Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 83

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 83
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 fiscal year in which we are deemed
to be a “large accelerated filer” under the rules of the SEC or (d) the date on which we have issued more than $1.0 billion
in nonconvertible debt securities during the previous three years.

Implications
of Being a Smaller Reporting Company

We
are a “smaller reporting company” as defined in Item 10(f)(1) of Regulation S-K. Smaller reporting companies may take advantage
of certain reduced disclosure obligations, including, among other things, providing only two years of audited consolidated financial
statements.

We
may continue to be a smaller reporting company even after we are no longer an emerging growth company. We will remain a smaller reporting
company and may take advantage of certain scaled disclosures available to smaller reporting companies until the last day of the fiscal
year in which (a) the market value of our voting and nonvoting common stock held by non-affiliates equals or exceeds $250.0 million measured
on the last business day of that year’s second fiscal quarter and (b) our annual revenue equals or exceeds $100.0 million during
the most recently completed fiscal year or our voting and nonvoting common stock held by non-affiliates equals or exceeds $700.0 million
measured on the last business day of that year’s second fiscal quarter.

44

Critical
Accounting Policies and Significant Estimates

Our
discussion and analysis of our financial condition and results of operations are based upon our unaudited condensed consolidated interim
financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America
(“U.S. GAAP”). We evaluated the development and selection of our critical accounting policies and estimates and believe that
the following involve a higher degree of judgment or complexity and are most significant to reporting our results of operations and financial
position and are therefore discussed as critical. The following critical accounting policies reflect the significant estimates and judgments
used in the preparation of our unaudited condensed consolidated interim financial statements. Actual results could differ materially
from those estimates and assumptions, and those differences could be material to our unaudited condensed consolidated interim financial
statements. We re-evaluate our estimates on an ongoing basis. For more information, see Note 2, Summary of Significant Accounting
Policies, included in the notes to the unaudited condensed consolidated interim financial statements in this Quarterly Report, and
Critical Accounting Policies and Significant Estimates in Part II, Item 7 “