Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 79

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 79
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 repay, restructure
or refinance our existing indebtedness, or electing to borrow additional amounts under new credit lines or from other sources. We may
also seek to raise additional capital, including from offerings of our equity or debt securities, on an opportunistic basis when we believe
there are suitable opportunities for doing so.

Additionally,
our recent and projected financial results, and the related conditions that raise substantial doubt about our ability to continue as
a going concern, and general concerns among potential investors and creditors about our financial well-being, may make securing additional
financing and cost cutting activities on commercially reasonable terms or in an amount sufficient to fund our operations for at least
12 months especially difficult.

More
generally, our ability to meet our cash requirements depends on, among other things, our operating performance, competitive and industry
developments, and financial market conditions, all of which are significantly affected by business, financial, economic, political, and
other factors, many of which we may not be able to control or influence. To the extent that our actual operating results or other developments
differ from our expectations, our liquidity will continue to be adversely affected.

Debt
Facilities

As
of June 30, 2025, our debt arrangements comprised the Secured Notes, the January Notes, and the February Notes, of which we had approximately
$22 million aggregate principal amount outstanding as of June 30, 2025.

See
our other debt facilities as described in the “Liquidity and Capital Resources” section above. 

We
do not hedge our exposure to changes in interest rates. A 10% change in interest rates would not have a material impact on annualized
interest expense.

For
more information, see Note 9, Debt, in the notes of the unaudited condensed consolidated interim financial statements included
elsewhere in this Quarterly Report.

42

Cash
Flow Summary

The
following table summarizes our cash flows for the six months ended June 30, 2025 and 2024:

    Six Months Ended June 30,  

    2025  
    2024  
    Change 

    (In thousands)  

    Net cash used in operating activities 
    $(13,565) 
    $(28,492) 
    $14,927 
  
    Net cash (used in) provided by investing activities 
    $(1,799) 
    $5,966  
    $(7,765)