Company: VLDXW
Filing Date: 2025-06-25
Form Type: DRS
Source: 0001641172-25-016496
Chunk: 253

Company: Velo3D, Inc.
Filing Date: 2025-06-25
Form: DRS
Chunk 253
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 |  (2.4 | )% |
| Research and development credits |     |                     |       — |   |     |     — | %  |     |      |  (1,121 | ) |     |  (0.8 | )% |
| Section 382 Limitation           |     |                     |  14,583 |   |     |  19.8 | %  |     |      |         |   |     |       |    |
| Other                            |     |                     |    (745 | ) |     |  (1.0 | )% |     |      |     675 |   |     |   0.2 | %  |
| Change in valuation allowance    |     |                     |  (6,939 | ) |     |  (9.4 | )% |     |      |  37,895 |   |     |  28.1 | %  |
| Total                            
 provision for income taxes       |     | $                   |     (20 | ) |     |     — | %  |     | $    |       — |   |     |     — | %  |

The Company did not incur income tax expense or benefit for the years ending December 31, 2024 or December 31, 2023.

| F-47 |

<div align='center'>Confidential Treatment Requested by Velo3D, Inc.

Pursuant to 17 CFR 200.83

Velo3D, Inc.

Notes to Consolidated Financial Statements</div>

Deferred income taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The components of deferred tax assets and liabilities are as follows:

| Deferred tax assets                                 |     | December       
 31,            
 2024           
 (In thousands) |          |   |     | 2023 |          |   |
|:----------------------------------------------------|:----|:---------------|---------:|:--|:----|:-----|---------:|:--|
| Net operating loss carryforwards                    |     | $              |   81,649 |   |     | $    |   91,668 |   |
| Research and development tax credits                |     |                |    5,086 |   |     |      |   12,087 |   |
| Stock based compensation                            |     |