Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 54

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 54
---
 forward-looking statements based upon our current expectations, estimates and projections,
and involves numerous risks and uncertainties. Actual results may differ materially from those contained in any forward-looking statements
due to, among other considerations, the matters discussed in the sections titled “Risk Factors” and “Forward-looking
Statements” herein. During the fiscal year ended December 31, 2024, we identified immaterial errors in our previously issued financial
statements. We have corrected the amounts as presented in this Item 2 accordingly. Refer to Notes 1 and 16 to the unaudited condensed
consolidated interim financial statements included in Part I of this Quarterly Report on Form 10-Q for additional information.

Overview

We
seek to fulfill the promise of additive manufacturing, also referred to as 3D printing (“AM”), to deliver breakthroughs in
performance, cost, and lead time in the production of high-value metal parts.

We
produce a fully integrated hardware and software solution based on our proprietary laser powder bed fusion (“L-PBF”) technology,
which greatly reduces and often eliminates the need for support structures. Our technology enables the production of highly complex,
mission-critical parts that existing AM solutions cannot produce without the need for redesign or additional assembly.

Our
Sapphire Family of Printers give our customers who are in space, aviation, defense, automotive, energy and industrial markets the freedom
to design and produce metal parts with complex internal features and geometries that had previously been considered impossible for AM.
We believe our technology is years ahead of competitors.

Our
technology is novel compared to other AM technologies because of its ability to deliver high-value metal parts that have complex internal
channels, structures, and geometries. This affords a wide breadth of design freedom for creating new metal parts and it enables replication
of existing parts without the need to redesign the part to be manufacturable with AM. Because of these features, we believe our technology
and product capabilities are highly valued by our customers. Our customers are primarily original equipment manufacturers (“OEMs”)
and contract manufacturers (“CMs”) who look to AM to solve issues with traditional metal parts manufacturing technologies.
Those traditional manufacturing technologies rely on processes, including casting, stamping and forging, that typically require high
volumes to drive competitive costs and have long lead times for production. Our customers look to AM solutions to produce assemblies
that are lighter, stronger, and more reliable than those manufactured with traditional technologies. Our customers also expect AM solutions
to drive lower costs for low-volume parts and substantially