Company: VEEAW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001213900-25-046124
Chunk: 71

Company: VEEA INC.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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 fair value of warrants; the fair
value of acquisition-related contingent consideration arrangements; the fair value of the ELOC; unrecognized tax benefits; legal contingencies;
the incremental borrowing rate for the Company’s leases; and the valuation of stock-based compensation, among others.

Emerging Growth Company Status

The Company is an emerging growth
company, as defined in the JOBS Act. Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards
issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies. The Company has elected
to use this extended transition period for complying with new or revised accounting standards that have different effective dates for
public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively
and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, these financial statements may not
be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates.

Segment Information

The Company operates as a single operating
segment. The chief operating decision maker is the Company’s Chief Executive Officer, who makes resource allocation decisions and
assesses performance based on financial information presented on a consolidated basis, accompanied by disaggregated revenue information.
Accordingly, the Company has determined that it has a single reportable segment and operating segment. The majority of the Company’s
assets as of March 31, 2025 and December 31, 2024, were attributable to its U.S. operations. The Company does not have any customers that
make up more than 10% of revenue, and its long-lived assets are based on the physical location of the assets.

Recent Accounting Pronouncements

In December 2023, the FASB issued
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU requires that an entity disclose specific categories
in the effective tax rate reconciliation as well as reconciling items that meet a quantitative threshold. Further, the ASU requires additional
disclosures on income tax expense and taxes paid, net of refunds received, by jurisdiction. The new standard is effective for annual
periods beginning after December 15, 2024, on a prospective basis with the option to apply it retrospectively. Early adoption is permitted.
The adoption of this guidance results in the Company being required to include enhanced income tax-related