| Summary of Revisions to Previously Issued Financial Statements |
The
following table reflects the revisions to the previously issued Condensed Consolidated Balance Sheet as of September 30, 2024:
Summary
of Revisions to Previously Issued Financial Statements
| |
|
As
Previously
Reported
|
|
|
Adjusted |
|
|
As
Revised |
|
| |
|
September
30, 2024 |
|
| |
|
As
Previously
Reported
|
|
|
Adjusted |
|
|
As
Revised |
|
| |
|
(In
thousands) |
|
| |
|
|
|
|
|
|
|
|
|
| Debt
– current portion |
|
$ |
29,602 |
|
|
$ |
267 |
|
|
$ |
29,869 |
|
| Total
current liabilities |
|
|
63,402 |
|
|
|
267 |
|
|
|
63,669 |
|
| Total
liabilities |
|
$ |
76,100 |
|
|
$ |
267 |
|
|
$ |
76,367 |
|
| Accumulated
deficit |
|
$ |
(408,381 |
) |
|
$ |
(267 |
) |
|
$ |
(408,648 |
) |
| Total
stockholders’ equity |
|
|
34,687 |
|
|
|
(267 |
) |
|
|
34,420 |
|
| Total
liabilities and stockholders’ equity |
|
$ |
110,787 |
|
|
$ |
- |
|
|
$ |
110,787 |
|
The
following table reflects the revisions to the previously issued Condensed Consolidated Statement of Operations and Comprehensive Income
(Loss) for the three months ended September 30, 2024:
| |
|
As
Previously Reported |
|
|
Adjusted |
|
|
As
Revised |
|
|
As
Previously Reported |
|
|
Adjusted |
|
|
As
Revised |
|
| |
|
For
the three months ended September 30, 2024 |
|
|
For
the nine months ended September 30, 2024 |
|
| |
|
As
Previously Reported |
|
|
Adjusted |
|
|
As
Revised |
|
|
As
Previously Reported |
|
|
Adjusted |
|
|
As
Revised |
|
| |
|
(In
thousands) |
|
|
(In
thousands) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| General
and administrative |
|
$ |
15,279 |
|
|
$ |
131 |
|
|
$ |
15,410 |
|
|
$ |
32,867 |
|
|
$ |
131 |
|
|
$ |
32,998 |
|
| Total
operating expenses |
|
|
22,816 |
|
|
|
131 |
|
|
|
22,947 |
|
|
|
59,074 |
|
|
|
131 |
|
|
|
59,205 |
|
| Loss
from operations |
|
|
(18,745 |
) |
|
|
131 |
|
|
|
(18,876 |
) |
|
|
(60,715 |
) |
|
|
131 |
|
|
|
(60,846 |
) |
| Interest
expense |
|
|
(10,949 |
) |
|
|
7,389 |
|
|
|
(3,560 |
) |
|
|
(20,309 |
) |
|
|
7,389 |
|
|
|
(12,920 |
) |
| Loss
on debt extinguishment |
|
|
— |
|
|
|
(7,525 |
) |
|
|
(7,525 |
) |
|
|
— |
|
|
|
(7,525 |
) |
|
|
(7,525 |
) |
| Net
loss |
|
$ |
(22,858 |
) |
|
$ |
(267 |
) |
|
$ |
(23,125 |
) |
|
$ |
(51,344 |
) |
|
$ |
(267 |
) |
|
$ |
(51,611 |
) |
| Net loss per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
$ |
(37.11 |
) |
|
$ |
(0.43 |
) |
|
$ |
(37.54 |
) |
|
$ |
(91.35 |
) |
|
$ |
(0.47 |
) |
|
$ |
(91.82 |
) |
| Diluted |
|
$ |
(37.11 |
) |
|
$ |
(0.43 |
) |
|
$ |
(37.54 |
) |
|
$ |
(91.35 |
) |
|
$ |
(0.47 |
) |
|
$ |
(91.82 |
) |
| Net
loss |
|
$ |
(22,858 |
) |
|
$ |
(267 |
) |
|
$ |
(23,125 |
) |
|
$ |
(51,344 |
) |
|
$ |
(267 |
) |
|
$ |
(51,611 |
) |
| Total
comprehensive loss |
|
$ |
(22,856 |
) |
|
$ |
(267 |
) |
|
$ |
(23,123 |
) |
|
$ |
(51,248 |
) |
|
$ |
(267 |
) |
|
$ |
(51,515 |
) |
Velo3D,
Inc.
Notes
to Consolidated Financial Statements
The
following table reflects the revisions to the previously issued Condensed Consolidated Statement of Cash Flows for the three months ended
September 30, 2024:
| |
|
As
Previously
Reported
|
|
|
Adjusted |
|
|
As
Revised |
|
| |
|
For
the nine months ended September 30, 2024 |
|
| |
|
As
Previously
Reported
|
|
|
Adjusted |
|
|
As
Revised |
|
| |
|
(In
thousands) |
|
| |
|
|
|
|
|
|
|
|
|
| Net
Loss |
|
$ |
(51,344 |
) |
|
$ |
(267 |
) |
|
$ |
(51,611 |
) |
| Adjustments
to reconcile net loss to net cash used in operating activities |
|
|
|
|
|
|
|
|
|
|
|
|
| Loss
on debt extinguishment |
|
$ |
- |
|
|
$ |
7,525 |
|
|
$ |
7,525 |
|
| Amortization
of debt discount and deferred financing costs |
|
$ |
14,541 |
|
|
$ |
(7,258 |
) |
|
$ |
7,283 |
|
|