XML 39 R29.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Balance Sheet Components (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Accounts Receivable, Net | Accounts receivable, net consisted of the following:
| September 30, |  | December 31,
| 2022 |  | 2021
| (In thousands)
Trade Receivables | $ | 20,989 |  |  | $ | 12,845 |
Less: Allowances for Doubtful Accounts | (67) |  |  | (67) |
Total | $ | 20,922 |  |  | $ | 12,778 |
Schedule of Inventories | Inventories consisted of the following:
| September 30, |  | December 31,
| 2022 |  | 2021
| (In thousands)
Raw materials | $ | 51,751 |  |  | $ | 16,594 |
Work-in-progress | 17,562 |  |  | 5,885 |
Total | $ | 69,313 |  |  | $ | 22,479 |
Schedule of Prepaid Expenses and Other Current Assets | Prepaid expenses and other current assets consisted of the following:
| September 30, |  | December 31,
| 2022 |  | 2021
| (In thousands)
Prepaid insurance and other | $ | 1,920 |  |  | $ | 5,326 |
Vendor prepayments | 2,703 |  |  | 4,132 |
Total | $ | 4,623 |  |  | $ | 9,458 |
Schedule of Property and Equipment, Net | Property and equipment, net consisted of the following:
| September 30, |  | December 31,
| 2022 |  | 2021
| (In thousands)
Computers and software | $ | 2,084 |  |  | $ | 1,397 |
Lab equipment and other equipment | 6,467 |  |  | 2,283 |
Furniture and fixtures | 181 |  |  | 88 |
Leasehold improvements | 15,131 |  |  | 2,771 |
Construction in progress | 171 |  |  | 6,273 |
Total property, plant and equipment | 24,034 |  |  | 12,812 |
Less accumulated depreciation and amortization | (4,826) |  |  | (2,766) |
Property, plant and equipment, net | $ | 19,208 |  |  | $ | 10,046 |
Schedule of Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities consisted of the following:
| September 30, |  | December 31,
| 2022 |  | 2021
| (In thousands)
Accrued expenses | $ | 10,711 |  |  | $ | 3,015 |
Accrued salaries and benefits | 6,333 |  |  | 4,143 |
Lease liability – current portion | 2,638 |  |  | 2,256 |
Total Accrued expenses and other current liabilities | $ | 19,682 |  |  | $ | 9,414 |
Schedule of Other Noncurrent Liabilities | Other noncurrent liabilities consisted of the following:
| September 30, |  | December 31,
| 2022 |  | 2021
| (In thousands)
Lease liabilities - noncurrent portion | $ | 13,214 |  |  | $ | 9,184 |
Other noncurrent liabilities | 1,013 |  |  | 308 |
Total other noncurrent liabilities | $ | 14,227 |  |  | $ | 9,492 |

X
- Definition Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs. + References No definition available. + Details
Name: | us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of other noncurrent liabilities. + References No definition available. + Details
Name: | us-gaap_OtherNoncurrentLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
Name: | us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(c)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(b)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 + Details
Name: | us-gaap_ScheduleOfInventoryCurrentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Accrued And Other Current Liabilities + References No definition available. + Details
Name: | velo_ScheduleOfAccruedAndOtherCurrentLiabilitiesTableTextBlock
Namespace Prefix: | velo_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration