---
schema_version: "secwatch.filing_event.v1"
accession: "0001825079-23-000043"
form_type: "8-K"
ticker: "VELO"
cik: "0001825079"
company_name: "Velo3D, Inc."
filed_at: "2023-11-15T23:59:59+00:00"
generated_at: "2026-06-08T02:41:39.046485+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Velo3D cuts Q3 revenue by $200k, faces convertible note default risk, going concern doubt

## Summary
- Q3 2023 revenue revised to $23.8M (down $200k deferral); gross profit $1.5M, net loss $(17.4M).
- Company expects to miss minimum revenue covenant on senior secured convertible notes due 2026, triggering potential event of default.
- If not waived, note holders can demand immediate cash payment; company lacks sufficient capital to satisfy.
- Company will classify debt as current and disclose substantial doubt about going concern in upcoming 10-Q.
- Negotiating amendment with holders but does not expect waiver within extension period.

## SEC filing metadata
- accession: 0001825079-23-000043
- form_type: 8-K
- ticker: VELO
- cik: 0001825079
- company_name: Velo3D, Inc.
- filed_at: 2023-11-15T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 2.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1825079/000182507923000043/0001825079-23-000043-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1825079/000182507923000043/vld-20231115.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001825079-23-000043
- JSON: https://secwatch.observer/filing/0001825079-23-000043.json
- Plain text: https://secwatch.observer/filing/0001825079-23-000043.txt

## Key facts
- Earnings Releases
  Velo3D, Inc. reported the quarter ended September 30, 2023 results: revenue $23.8 million, net income a net loss of $(17.4 million) million, or $(0.09) per diluted share, EPS $(0.09) per diluted share.
  - Period: the quarter ended September 30, 2023
  - Revenue: $23.8 million
  - Net income: a net loss of $(17.4 million) million, or $(0.09) per diluted share
  - EPS: $(0.09) per diluted share
  - Result: preliminary results
  source text: the Company expects the Quarterly Report to report for the quarter ended September 30, 2023 revenues of $23.8 million, gross profit of $1.5 million, gross margin of 6.3%, and a net loss of $(17.4 million) million, or $(0.09) per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1825079/000182507923000043/0001825079-23-000043-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.