Slide 1: Third Quarter 2021 Supplementary Slides
Third Quarter 2021 Supplementary Slides Without Compromise N O V E M B E R 9 , 2 0 2 1 Exhibit 99.2
Slide 2: Disclaimer: Forward Looking Statements
Disclaimer 2 Forward Looking Statements 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 N O V E M B E R 9 , 2 0 2 1
Slide 4: Velo3D at a Glance
VELO3D at a Glance 4 C O M P A N Y O V E R V I E W • Founded in 2014 - differentiated additive manufacturing (AM) technology • Scalable solutions that deliver complex, high-value, mission critical metal parts • Significant market opportunity - not accessible by commodity AM competition • Technology
Slide 5: Velo3D Product Family
VELO3D Product Family 5 Flow™: Print Preparation SW Assure™: Quality Validation Software O N E S O F T W A R E / P R O C E S S P L A T F O R M D R I V I N G A L L P R I N T E R S … Sapphire® Shipping Now Base Printer Sapphire® 1MZ For Tall Parts up to 1M Sapphire® XC Ships Q4’21 Production and Parts
Slide 6: Diverse Customer Base: Space, Aviation, Energy
S P A C E A V I A T I O N / D E F E N S E E N E R G Y O T H E R Diverse Customer Base: Space, Aviation, Energy 6 LEADING JET ENGINE MANUFACTURER
Slide 7: Long Term Growth Drivers
Long Term Growth Drivers 7 “Blue ocean” market - $20B+ high value metal part opportunity*1 Land and expand strategy – production applications drive repeat buys 2 New product expansion – full stack solutions for OEM / CM3 Maintain fast growth of customer base – replicate US success globally 4 * Compa
Slide 8: Q3 2021
Q3 2021
Slide 9: Q3 and YTD 2021 Highlights
Q3 and YTD1 2021 Highlights • Successfully completed merger with JAWS Spitfire • Strong revenue growth – 22% sequential increase • Shipments up 50% YTD – 15 in 2021 vs 10 in 2020 • Record Q3 bookings - 10 systems in Q3 vs 6 in Q2 • 24 bookings YTD1 through October – achieved full year 2021 plan • Ma
Slide 10: Rapid adoption of Velo3D technology by expanding customer base
Rapid adoption of Velo3D technology by expanding customer base • Significant increase in end use parts customers – doubled to >100 customers YTD • Reflects broadening market recognition of Velo3D technology’s unique value Increasing parts demand from space, aerospace and energy industries • Signific
Slide 11: Expanding New Customer Adoption in 2021
Expanding New Customer Adoption in 2021 11 • 12 new system customers in 2021 YTD - 9 shipped and 3 booked • Leading companies in key verticals • Space – Aerojet, Relativity Space, Launcher • Aerospace – Chromalloy, Innoveering, Primus, Major Defense Prime • Contract manufacturers / Other – ADDMAN, V
Slide 12: Revenue Drivers: Customers
Revenue Drivers: Customers 12 2020A 1H21 Q321 2021YTD 2021 Plan New Customers1 5 8 1 9 15 Total Customers1 8 16 17 17 23 Shipments to Existing Customers 4 2 2 4 7 Shipments to New Customers 9 8 3 11 17 Total Shipments 13 10 5 15 24 Ave. Existing Customers’ Purchases2 1.3 0.3 0.3 0.5 0.9 1. Based on
Slide 13: Revenue Drivers: Shipments
Revenue Drivers: Shipments 13 2020A 1H21 Q321 2021YTD 2021 Plan New Customers1 5 8 1 9 15 Total Customers1 8 16 17 17 23 Shipments to Existing Customers 4 2 2 4 7 Shipments to New Customers 9 8 3 11 17 Total Shipments 13 10 5 15 24 Ave. Existing Customers’ Purchases2 1.3 0.3 0.2 0.5 0.9 1. Based on
Slide 14: Revenue Build Up
Revenue Build Up 14 2020A 1H21 Q321 2021YTD 2021 Plan Revenue at year of sale1 $17 $6 $7 $14 $23 Recurring Revenue2 $2 $2 $1 $3 $3 Total Revenue $19 $8 $9 $17 $26 Total Units Shipments 13 10 5 15 24 Units Operating 23 33 38 38 47 Year of Sale ASP3 $1.3 $0.6 $1.5 $0.9 $1.0 Average ARR4 $0.17 $0.09 $0
