Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 101

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 101
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Cash Flows for the Six Months Ended June 30, 2025 and 2024

The following table summarizes our cash flows
for the six months ended June 30, 2025 and 2024:

|                                                     |     | Six Months Ended 
 June 30,         
 2025             
 (In thousands)   |         |   |     | 2024 |         |   |     | Change |        |   |
|:----------------------------------------------------|:----|:-----------------|--------:|:--|:----|:-----|--------:|:--|:----|:-------|-------:|:--|
| Net cash used in operating activities               |     | $                | (13,565 | ) |     | $    | (28,492 | ) |     | $      | 14,927 |   |
| Net cash (used in) provided by investing activities |     | $                |  (1,799 | ) |     | $    |   5,966 |   |     | $      | (7,765 | ) |
| Net cash provided by financing activities           |     | $                |  15,000 |   |     | $    |     490 |   |     | $      | 14,510 |   |

Operating Activities

Net cash used in operating activities for
the six months ended June 30, 2025 was $13.6 million, consisting primarily of a net loss of $39.2 million, non-cash loss of $25.9 million
described below, and a decrease in net operating assets of less than $0.3 million. The cash used from net operating assets was comprised
of a decrease from accounts receivable of $1.7 million, a decrease from contract liabilities of $3.6 million, a decrease from accounts
payable of $0.9 million, a decrease from other net operating assets of $1.8 million, and offset by an increase from inventories of $5.7
million, and an increase from other assets of $2.0 million. The non-cash loss of $25.9 million primarily consisted of the loss on cancellation
of warrants of $11.4 million, stock-based compensation expense of $6.5 million, the loss on the disposal of fixed assets of $2.7 million,
and the loss on fair value of warrants of $1.0 million.

Net cash used in