Company: VLDXW
Filing Date: 2025-08-20
Form Type: 424B4
Source: 0001641172-25-024892
Chunk: 277

Company: Velo3D, Inc.
Filing Date: 2025-08-20
Form: 424B4
Chunk 277
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 segment items included in condensed consolidated net income are interest income, other expense, net and the provision
for (benefit from) income taxes, which are reflected in the unaudited condensed consolidated statements of comprehensive income (loss).

Equipment Subject to Operating Lease

We
have updated certain naming conventions within our condensed consolidated interim financial statement descriptions to better reflect
the nature of our leases. The line item previously labeled “Equipment on lease, net” has been renamed to “Equipment
subject to operating lease, net”. Additionally, the related note disclosure has been revised to separately present (i) “Equipment
on Lease”, and (ii) “Equipment available on lease”. These changes are intended to improve clarity and more accurately
represent the composition and status of our equipment subject to operating lease.

For
more information, see Note 7, Equipment Subject to Operating Lease, Net, in the notes of the unaudited condensed consolidated
interim financial statements included elsewhere in this Quarterly Report.

Our
3D printers subject to operating leases are classified using the following criteria:

|                                                                                                   |     | Equipment on Lease         |     | Equipment Available for Lease        |
| Revenue generation – under contract or not under contract but held for potential                  
 redeployment to existing or new customers                                                         |     | Yes (lease income active)  |     | No (not on active lease)             |
| Physical location – remains in a condition, location, and business context rendering it suitable  
 for future lease arrangements                                                                     |     | At customer site           |     | At customer site, idle, or warehouse |
| Intended use – for third party customers and not for internal usage                               |     | On Lease                   |     | Available for Lease                  |
| Depreciation – the lesser of the useful life of the equipment or the contract period and annually 
 tested for impairment                                                                             |     | Yes, per original schedule |     | Yes, may accelerate if impaired      |

If
the 3D printers does not meet the above criteria, the equipment is classified under property and equipment, net.

Revision of Previously Filed Financial Statements

During the second quarter of 2025, the Company discovered the initial research and development and sales and marketing operating expenses for the three months ended March 31, 2025, were incorrectly presented on the unaudited condensed consolidated statement of operations and comprehensive loss. The Company initially reported the research and development expenses under the sales and marketing financial statement line item and the sales and marketing expenses under the research and development financial statement line item in