Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 94

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 94
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         |     |       |   |     |   |         |   |     |     |       |    |
| Cost of 3D Printers       |     | $                     | 34,159 |     |  79.3 | % |     | $ |  94,448 |     |  91.1 | % |     | $ | (60,289 | ) |     |     | (63.8 | )% |
| Cost of Recurring Payment |     |                       |    866 |     |   2.0 | % |     |   |   1,291 |     |   1.2 | % |     |   |    (425 | ) |     |     | (32.9 | )% |
| Cost of Support Services  |     |                       |  8,063 |     |  18.7 | % |     |   |   7,971 |     |   7.7 | % |     |   |      92 |   |     |     |   1.2 | %  |
| Total Cost of Revenue     |     | $                     | 43,088 |     | 100.0 | % |     | $ | 103,710 |     | 100.0 | % |     | $ | (60,622 | ) |     |     | (58.5 | )% |

Total cost of revenue for the years ended
December 31, 2024 and 2023 was $43.1 million and $103.7 million, respectively, a decrease of $60.6 million, or 58.5%.

Cost of 3D Printers was $34.2 million and
$94.4 million, for the years ended December 31, 2024 and 2023, respectively. The decrease of $60.3 million was primarily due to a decrease
in the number of 3D Printers sold, which included both Sapphire and Sapphire XC systems, compared to the number of 3D Printers sold for
the year ended December 31, 2023.

During the year ended December 31, 2024, the
cost of the Sapphire 1MZ, Sapphire XC, and Sapphire XC 1MZ systems included lower factory overhead costs to scale up operations, production
engineering development costs, and lower costs to expedite shipping for manufacturing materials and assemblies related to supply