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

Leases (Tables)

3 Months Ended

Mar. 31, 2024

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


	March 31,		December 31,
	2024		2023
	(In thousands)
Right-of-use assets:
Net book value (Other assets)	$	10,237	$	10,672
Operating lease liabilities:
Current (Accrued expense and other current liabilities)	$	1,986	$	2,153
Noncurrent (Other noncurrent liabilities)	9,558		9,973
	11,544		12,126
Financing lease liabilities:
Current (Accrued expense and other current liabilities)	$	133	$	113
Noncurrent (Other noncurrent liabilities)	221		203
	$	354	$	316
Total lease liabilities	$	11,898	$	12,442

Information about lease-related balances were as follows:


	Three Months Ended March 31,
	2024		2023
	(In thousands, except years and percentages)
Operating lease expense	$	733	$	764
Financing lease expense	49		9
Short-term lease expense	68		84
Total lease expense	$	850	$	857
Cash paid for leases	$	746	$	706
Weighted – average remaining lease term – operating leases (years)	7.6		3.8
Weighted – average discount rate – operating leases	8.9%		8.7%

Maturity of operating lease liabilities as of March 31, 2024 are as follows:


	(In thousands)
Remainder of 2024	$	2,091
2025	2,390
2026	2,430
2027	2,400
2028	2,490
Thereafter	8,779
Total operating lease payments	$	20,580
Less portion representing imputed interest	(9,036)
Total operating lease liabilities	$	11,544
Less current portion	1,986
Long-term portion	$	9,558