Company: VLDXW
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0000950170-25-005443
Chunk: 44

Company: Velo3D, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 Payment and Support Service revenue to increase as the number of systems we have in service increases. As of September 30, 2024, our backlog for firm orders was $21 million for 3D Printers compared to $13 million as of December 31, 2023. 

In connection with our realignment strategy, we are taking a strategic approach to our marketing and selling efforts to provide an improved customer experience, which we expect will enhance our efforts to introduce our technology to new customers and expand our existing customer network to increase demand. 

Cost of Revenue

The following table presents the Cost of Revenue disaggregated by product and service type, as well as the percentage of total cost of revenue.

    Three Months Ended September 30,

    ​
     
    2024
     
    2023
     
    Change
     
    %

    ​
     
    (In thousands, except for percentages)

    Cost of Revenue

    Cost of 3D Printers
     
    $2,224
     
    53.3%
     
    $20,772
     
    90.3%
     
    $(18,548)
     
    (89.3)%

    Cost of Recurring Payment
     
    195
     
    4.7%
     
    111
     
    0.5%
     
    84
     
    75.7%

    Cost of Support Services
     
    1,757
     
    42.1%
     
    2,121
     
    9.2%
     
    (364)
     
    (17.2)%

    Total Cost of Revenue
     
    $4,176
     
    100.0%
     
    $23,004
     
    100.0%
     
    $(18,828)
     
    (81.8)%

Total cost of revenue for the three months ended September 30, 2024 and 2023 was $4.2 million and $23.0 million, respectively, a decrease of $18.8 million, or 81.8%. 

Cost of 3D Printers was $2.2 million and $20.8 million for the three months ended September 30, 2024 and 2023, respectively. The decrease of $18.5 million was due to a decrease