Company: VLDXW
Filing Date: 2025-06-25
Form Type: DRS
Source: 0001641172-25-016496
Chunk: 276

Company: Velo3D, Inc.
Filing Date: 2025-06-25
Form: DRS
Chunk 276
---
 | $            | 1,173 |
| Accrued salaries and benefits |     |                |   379 |     |              |   560 |
| Lease liability – current     
 portion                       |     |                | 1,736 |     |              | 1,778 |
| Total Accrued expenses        
 and other current liabilities |     | $              | 3,762 |     | $            | 3,511 |

Other Noncurrent Liabilities

Other noncurrent liabilities consisted of the following:

|                                |     | March 31,      
 2025           
 (In thousands) |       |     | December 31, 
 2024         |       |
|:-------------------------------|:----|:---------------|------:|:----|:-------------|------:|
| Lease liabilities – noncurrent 
 portion                        |     | $              | 8,044 |     | $            | 8,475 |
| Other noncurrent liabilities   |     |                | 1,050 |     |              |   863 |
| Total other noncurrent         
 liabilities                    |     | $              | 9,094 |     | $            | 9,338 |

Note 7. Equipment on Lease, Net

The equipment leased to customers had a cost basis of $4.6 million and accumulated depreciation of $0.9 million as of March 31, 2025. The equipment leased to customers had a cost basis of $4.6 million and accumulated depreciation of $0.9 million as of December 31, 2024.

The total depreciation expense was $0 and $0.3 million included in cost of revenue for the three months ended March 31, 2025 and 2024, respectively.

Lease payments from customers consisted of the following:

|                             |     | Three                  
 Months Ended March 31, 
 2025                   
 (In                    
 thousands)             |   |     | 2024 |     |
|:----------------------------|:----|:-----------------------|:--|:----|:-----|----:|
| Equipment on lease payments |     | $                      | — |     | $    | 470 |

The future lease payments expected in 2025 are $1.1 million.

Note 8. Leases

The Company leases its office and manufacturing facilities under four non-cancellable operating leases, including options to extend, which expire between 2025 to 2032. The