Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 301

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 301
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 | $                         | 19,020 |     | $    | 19,476 |
| Europe   |     |                             |  2,748 |     |      |    176 |     |                           |  3,684 |     |      |    501 |
| Other    |     |                             |     93 |     |      |     65 |     |                           |    188 |     |      |    153 |
| Total    |     | $                           | 13,572 |     | $    | 10,344 |     | $                         | 22,892 |     | $    | 20,130 |

Contract Assets and Liabilities

There was $ 0.4million and $ 0.9million of revenue recognized during the three and six months ended June 30, 2025, respectively, included in contract liabilities as of December 31, 2024. The amount of revenue recognized during the three and six months ended June 30, 2024 included in contract liabilities as of December 31, 2023 was $ 0.8million and $ 1.6million, respectively. The change in contract assets reflects the difference in timing between the Company’s satisfaction of remaining performance obligations and the Company’s contractual right to bill its customers. The Company had no material asset impairment charges related to contract assets in the periods presented.

Variable Consideration

The Company estimates its variable consideration on a quarterly basis based on the latest data available, and adjusts the transaction price accordingly by recording an adjustment to net revenue and contract assets. The Company has recognized the estimate of variable consideration to the extent that it is probable that a significant reversal will not occur as a result of a change in estimation. There was no revenue related to variable consideration during the three months ended June 30, 2025 and 2024. There was norevenue related to variable consideration during the six months ended June 30, 2025 and 2024.

| F-77 |

Note 16. Momentus Master Service Agreement

On April 12, 2025, the Company entered into a Master Service Agreement (“MSA”) with Momentus, Inc. (“Momentus”). Under the terms of the MSA, for a period of five years, Velo3D will provide consulting and parts production through Velo3D’s Rapid Production Solutions (“RPS”) offering. Momentus is entitled to services equal to the equivalent capacity of two Velo