Velo3D, Inc. Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

9 Months Ended

Sep. 30, 2023

Total right-of-use (“ROU”) assets and lease liabilities are as follows:


	September 30,		December 31,
	2023		2022
	(In thousands)
Right-of-use assets:
Net book value (Other assets)	$	11,600	$	13,545
Operating lease liabilities:
Current (Accrued expense and other current liabilities)	$	2,201	$	2,410
Noncurrent (Other noncurrent liabilities)	10,399		12,201
	12,600		14,611
Financing lease liabilities:
Current (Accrued expense and other current liabilities)	$	43	$	35
Noncurrent (Other noncurrent liabilities)	56		5
	$	99	$	40
Total lease liabilities	$	12,699	$	14,651

Information about lease-related balances were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(In thousands, except years and percentages)				(In thousands, except years and percentages)
Operating lease expense	$	746	$	721	$	2,256	$	2,156
Financing lease expense	18		9		36		27
Short-term lease expense	78		95		250		262
Total lease expense	$	842	$	825	$	2,542	$	2,445
Cash paid for leases	$	710	$	689	$	2,116	$	1,653
Weighted – average remaining lease term – operating leases (years)	3.4		4.3		3.4		4.3
Weighted – average discount rate – operating leases	8.8%		8.6%		8.8%		8.6%

Maturity of operating lease liabilities as of September 30, 2023 are as follows:


	(In thousands)
Remainder of 2023	$	711
2024	2,860
2025	2,397
2026	2,402
2027	2,400
Thereafter	11,270
Total operating lease payments	$	22,040
Less portion representing imputed interest	(9,440)
Total operating lease liabilities	$	12,600
Less current portion	2,201
Long-term portion	$	10,399