of warrants

—

(1,044)

Loss on warrant cancellation

—

(11,357)

Other income (expense), net

708

(11)

Loss before income taxes

(6,972)

(25,006)

Provision for income taxes

(26)

(8)

Net loss

$

(6,998)

$

(25,014)

Net loss per share:

    Basic and Diluted

$

(0.28)

$

(1.87)

Shares used in computing net loss per share:

    Basic and Diluted

25,021,065

13,398,104

 

Velo3D, Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands, except share and per share data)

 

March 31,

December 31,

2026

2025

Assets

Current assets:

Cash and cash equivalents

$

16,564

$

39,013

Accounts receivable, net

6,732

6,263

Inventories, net

28,104

27,083

Contract assets

4,120

2,039

Prepaid expenses and other current assets

9,650

5,722

Total current assets

65,170

80,120

Property and equipment, net

16,387

13,094

Equipment subject to operating lease, net

1,054

1,629

Other assets

9,793

10,505

Total assets

$

92,404

$

105,348

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable

$

9,089

$

10,301

Accrued expenses and other current liabilities

6,655

7,915

Debt – current portion

3,135

6,305

Contract liabilities

7,739

9,281

Total current liabilities

26,618

33,802

Long-term debt – less current portion

6,037

24,710

Contingent earnout liabilities

1

1

Warrant liabilities

109

109

Other noncurrent liabilities

8,099

8,570

Total liabilities

40,864

67,192

Stockholders’ equity:

Common stock, $0.00001 par value  – 500,000,000 shares authorized at March 31, 2026 and December 31, 2025, 26,216,822 and 24,607,630 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively

5

5

Additional paid-in capital

556,676

536,294

Accumulated deficit

(505,141)

(498,143)

Total stockholders’ equity

51,540

38,156

Total liabilities and stockholders’ equity

$

92,404

$

105,348

 

Velo3D, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In thousands)

 

The three months ended March 31,

2026

2025

Cash flows from operating activities

Net loss

$

(6,998)

$

(25,014)

Adjustments to reconcile net loss to net cash used in operating activities

Depreciation and amortization

762

995

Amortization of debt discount and deferred financing costs

17

48

Stock-based compensation

1,889

3,596

Loss on fair value of warrants

—

1,044

Loss on warrant cancellation

—

11,357

Non-cash lease expense

59

28

Changes in operating assets and liabilities

Accounts receivable

(469)

(846)

Inventories

672

1,989

Contract assets

(2,081)

(795)

Prepaid expenses and other current assets

(3,928)

(3,407)

Other assets

648

1,224

Accounts payable

(5,504)

(860)

Accrued expenses and other liabilities

(1,032)

1,195

Contract liabilities

(1,542)

(2,671)

Other noncurrent liabilities

(471)

(232)

Net cash used in operating activities

(17,978)

(12,349)

Cash flows from investing activities

Purchase of property and equipment

(940)

—

Net cash used in investing activities

(940)

—

Cash flows from financing activities

Proceeds from convertible secured notes

—

15,000

Repayment of 2025 equipment loan

(496)

—

Repayment of secured notes

(3,039)

—

Net cash (used in) provided by financing activities

(3,535)

15,000

Effect of exchange rate changes on cash and cash equivalents

(1)

7

Net change in cash and cash equivalents

(22,454)

2,658

Cash and cash equivalents and restricted cash at beginning of period

39,641

1,840

Cash and cash equivalents and restricted cash at end of period

$

17,187

$

4,498

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets to the total of such amounts shown on the condensed consolidated statements of cash flows:

The three months ended March 31,

2026

2025

Cash and cash equivalents

$

16,564

$

3,870

Restricted cash (Other assets)

623

628

Total cash and cash equivalents and restricted cash

$

17,187

$

4,498

 

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SOURCE Velo3D, Inc.

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In HelloNation, Custom Fabrication Expert Mark Coyle Explains a Common Mistake in Custom Aluminum Design

Published

5 minutes ago

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October 24, 2026

By

The article explains why smart geometry, not thicker walls, creates stronger, more efficient aluminum components.

