Company: VLDXW
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0000950170-25-005443
Chunk: 96

Company: Velo3D, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 8
Chunk 96
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 to the current period presentation.Accrued Expenses and Other Current LiabilitiesAccrued expenses and other current liabilities consisted of the following: 

        September 30,

        December 31,

        2024

        2023

        (In thousands)

        Accrued expenses
         
        $
        1,769

        $
        1,948

        Accrued salaries and benefits

        1,668

        2,277

        Lease liability – current portion

        1,888

        2,266

        Total Accrued expenses and other current liabilities
         
        $
        5,325

        $
        6,491

       Other Noncurrent LiabilitiesOther noncurrent liabilities consisted of the following: 

        September 30,

        December 31,

        2024

        2023

        (In thousands)

        Lease liabilities – noncurrent portion
         
        $
        8,887

        $
        10,176

        Other noncurrent liabilities

        1,450

        1,380

        Total other noncurrent liabilities
         
        $
        10,337

        $
        11,556

Note 7. Equipment on Lease, NetThe equipment leased to customers had a cost basis of $4.6 million and accumulated depreciation of $0.8 million as of September 30, 2024. The equipment leased to customers had a cost basis of $7.4 million and accumulated depreciation of $0.8 million as of December 31, 2023. The total depreciation expense was $0.1 million and $0.1 million included in cost of revenue for the three months ended September 30, 2024 and 2023, respectively. The total depreciation expense was $0.6 million and $0.7 million included in cost of revenue for the nine months ended September 30, 2024 and 2023, respectively.Lease payments from customers consisted of the following: 

        Three Months Ended September 30,

        Nine Months Ended September 30,

        2024

        2023

        2024

        2023

        (In thousands)

        Equipment on lease payments
         
        $
        192

        $
        531

        $
        954

        $
        1,141

16

Lease payments to be