Velo3D, Inc. Quarterly report [Sections 13 or 15(d)]

Leases (Tables)

3 Months Ended

Mar. 31, 2025

Total right-of-use (“ROU”) assets and lease liabilities are as follows:


	March 31,		December 31,
	2025		2024
	(In thousands)
Right-of-use assets:
Net book value (Other assets)	$	8,308	$	8,774
Operating lease liabilities:
Current (Accrued expense and other current liabilities)	$	1,590	$	1,612
Noncurrent (Other noncurrent liabilities)		7,968		8,361
		9,558		9,973
Financing lease liabilities:
Current (Accrued expense and other current liabilities)	$	146	$	142
Noncurrent (Other noncurrent liabilities)		76		114
	$	222	$	256
Total lease liabilities	$	9,780	$	10,229

Information about lease-related balances were as follows:


	Three Months Ended March 31,
	2025			2024
	(In thousands, except years and percentages)
Operating lease expense	$	578		$	733
Financing lease expense		40			49
Short-term lease expense		41			68
Total lease expense	$	659		$	850
Cash paid for leases	$	595		$	746
Weighted – average remaining lease term – operating leases (years)		6.9			7.6
Weighted – average discount rate – operating leases		9.0	%		8.9	%

Maturity of operating lease liabilities as of March 31, 2025 are as follows:


Year Ending December 31,	(In thousands)
Remainder of 2025	$	1,794
2026		2,430
2027		2,400
2028		2,490
2029		2,585
Thereafter		6,195
Total operating lease payments	$	17,894
Less portion representing imputed interest		(8,336	)
Total operating lease liabilities	$	9,558
Less current portion		1,590
Long-term portion	$	7,968