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Velo3d, Inc. (VLD) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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Velo3d, Inc.

CIK: 1825079 Ticker: VLD
Exhibit 99.1

Velo3D Announces First Quarter 2022 Financial Results
Reiterates FY2022 Revenue Guidance of $89 Million on Q1 Execution, Record Backlog

Record revenue – 17% sequential increase, >900% YoY
Increasing demand reflected in record total backlog – up >80% YoY to $55 million
2022 confidence – Q122 revenue / backlog account for >75% of 2022 revenue guidance
Manufacturing execution – initiated volume production of Sapphire XC during quarter
Maintained strong balance sheet – exited Q122 with $186 million in cash

CAMPBELL, Calif., May 10, 2022
- Velo3D, Inc. (NYSE: VLD), a leading additive manufacturing technology company for mission-critical metal parts, today announced financial results for its first fiscal quarter of 2022.

“Strong execution enabled us to post our third straight quarter of revenue growth as a public company, add to our backlog and expand our new customer footprint,” said Benny Buller, CEO of Velo3D. “Demand for our industry leading Sapphire systems remains high as our total backlog exiting the quarter increased more than 80 percent year over year to $55 million and now have more than 75 percent of our 2022 revenue either recognized or booked. When combined with our strong first quarter bookings momentum of 7 systems, we now have significant visibility and increasing confidence in our ability to achieve our 2022 outlook. Additionally, we continued to successfully manage our supply chain to meet our production goals despite the ongoing global challenges. Our European market expansion also remains on plan and we expect to add a significant number of new customers in this growing market by the end of the year. Finally, we reached a key milestone as we started volume production of our Sapphire XC system during the quarter.”

“We are continuing to cement ourselves as a differentiated technology leader in high value manufacturing. Our metal additive manufacturing technology changes the way products in Aerospace, Energy, Power and other industrial segments are designed and produced. It is used to


The following information was filed by Velo3d, Inc. (VLD) on Tuesday, May 10, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Velo3d, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Changes In Redeemable Convertible Preferred Stock And Stockholders??? Equity (Deficit)
Condensed Consolidated Statements Of Operations And Comprehensive Loss
Balance Sheet Components
Balance Sheet Components (Tables)
Balance Sheet Components - Accounts Receivable (Details)
Balance Sheet Components - Accrued Expenses And Other Current Liabilities (Details)
Balance Sheet Components - Inventories (Details)
Balance Sheet Components - Other Noncurrent Liabilities (Details)
Balance Sheet Components - Prepaid Expenses And Other Current Assets (Details)
Balance Sheet Components - Property And Equipment, Net (Details)
Basic And Diluted Net Loss Per Share
Basic And Diluted Net Loss Per Share (Tables)
Basic And Diluted Net Loss Per Share - Computation Of Basic And Diluted Net Loss Per Share (Details)
Basic And Diluted Net Loss Per Share - Narrative (Details)
Basic And Diluted Net Loss Per Share - Potentially Dilutive Securities Excluded From Computation (Details)
Commitment And Contingencies
Commitment And Contingencies (Details)
Description Of Business And Basis Of Presentation
Description Of Business And Basis Of Presentation - Narrative (Details)
Employee Defined-Contribution Plans
Employee Defined-Contribution Plans (Details)
Equipment On Lease, Net
Equipment On Lease, Net (Details)
Equity Incentive Plans And Stock-Based Compensation
Equity Incentive Plans And Stock-Based Compensation (Tables)
Equity Incentive Plans And Stock-Based Compensation - Narrative (Details)
Equity Incentive Plans And Stock-Based Compensation - Rsus Activity (Details)
Equity Incentive Plans And Stock-Based Compensation - Stock Options (Details)
Equity Incentive Plans And Stock-Based Compensation - Stock-Based Compensation Expense (Details)
Equity Incentive Plans And Stock-Based Compensation - Weighted-Average Assumptions (Details)
Equity Instruments
Equity Instruments (Tables)
Equity Instruments - Common Stock Reserved For Issuance (Details)
Equity Instruments - Contingent Earnout Liabilities, Fair Value Assumptions (Details)
Equity Instruments - Fair Value Assumptions (Details)
Equity Instruments - Narrative (Details)
Equity Instruments - Rollforward Of Contingent Earnout Liabilities (Details)
Equity Instruments - Rollforward Of Warrant Liability (Details)
Equity Instruments - Warrants For Shares Of Stock (Details)
Fair Value Measurements
Fair Value Measurements - Changes In Fair Value Of Level 3 Financial Instruments (Details)
Fair Value Measures And Disclosures (Tables)
Fair Value Measures And Disclosures - Assets And Liabilities Measured On Recurring Basis (Details)
Income Taxes
Investments
Investments (Tables)
Investments - Breakdown Of Investments In Unrealized Loss Position (Details)
Investments - Contractual Maturity (Details)
Investments - Narrative (Details)
Investments - Summary Of Available For Sale Investments (Details)
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Leases - Assets And Liabilities (Details)
Leases - Future Minimum Lease Payments (Details)
Leases - Lease-Related Balances (Details)
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Long-Term Debt (Tables)
Long-Term Debt - Components (Details)
Long-Term Debt - Future Minimum Aggregate Payments (Details)
Long-Term Debt - Narrative (Details)
Revenue
Revenue (Tables)
Revenue - Concentration Of Credit Risk And Other Risks And Uncertainties (Details)
Revenue - Narrative (Details)
Revenue - Revenue By Geographic Area (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Ticker: VLD
CIK: 1825079
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-22-014489
Submitted to the SEC: Mon May 16 2022 4:09:00 PM EST
Accepted by the SEC: Mon May 16 2022
Period: Thursday, March 31, 2022
Industry: Special Industry Machinery

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