Company: VLDXW
Filing Date: 2025-08-20
Form Type: 424B4
Source: 0001641172-25-024892
Chunk: 85

Company: Velo3D, Inc.
Filing Date: 2025-08-20
Form: 424B4
Chunk 85
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| Cost of 3D Printers       |     | $                                      | 21,534 |     |  90.5 | % |     | $    | 20,138 |     |  77.9 | % |     | $      |  1,396 |   |     |   |   6.9 | %  |
| Cost of Recurring Payment |     |                                        |     12 |     |   0.1 | % |     |      |    547 |     |   2.1 | % |     |        |   (535 | ) |     |   | (97.8 | )% |
| Cost of Support Services  |     |                                        |  2,237 |     |   9.4 | % |     |      |  5,157 |     |  20.0 | % |     |        | (2,920 | ) |     |   | (56.6 | )% |
| Total Cost of Revenue     |     | $                                      | 23,783 |     | 100.0 | % |     | $    | 25,842 |     | 100.0 | % |     | $      | (2,059 | ) |     |   |  (8.0 | )% |

Total cost of revenue for the six months ended
June 30, 2025 and 2024 was $23.8 million and $25.8 million, respectively, a decrease of $2.1 million, or 8.0%.

| 55 |

Cost of 3D Printers was $21.5 million and $20.1 million for the six months ended June 30, 2025 and 2024, respectively. The increase
of $1.4 million was due to the higher overhead and labor absorption to manufacture the systems which were started in 2024 and sold in
2025, offset by the product mix and decrease in the number of systems sold, for the six months ended June 30, 2025, compared to the six
months ended June 30, 2024. The Cost of 3D Printer also included cost for printed parts and consumables.

Cost of Recurring Payment was less than $0.1
million and $0.5 million for the six months ended June 30, 2025 and