UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission File Number: 001-39757 Velo3D, Inc. (Exact name of registrant as specified in its charter) Delaware 98-1556965 (State or other jurisdic ...

Exhibit 99.1 Velo3D Announces Second Quarter 2025 Financial Results FREMONT, Calif., August 6, 2025- Velo3D, Inc. (OTCQX: VLDX), a leader in additive manufacturing ("AM") technology known for transforming aerospace and defense supply chains through world-class metal AM, today announced financial results for its second quarter ended June 30, 2025. Recent Business Developments "Our second quarter results reflect solid topline performance" said Arun Jeldi, CEO of Velo3D. "More importantly, the composition of o ...

Core Viewpoint - Vinland Lithium Inc. has successfully completed its summer exploration program at the Killick Lithium Project, focusing on lithium pegmatites in Newfoundland, and has appointed Barry Sparkes as the new VP of Exploration [1][2]. Exploration Program - The summer 2025 exploration program included prospecting, till sampling, geological mapping, and ground geophysical surveys [3][4]. - A total of 115 rock samples and 45 till samples were submitted for analysis, with a 60 line-kilometre ground magnetics survey conducted [4]. Project Background - The Killick Lithium Project was discovered in late-summer 2021, with significant lithium mineralization identified in multiple dykes [5][12]. - Notable drill results include 8.4 meters of 0.95% Li2O and 1.04% Li2O over 15.23 meters from different holes [5][13]. Recent Developments - The company has identified multiple spodumene-bearing pegmatite float samples in the Kraken South area, with assays returning up to 1.97% Li2O [7]. - The Hydra Cesium discovery has shown promising initial channel sample results, including 8.75% Cs2O over 1.2 meters [7][13]. Financial and Structural Information - Vinland is well-structured with approximately 10 million shares outstanding, with over 6 million held by insiders under a 36-month escrow provision [7]. - Piedmont Lithium Inc. has invested $2 million in Vinland, securing a 19.9% interest, and has the option to earn up to a 62.5% interest in Killick Lithium Inc. through further investment [7][10].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 10-Q _____________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission File Number: 001-39757 ______________________________ Velo3D, Inc. ________ ...

Exhibit 99.1 Velo3D Announces First Quarter 2025 Financial Results • Revenue of $9.3 million • Gross margin of 7.5% • Backlog of $18 million as of March 31, 2025 • Reaffirms expectation for 2025 annual revenue growth of more than 30% • Reaffirms expectation to be EBITDA positive in the first half of 2026 • Demand mix shift to Rapid Production Services (RPS) underway • RPS backlog increased 3x as compared to year-end 2024 • New customers represented more than 75% of 1Q'25 bookings • 50% demand from defense s ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-39757 Velo3D, Inc. (Exact name of registrant as specified in its charter) Delaware 98-1556965 (State or other jurisdiction of incorporation or organization) (I.R.S. E ...

Exhibit 99.1 Velo3D Announces Fourth Quarter and Fiscal Year 2024 Financial Results New Go to Market Strategy Accelerates Path to Profitability Arrayed Notes Acquisition Corp Acquires Majority Stake – Strategic Review Concluded Completed Debt and Warrant Exchange Significantly Strengthens Balance Sheet FREMONT, Calif., March 31, 2025- Velo3D, Inc. (OTC: VLDX), a leader in additive manufacturing (AM) technology known for transforming aerospace and defense supply chains through world-class metal AM, today ann ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q _____________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission File Number: 001-39757 ______________________________ Velo3D, Inc. ______________________________ (E ...

