Company: VLDXW
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0000950170-25-005443
Chunk: 111

Company: Velo3D, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 8
Chunk 111
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 there was $17.8 million of unrecognized compensation cost, which is expected to be recognized over a weighted average period of approximately 2.5 years.  As of  September 30, 2023, there was $37.3 million of unrecognized compensation cost, which is expected to be recognized over a weighted average period of approximately 2.7 years.Earnout Shares––EmployeesThe Earnout Shares issuable to holders of employee stock options are accounted as stock-based compensation expense as they are subject to forfeiture based on the satisfaction of certain employment conditions. The estimated fair values of the Earnout Shares associated with vested stock options are recognized as an expense and determined by the Monte Carlo simulation valuation model using a distribution of potential outcomes on a monthly basis over the five-year earnout period. The portion of the Earnout Shares associated with unvested stock options are recognized as an expense and considers the vesting continuing employment requirements.Stock-based Compensation ExpenseThe following sets forth the total stock-based compensation expense by type of award included in operating expenses on the statements of operations: 

        Three Months EndedSeptember 30,

        Nine Months EndedSeptember 30,

        2024

        2023

        2024

        2023

        (In thousands)

        Restricted stock units
         
        $
        2,445

        $
        4,917

        $
        9,375

        $
        13,720

        Stock options

        16

        88

        115

        956

        Earnout shares–employees

        1,246

        1,711

        3,551

        4,810

        $
        3,707

        $
        6,716

        $
        13,041

        $
        19,486

27

The following sets forth the total stock-based compensation expense for the stock options, RSUs, and earnout shares - employees included in cost of revenue and operating expenses on the statements of operations: 

        Three Months EndedSeptember 30,

        Nine Months EndedSeptember 30,

        2024

        2023

        2024

        2023

        (In thousands)

        Cost of 3D Printer
         
        $
        228

        $
        —

        $
        886

        $
        —

        Cost of Support services

        249

        —

        582

        —