Velo3D, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Fair Value Measures and Disclosures (Tables)

Fair Value Measures and Disclosures (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

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


	Fair Value Measured as of December 31, 2024
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
Money market funds (i)		215		—		—		215
Total financial assets	$	215	$	—	$	—	$	215
Liabilities
Common stock warrant liabilities (2022 Private Warrant) (iii)	$	—	$	—	$	1	$	1
Common stock warrant liabilities (RDO Warrants) (iii)		—		—		90		90
Common stock warrant liabilities (Placement Agent Warrants) (iii)		—		—		16		16
Common stock warrant liabilities (2024 Private Warrants) (iii)		—		—		378		378
Common stock warrant liabilities (BEPO Warrants) (iii)		—		—		18		18
Common stock warrant liabilities (BEPO Agent Warrants) (iii)		—		—		2		2
Common stock warrant liabilities (July 2024 Private Warrants) (iii)		—		—		865		865
Common stock warrant liabilities (August Inducement Warrants) (iii)		—		—		796		796
Contingent earnout liabilities		—		—		11		11
Total financial liabilities	$	—	$	—	$	2,177	$	2,177

	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) (iii)	$	258	$	—	$	—	$	258
Common stock warrant liabilities (Private Placement) (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 consolidated balance sheets.

(ii)

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

(iii)

Included in warrant liabilities on the consolidated balance sheets.

Summary of Changes in Fair Value of Level 3 Financial Instruments

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		$	—		$	—		$	—		$	—		$	—
Issuance of instruments		—			—			—			—			—			—			6,321			9,020			446			4,200			2,437
Change in fair value		(127	)		(22	)		(1,445	)		—			(10,801	)		(520	)		(6,319	)		(8,642	)		(428	)		(3,335	)		(1,641	)
Fair value as of December 31, 2024	$	—		$	1		$	11		$	—		$	90		$	16		$	2		$	378		$	18		$	865		$	796

Fair value as of January 1, 2023	$	888		$	109		$	17,414		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Issuance of instruments		—			—			—			13,890			10,891			536			—			—			—			—			—
Change in fair value		(761	)		(86	)		(15,958	)		(8,485	)		—			—			—			—			—			—			—
Extinguishment of debt derivatives in connection with debt extinguishment		—			—			—			(5,405	)		—			—			—			—			—			—			—
Fair value as of December 31, 2023	$	127		$	23		$	1,456		$	—		$	10,891		$	536		$	—		$	—		$	—		$	—		$	—