Part I. Financial Information [Item 1. Financial Statements (unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20%28unaudited%29) This section presents Velo3D's unaudited condensed consolidated financial statements for Q1 2024, including balance sheets, income, cash flow, and equity statements, noting management's substantial doubt about the company's going concern ability - The company has incurred significant losses and negative cash flows since inception, leading to an accumulated deficit of **$385.4 million** as of March 31, 2024, with management concluding there is **substantial doubt** about the company's ability to continue as a going concern[38](index=38&type=chunk)[39](index=39&type=chunk) - On December 28, 2023, the company received a NYSE non-compliance notice for its average closing stock price being below **$1.00** for over 30 consecutive trading days, with a deadline of **June 28, 2024**, to regain compliance[35](index=35&type=chunk)[36](index=36&type=chunk) - Subsequent to the quarter end, in April 2024, the company amended its secured notes, making cash repayments of **$11.0 million**, and raised approximately **$12 million** in gross proceeds through an offering of common stock and warrants to fund working capital and repay debt[40](index=40&type=chunk)[41](index=41&type=chunk)[149](index=149&type=chunk) [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to **$136.1 million** from **$153.8 million** by March 31, 2024, due to reduced cash, with liabilities rising and equity declining Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $7,754 | $24,494 | | Inventories | $62,799 | $60,816 | | Total current assets | $98,345 | $113,024 | | Total assets | $136,148 | $153,799 | | **Liabilities & Equity** | | | | Debt – current portion | $34,300 | $21,191 | | Total liabilities | $90,698 | $85,459 | | Total stockholders' equity | $45,450 | $68,340 | | Total liabilities and stockholders' equity | $136,148 | $153,799 | [Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20%28Loss%29) For Q1 2024, revenue significantly declined to **$9.8 million** from **$26.7 million** year-over-year, resulting in a gross loss of **$2.8 million** and a net loss of **$28.3 million**, an improvement from the prior year's **$36.3 million** net loss Q1 2024 vs. Q1 2023 Statement of Operations (in thousands, except per share data) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Total Revenue | $9,786 | $26,687 | | Gross profit (loss) | $(2,815) | $2,532 | | Loss from operations | $(21,450) | $(24,250) | | Net loss | $(28,314) | $(36,325) | | Net loss per share (Basic & Diluted) | $(0.11) | $(0.19) | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2024, net cash used in operating activities improved to **$20.5 million**, while investing activities provided **$3.5 million**, and financing activities provided a minimal **$0.3 million**, resulting in a net cash decrease of **$16.7 million** Q1 2024 vs. Q1 2023 Cash Flows (in thousands) | Cash Flow Activity | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | $(20,523) | $(30,834) | | Net cash provided by investing activities | $3,493 | $20,962 | | Net cash provided by financing activities | $285 | $15,034 | | **Net change in cash and cash equivalents** | **$(16,740)** | **$5,156** | [Notes to Condensed Consolidated Financial Statements (unaudited)](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements%20%28unaudited%29) These notes provide critical context, including the basis of presentation, substantial doubt about going concern, details on debt agreements, valuation of warrants and earnout liabilities, and significant post-quarter financing events - The company is undertaking a strategic business review to explore alternatives, including a potential merger, business combination, or sale, to maximize stockholder value[45](index=45&type=chunk) - As of March 31, 2024, the company had **$36.8 million** in secured notes outstanding, bearing **6.00%** interest, requiring quarterly redemptions at **120%** of the principal amount, with the first **$8.75 million** principal redemption due on April 1, 2024[89](index=89&type=chunk)[91](index=91&type=chunk)[92](index=92&type=chunk) - In April 2024, the company entered into a Second Note Amendment to its Secured Notes, agreeing to make cash payments totaling **$11.0 million** to redeem principal and interest, and issued new warrants to purchase up to **21.9 million** shares[149](index=149&type=chunk)[150](index=150&type=chunk) - On April 10, 2024, the company raised approximately **$12 million** in gross proceeds through a securities purchase agreement, selling **34.3 million** shares of common stock and warrants to purchase an additional **34.3 million** shares[151](index=151&type=chunk)[152](index=152&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=36&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the **63.3%** year-over-year revenue decrease in Q1 2024 due to fewer system sales and order delays, highlighting a strategic shift towards optimizing free cash flow and reducing expenses, while reiterating substantial doubt about the company's ability to continue as a going concern - The company has pivoted its strategy from emphasizing revenue growth to optimizing free cash flow, maximizing customer success, and reducing expenditures through a 'Strategic Realignment' plan[167](index=167&type=chunk) Key Operational Metrics | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Revenue ($ in millions) | $10 | $27 | | Bookings ($ in millions) | $17 | $20 | | Backlog ($ in millions) | $22 | $24 | Results of Operations Summary (in thousands) | Line Item | Q1 2024 | Q1 2023 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | $9,786 | $26,687 | $(16,901) | (63.3)% | | Gross profit (loss) | $(2,815) | $2,532 | $(5,347) | (211.2)% | | Loss from operations | $(21,450) | $(24,250) | $2,800 | (11.5)% | | Net loss | $(28,314) | $(36,325) | $8,011 | (22.1)% | - Gross margin was negative **(28.8)%** for Q1 2024, compared to **9.5%** in Q1 2023, attributed to product mix, launch customer pricing for Sapphire XC, and higher production costs[220](index=220&type=chunk)[221](index=221&type=chunk) - Operating expenses decreased by **30.4%** year-over-year, driven by significant reductions in Research & Development (**-51.6%**) and Selling & Marketing (**-22.1%**) as part of the Strategic