ROCHESTER, N.Y., Oct. 24, 2026 /PRNewswire/ — What early design choice causes many custom aluminum projects to become heavier, costlier, or harder to manufacture? That question is addressed in a HelloNation article featuring insights from Custom Fabrication Expert Mark Coyle of American Custom Metals, Inc. in Rochester, New York, that outlines how misunderstanding aluminum behavior leads designers to rely on thick walls instead of stronger geometry.

The article begins by explaining that many people assume thicker walls automatically make aluminum parts stronger. It notes that aluminum does not respond to wall thickness the way steel does. Instead, its performance is shaped by how the metal flows through the extrusion die. The article states that custom aluminum design is more effective when profiles use ribs, chambers, and flanges to create stiffness without adding unnecessary weight. This guidance helps readers understand why adding material often increases cost without improving strength.

The article also highlights that thicker walls change how aluminum moves during extrusion. When heavy areas fill more slowly, the metal cools unevenly and can develop stress that only appears later. The HelloNation piece explains that well-balanced geometry keeps extrusion smooth and predictable. This consistency makes it easier to maintain dimensional accuracy across long production runs. By focusing on geometry, custom aluminum design avoids the problems that come with slow extrusion speeds and uneven cooling.

Another insight in the article centers on how ribs and internal supports influence stability. It describes how a thin wall supported by a properly placed rib often performs better than a thick wall with no reinforcement. This happens because the rib helps distribute load, improve stiffness, and guide the aluminum as it cools. The article explains that this structural approach makes custom aluminum design more efficient and gives designers more control over how the final part behaves under pressure.

The article also shows why early collaboration between designer and fabricator prevents costly changes. It states that a fabricator familiar with extrusion can catch potential issues before a die is built. Small adjustments to corners or transitions can remove weak points or improve metal flow. The article notes that this teamwork keeps the design aligned with real-world production. By working together early, both sides reduce the risk of redesigning the die after the first test run.

Machining is another area where the article explains how wall thickness affects performance. Features such as deep pockets or sharp internal angles may require slow feed rates or special tooling. When walls are thicker than needed, those areas can become difficult to machine cleanly. The article states that thoughtful custom aluminum design makes machining more predictable. Small changes, such as adding radiused edges or sizing features to match standard tools, help shorten cycle times and prevent tool wear.

Thermal behavior receives detailed attention as well. The article explains that aluminum retains heat differently depending on the mass of each section. Thicker walls hold heat longer, which increases the chance of distortion during extrusion, machining, or finishing. When a design uses geometry to create strength, the material cools more evenly. This reduces warping and helps long profiles stay aligned. The article notes that stable cooling is important for components that require a precise fit and consistent shape throughout an entire production run.

Cost is also a key topic in the article. It states that heavier profiles increase material use, extrusion time, and tooling needs. A custom aluminum design that relies on geometry instead of mass lowers material consumption and keeps the fabrication process efficient. The article explains that lighter parts are easier to handle, ship, and assemble. This saves money across multiple stages of production and supports long-term manufacturing efficiency.

The article also notes that smart custom aluminum design creates profiles that behave predictably during extrusion and machining. Smooth transitions, balanced wall dimensions, and structural features help reduce the chance of distortion or dimensional drift. These elements also lower scrap rates and support reliable performance. By using geometry instead of excess material, designers build parts that maintain strength without compromising manufacturability.

As the article concludes, it emphasizes that avoiding thick walls is one of the best ways to improve performance and lower cost. It states that the most dependable custom aluminum components come from designs that use structural features to strengthen the profile. When designers understand how aluminum behaves at each stage of extrusion and machining, they create parts that are strong, efficient, and consistent from batch to batch. This approach turns custom aluminum design into a predictable process rather than a series of uncertain adjustments.

A Common Mistake in Custom Aluminum Design features insights from Mark Coyle, Custom Fabrication Expert of Rochester, NY, in HelloNation.

