Company: VLDXW
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0000950170-25-005443
Chunk: 50

Company: Velo3D, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 we expect will enhance our efforts to introduce our technology to new customers and expand our existing customer network to increase demand. 

Cost of Revenue

The following table presents the Cost of Revenue disaggregated by product and service type, as well as the percentage of total cost of revenue.

    Nine Months Ended September 30,

    ​
     
    2024
     
    2023
     
    Change
     
    %

    ​
     
    (In thousands, except for percentages)

    Cost of Revenue

    Cost of 3D Printers
     
    $22,362
     
    74.5%
     
    $62,992
     
    90.3%
     
    $(40,630)
     
    (64.5)%

    Cost of Recurring Payment
     
    742
     
    2.5%
     
    893
     
    1.3%
     
    (151)
     
    (16.9)%

    Cost of Support Services
     
    6,914
     
    23.0%
     
    5,872
     
    8.4%
     
    1,042
     
    17.7%

    Total Cost of Revenue
     
    $30,018
     
    100.0%
     
    $69,757
     
    100.0%
     
    $(39,739)
     
    (57.0)%

Total cost of revenue for the nine months ended September 30, 2024 and 2023 was $30.0 million and $69.8 million, respectively, a decrease of $39.7 million, or 57.0%. 

Cost of 3D Printers was $22.4 million and $63.0 million for the nine months ended September 30, 2024 and 2023, respectively. The decrease of $40.6 million was due to a decrease in number of systems sold for the nine months ended September 30, 2024, compared to the nine months ended September 30, 2023, offset by consistent fixed manufacturing costs, for the nine months ended September 30, 2024 compared to the nine months ended September 30, 2023.

Cost of Recurring Payment was $0.7 million and $0.9 million for the nine