Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 123

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 123
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 is longer. The variable payments are recognized when the event determining the amount of variable consideration to be paid occurs.

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We shipped our first Sapphire XC 1MZ system at the end of 2022, one year after the Sapphire XC launch at the end of 2021, and we shipped our first Sapphire system at the end of 2018. The Sapphire XC 1MZ system has the same functionality of the Sapphire XC, but with a 1000 millimeter (one meter) build height versus the 550 millimeter (0.550 meter) build height of the Sapphire XC system. The Sapphire XC has capacity to make parts that are 400% larger and reduce production costs per part by approximately 65% to 80% when compared to the original Sapphire system. All of our Sapphire systems are manufactured in our 80,000+ square foot manufacturing facility in Fremont, California in the United States.

Strategic Review

In December 2023, we announced that our Board of Directors had commenced a strategic business review process to explore alternatives in order to maximize stockholder value. The potential strategic alternatives explored or evaluated by our Board of Directors included a potential merger, business combination or sale. The Company’s strategic review was concluded on December 24, 2024 at the close of the December 2024 Exchange. See “ Management’s Discussion and Analysis of Financial Condition and Results of Operations––Recent Developments––Recent Debt and Equity Transactions and Change in Majority Ownership.”

Strategy for Growth

The key elements listed below are the foundation for our growth plan to support innovation and meet our customers’ growing demand for additive manufacturing solutions. We remain committed to our “land-and-expand” strategy, whereby satisfied customers continue to purchase Sapphire printers and employ RPS services due to the significant capabilities the technology provides to operations, product, and engineering teams.

Streamline and automate high-value, high-complexity metal parts manufacturing from design to full-scale production

Through
our RPS offerings, we aim to provide a one-stop solution for our customers to produce mission-critical metal parts from design to production
by first validating a full digital twin to be produced on any of Velo3D’s Sapphire printers. We expect to automate our Sapphire
printers as well as post-processing tools to create a fully automated factory where our customers would utilize Velo3D’s platform
to produce parts on demand.

Focus on uncontested segments of the market

We focus our sales efforts on customers with a need for parts which our proprietary L-P