Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 15

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 conversion price of $15.00
per share. The January Note and February Note are referred to herein collectively as the (the “Secured Convertible Notes”).

Further,
the Company will need to engage in additional financings to fund its operations and satisfy its obligations in the near-term. The
Company is in discussions with multiple financing sources to attempt to secure additional financing. There are no assurances that
the Company will be able to obtain financing on acceptable terms, or at all, to provide the necessary interim funding to continue
its operations and satisfy its obligations for at least 12 months from the date of issuance of the unaudited condensed consolidated
interim financial statements.

Note
2. Summary of Significant Accounting Policies

For
a detailed discussion about the Company’s significant accounting policies and for further information on significant accounting
updates adopted in the prior year, see Note 2, Summary of Significant Accounting Policies, to the audited consolidated financial
statements in the 2024 Form 10-K. During the six months ended June 30, 2025, there were no significant updates to the Company’s
significant accounting policies other than as described below.

Recently
Issued Accounting Pronouncements

In
December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No.
2023-09 (“ASU 2023-09”), Income Taxes (Topic 740): Improvement to Income Tax Disclosures to enhance the transparency and
decision usefulness of income tax disclosures. Two primary enhancements related to this ASU include disaggregating existing income tax
disclosures relating to the effective tax rate reconciliation and income taxes paid. ASU 2023-09 is effective for annual periods beginning
after December 15, 2024 on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this accounting
standard update on the Company’s condensed consolidated interim financial statements and related disclosures.

In
November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation
Disclosures (Subtopic 220-40). This update contains amendments that require disclosure, in the notes to financial statements, of
specified information about certain costs and expenses. The amendments in this update are effective for public business entities for
annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption
is permitted. The