Company: VLDXW
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0000950170-25-005443
Chunk: 133

Company: Velo3D, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 8
Chunk 133
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    91.2%
     
    $(51,037)
     
    (74.6)%

    Recurring payment
     
    954
     
    3.4%
     
    1,141
     
    1.5%
     
    (187)
     
    (16.4)%

    Licensing
     
    5,000
     
    17.6%
     
    —
     
    —
     
    5,000
     
    100.0%

    Support services
     
    5,035
     
    17.7%
     
    5,422
     
    7.2%
     
    (387)
     
    (7.1)%

    Total Revenue
     
    $28,377
     
    100.0%
     
    $74,988
     
    100.0%
     
    $(46,611)
     
    (62.2)%

Total revenue for the nine months ended September 30, 2024 and 2023 was $28.4 million and $75.0 million, respectively, a decrease of $46.6 million, or 62.2%.

3D Printer sales were $17.4 million and $68.4 million for the nine months ended September 30, 2024 and 2023, respectively, a decrease of $51.0 million. The decrease in revenue was primarily attributed to a fewer number of systems sold, offset by a change in product mix to include more higher priced systems. The 3D Printer sales also included parts and consumables revenue.

43

Recurring Payment, structured as an operating lease, was $1.0 million and $1.1 million for the nine months ended September 30, 2024 and 2023, respectively. The decrease was primarily attributable to a revenue reduction related to increased bad debt expense in the nine months ended September 30, 2023.

Licensing revenue was $5.0 million and $0 for the nine months ended September 30, 2024 and 2023, respectively. The increase in licensing revenue was attributed to a licensing agreement with SpaceX where SpaceX obtained a non-exclusive license to certain Velo3D patents and technologies for its internal uses only. 

Our Support Services revenue was $5.0 million and $5.4 million