About HelloNation
HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

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SOURCE HelloNation

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World Young Scientist Summit 2026 Opens in Wenzhou, Zhejiang

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1 hour ago

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October 24, 2026

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WENZHOU, China, Oct. 24, 2026 /PRNewswire/ — This is a report by China Daily:

On October 24, the World Young Scientist Summit 2026 opened in Wenzhou, Zhejiang. The event is hosted by the China Association for Science and Technology (CAST), the Zhejiang Provincial People’s Government, and the World Association of Young Scientists. Nearly 800 representatives, including scientists, educators, and entrepreneurs from more than 60 countries and regions, are attending the summit.

He Junke, Vice President of CAST in charge of daily work and First Secretary of its Secretariat; Lian Yimin, Chairman and Party Group Secretary of the Zhejiang Provincial Committee of the Chinese People’s Political Consultative Conference; Marcelo Knobel, Executive Director of The World Academy of Sciences; and Zhang Zhenfeng, Member of the Standing Committee of the CPC Zhejiang Provincial Committee and Secretary of the CPC Wenzhou Municipal Committee, attended the summit and delivered remarks. Yao Gaoyuan, Vice Governor of the Zhejiang Provincial People’s Government, presided over the first segment of the plenary session.

With the theme “Gathering Talents Worldwide to Create a Better Future,” the summit’s annual agenda is “Global Youth Action in the AI Era: Building a Sustainable Future.” It aims to draw on the insights of young people around the world, deepen international sci-tech cooperation, and jointly address questions about young people, science, the world and the future.

Efim Zelmanov, Fields Medalist and Foreign Member of the Chinese Academy of Sciences; Chen Yunji, Deputy Director of the Institute of Computing Technology, CAS, and Director of the National Key Laboratory of Processor Chips; Mary Garson, President of the International Union of Pure and Applied Chemistry; and Lu Chaoyang, Member of the Standing Committee of CAST, Executive Dean of the Shanghai Institute of Advanced Study, University of Science and Technology of China, and Chairman of the Council of the World Association of Young Scientists, delivered keynote speeches respectively on education reform in the AI era, AI and processor chips, young women scientists’ participation in science, and quantum computing. They explored new opportunities for scientific research, talent cultivation, and international cooperation in the AI era.

This year’s summit placed greater emphasis on the growth needs of young scientists, with young talents under the age of 45 accounting for 88 percent of participants. It aimed to build a cluster of international journals, bring together young scientific talent, facilitate a batch of international collaborative projects and advance the application and commercialization of scientific and technological achievements. The summit released the Report on the Distribution and Mobility of Young Scientists in the Field of Embodied Intelligence, launched the World Young Scientist Summit Partner Journal Program and the 2026 World Young Scientist Innovation and Entrepreneurship Growth Support Program. It also published the “Young Scientist Pioneers 2035” list and announced the 2026 Sustainable Development Young Scientist Award. The awards were presented to four Chinese and foreign scientists.

Chen Tianrun, Founder of Hangzhou Moxin Technology Co., Ltd.; Yuan Yang, Assistant to the Dean of the Institute for Interdisciplinary Information Sciences at Tsinghua University; and two of the 2026 Sustainable Development Young Scientist Award winners, César de la Fuente and Nicola Segata, among other Chinese and foreign young scientist representatives, spoke at the flash-talk session to share their research practices and reflections.

In addition, the conference focused on fields such as future manufacturing, quantum information, embodied intelligence, brain-computer intelligence, environmental science, deep-sea resources, and life and health, and held 12 parallel forums. It also included the “Gravitation π” Future Technology and Concept Products Exhibition and Exchange, local thematic side events, and sci-tech and humanities study visits, further building an interdisciplinary, cross-regional and cross-sector platform for youth sci-tech exchange and cooperation.

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SOURCE China Daily

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Technology

The Ultimate Send-off to Summer: CSTS Debuts Global Entertainment IP PremierX at New York’s Pier 17, Ushering in a New Era of Live Entertainment

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October 24, 2026

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NEW YORK, Oct. 24, 2026 /PRNewswire/ — CSTS Enterprises (‘CSTS’), a New York-based sports, entertainment, integrated media and travel technology group, today announced the official launch of PremierXTM, its flagship live entertainment brand, with a landmark Halloween Weekend event “AFTER DARK” at The Rooftop at Pier 17 in New York on October 30, 2026.

