Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 299

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 299
---
 assemblies are due upon receipt and are expected to be delivered throughout the remainder of 2025. If inventory is shipped, the Company will accrue a liability under accrued expenses. The Company has no other commitments and contingencies, except for the operating leases. See Note 8, Leases, for further discussion.

Note 14. Employee Defined-Contribution Plans

The Company has a defined-contribution plan intended to qualify under Section 401 of the Internal Revenue Code (the “401(k) Plan”). The Company contracted with a third-party provider to act as a custodian and trustee, and to process and maintain the records of participant data. Substantially all of the expenses incurred for administering the 401(k) Plan are paid by the Company. Accrued salaries and benefits included accruals related to the 401(k) plans the Company offers to its employees. In order to qualify for these plans, employees must meet the minimum age requirement (21 years) and begin participating on their entry date which is the first paycheck date in the month following the month of eligibility described above. Employee and employer contributions are immediately 100% fully vested. The plans offer employer contributions of 3.0% of an employee’s eligible compensation following safe-harbor rules. The Company’s contribution to the 401(k) Plan was $ 0.2million and $ 0.3million for the three months ended June 30, 2025 and 2024, respectively, and $ 0.3million and $ 0.5million for the six months ended June 30, 2025 and 2024, respectively. The Company has paid all matching contributions as of June 30, 2025.

| F-76 |

Note 15. Revenue

Customer Concentration

The customer concentration for balances greater than 10% of revenues and 10% of accounts receivables, net, respectively, are presented below:

Schedule of Concentration of Risk

|             |     |               Total Revenue |      |   |     |      |      |   |     |                           |      |   |     |      |      |   |     | Accounts Receivable, Net |      |   |     |              |      |   |
|             |     | Three Months Ended June 30, |      |   |     |      |      |   |     | Six Months Ended June 30, |      |   |     |      |      |   |     |                 June 30,