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

Company: Velo3D, Inc.
Filing Date: 2025-06-25
Form: DRS
Chunk 25
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 enacted in the future.

The sale and support of our products entails the risk of product liability claims. Any product liability claim brought against us, regardless of our merit, could result in material expense, diversion of management time and attention, damage to our business and reputation and brand, and cause us to fail to retain existing customers or to fail to attract new customers.

| 15 |

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

Pursuant to 17 CFR 200.83</div>

The additive manufacturing industry in which we operate is characterized by rapid technological change, which requires us to continue to develop new products and innovations to meet constantly evolving customer demands and which could adversely affect market adoption of our products.

Our revenues are derived from the sale of additive manufacturing systems, parts and services. We have encountered and will continue to encounter challenges experienced by growing companies in a market subject to rapid innovation and technological change. While we intend to invest substantial resources to remain on the forefront of technological development, continuing advances in additive manufacturing technology, changes in customer requirements and preferences and the emergence of new standards, regulations and certifications could adversely affect adoption of our products either generally or for particular applications. Our ability to compete in the additive manufacturing market depends, in large part, on our success in developing and introducing new additive manufacturing systems and technology, in improving our existing products and technology and qualifying new materials which our systems can support. We believe that we must continuously enhance and expand the functionality and features of our products and technologies in order to remain competitive. However, we may not be able to:

| ● | develop                                                                                          
 cost effective new products and technologies that address the increasingly complex needs         
 of prospective customers;                                                                        |
| ● | enhance                                                                                          
 our existing products and technologies;                                                          |
| ● | respond                                                                                          
 to technological advances and emerging industry standards and certifications on a cost-effective 
 and timely basis;                                                                                |
| ● | adequately                                                                                       
 protect our IP as we develop new products and technologies;                                      |
| ● | identify                                                                                         
 the appropriate technology or product to which to devote our resources; or                       |
| ● | ensure                                                                                           
 the availability of cash resources to fund research and development (“R&D”).                     |

Even if we successfully introduce new additive manufacturing products and technologies and enhance our existing products and technologies, it is possible that these will eventually supplant our existing products or that our competitors will develop new products and technologies that will replace our own. As a result, any of our products may be rendered obsolete or uneconom