Capping off Seaport’s 2026 Summer Season in unforgettable fashion, the grand finale brings a powerhouse lineup of stars to the PremierXTM stage at Pier 17, featuring Lil Xan, Armani White, DJ Soda, Nate Wyatt, and surprise A-list guest headliners. Set against the iconic Manhattan skyline, the landmark eventing unites chart-topping hip-hop and high-octane electronic music for a festival-grade experience as The Rooftop at Pier 17 transforms into the city’s premier live music destination.

Building on the momentum of the PremierXTM After Party for the 2026 World Cup Final that took place in New York on July 19th, “AFTER DARK” signals the official debut of PremierXTM, a proprietary, New York – born global entertainment IP created by CSTS to deliver defining cultural experiences at the intersection of music, sport, art and lifestyle. Centred on the power of cultural crossover, PremierXTM serves as an international bridge connecting East and West, modern innovation and timeless classical, while uniting world-class artists, creators, performers and audiences through the universal language of entertainment and premium live experiences.

The launch also marks the beginning of a promising relationship with Pier 17, providing a world-class stage for PremierXTM to accelerate its growth in the U.S. and engage international audiences over the long term. By combining PremierXTM’s global entertainment vision with Pier 17’s iconic waterfront setting, the partnership aims to create a premier destination for live experiences, empowering both platforms to expand their global reach, deepen audience engagement, and drive sustainable growth.

As a key pillar of CSTS’ integrated ecosystem spanning entertainment, sports, travel, integrated media and marketing solutions, PremierXTM further strengthens the Group’s ability to create high-impact experiences that connect audiences, destinations and brand partners. With the global live entertainment market projected to grow from approximately US$203 billion in 2025 to US$270 billion by 2030[1], PremierXTM is well-positioned to capitalize on the growing demand for premium, experience-led entertainment while creating long-term value to the Group through recurring audience engagement, tourism and brand partnerships.

“PremierX TM represents a significant milestone in CSTS’ evolution from a leading operator of global sports and hospitality platforms into a creator of world-class entertainment experiences,” said Abel Zhao, Group CEO and Executive Director at CSTS Enterprises. “The season finale at Pier17 marks the beginning of an exciting new chapter for CSTS as we expand our entertainment footprint and introduce a platform designed to deliver iconic live experiences and bring together artists and audiences from across the globe.”

“PremierXTM was built from the ground up as a bespoke platform to champion multicultural talent and visionary creative performers.” said Jason Liu, Regional Director of CSTS USA. “Starting from New York, we are building a scalable global brand that brings iconic live experiences to audiences worldwide while expanding our presence across key entertainment hubs in North America, Asia and Europe.”

Following its New York launch, PremierXTM plans to expand through a broader international rollout across North America, Asia and Europe, with future editions planned as part of a growing network of recurring live entertainment properties and flagship cultural events.

For ticket information on PremierXTM: “AFTER DARK”, visit
https://www.axs.com/events/1644912/after-dark-tickets

About CSTS Enterprises

CSTS Enterprises is an integrated media, entertainment, sports, and travel technology group. Headquartered in New York City, the company develops and partners with intellectual properties and brands to deliver compelling experiences that connect with audiences across the world. In addition to its own initiatives, including Generation CTM and PremierXTM, it collaborates with international IPs including FIFA World Cup, UEFA European Championship, and Formula 1.

CSTS integrates experiential marketing, travel, data, and technology to deliver seamless end-to-end audience experiences. The company engages consumers across physical events and digital channels, executing at scale worldwide, turning complex activations into co-ordinated, measurable outcomes.

[1] Source: Industry research by Markets and Markets, Live Entertainment Market Size, Share, Latest Trends & Growth Analysis, 2025-2030, Live Entertainment Market Size, Share, Latest Trends & Growth Analysis, 2025-2030.

 

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SOURCE CSTS Enterprises

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