Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 26

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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The equipment leased to customers had a cost basis of $4.6 million and accumulated depreciation of $0.9 million as of December 31, 2024.

The equipment
subject to operating lease consisted of the following:

Schedule
of Equipment
Subject to Operating Lease

    June 30,  
    December 31, 

    2025  
    2024 

    (In thousands) 
  
    Equipment on Lease 
    $-  
    $— 
  
    Equipment Available for Lease 
     3,566

     4,622 
  
    Total Equipment Subject to Operating Lease 
    $3,566  
    $4,622 
  
    Accumulated Depreciation 
     (546) 
     (949)
  
    Total Equipment Subject to Operating Lease, Net 
    $3,020  
    $3,673 

The
total depreciation expense was $0 and $0.2 million included in cost of revenue for the three months ended June 30, 2025 and 2024, respectively.
The total depreciation expense was $0 and $0.5 million included in cost of revenue for the six months ended June 30, 2025 and 2024, respectively.

Lease
payments from customers consisted of the following:

 Schedule
of Lease Payments from Customers

    2025  
    2024  
    2025  
    2024 

    Three Months Ended June 30,  
    Six Months Ended June 30, 

    2025  
    2024  
    2025  
    2024 

    (In thousands) 
  
    Equipment on lease payments 
    $70  
    $292  
    $70  
    $762 

    14

Note
8. Leases

The
Company leases its office and manufacturing facilities under four non-cancellable operating leases, including options to extend, which
expire between 2025 to 2032. The agreements include a provision for renewal at the then prevailing market rate for terms specified in
each lease.

Total
right-of-use (“ROU”) assets and lease liabilities are as follows:

 Schedule
of Right-of-use Assets and Lease Liabilities

    June 30,  
    December 31, 

    2025  
    2024 

    (In thousands)