Company: VLDXW
Filing Date: 2025-08-20
Form Type: 424B4
Source: 0001641172-25-024892
Chunk: 78

Company: Velo3D, Inc.
Filing Date: 2025-08-20
Form: 424B4
Chunk 78
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|:--|:----|:-------|-------:|:--|:----|:--|-------:|:---|
| Cost of 3D Printers       |     | $                                      | 13,994 |     |  92.3 | % |     | $    | 10,744 |     |  81.1 | % |     | $      |  3,250 |   |     |   |   30.2 | %  |
| Cost of Recurring Payment |     |                                        |      — |     |     — |   |     |      |    232 |     |   1.8 | % |     |        |   (232 | ) |     |   | (100.0 | )% |
| Cost of Support Services  |     |                                        |  1,166 |     |   7.7 | % |     |      |  2,265 |     |  17.1 | % |     |        | (1,099 | ) |     |   |  (48.5 | )% |
| Total Cost of Revenue     |     | $                                      | 15,160 |     | 100.0 | % |     | $    | 13,241 |     | 100.0 | % |     | $      |  1,919 |   |     |   |   14.5 | %  |

Total cost of revenue for the three months
ended June 30, 2025 and 2024 was $15.2 million and $13.2 million, respectively, an increase of $1.9 million, or 14.5%.

Cost of 3D Printers was $14.0 million and
$10.7 million for the three months ended June 30, 2025 and 2024, respectively. The increase of $3.3 million was due to the higher overhead
and labor absorption to manufacture the systems which were started in 2024 and sold in 2025 for the three months ended June 30, 2025,
compared to the three months ended June 30, 2024. We expect the cost to manufacture new systems in 2025 to improve as a result of overhead
and fixed cost reduction efforts implement in late 2024.

Cost of Recurring Payment was $0.0 and $0.2
million for the three