Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 108

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 108
---
 growth company
that has chosen not to take advantage of the extended transition period exemptions because of the potential differences in accounting
standards used. See Note 2, Summary of Significant Accounting Policies, in the notes to the audited consolidated financial statements
included in this prospectus for the recent accounting pronouncements adopted and the recent accounting pronouncements not yet adopted.

We will remain an emerging growth company
under the JOBS Act until the earliest of (a) December 31, 2025, (b) the last date of our fiscal year in which we have total annual gross
revenue of at least $1.235 billion, (c) the last date of our fiscal year in which we are deemed to be a “large accelerated filer”
under the rules of the SEC or (d) the date on which we have issued more than $1.0 billion in nonconvertible debt securities during the
previous three years.

| 67 |

Critical Accounting Policies and Significant Estimates

Our discussion and analysis of our financial
condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with
U.S. GAAP. We evaluated the development and selection of our critical accounting policies and estimates and believe that the following
involve a higher degree of judgement or complexity and are most significant to reporting our results of operations and financial position
and are therefore discussed as critical. The following critical accounting policies reflect the significant estimates and judgements
used in the preparation of our consolidated financial statements. Actual results could differ materially from those estimates and assumptions,
and those differences could be material to our consolidated financial statements. We re-evaluate our estimates on an ongoing basis. For
information on our significant accounting policies, refer to Note 2, Summary of Significant Accounting Policies,included in the
notes to the consolidated financial statements in this prospectus.

Revenue Recognition

Revenue subject to ASC 606 consists of 3D
Printer sales and Support Services (recognition of Recurring Payment consisting of payments from lessees of the Company’s equipment
discussed below). The Company determines revenue recognition through the following five- step model for recognizing revenue: (1) identification
of the contract with a customer; (2) identification of the performance obligations in the contract; (3) determination of the transaction
price; (4) allocation of the transaction price to the performance obligations in the contract; and (5) recognition of revenue when, or
as, the Company satisfies its performance obligation.

A typical contract with