Velo3D, Inc. Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measures and Disclosures (Tables)

6 Months Ended

Jun. 30, 2022

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


	Fair Value Measured as of June 30, 2022
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
Money market funds (i)	$	42,869	$	—	$	—	$	42,869
U.S. Treasury securities (ii)	52,704		—		—		52,704
Corporate bonds (ii)	—		45,583		—		45,583
Total financial assets	$	95,573	$	45,583	$	—	$	141,156
Liabilities
Common stock warrant liabilities (Public) (iii)	$	2,673	$	—	$	—	$	2,673
Common stock warrant liabilities (Private Placement) (iii)	—		—		1,380		1,380
Contingent earnout liabilities	—		—		12,493		12,493
Total financial liabilities	$	2,673	$	—	$	13,873	$	16,546

	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

(i) Included in cash and cash equivalents on the condensed consolidated balance sheets.

(ii) Included in short-term investments on the condensed consolidated balance sheets.

(iii) Included in warrant liabilities on the condensed consolidated balance sheets.

The following table presents a rollforward of the Level 3 assets and liabilities measured at fair value on a recurring basis:


	Redeemable convertible preferred stock warrant liabilities		Private placement warrant liabilities		Contingent earnout liabilities
Three Months Ended June 30, 2022	(In thousands)
Fair value as of March 31, 2022	$	—	$	9,434	$	142,719
Change in fair value			(8,054)		(130,226)
Fair value as of June 30, 2022	$	—	$	1,380	$	12,493

Six months ended June 30, 2022
Fair value as of January 1, 2022	$	—	$	7,387	$	111,488
Change in fair value	—		(6,007)		(98,995)
Fair value as of June 30, 2022	$	—	$	1,380	$	12,493