Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 73

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 73
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2024 was $22.9 million and $20.1 million, respectively, an increase of $2.8 million,
or 13.7%.

3D
Printer sales were $19.6 million and $16.3 million for the six months ended June 30, 2025 and 2024, respectively, an increase of $3.3
million. The increase in revenue was primarily attributed to product mix and the number of systems sold. The 3D Printer sales also included
printed parts and consumables revenue.

38

Recurring
Payment revenue, structured as an operating lease, was less than $0.1 million for the six months ended June 30, 2025 and $0.8 million
for the six months ended June 30, 2024. The decrease was primarily attributable to a revenue reduction related to fewer operating lease
transactions.

Our
Support Services revenue was $3.1 million and $3.0 million for the six months ended June 30, 2025 and 2024, respectively, an increase
of $0.1 million. The increase in Support Services revenue was primarily due to services provided to customers as a result of the increased
installed base.

Other
revenue was less than $0.1 million and $0.0 for the six months ended June 30, 2025 and 2024, respectively.

Cost
of Revenue

The
following table presents the Cost of Revenue disaggregated by product and service type, as well as the percentage of total cost of revenue.

    Six Months Ended June 30,  

    2025  
    2024  
    Change  
    % 

    (In thousands, except for percentages) 
  
    Cost of Revenue 

    Cost of 3D Printers 
    $21,534  
     90.5% 
    $20,138  
     77.9% 
    $1,396  
     6.9%
  
    Cost of Recurring Payment 
     12  
     0.1% 
     547  
     2.1% 
     (535) 
     (97.8)%
  
    Cost of Support Services 
     2,237  
     9.4% 
     5,157  
     20.0% 
     (2,920) 
     (56.