Company: VLDXW
Filing Date: 2025-06-25
Form Type: DRS
Source: 0001641172-25-016496
Chunk: 273

Company: Velo3D, Inc.
Filing Date: 2025-06-25
Form: DRS
Chunk 273
---
 Placement Agent Warrants, the 2024 Private Warrants, the BEPO Warrants, the BEPO Agent Warrants, the July 2024 Private Warrants and the August Inducement Warrants are based on significant unobservable inputs, which represent Level 3 measurements within the fair value hierarchy.

In determining the fair value of the Private Placement Warrant liabilities, contingent earnout liabilities, and 2024 Private Warrants, the Company used the Monte Carlo simulation model using a distribution of potential outcomes on a weekly basis over the applicable periods that assumes optimal exercise of the Company’s redemption option at the earliest possible date (see Note 10, Equity Instruments).

In determining the fair value of the 2022 Private Warrant, RDO Warrants, Placement Agent Warrants, BEPO Warrants, BEPO Agent Warrants, July 2024 Private Warrants and August Inducement Warrants the Company used the Black-Scholes option pricing model to estimate the fair value using unobservable inputs including the expected term, expected volatility, risk-free interest rate and dividend yield (see Note 10, Equity Instruments).

Note 5. Investments

Available-for-sale Investments

There were no available-for-sale (“AFS”) investments as of March 31, 2025 and December 31, 2024.

There were no material realized gains or losses on AFS investments during the three months ended March 31, 2025 and March 31, 2024.

Note 6. Balance Sheet Components

Accounts Receivable, Net

Accounts receivable, net consisted of the following:

|                             |     | March 31,      
 2025           
 (In thousands) |        |   |     | December 31, 
 2024         |        |   |
|:----------------------------|:----|:---------------|-------:|:--|:----|:-------------|-------:|:--|
| Trade receivables           |     | $              |  7,680 |   |     | $            |  7,130 |   |
| Less: Allowances for credit 
 losses                      |     |                | (3,111 | ) |     |              | (3,407 | ) |
| Total                       |     | $              |  4,569 |   |     | $            |  3,723 |   |

| F-63 |

<div align='center'>Confidential Treatment Requested by Velo3D, Inc.

Purs