Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 89

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 89
---
 to the unaudited condensed consolidated interim financial statements included elsewhere in this Quarterly
Report, we believe there is substantial doubt about our ability to continue as a going concern for the twelve-month period following
the filing date of this Quarterly Report.

Our
conclusion that there is substantial doubt about our ability to continue as a going concern may be viewed unfavorably by current and
prospective investors, as well as by analysts and creditors. As a result, this conclusion may make it more difficult for us to raise
the additional financing necessary to continue to operate our business and satisfy our obligations. In addition, this conclusion may
make it more difficult for us to sell our products and meet our sales forecasts or retain employees, which may further impede our ability
to raise additional financing. If we become unable to continue as a going concern, we may find it necessary to file a petition for reorganization
under Title 11 of the U.S. Code in order to provide us additional time to identify an appropriate solution to our financial situation
and implement a plan of reorganization aimed at improving our capital structure.

This
conclusion has caused customers to delay 3D printer orders until our financial condition improves, resulting in delays in 3D printer
sales and difficulty building our bookings and backlog pipeline. Additionally, due to our inability to satisfy our accounts payable obligations,
we are unable to secure credit terms and volume discounts with our suppliers, causing us to have to pay a premium and/or in advance,
for components of our products and/or source components from alternate suppliers at unfavorable terms. Further delaying payments to our
suppliers may cause them to terminate our business relationship or pursue legal action against our Company for amounts owed. The Company
will need to consider and implement significant cost cutting measures, including further reductions in force. These activities may limit
our ability to conduct or grow our business, and may make retaining our employees more difficult, resulting in further employee attrition.

47

We
expect to require additional capital to fund our operations in the near-term, and such capital might not be available on acceptable
terms, if at all.

We
expect that we will need to engage in additional financings to fund our operations and satisfy our substantial debt obligations in the
near-term as well as to respond to business challenges and opportunities, including the need to repay our Secured Notes, provide working
capital, continuing to fund payroll, develop new features or enhance our products, expand our manufacturing capacity, improve our operating
infrastructure or acquire complementary businesses and