Velo3d, Inc. · NASDAQ:VELO
Velo3d — Q3 2022 Earnings Presentation
18 slides from Velo3d's earnings presentation, Nov 8, 2022
Slide 1: Third Quarter 2022 Supplementary Slides
VELO Third Quarter 2022 Supplementary Slides November 8, 2022
Slide 2: Disclaimer: Forward Looking Statement
Ve Disclaimer Forward Looking Statement This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1996. The Company's actual results may differ from its expectations, estimates and projections and con
Slide 3: Benny Buller, CEO
Benny Buller CEO
Slide 4: $0 $10 $20 $30 $40 $50 $60 $70 $0 $5 $10 $15 $20 $25
$0 $10 $20 $30 $40 $50 $60 $70 $0 $5 $10 $15 $20 $25 Q1 Q2 Q3 2021 2022 LTM
Slide 5: Q3'22 Results Impacted by Material Shortages
V °’Q322 Results Impacted by Material Shortages Supply chain disruptions Key component shortages affected progress of production Have now secured substantially all parts needed for Q4 plan Conditions remain challenging New product launch impact First production of Sapphire XC 1MZ- testing cycle long
Slide 6: Driving Operational Improvement
V* Driving Operational Improvement Q3 Accomplishments Build out of supply chain team and processes — reduce supply shortages Improved purchasing and inventory planning Increased efficiency through reorganization of production floor Q422 and 2023: Grow output by efficiency gains — not investment Mate
Slide 7: Expanding Market Footprint Drives Growth
Vv" Expanding Market Footprint Drives Growth Sales organization now in place to deliver next growth phase Booked 3 new landmark customers in new markets 2 market leading European aerospace OEMs Major U.S, automotive OEM 3 customers purchased more than 1 system Testament to increasing credibility of
Slide 8: Bill McCombe
Bill McCombe
Slide 9: Financial Summary
Vv” Financial Summary Q3 22 Q2 22 Q3 21 Total Revenue $19.1 $19.6 $8.7 Year of Sale 16.5 176 Yie) Recurring Revenue 2.6 2.0 14 Cost of Goods sold 19.2 18.4 $7.2 Gross Profit (0.1) LZ $1.5 % Gross Margin (1%) 6% 17% Total Operating Expenses 27.8 27.5 16.5 Adjusted Operating Expenses! 227 225) 15.0 Ad
Slide 10: Strong Balance Sheet Supports Growth Plan
v~ Strong Balance Sheet Supports Growth Plan Balance Sheet - September 30, 2022 ($m) $142m ee) 3 Cash and Investments $113 | — $5 Siig Other Current Assets 97 Long Term Assets 47 Total Assets $257 Current Liabilities (less debt) 60 Total Debt 6 Long Term Liabilities 13 Earnout/Warrant Liability 64 S
Slide 11: Outlook
Vv” Outlook Expect 2022 revenue in the range of $75 - $80M, up approximately 180% YoY Q4 revenue of $24 - $29M, up 25% - 50% sequentially Q4 gross margin of 5% - 10%* Adjustment reflects impact of: Shipment delays on Q3 revenues, Continuing supply chain risks in Q4 Potential Sapphire XC 1MZ producti
Slide 12: Q&A
Slide 13: Appendix
VELO Appendix 1 (408) 610-3915 511 Division St. Campbell, CA95008
Slide 14: Non-GAAP Reconciliation - Adjusted Operating Expenses
Vv’ Non-GAAP Reconciliation - Adjusted Operating Expenses (unaucitea) Revenue Operating expenses Research and development Selling and marketing General and administrative Total operating expenses Stock-based compensation Merger related transactional costs Adjusted operating expenses ‘Velo30, Inc. NO
Slide 15: Non-GAAP Reconciliation - Adjusted EBITDA
V* Non-GAAP Reconciliation - Adjusted EBITDA (naucitea) ‘Velo3D, Inc. NON-GAAP Adjusted EBITDA Reconciliation (Unaudited) Three months ended Nine months ended Three months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 ‘june 30, 2022 ‘une 30, 2021 (in thousands, ex
Slide 16: Non-GAAP Reconciliation - Non-GAAP Net Loss
V’ Non-GAAP Reconciliation - Non-GAAP Net Loss (nauditea) Revenue Gross Profit Net Income (Loss) Stock-based compensation Loss on the convertible note modification (Gain) Loss on fair value of warrants (Gain) Loss on fair value of contingent earnout abilities Merger related transactional costs Non-G
Slide 17: Disclaimer: Industry and Market Data
V” Disclaimer Industry and Market Data In this presentation, the Company relies on and refers to publicly available information and statistics regarding the market in which the Company competes and other industry data, The Company obtained this information and statistics from third-party sources, in
Slide 18: Third Quarter 2022 Supplementary Slides
VELO Third Quarter 2022 Supplementary Slides November 8, 2022