Company: VLDXW
Filing Date: 2025-08-20
Form Type: 424B4
Source: 0001641172-25-024892
Chunk: 230

Company: Velo3D, Inc.
Filing Date: 2025-08-20
Form: 424B4
Chunk 230
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 when the customer will return or renew leased equipment. Additionally, lessees do not provide residual value guarantees on equipment on lease. The future lease payments expected in 2025 are $1.1 million.

| F-27 |

<div align='center'>Velo3D, Inc.

Notes to Consolidated Financial Statements</div>

Lease payments consisted of the following:

Schedule of Lease Payments from Customers

|                   |     |      2024 |       |     | 2023 |       |
|                   |     |  December 
       31, |       |     |      |       |
|                   |     |      2024 |       |     | 2023 |       |
|                   |     |       -In 
 thousands |       |     |      |       |
| Equipment         
 on lease payments |     |           | 1,054 |     |      | 1,676 |

The Company entered into debt secured by certain leased equipment to customers in 2023. See Note 9, Long-term Debt,for a description of these financing arrangements.

Note 8. Leases

The Company leases its office and manufacturing facilities under four non-cancellable operating leases, with expiration dates ranging from 2024 to 2032. Each lease includes options to extend and a provision for renewal at the prevailing market rate at the time of renewal, as specified in the agreements.

As noted above in Note 6, Balance Sheet Components, the manufacturing facility operating lease at Campbell (“McGlincy”) was terminated on March 31, 2023, and is no longer in use. The Company’s right-of-use assets and lease liabilities related to McGlincy were amortized in full over the life of the lease. Additionally, the Company exited from its two facilities at Campbell (Division) on December 31, 2023, which are no longer in use, however the lease agreement was not terminated. On November 20, 2024, the Company exited the Augsburg Technology Center lease for which no lease termination costs were incurred.

Total ROU assets and lease liabilities are as follows:

Schedule of Right-of-use Assets and Lease Liabilities

| Right-of-use                                    
 assets:                                         |     | 2024       
 December   
 31,        
 2024       
 (In        
 thousands) |        |     | 2023 
 2023 |        |
|:------------------------------------------------|:----|:-----------|-------:|:----|:-----|-------:|
| Net