Company: VLDXW
Filing Date: 2025-06-25
Form Type: DRS
Source: 0001641172-25-016496
Chunk: 80

Company: Velo3D, Inc.
Filing Date: 2025-06-25
Form: DRS
Chunk 80
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Other income (expense), net includes interest earned on our bank sweep account, gains and losses on disposals of fixed assets, transaction costs related to the warrant inducement transaction and other miscellaneous income/expenses.

Income Taxes

No provision for federal and state income taxes was recorded for any periods presented due to projected losses, and we maintained a full valuation allowance on the deferred tax assets as of March 31, 2025 and 2024.

We will continue to review our conclusions about the appropriate amount of the valuation allowance on a quarterly basis. If we were to generate profits, the U.S. valuation allowance position could be reversed in the foreseeable future. We expect a benefit to be recorded in the period the valuation allowance reversal is recorded and a higher effective tax rate in periods following the valuation allowance reversal.

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<div align='center'>Confidential Treatment Requested by Velo3D, Inc.

Pursuant to 17 CFR 200.83</div>

Results of Operations

Comparison of the Three Months Ended March 31, 2025 and 2024:

The following table summarizes our historical results of operations for the periods presented:

| Revenue                                         |     | Three                   
 Months Ended March 31,  
 2025                    
 (In thousands,          
 except for percentages) |         |   |     | 2024 |         |   |     | Change |         |   |     | % |        |    |
|:------------------------------------------------|:----|:------------------------|--------:|:--|:----|:-----|--------:|:--|:----|:-------|--------:|:--|:----|:--|-------:|:---|
| 3D Printer                                      |     | $                       |   7,523 |   |     | $    |   7,660 |   |     | $      |    (137 | ) |     |   |   (1.8 | )% |
| Recurring payment                               |     |                         |       — |   |     |      |     470 |   |     |        |    (470 | ) |     |   | (100.0 | )% |
| Support services                                |     |                         |   1,790 |   |     |      |   1,656 |   |     |        |     134 |   |     |   |    8.1 | %  |
| Other                                           |     |                         |