Realignment[203](index=203&type=chunk)[223](index=223&type=chunk)[225](index=225&type=chunk) - The company lacks sufficient liquidity to meet operating needs and debt obligations for at least the next 12 months, necessitating additional financings, without which it may be required to sell assets, liquidate, or file for bankruptcy[171](index=171&type=chunk)[240](index=240&type=chunk)[249](index=249&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=53&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) As a smaller reporting company, Velo3D is not required to provide the information for this item - The company is a smaller reporting company as defined in Rule 12b-2 under the Exchange Act and is not required to provide the information required by this Item[275](index=275&type=chunk) [Controls and Procedures](index=53&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were not effective as of March 31, 2024, due to un-remediated material weaknesses in internal control over financial reporting, with remediation efforts ongoing - The CEO and CFO concluded that as of March 31, 2024, the company's disclosure controls and procedures were not effective[277](index=277&type=chunk) - Material weaknesses in internal control over financial reporting, first identified in the 2023 10-K, have not been remediated as of March 31, 2024[278](index=278&type=chunk) - Specific material weaknesses include an ineffective control environment due to insufficient personnel with appropriate accounting knowledge, lack of segregation of duties, and ineffective controls over accounting for debt/equity instruments, inventory, contract assets/liabilities, financial statement presentation, and IT general controls[279](index=279&type=chunk)[282](index=282&type=chunk)[283](index=283&type=chunk) - Remediation measures are underway, including hiring additional personnel, engaging third-party assistance, and designing and implementing new controls, though their full effectiveness is not yet confirmed[282](index=282&type=chunk)[284](index=284&type=chunk)[285](index=285&type=chunk) Part II. Other Information [Legal Proceedings](index=56&type=section&id=Item%201.%20Legal%20Proceedings) As of the filing date, Velo3D is not a party to any material legal proceedings - The company is currently not a party to any material legal proceedings[289](index=289&type=chunk) [Risk Factors](index=56&type=section&id=Item%201A.%20Risk%20Factors) This section highlights critical risks, primarily the substantial doubt about the company's ability to continue as a going concern, which could impede capital raising, product sales, and employee retention, alongside the urgent need for additional capital and restrictive debt covenants - There is substantial doubt about the company's ability to continue as a going concern, which could make it difficult to raise necessary financing and may lead to business curtailment or bankruptcy[291](index=291&type=chunk)[292](index=292&type=chunk) - The company requires additional capital to fund near-term operations, and failure to obtain adequate financing could result in the company being unable to continue operations, potentially leading to liquidation or bankruptcy[293](index=293&type=chunk)[295](index=295&type=chunk) - The Secured Notes contain restrictive covenants that limit the company's ability to incur debt, make investments, and transfer assets, where a breach could result in an event of default and acceleration of the debt[296](index=296&type=chunk)[297](index=297&type=chunk) - Servicing the Notes requires significant cash, with quarterly redemptions of **$8.75 million** in principal (for a repayment price of **$10.5 million**) starting April 1, 2024, which the company may not generate sufficient cash flow to meet[300](index=300&type=chunk)[302](index=302&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=58&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2024, Velo3D did not sell any shares through its At-The-Market (ATM) Sales Agreement and reported no unregistered sales of equity securities or issuer purchases of its equity securities - During the three months ended March 31, 2024, the company sold no shares pursuant to its ATM sales agreement[303](index=303&type=chunk) - There were no unregistered sales of securities or issuer purchases of equity securities in the quarter[304](index=304&type=chunk)[305](index=305&type=chunk) [Defaults Upon Senior Securities](index=59&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This item is not applicable for the reporting period - Not applicable[306](index=306&type=chunk) [Mine Safety Disclosures](index=59&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable for the reporting period - Not applicable[307](index=307&type=chunk) [Other Information](index=59&type=section&id=Item%205.%20Other%20Information) On May 10, 2024, the company revised CEO Bradley Kreger's Change in Control Agreement, extending severance and health benefits, and entered into a new Change in Control Agreement with CFO Hull Xu, providing for severance, bonus, and equity acceleration upon qualifying termination - On May 10, 2024, the company revised its Change in Control Agreement with CEO Bradley Kreger to extend the severance payment and continued health benefits from nine to twelve months[309](index=309&type=chunk) - On May 10, 2024, the company entered into a Change in Control Agreement with CFO Hull Xu, providing for severance, bonus payments, equity acceleration, and continued medical benefits for up to nine months upon a qualifying termination[310](index=310&type=chunk) [Exhibits](index=60&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including revised and new Change in Control Agreements for the CEO and CFO, officer certifications, and Inline XBRL data files - Exhibits filed include revised and new Change in Control Agreements for the CEO and CFO, respectively, as well as required officer certifications[312](index=312&type=chunk)

Exhibit 99.1 Velo3D Announces First Quarter 2024 Financial Results Successfully Executing on Realignment Priorities Strong Demand Provides Significant Second Quarter Visibility Strategic Review Process to Maximize Shareholder Value Remains Ongoing FREMONT, Calif., May 15, 2024 - Velo3D, Inc. (NYSE: VLD), a leading additive manufacturing technology company for mission-critical metal parts, today announced financial results for its first quarter ended March 31, 2024. "We were pleased with our first quarter pe ...