Company: VLDXW
Filing Date: 2025-06-25
Form Type: DRS
Source: 0001641172-25-016496
Chunk: 299

Company: Velo3D, Inc.
Filing Date: 2025-06-25
Form: DRS
Chunk 299
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 <10 | % |
| Customer 3 |     |                        |  <10 | % |     |      | 13.5 | % |     |                 |  <10 | % |     |          |  <10 | % |
| Customer 4 |     |                        |    — | % |     |      |  <10 | % |     |                 | 16.9 | % |     |          | 18.2 | % |
| Customer 5 |     |                        |    — | % |     |      |    — | % |     |                 | 12.0 | % |     |          | 12.9 | % |
| Customer 6 |     |                        |    — | % |     |      |    — | % |     |                 | 10.1 | % |     |          | 10.8 | % |

Revenue by Geographic Area

The Company currently sells its products in the geographic regions as follows:

|          |     | Three                  
 Months Ended March 31, 
 2025                   
 (In                    
 thousands)             |       |     | 2024 |       |
|:---------|:----|:-----------------------|------:|:----|:-----|------:|
| Americas |     | $                      | 8,289 |     | $    | 9,373 |
| Europe   |     |                        |   936 |     |      |   325 |
| Other    |     |                        |    95 |     |      |    88 |
| Total    |     | $                      | 9,320 |     | $    | 9,786 |

Contract Assets and Liabilities

There was $0.5 million of revenue recognized during the three months ended March 31, 2025, included in contract liabilities as of December 31, 2024. The amount of revenue recognized during the three months ended March 31, 2024 included in contract liabilities as of December 31, 2023 was $0.9 million. The change in contract assets reflects the difference in timing between the Company’s satisfaction of remaining performance obligations and the Company’s contractual right to bill its customers. The Company had no material asset impairment charges related to contract assets in the periods presented.

Variable Consideration

The Company estimates its variable consideration on a quarterly basis based on the latest data available, and adjusts the transaction price accordingly by recording an adjustment to net revenue and