Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 103

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 103
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15.0 million, consisting of proceeds of $15.0 million from the issuance of the January
Note and the February Note.

Net cash provided by financing activities
during the six months ended June 30, 2024 was $0.5 million, consisting of proceeds of $10.7 million from the capital raise, and $0.3
million from the issuance of common stock upon exercise of stock options, offset by the repayment of the secured notes of $10.5 million.

We expect cash provided by financing activities
to increase by issuing new equity or incurring new debt to continue operations, subject to our compliance with the covenants in the Secured
Notes. Our future cash requirements and the adequacy of available funds will depend on many factors, including our operating performance,
competitive and industry developments, and financial market conditions.

Cash Flows for the years ended December 31, 2024 and 2023

|                                           |     | Years Ended December 
 31,                  
 2024                 
 (In thousands)       |         |   |     | 2023 |          |   |     | Change |         |   |
|:------------------------------------------|:----|:---------------------|--------:|:--|:----|:-----|---------:|:--|:----|:-------|--------:|:--|
| Net cash used in operating activities     |     | $                    | (32,677 | ) |     | $    | (105,636 | ) |     | $      |  72,959 |   |
| Net cash provided by investing activities |     |                      |   7,767 |   |     |      |   38,891 |   |     |        | (31,124 | ) |
| Net cash provided by financing activities |     |                      |   1,460 |   |     |      |   59,261 |   |     |        | (57,801 | ) |

Operating Activities

Net cash used in operating activities for
the year ended December 31, 2024 was $32.7 million, consisting primarily of a net loss of $73.3 million, cash used from net operating
assets of $31.5 million, and non cash charges of $9.1 million. The cash used from operating assets was primarily comprised of accounts
payable of $0.1 million, accrued expenses and other current liabilities of $2.6 million, and other