Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 80

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 80
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    Net cash provided by financing activities 
    $15,000  
    $490  
    $14,510 

Operating
Activities 

Net cash used in operating activities for the six months ended June 30, 2025 was $13.6 million, consisting primarily
of a net loss of $39.2 million, non-cash loss of $25.9 million described below, and a decrease in net operating assets of less than $0.3
million. The cash used from net operating assets was comprised of a decrease from accounts receivable of $1.7 million, a decrease from
contract liabilities of $3.6 million, a decrease from accounts payable of $0.9 million, a decrease from other net operating assets of
$1.8 million, and offset by an increase from inventories of $5.7 million, and an increase from other assets of $2.0 million. The non-cash
loss of $25.9 million primarily consisted of the loss on cancellation of warrants of $11.4 million, stock-based compensation expense of
$6.5 million, the loss on the disposal of fixed assets of $2.7 million, and the loss on fair value of warrants of $1.0 million.

Net
cash used in operating activities for the six months ended June 30, 2024 was $28.5 million, consisting primarily of a net loss of $28.5
million, non-cash gain of $2.4 million described below, and an increase in net operating assets of $2.3 million. The increase in net
operating assets was comprised of an increase from accounts receivable of $1.2 million due to timing of customer payments, an increase
from inventories of $3.9 million for Sapphire XC, Sapphire 1MZ and Sapphire XC 1MZ system production, and an increase from prepaid expenses
of $1.9 million related to insurance and vendor prepayments, offset by a decrease from accounts payable of $2.4 million, a decrease from
contract liabilities of $0.3 million, a decrease from other net operating assets of $1.3 million, and a decrease in accrued expenses
and other current liabilities of $0.6 million. The noncash gain of $2.4 million primarily consisted of the gain on fair value of
warrants of $22.7 million, and the gain on fair value of contingent earnout liabilities of $1.4