Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 58

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 the Company, approved an amendment (“the Written Consent Amendment”) to the Company’s
Certificate of Incorporation, as amended (the “Certificate of Incorporation’), to remove Section 1 of Article VIII
of the Certificate of Incorporation, which prohibited stockholder action by written consent without a stockholder meeting. On July 1,
2025, the Written Consent Amendment was filed with the Secretary of State of the State of Delaware. As a result of the Written Consent
Amendment, stockholders will be permitted to act by written consent to the extent permitted under the General Corporation Law of the
State of Delaware.

Key
Financial and Operational Metrics

We
believe that our performance and future success depend on many factors that present significant opportunities for us but also pose risks
and challenges, including those discussed herein and in the section of the 2024 Form 10-K titled “Risk Factors.”

We
regularly evaluate several metrics, including the metrics presented in the table below, to measure our performance, identify trends affecting
our business, prepare financial projections, make strategic decisions, and establish performance goals for compensation and we periodically
review and revise these metrics to reflect changes in our business.

    As of and for the
 Three Months Ended June 30,  
    As of and for the 
Six Months Ended June 30, 

    2025  
    2024  
    2025  
    2024 
  
    Revenue ($ in millions) 
    $14  
    $10  
    $23  
    $20 
  
    Bookings ($ in millions) 
    $12  
    $5  
    $20  
    $22 
  
    Backlog ($ in millions) 
    $16  
    $17  
    $16  
    $17 

30

Bookings
($ in millions): Bookings ($ in millions) are defined as a confirmed order for a 3D printer system and printed parts in contracted
dollars.

Backlog
($ in millions): Backlog ($ in millions) is defined as the unfulfilled 3D printer systems and printed parts to be delivered to customers
in contracted dollars as of period end.

Customer
Concentration

Our
operating results for the foreseeable future will continue to depend on sales to a small group of customers. For the three months ended
June 30, 2025 and 2024, sales to the top three customers accounted for