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]

Leases (Tables)

Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Assets and Liabilities

Total ROU assets and lease liabilities are as follows:


		December 31,
		2024				2023
		(In thousands)
Right-of-use assets:
Net book value (Other assets)		$	8,774			$	10,672
Operating lease liabilities:
Current (Accrued expense and other current liabilities)		$	1,612			$	2,153
Noncurrent (Other noncurrent liabilities)			8,361				9,973
			9,973				12,126
Financing lease liabilities:
Current (Accrued expense and other current liabilities)		$	142			$	113
Noncurrent (Other noncurrent liabilities)			114				203
		$	256			$	316
Total lease liabilities		$	10,229			$	12,442

Lease-Related Balances

Information about lease-related balances were as follows:


		December 31,
		2024				2023
		(In thousands, except years and percentages)
Operating lease expense		$	2,830			$	3,002
Financing lease expense			175				80
Short-term lease expense			195				314
Total lease expense		$	3,200			$	3,396
Cash paid for leases		$	2,850			$	2,827
Weighted – average remaining lease term – operating leases (years)			7.1				7.8
Weighted – average discount rate – operating leases			9.0	%			8.8	%

Future Minimum Operating Lease Payments

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


		(In thousands)
2025			2,390
2026			2,430
2027			2,400
2028			2,490
2029			2,585
Thereafter			6,194
Total operating lease payments		$	18,489
Less portion representing imputed interest			(8,516	)
Total operating lease liabilities		$	9,973
Less current portion			1,612
Long-term portion		$	8,361