Simultaneous Machining and Coating (SMaC) is a novel hybrid technology developed by the Fraunhofer Institute for Laser Technology ILT that combines additive manufacturing through Extreme High-speed Laser Material Deposition (EHLA) with a simultaneously engaged turning process. In the present work, the parallelization of the two sub-processes is successfully demonstrated. For the first time, systematic investigations into the influence of residual heat from the deposition process on the machining process, respectively the properties of the resulting coating are conducted. The study specifically examines geometric deviations, surface roughness, and tool wear. One of the main parameters affecting the residual heat introduced into the turning process, is the distance between the tool center points of the EHLA deposition head and the turning tool Δz. This parameter is identified as a primary factor influencing the dimensional accuracy of the coating geometry. The results show that SMaC not only offers potential for increasing the productivity of the process chain, but also has a positive effect on the service life of the cutting tools involved, potentially improving the workability of hard coating materials. Improvements in terms of the attainable surface roughness are also observed. The investigations provide a basis for research into further aspects of the SMaC process, such as adaptive tool path control methods to enhance dimensional accuracy and the influence of induced compressive stresses on processing highly brittle coating materials.