Slide 15: Sapphire XC Update
• Expands part size / capacity by 5x, lowers costs by 65 - 80% • Scale up of proven Sapphire process – completed process transfer • Delivered first customer demo part Q321 • On track for first system shipment by YE 2021 • Capacity expansion – new manufacturing facility in CA • Annual capacity of >40
Slide 16: Increasing Sapphire XC Bookings
$26 $31 $40 $55 $50 $45 June 2021 September 2021 October 2021 XC Bookings XC Pre-Orders Increasing Sapphire XC Bookings 16 • 17 Sapphire XC bookings as of Oct. 2021 • Strong XC order pipeline - $85m • Continued conversion success • XC bookings up 55% since June 2021 to $40m • Provides significant 20
Slide 17: Bill McCombe, CFO
Bill McCombe CFO N O V E M B E R 9 , 2 0 2 1
Slide 18: Merger Transaction - Sources and Uses
Merger Transaction - Sources and Uses • Completion of merger provides capital for future growth • $274m in net proceeds after transaction costs • 183m shares outstanding post transaction Sources Uses Cash In Trust $345 Net Proceeds $274 Redemptions (182) Expenses 44 PIPE Financing 155 Total $318 Tot
Slide 19: Financial Summary
Financial Summary 19 Q3 20 Q2 21 Q3 21 YTD1 2020 YTD1 2021 Total Revenue $2.3 $7.2 $8.7 $12.2 $17.0 Year of Sale 1.8 6.1 7.3 11.0 13.6 Annual Recurring 0.5 1.1 1.4 1.2 3.4 Cost of Goods sold $1.8 $5.0 $7.2 $8.2 $13.8 Gross Profit $0.5 $2.2 $1.5 $4.0 $3.3 % Gross Margin 22% 31% 17% 33% 19% Total Oper
Slide 20: Q3 Gross Margin Actual Versus Plan
Q3 21 Gross Margin Actual Versus Plan 20 17% 30% 36% 46% Reported Production Scale- Up costs/ Underabsorbtion New Metal Dev. Costs Material costs / Expedited Shipping Other OH / Inventory Adjustment Target 25% 41% 33% Reliability Investments / Upgrade Underabsorbed Service Network Costs Increased co
Slide 21: Balance Sheet
Balance Sheet Balance Sheet – Sept 30, 2021 Cash $297* Other Current Assets 32 Long Term Assets 19 Total Assets $348 Current Liabilities $57 Total Debt 28 Earnout/Warrant Liability 116 Shareholders Equity 146 Total Liabilities and Equity $348 21 Substantial cash balance • Supports customer confidenc
Slide 22: Reiterating 2021 Full Year Guidance
Reiterating 2021 Full Year Guidance 22 Q3 21A 2021YTD Q4 21E 2021E Bookings 10 21 3 24 New Customers1 1 9 64 154 Total Shipments 5 15 95 245 Sapphire XC Backlog 2 142 73 203 Total Revenue $9 $17 $9 $26 1 By shipments 2 Backlog Includes 10 Sapphire XC orders from 2020 by SpaceX 3 End of year Backlog
Slide 23: Strong Confidence in 2022 Revenue Outlook
Strong Confidence in 2022 Revenue Outlook 23 • Sapphire XC bookings increased to $40m (10/21) • Active discussions on further conversions - $45m in pre- orders • 2021 base + XC bookings / pre-orders exceeds 2022 target • Strong confidence in achieving 2022 target revenue $89 $M There is no guarantee
Slide 24: Q&A
VELO*” Q&A
Slide 25: Appendix
Appendix info@velo3d.com
Slide 26: Non-GAAP Reconciliation - Adjusted Operating Expenses
Non-GAAP Reconciliation - Adjusted Operating Expenses (Unaudited) 26
Slide 27: Non-GAAP Reconciliation - Adjusted EBITDA
Non-GAAP Reconciliation - Adjusted EBITDA (Unaudited) 27
Slide 28: Non-GAAP Reconciliation - Non-GAAP Net Income (Loss)
Non-GAAP Reconciliation - Non-GAAP Net Income (Loss) (Unaudited) 28
Slide 29: Disclaimer: Industry and Market Data
Disclaimer 29 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 30: Third Quarter 2021 Supplementary Slides
Third Quarter 2021 Supplementary Slides Without Compromise N O V E M B E R 9 , 2 0 2 1