Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 88

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 88
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 fully remediate these material
weaknesses in our internal control over financial reporting until we have completed our remediation efforts and subsequent
evaluation of their effectiveness. We may also conclude that additional measures may be required to remediate the material
weaknesses in our internal control over financial reporting, which may necessitate additional implementation and evaluation time. We
will continue to assess the effectiveness of our internal control over financial reporting and take steps to remediate the known
material weaknesses expeditiously.

Changes
in Internal Control over Financial Reporting

Other
than as described above, there were no changes in internal control over financial reporting during the quarter ended June 30, 2025 that
have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

46

PART
II. OTHER INFORMATION

Item
1. Legal Proceedings 

From
time to time, we may be involved in various disputes and litigation matters that arise in the ordinary course of business. We are currently
not a party to any material legal proceedings.

Item
1A. RISK FACTORS

There
are numerous factors that affect our business and results of operations, many of which are beyond our control. Refer to Item 1A in our
Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which contains descriptions of significant risks that have the
potential to affect our business, financial condition, results of operations, cash flows, strategies or prospects in a material and adverse
manner. Except as set forth below, there have been no material changes to risk factors previously disclosed in Item 1A of our Annual
Report on Form 10-K for the fiscal year ended December 31, 2024.

Risks
Related to Our Financial Position and Need for Additional Capital

There
is substantial doubt about our ability to continue as a going concern, which is having a material adverse impact on our business.

As
of June 30, 2025, the Company had approximately $0.9 million in cash and short-term investments and $5.4 million in accounts receivable.
This amount is insufficient to satisfy the Company’s short term obligations including accounts payable of $14.9 million and $22.5 million
in Secured and Convertible Notes as of June 30, 2025.

As
described in Note 1, Description of Business and Basis of Presentation—Going Concern, Financial Condition and Liquidity and
Capital Resources, in the notes