Company: VEEAW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111013
Chunk: 18

Company: VEEA INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 and requires disclosure of (i) significant expense categories and amounts by reportable
segment as well as the segment’s profit or loss measure(s) that are regularly provided to the chief operating decision maker (the
“CODM”) to allocate resources and assess performance; (ii) how the CODM uses each reported segment profit or loss measure
to allocate resources and assess performance; (iii) the nature of other segment balances contributing to reported segment profit or loss
that are not captured within segment revenues or expenses; and (iv) the title and position of the individual or name of the group or committee
identified as the CODM. This guidance requires retrospective application to all prior periods presented in the financial statements and
is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15,
2024. Early adoption is permitted. The adoption of this guidance results in the Company being required to include enhanced disclosures
relating to its reportable segments. The Company adopted this guidance effective December 31, 2024, and it did not have a material effect
on the Company’s condensed consolidated financial statements.

In November 2024, the FASB issued ASU
No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40). In January
2025, the FASB issued ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic
220-40): Clarifying the Effective Date to clarify the effective date of ASU 2024-03. The amendments in this ASU require a public business
entity to disclose specific information about certain costs and expenses in the notes to its financial statements for interim and annual
reporting periods. The objective of the disclosure requirements is to provide disaggregated information about a public business entity’s
expenses to help investors (a) better understand the entity’s performance, (b) better assess the entity’s prospects for future
cash flows, and (c) compare an entity’s performance over time and with that of other entities. The additional disclosures under
this update include (1) disclosing the amounts of purchases of inventory, employee compensation, depreciation, intangible asset amortization,
and depreciation, depletion, and amortization recognized as part of oil and gas-producing activities (DD&A) (or other amounts of depletion
expense) that are included in each relevant expense caption, (2)