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

Leases (Tables)

9 Months Ended

Sep. 30, 2024

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


	September 30,		December 31,
	2024		2023
	(In thousands)
Right-of-use assets:
Net book value (Other assets)	$	8,041	$	10,672
Operating lease liabilities:
Current (Accrued expense and other current liabilities)	$	1,749	$	2,153
Noncurrent (Other noncurrent liabilities)		8,737		9,973
		10,486		12,126
Financing lease liabilities:
Current (Accrued expense and other current liabilities)	$	139	$	113
Noncurrent (Other noncurrent liabilities)		150		203
	$	289	$	316
Total lease liabilities	$	10,775	$	12,442

Information about lease-related balances were as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
	(In thousands, except years and percentages)
Operating lease expense	$	687		$	746		$	2,179		$	2,256
Financing lease expense		42			18			134			36
Short-term lease expense		40			78			148			242
Total lease expense	$	769		$	842		$	2,461		$	2,534
Cash paid for leases	$	691		$	710		$	2,189		$	2,116
Weighted – average remaining lease term – operating leases (years)		7.2			3.4			7.2			3.4
Weighted – average discount rate – operating leases		8.9	%		8.8	%		8.9	%		8.8	%

Maturity of operating lease liabilities as of September 30, 2024 are as follows:


	(In thousands)
Remainder of 2024	$	661
2025		2,390
2026		2,430
2027		2,400
2028		2,490
Thereafter		8,779
Total operating lease payments	$	19,150
Less portion representing imputed interest		(8,664	)
Total operating lease liabilities	$	10,486
Less current portion		1,749
Long-term portion	$	8,737