Company: VLDXW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047760
Chunk: 24

Company: Velo3D, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 24
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 in repayment of the revolver facility, and $7.0 million in repayment of equipment loans.

 68

We expect cash provided by financing activities to increase by issuing new equity or incurring new debt to continue operations, subject to our compliance with the covenants in the Secured Notes. Our future cash requirements and the adequacy of available funds will depend on many factors, including our operating performance, competitive and industry developments, and financial market conditions.

Off-Balance Sheet Arrangements

As of December 31, 2024 and 2023, we did not have any off-balance sheet arrangements. 

Contractual Obligations

The table below summarizes our contractual obligations as of December 31, 2024:

    Payments Due by Period

    Less than1 year

    1 – 3 years

    3 – 5 years

    Total

    (In thousands)

    Operating leases
     
    $
    2,390

    $
    7,320

    $
    8,779

    $
    18,489

    Debt principal, interest and fees

    5,993

    —

    —

    5,993

    Purchase commitments

    3,200

    —

    —

    3,200

    Total contractual cash obligations
     
    $
    11,583

    $
    7,320

    $
    8,779

    $
    27,682

Purchase commitments (purchase orders) of $3.2 million for parts and assemblies are non-cancellable and are due upon receipts with standard payment terms and will be delivered throughout 2025.

Recent Accounting Pronouncements

For a description of recent accounting pronouncements, including the expected dates of adoption and estimated effects, if any, on our consolidated financial statements, Note 2, Summary of Significant Accounting Policies, in the notes to the audited consolidated financial statements in this Annual Report.

Implications of Being an Emerging Growth Company

Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can choose not to take advantage of the extended transition period and comply with the requirements that apply to non-emerging growth companies, and any such election to not take advantage of the extended transition period is irrevoc