Velo3D expects significant Q3 2024 revenue drop, discloses going concern doubt

Velo3D, Inc.

Management expects significant revenue reduction for Q3 and 9M 2024 vs prior year due to lack of orders from strategic review uncertainty.
Operating costs also reduced via cost discipline including workforce reductions.
Company cannot provide reasonable Q3 estimate due to accounting staff shortages, limited resources, and going-concern evaluation.
Company concluded substantial doubt about ability to meet financial obligations and continue as a going concern.

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