This paper presents a characterization study of specimens manufactured from Ti-6Al-4V powder with the use of laser engineered net shaping technology (LENS). Two different orientations of the specimens were considered to analyze the loading direction influence on the material mechanical properties. Moreover, two sets of specimens, as-built (without heat treatment) and after heat treatment, were used. An optical measurement system was also adopted for determining deformation of the specimen, areas of minimum and the maximum principal strain, and an effective plastic strain value at failure. The loading direction dependence on the material properties was observed with a significant influence of the orientation on the stress and strain level. Microstructure characterization was examined with the use of optical and scanning electron microscopes (SEM); in addition, the electron backscatter diffraction (EBSD) was also used. The fracture mechanism was discussed based on the fractography analysis. The presented comprehensive methodology proved to be effective and it could be implemented for different materials in additive technologies. The material data was used to obtain parameters for the selected constitutive model to simulate the energy absorbing structures manufactured with LENS technology. Therefore, a brief discussion related to numerical modelling of the LENS Ti-6Al-4V alloy was also included in the paper. The numerical modelling confirmed the correctness of the acquired material data resulting in a reasonable reproduction of the material behavior during the cellular structure deformation process.