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

Quarterly report pursuant to Section 13 or 15(d)

Investments

Investments

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Available-for-sale Investments

The following table summarizes the Company’s available-for-sale (“AFS”) investments. These are classified as “Short-term investments” on the condensed consolidated balance sheets.


	March 31, 2024
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
	(In thousands)
Corporate bonds	$	3,195	$	—	$	(44)	$	3,151
Total available-for-sale investments	$	3,195	$	—	$	(44)	$	3,151


	December 31, 2023
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
	(In thousands)
Corporate bonds	$	6,717	$	—	$	(96)	$	6,621
Total available-for-sale investments	$	6,717	$	—	$	(96)	$	6,621

The following table presents the breakdown of the AFS investments in an unrealized loss position as of March 31, 2024 and December 31, 2023, respectively.


	March 31, 2024				December 31, 2023
	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
	(In thousands)
Corporate bonds
Less than 12 months	$	—	$	—	$	—	$	—
12 months or longer	3,151		(44)		6,621		(96)
Total	$	3,151	$	(44)	$	6,621	$	(96)

There were no material realized gains or losses on AFS investments during the three months ended March 31, 2024 and March 31, 2023.

All remaining contractual maturities of AFS investments held at March 31, 2024 are as follows:


	Less than 12 months				Greater than 12 months
	Fair value		Gross unrealized losses		Fair value		Gross unrealized losses
	(In thousands)
Corporate bonds	$	3,151	$	(44)	$	—	$	—

Total	$	3,151	$	(44)	$	—	$	—

Actual maturities may differ from the contractual maturities because the Company may sell these investments prior to their contractual maturities.