Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 49

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 paycheck date in the month
following the month of eligibility described above. Employee and employer contributions are immediately 100% fully vested. The plans
offer employer contributions of 3.0% of an employee’s eligible compensation following safe-harbor rules. The Company’s contribution
to the 401(k) Plan was $0.2 million and $0.3 million for the three months ended June 30, 2025 and 2024, respectively, and $0.3 million
and $0.5 million for the six months ended June 30, 2025 and 2024, respectively. The Company has paid all matching contributions as of
June 30, 2025.

    26

Note
15. Revenue

Customer
Concentration

The
customer concentration for balances greater than 10% of revenues and 10% of accounts receivables, net, respectively, are presented below:

 Schedule
of Concentration of Risk

    Total Revenue  
    Accounts Receivable, Net 

    Three Months Ended June 30,  
    Six Months Ended June 30,  
    June 30,  
    December 31, 

    2025  
    2024  
    2025  
    2024  
    2025  
    2024 

    (as a percentage) 
  
    Customer 1 
     30.5% 
     —% 
     18.1% 
     <10% 
     —% 
     —%
  
    Customer 2 
     20.1% 
     <10% 
     15.9% 
     <10% 
     <10% 
     <10%
  
    Customer 3 
     14.6% 
     24.0% 
     20.6% 
     25.4% 
     <10% 
     <10%
  
    Customer 4 
     <10% 
     —% 
     14.3% 
     <10% 
     <10% 
     —%
  
    Customer 5 
     <10% 
     26.5% 
     <10% 
     20.1% 
     <10% 
     <10%
  
    Customer 6 
     —%