Company: VLDXW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001193125-25-277471
Chunk: 0

Company: Velo3D, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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Velo3D, Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands, except share and per share data)

     September 30,

     December 31,

     2025

     2024

     Assets

     Current assets:

     Cash and cash equivalents
      
     $
     11,842

     $
     1,212

     Accounts receivable, net

     6,672

     3,723

     Inventories

     35,386

     49,953

     Contract assets

     3,438

     500

     Prepaid expenses and other current assets

     1,829

     2,336

     Total current assets

     59,167

     57,724

     Property and equipment, net

     12,419

     14,270

     Equipment subject to operating lease, net

     3,020

     3,673

     Other assets

     19,293

     13,513

     Total assets
      
     $
     93,899

     $
     89,180

     Liabilities and Stockholders’ Equity

     Current liabilities:

     Accounts payable
      
     $
     11,341

     $
     18,538

     Accrued expenses and other current liabilities

     12,684

     3,511

     Debt — current portion

     5,314

     5,666

     Contract liabilities

     8,228

     10,285

     Total current liabilities

     37,567

     38,000

     Long-term debt — less current portion

     17,702

     —

     Contingent earnout liabilities

     11

     11

     Warrant liabilities

     13

     2,167

     Other noncurrent liabilities

     8,450

     9,338

     Total liabilities

     63,743

     49,516

     Commitments and contingencies (Note 13)

     Stockholders’ equity:

     Common stock, $0.00001 par value — 500,000,000 shares authorized at September 30, 2025 and December 31, 2024, respectively, 20,912,172 and