Velo3D, Inc. Post-effective amendment to a registration statement that is not immediately effective upon filing

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
Money market funds (i)	$	207,471	$	—	$	—	$	207,471
U.S. Treasury securities (ii)	8,141		—		—		8,141
Corporate bonds (ii)	—		7,342		—		7,342
Total financial assets	$	215,612	$	7,342	$	—	$	222,954
Liabilities
Common stock warrant liabilities (Public) (iii)	$	14,318	$	—	$	—	$	14,318
Common stock warrant liabilities (Private Placement) (iii)	—		—		7,387		7,387
Contingent earnout liabilities	—		—		111,487		111,487
Total financial liabilities	$	14,318	$	—	$	118,874	$	133,192

	Fair Value Measured as of December 31, 2020
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
Money market funds (i)	$	15,517	$	—	$	—	$	15,517
Total financial assets	$	15,517	$	—	$	—	$	15,517
Liabilities
Redeemable convertible preferred stock warrant liability	$	—	$	—	$	181	$	181
Total financial liabilities	$	—	$	—	$	181	$	181

_________________

(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.

The following table presents a summary of the changes in the fair value of the Company’s Level 3 financial instruments:


	Redeemable convertible preferred stock warrant liabilities		Private placement warrant liabilities		Contingent earnout liabilities
	(In thousands)
Fair value as of January 1, 2021	$	181	$	—	$	—
Private placement warrant liabilities acquired as part of the reverse recapitalization	—		7,164		—
Contingent earnout liabilities recognized upon the closing of the reverse recapitalization	—		—		120,763
Change in fair value	718		223		(9,276)

Exercise of warrants	(899)		—		—
Fair value as of December 31, 2021	$	—	$	7,387	$	111,487

	Redeemable convertible preferred stock warrant liabilities		Private placement warrant liabilities		Contingent earnout liabilities
	(In thousands)
Fair value as of January 1, 2020	$	185	$	—	$	—
Change in fair value	(4)		—		—


Fair value as of December 31, 2020	$	181	$	—	$	—