Company: VLDXW
Filing Date: 2025-08-20
Form Type: 424B4
Source: 0001641172-25-024892
Chunk: 101

Company: Velo3D, Inc.
Filing Date: 2025-08-20
Form: 424B4
Chunk 101
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 | (13,565 | ) |     | $    | (28,492 | ) |     | $      | 14,927 |   |
| Net cash (used in) provided by investing activities |     | $                |  (1,799 | ) |     | $    |   5,966 |   |     | $      | (7,765 | ) |
| Net cash provided by financing activities           |     | $                |  15,000 |   |     | $    |     490 |   |     | $      | 14,510 |   |

Operating Activities

Net cash used in operating activities for
the six months ended June 30, 2025 was $13.6 million, consisting primarily of a net loss of $39.2 million, non-cash loss of $25.9 million
described below, and a decrease in net operating assets of less than $0.3 million. The cash used from net operating assets was comprised
of a decrease from accounts receivable of $1.7 million, a decrease from contract liabilities of $3.6 million, a decrease from accounts
payable of $0.9 million, a decrease from other net operating assets of $1.8 million, and offset by an increase from inventories of $5.7
million, and an increase from other assets of $2.0 million. The non-cash loss of $25.9 million primarily consisted of the loss on cancellation
of warrants of $11.4 million, stock-based compensation expense of $6.5 million, the loss on the disposal of fixed assets of $2.7 million,
and the loss on fair value of warrants of $1.0 million.

Net cash used in operating activities for
the six months ended June 30, 2024 was $28.5 million, consisting primarily of a net loss of $28.5 million, non-cash gain of $2.4 million
described below, and an increase in net operating assets of $2.3 million. The increase in net operating assets was comprised of an increase
from accounts receivable of $1.2 million due to timing of customer payments, an increase from inventories of $3.9 million for Sapphire
XC, Sapphire 1MZ and Sapphire XC 1MZ system production, and an increase from prepaid expenses of $1.9 million related to insurance and
vendor prepayments, offset by a