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

Fair Value Measures and Disclosures (Tables)

9 Months Ended

Sep. 30, 2024

The Company’s assets and liabilities that were measured at fair value on a recurring basis were as follows:


	Fair Value Measured as of September 30, 2024
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
Money market funds (i)	$	1,347	$	—	$	—	$	1,347
Total financial assets	$	1,347	$	—	$	—	$	1,347
Liabilities
Common stock warrant liabilities (2022 Private Warrant) (iii)		—		—		1		1
Common stock warrant liabilities (RDO Warrants) (iii)		—		—		102		102
Common stock warrant liabilities (Placement Agent Warrants) (iii)		—		—		18		18
Common stock warrant liabilities (2024 Private Warrants) (iii)		—		—		418		418
Common stock warrant liabilities (BEPO Warrants) (iii)		—		—		20		20
Common stock warrant liabilities (BEPO Agent Warrants) (iii)		—		—		21		21
Common stock warrant liabilities (July 2024 Private Warrants) (iii)		—		—		910		910
Common stock warrant liabilities (August Inducement Warrants) (iii)		—		—		860		860
Contingent earnout liabilities		—		—		11		11
Total financial liabilities	$	—	$	—	$	2,361	$	2,361


	Fair Value Measured as of December 31, 2023
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
Money market funds (i)	$	3,422	$	—	$	—	$	3,422
Corporate bonds (ii)		—		6,621		—		6,621
Total financial assets	$	3,422	$	6,621	$	—	$	10,043
Liabilities
Common stock warrant liabilities (Public Warrants) (iii)	$	258	$	—	$	—	$	258
Common stock warrant liabilities (Private Placement Warrants) (iii)		—		—		127		127
Common stock warrant liabilities (2022 Private Warrant) (iii)		—		—		23		23
Common stock warrant liabilities (RDO Warrants) (iii)		—		—		10,891		10,891
Common stock warrant liabilities (Placement Agent Warrants) (iii)		—		—		536		536
Contingent earnout liabilities		—		—		1,456		1,456
Total financial liabilities	$	258	$	—	$	13,033	$	13,291

(i)

Included in cash and cash equivalents on the condensed consolidated balance sheets.

(ii)

Included in short-term investments on the condensed consolidated balance sheets.

(iii)

Included in warrant liabilities on the condensed consolidated balance sheets.

The following table presents a summary of the changes in the fair value of the Company’s Level 3 financial instruments:


	Private placement warrant liabilities			2022 Private Warrant			Contingent earnout liabilities			Debt derivatives		RDO Warrants			Placement Agent Warrants			2024 Private Warrants			BEPO Warrants			BEPO Agent Warrants			July 2024 Private Warrants			August Inducement Warrants
	(In thousands)
Fair value as of January 1, 2024	$	127		$	23		$	1,456		$	—	$	10,891		$	536		$	—		$	—		$	—		$	—		$	—
Change in fair value		114			5			437			—		2,162			108			—			—			—			—			—
Fair value as of March 31, 2024	$	241		$	28		$	1,893		$	—	$	13,053		$	644		$	—		$	—		$	—		$	—		$	—
Issuance of instruments		—			—			—			—		—			—			6,321			9,020			446			-			-
Change in fair value		(217	)		(23	)		(1,824	)		—		(11,016	)		(544	)		(5,948	)		(6,784	)		(336	)		-			-
Fair value as of June 30, 2024	$	24		$	5		$	69		$	—	$	2,037		$	100		$	373		$	2,236		$	110		$	0		$	0
Issuance of instruments		—			—			—			—		—			—			—			—			—		$	4,200		$	2,437
Change in fair value		(24	)		(4	)		(58	)		—		(1,935	)		(82	)		(352	)		(1,818	)		(90	)		(3,290	)		(1,577	)
Fair value as of September 30, 2024	$	0		$	1		$	11		$	—	$	102		$	18		$	21		$	418		$	20		$	910		$	860


	Private placement warrant liabilities			2022 Private Warrant			Contingent earnout liabilities			Debt derivatives		RDO Warrants		Placement Agent Warrants		2024 Private Warrants		BEPO Warrants		BEPO Agent Warrants
	(In thousands)
Fair value as of January 1, 2023	$	888		$	109		$	17,414		$	—	$	—	$	—	$	—	$	—	$	—
Change in fair value		869			37			9,653			—		—		—		—		—		—
Fair value as of March 31, 2023	$	1,757		$	146		$	27,067		$	—	$	—	$	—	$	—	$	—	$	—
Change in fair value		(269	)		(6	)		(1,843	)		—		—		—		—		—		—
Fair value as of June 30, 2023	$	1,488		$	140		$	25,224		$	—	$	—	$	—	$	—	$	—	$	—
Change in fair value		(554	)		(41	)		(10,810	)		17,538		—		—		—		—		—
Fair value as of September 30, 2023	$	934		$	99		$	14,414		$	17,538	$	—	$	—	$	—	$	—	$	—