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]

Basic and Diluted Net Loss per Share

Basic and Diluted Net Loss per Share

12 Months Ended

Dec. 31, 2025

Note 3. Basic and Diluted Net Income (Loss) per Share

The following table sets forth the computation of the Company’s basic and diluted net loss per share to common stockholders. Basic and diluted net loss per share for all periods presented have been adjusted to reflect the 2024 1-for-35 reverse stock split of the Company’s common stock and the 2025 1-for-15 reverse stock split of the Company's common stock (see Note 1). These reverse splits reduced the outstanding common shares and increased the weighted average shares outstanding retrospectively.


	December 31,
	2025			2024
	(In thousands, except share per share data)
Numerator:
Net loss	$	(71,362	)	$	(69,744	)

Denominator:
Basic weighted average shares outstanding		16,486,845			847,265
Diluted weighted average shares outstanding		16,486,845			847,265

Net loss per share
Basic	$	(4.33	)	$	(82.32	)
Diluted	$	(4.33	)	$	(82.32	)

The following potentially dilutive shares of common stock equivalents on an "as-converted basis” were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an antidilutive effect:


	December 31,
	2025		2024
	(per share data)
Common stock warrants		36,892		215,134
Common stock options		4,247		38,028
Restricted stock units		1,030,414		18,036
Total potentially dilutive common share equivalents		1,071,553		271,198

Total potentially dilutive common share equivalents for the years ended December 31, 2025 and 2024, excludes 41,444 respectively, shares related to the earnout liability as these shares are contingently issuable upon meeting certain triggering events.