Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 66

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 66
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 of $3.4
million. The increase in revenue was primarily attributed to the product mix and the number of systems sold. The 3D Printer sales also
included printed parts and consumables revenue.

Recurring
Payment revenue, structured as an operating lease, was less than $0.1 million for the three months ended June 30, 2025 and $0.3 million
for the three months ended June 30, 2024. The decrease was primarily attributable to a revenue reduction related to fewer operating lease
transactions.

Our
Support Services revenue was $1.4 million and $1.4 million for the three months ended June 30, 2025 and 2024, respectively, a decrease
of less than $0.1 million. Support Services revenue remained consistent primarily due to services provided to customers.

Other
revenue was less than $0.1 million and $0.0 for the three months ended June 30, 2025 and 2024, respectively.

Cost
of Revenue

The
following table presents the Cost of Revenue disaggregated by product and service type, as well as the percentage of total cost of revenue.

    Three Months Ended June 30,  

    2025  
    2024  
    Change  
    % 

    (In thousands, except for percentages) 
  
    Cost of Revenue 

    Cost of 3D Printers 
    $13,994  
     92.3% 
    $10,744  
     81.1% 
    $3,250  
     30.2%
  
    Cost of Recurring Payment 
     —  
     —  
     232  
     1.8% 
     (232) 
     (100.0)%
  
    Cost of Support Services 
     1,166  
     7.7% 
     2,265  
     17.1% 
     (1,099) 
     (48.5)%
  
    Total Cost of Revenue 
    $15,160  
     100.0% 
    $13,241  
     100.0% 
    $1,919  
     14.5%

Total
cost of revenue for the three months ended June 30, 2025 and 2024 was $15.2 million and $13.