Company: VLDXW
Filing Date: 2025-06-25
Form Type: DRS
Source: 0001641172-25-016496
Chunk: 188

Company: Velo3D, Inc.
Filing Date: 2025-06-25
Form: DRS
Chunk 188
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31, 2025 and March 31, 2024 (Unaudited)

| Balance                                                                               
 Sheets as of March 31, 2025 and 2024                                                  
 Statements                                                                            
 of Operations for the Three Months Ended March 31, 2025 and 2024                      |     | F-53 
 F-54 |
|:--------------------------------------------------------------------------------------|:----|:-----|
| Statements                                                                            
 of Cash Flows for the Nine Months Ended March 31, 2025 and 2024                       |     | F-55 |
| Statements                                                                            
 of Changes in Stockholders’ Equity for the Three Months Ended March 31, 2025 and 2024 |     | F-57 |
| Notes                                                                                 
 to Financial Statements                                                               |     | F-58 |

| 116 |

<div align='center'>Confidential Treatment Requested by Velo3D, Inc.

Pursuant to 17 CFR 200.83

Report of Independent Registered Public Accounting Firm</div>

To the Board of Directors and Stockholders of

Velo3D, Inc.

Opinion on the Consolidated Financial Statements

We have audited the accompanying consolidated balance sheet of Velo3D, Inc. and Subsidiaries (collectively, the “Company”) as of December 31, 2024, and the related consolidated statements of operations and comprehensive loss, stockholders’ equity, and cash flows, for the year then ended, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Company as of December 31, 2024, and the results of their operations and their cash flows as of and for the year ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.

Substantial Doubt about the Company’s Ability to Continue as a Going Concern

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the consolidated financial statements, the Company has incurred losses from operations and negative cash flows from operations since inception that raise substantial doubt about their ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 1. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion

These consolidated financial statements are the responsibility