Company: VEEAW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078177
Chunk: 90

Company: VEEA INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 2
Chunk 90
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49%
  
    Total operating expenses 
     10,753,134  
     12,414,362  

    Loss from operations 
     (10,671,116) 
     (12,399,471) 

    Other Income (Expense): 

    Other income, net 
     1,233  
     12,659  
    $(11,426) 
     -90%
  
    Change in fair value of convertible note option liability 
     59,730  
     -  
    $59,730  
     100%
  
    Change in fair value of warrant liabilities 
     105,124  
     -  
    $105,124  
     100%
  
    Change in fair value of Earn-Out Share Liability 
     8,800,000  
     -  
    $8,800,000  
     100%
  
    Other expense 
     (27,196) 
     (9,310) 
    $(17,886) 
     192%
  
    Interest expense 
     (1,379,581) 
     (900,942) 
    $(478,639) 
     53%
  
    Total other income (expense) 
     7,559,310  
     (897,593) 

    Net income (loss) 
    $(3,111,806) 
    $(13,297,064) 

Revenue, net

The Company generated revenue
of $72,927 and $40,811 for the three months ended June 30, 2025 and 2024, and revenue of $87,168 and $57,581 for the six months ended
June 30, 2025 and 2024, respectively. Revenue has been principally earned from paid pilots for our VeeaHub® devices. Our
focus over the past several years has been on field testing and refining our product to meet customer needs as well as market developments.
As a result of these efforts, we expect revenue to grow over the next several quarters through the sales of our hardware, licenses and
subscriptions. We are especially focused in four principal market opportunities: 1) Digital Equity and Inclusion, 2) Energy and Sustainability
solutions for Smart Buildings and Climate Smart Agriculture, 3) Convergence of Fixed, Wireless, and 5G Networks, and