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

Fair Value Measures and Disclosures (Tables)

3 Months Ended

Mar. 31, 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 March 31, 2022
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
Money market funds (i)	$	104,352	$	—	$	—	$	104,352
U.S. Treasury securities (ii)	43,471		—		—		43,471
Corporate bonds (ii)	—		38,254		—		38,254
Total financial assets	$	147,823	$	38,254	$	—	$	186,077
Liabilities
Common stock warrant liabilities (Public) (iii)	$	18,285	$	—	$	—	$	18,285
Common stock warrant liabilities (Private Placement) (iii)	—		—		9,434		9,434
Contingent earnout liabilities	—		—		142,719		142,719
Total financial liabilities	$	18,285	$	—	$	152,153	$	170,438

	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 fair value on a recurring basis:


	Redeemable convertible preferred stock warrant liabilities		Private placement warrant liabilities		Contingent earnout liabilities
	(In thousands)
Fair value as of January 1, 2022	$	—	$	7,387	$	111,487
Change in fair value			2,047		31,232
Fair value as of March 31, 2022	$	—	$	9,434	$	142,719

	Redeemable convertible preferred stock warrant liabilities		Private placement warrant liabilities		Contingent earnout liabilities
	(In thousands)
Fair value as of January 1, 2021	$	181	$	—	$	—
Change in fair value	1,514		—		—
Fair value as of March 31, 2021	$	1,695	$	—	$	—