Company: VLDXW
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0000950170-25-005443
Chunk: 126

Company: Velo3D, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 8
Chunk 126
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 assets as of September 30, 2024 and 2023.  

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.

38

Results of Operations

Comparison of the Three Months Ended September 30, 2024 and 2023: 

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

    Three Months Ended September 30,

    2024
     
    2023
     
    Change
     
    %

    (In thousands, except for percentages)

    Revenue

    3D Printer
     
    $1,049
     
    $20,787
     
    $(19,738)
     
    (95.0)%

    Recurring payment
     
    192
     
    531
     
    (339)
     
    (63.8)%

    Licensing
     
    5,000
     
    —
     
    5,000
     
    100.0%

    Support services
     
    2,006
     
    1,849
     
    157
     
    8.5%

    Total Revenue
     
    8,247
     
    23,167
     
    (14,920)
     
    (64.4)%

    Cost of revenue

    3D Printer
     
    2,224
     
    20,772
     
    (18,548)
     
    (89.3)%

    Recurring payment
     
    195
     
    111
     
    84
     
    75.7%

    Support services
     
    1,757
     
    2,121
     
    (364)
     
    (17.2)%

    Total cost of revenue
     
    4,176
     
    23,004
     
    (18,828)
     
    (81.8)%

    Gross profit (loss)
     
    4,071
     
    163