| Summary of Revisions to Previously Issued Financial Statements |
The
following table reflects the revisions to the previously issued Condensed Consolidated Balance Sheet as of September 30, 2024:
Summary
of Revisions to Previously Issued Financial Statements
| | |
As
Previously
Reported | | |
Adjusted | | |
As
Revised | |
| | |
September
30, 2024 | |
| | |
As
Previously
Reported | | |
Adjusted | | |
As
Revised | |
| | |
(In
thousands) | |
| | |
| | |
| | |
| |
| Debt
– current portion | |
$ | 29,602 | | |
$ | 267 | | |
$ | 29,869 | |
| Total
current liabilities | |
| 63,402 | | |
| 267 | | |
| 63,669 | |
| Total
liabilities | |
$ | 76,100 | | |
$ | 267 | | |
$ | 76,367 | |
| Accumulated
deficit | |
$ | (408,381 | ) | |
$ | (267 | ) | |
$ | (408,648 | ) |
| Total
stockholders’ equity | |
| 34,687 | | |
| (267 | ) | |
| 34,420 | |
| Total
liabilities and stockholders’ equity | |
$ | 110,787 | | |
$ | - | | |
$ | 110,787 | |
The
following table reflects the revisions to the previously issued Condensed Consolidated Statement of Operations and Comprehensive Income
(Loss) for the three months ended September 30, 2024:
| | |
As
Previously Reported | | |
Adjusted | | |
As
Revised | | |
As
Previously Reported | | |
Adjusted | | |
As
Revised | |
| | |
For
the three months ended September 30, 2024 | | |
For
the nine months ended September 30, 2024 | |
| | |
As
Previously Reported | | |
Adjusted | | |
As
Revised | | |
As
Previously Reported | | |
Adjusted | | |
As
Revised | |
| | |
(In
thousands) | | |
(In
thousands) | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| General
and administrative | |
$ | 15,279 | | |
$ | 131 | | |
$ | 15,410 | | |
$ | 32,867 | | |
$ | 131 | | |
$ | 32,998 | |
| Total
operating expenses | |
| 22,816 | | |
| 131 | | |
| 22,947 | | |
| 59,074 | | |
| 131 | | |
| 59,205 | |
| Loss
from operations | |
| (18,745 | ) | |
| 131 | | |
| (18,876 | ) | |
| (60,715 | ) | |
| 131 | | |
| (60,846 | ) |
| Interest
expense | |
| (10,949 | ) | |
| 7,389 | | |
| (3,560 | ) | |
| (20,309 | ) | |
| 7,389 | | |
| (12,920 | ) |
| Loss
on debt extinguishment | |
| — | | |
| (7,525 | ) | |
| (7,525 | ) | |
| — | | |
| (7,525 | ) | |
| (7,525 | ) |
| Net
loss | |
$ | (22,858 | ) | |
$ | (267 | ) | |
$ | (23,125 | ) | |
$ | (51,344 | ) | |
$ | (267 | ) | |
$ | (51,611 | ) |
| Net loss per share: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Basic | |
$ | (37.11 | ) | |
$ | (0.43 | ) | |
$ | (37.54 | ) | |
$ | (91.35 | ) | |
$ | (0.47 | ) | |
$ | (91.82 | ) |
| Diluted | |
$ | (37.11 | ) | |
$ | (0.43 | ) | |
$ | (37.54 | ) | |
$ | (91.35 | ) | |
$ | (0.47 | ) | |
$ | (91.82 | ) |
| Net
loss | |
$ | (22,858 | ) | |
$ | (267 | ) | |
$ | (23,125 | ) | |
$ | (51,344 | ) | |
$ | (267 | ) | |
$ | (51,611 | ) |
| Total
comprehensive loss | |
$ | (22,856 | ) | |
$ | (267 | ) | |
$ | (23,123 | ) | |
$ | (51,248 | ) | |
$ | (267 | ) | |
$ | (51,515 | ) |
Velo3D,
Inc.
Notes
to Consolidated Financial Statements
The
following table reflects the revisions to the previously issued Condensed Consolidated Statement of Cash Flows for the three months ended
September 30, 2024:
| | |
As
Previously
Reported | | |
Adjusted | | |
As
Revised | |
| | |
For
the nine months ended September 30, 2024 | |
| | |
As
Previously
Reported | | |
Adjusted | | |
As
Revised | |
| | |
(In
thousands) | |
| | |
| | |
| | |
| |
| Net
Loss | |
$ | (51,344 | ) | |
$ | (267 | ) | |
$ | (51,611 | ) |
| Adjustments
to reconcile net loss to net cash used in operating activities | |
| | | |
| | | |
| | |
| Loss
on debt extinguishment | |
$ | - | | |
$ | 7,525 | | |
$ | 7,525 | |
| Amortization
of debt discount and deferred financing costs | |
$ | 14,541 | | |
$ | (7,258 | ) | |
$ | 7,283 | |
|