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

Fair Value Measures and Disclosures (Tables)

3 Months Ended

Mar. 31, 2024

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


	Fair Value Measured as of March 31, 2024
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
Money market funds (i)	$	6,732	$	—	$	—	$	6,732
Corporate bonds (ii)	—		3,151		—		3,151
Total financial assets	$	6,732	$	3,151	$	—	$	9,883
Liabilities
Common stock warrant liabilities (Public Warrants) (iii)	$	489	$	—	$	—	$	489
Common stock warrant liabilities (Private Placement Warrants) (iii)	—		—		241		241
Common stock warrant liabilities (2022 Private Warrant) (iii)	—		—		28		28
Common stock warrant liabilities (RDO Warrants) (iii)	—		—		13,053		13,053
Common stock warrant liabilities (Placement Agent Warrants) (iii)	—		—		644		644
Contingent earnout liabilities	—		—		1,893		1,893
Total financial liabilities	$	489	$	—	$	15,859	$	16,348

	Fair Value Measured as of December 31, 2023
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
Money market funds (i)	$	3,422	$	—	$	—	$	3,422
Corporate bonds (ii)	—		6,621		—		6,621
Total financial assets	$	3,422	$	6,621	$	—	$	10,043
Liabilities
Common stock warrant liabilities (Public Warrants) (iii)	$	258	$	—	$	—	$	258
Common stock warrant liabilities (Private Placement Warrants) (iii)	—		—		127		127
Common stock warrant liabilities (2022 Private Warrant) (iii)	—		—		23		23
Common stock warrant liabilities (RDO Warrants) (iii)	—		—		10,891		10,891
Common stock warrant liabilities (Placement Agent Warrants) (iii)	—		—		536		536
Contingent earnout liabilities	—		—		1,456		1,456
Total financial liabilities	$	258	$	—	$	13,033	$	13,291

(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 summary of the changes in the fair value of the Company’s Level 3 financial instruments:


	Private placement warrant liabilities		2022 Private Warrant		Contingent earnout liabilities		RDO Warrants		Placement Agent Warrants
	(In thousands)
Fair value as of January 1, 2024	$	127	$	23	$	1,456	$	10,891	$	536
Change in fair value	114		5		437		2,162		108
Fair value as of March 31, 2024	$	241	$	28	$	1,893	$	13,053	$	644


	Private placement warrant liabilities		2022 Private Warrant		Contingent earnout liabilities		RDO Warrants		Placement Agent Warrants
	(In thousands)
Fair value as of January 1, 2023	888		109		17,414		—		—
Change in fair value	869		37		9,653		—		—
Fair value as of March 31, 2023	$	1,757	$	146	$	27,067	$	—	$	—