Company: VLDXW
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0000950170-25-005443
Chunk: 97

Company: Velo3D, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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 received as of September 30, 2024 are as follows: 

        (In thousands)

        Remainder of 2024
         
        $
        500

        2025

        1,167

        2026

        —

        2027

        —

        2028

        —

        Thereafter

        —

        Total lease payments to be received
         
        $
        1,667

Note 8. LeasesThe Company leases its office and manufacturing facilities under four non-cancellable operating leases, including options to extend, which expire between 2024 to 2032. The agreements include a provision for renewal at the then prevailing market rate for terms specified in each lease.As noted above in Note 6, Balance Sheet Components, the manufacturing facility operating lease at Campbell (McGlincy) was terminated during the quarter ended March 31, 2023, and is no longer in use. The Company’s right-of-use assets and lease liabilities related to McGlincy were amortized in full over the life of the lease. Additionally, the Company exited from its two facilities at Campbell (Division) during the quarter ended December 31, 2023, which are no longer in use, however the lease agreements have not been terminated as of September 30, 2024.Total right-of-use (“ROU”) assets and lease liabilities are as follows: 

        September 30,

        December 31,

        2024

        2023

        (In thousands)

        Right-of-use assets:

        Net book value (Other assets)
         
        $
        8,041

        $
        10,672

        Operating lease liabilities:

        Current (Accrued expense and other current liabilities)
         
        $
        1,749

        $
        2,153

        Noncurrent (Other noncurrent liabilities)

        8,737

        9,973

        10,486

        12,126

        Financing lease liabilities:

        Current (Accrued expense and other current liabilities)
         
        $
        139

        $
        113

        Noncurrent (Other noncurrent liabilities)

        150

        203

        $
        289

        $
        316

        Total lease liabilities
         
        $
        10,775

        $
        12,442

       There were no impairments recorded related to these assets as of