Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 81

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 81
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 million, offset by the stock-based compensation
expense of $9.3 million, depreciation and amortization of $2.7 million, amortization of debt discount and deferred financing costs of
$8.3 million and non-cash cost of issuance of common stock warrants in connection with the BEPO Offering of $1.3 million.

We
expect our cash used in operating activities to decrease, driven by our efforts to stabilize our working capital requirements through
our expense reduction efforts and overall enterprise efficiency improvement programs.

Investing
Activities 

Net
cash used by investing activities during the six months ended June 30, 2025 was $1.8 million, consisting of purchases of property and
equipment of $1.8 million.

Net
cash provided by investing activities during the six months ended June 30, 2024 was $6.0 million, consisting of the sale of available
for sale securities of $2.5 million, and maturities of available-for-sale investment securities of $3.5 million.

We
expect our capital expenditures to increase in 2025 compared to 2024 as we invest in printer capacity and related facilities for RPS.

Financing
Activities 

Net cash provided by financing activities during the six months ended June
30, 2025 was $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.

43

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.

Off-Balance
Sheet Arrangements

As
of June 30, 2025 and December 31, 2024, except as discussed below, we did not have any off-balance sheet arrangements.

See
Note 16, Momentus Master Service Agreement, in the notes to our unaudited condensed consolidated interim financial statements
included elsewhere