Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 24

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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    (In thousands) 
  
    Raw materials 
    $30,024  
    $29,386 
  
    Work-in-progress 
     3,076  
     9,660 
  
    Finished goods 
     5,317  
     10,907 
  
    Total 
    $38,417  
    $49,953 

The
Company recorded $24.1 million and $27.1 million in inventory reserves related to the valuation of inventory as of June 30, 2025 and
December 31, 2024, respectively.

Prepaid
Expenses and Other Current Assets

Prepaid
expenses and other current assets consisted of the following:

 Schedule
of Prepaid Expenses and Other Current Assets

    June 30,  
    December 31, 

    2025  
    2024 

    (In thousands) 
  
    Prepaid insurance and other 
    $1,706  
    $1,724 
  
    Vendor prepayments 
     1,077  
     612 
  
    Total 
    $2,783  
    $2,336 

Property
and Equipment, Net

Property
and equipment, net consisted of the following:

 Schedule
of Property and Equipment, Net

    June 30,  
    December 31, 

    2025  
    2024 

    (In thousands) 
  
    Computers and software 
    $2,525  
    $2,525 
  
    Lab equipment and other equipment 
     13,395  
     11,011 
  
    Furniture and fixtures 
     206  
     206 
  
    Leasehold improvements 
     13,379  
     13,312 
  
    Construction in progress 
     88  
     — 
  
    Total property, plant and equipment 
     29,593  
     27,054 
  
    Less accumulated depreciation and amortization 
     (14,392) 
     (12,784)
  
    Property, plant and equipment, net 
    $15,201  
    $14,270 

Depreciation
expense for the three months ended June 30, 2025 and 2024 was $0.8 million and $1.1 million, respectively. Depreciation expense for the
six