Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 109

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 109
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  1,238,145 |   |     |     |     NM |    |
| Other expense                                |     |                         |     (21,857 | ) |     |   |     (50,041 | ) |     |        |     28,184 |   |     |     |    (56 | )% |
| Interest Expense                             |     |                         |  (5,318,817 | ) |     |   |  (8,575,756 | ) |     |        |  3,256,939 |   |     |     |    (38 | )% |
| Total other income and expense               |     |                         |  (3,993,904 | ) |     |   |  (9,572,337 | ) |     |        |  5,578,433 |   |     |     |    (58 | )% |
| Net loss                                     |     | $                       | (15,638,589 | ) |     | $ | (35,200,039 | ) |     | $      | 19,561,450 |   |     |     |    (56 | )% |

Revenue, net

The Company generated revenue
of $9.1 million and $0.2 million for the years ended December 31, 2023 and 2022, respectively. Other than $9 million
of revenue generated from the license of AdEdge™ in 2023, revenue has been immaterial for all periods presented and represented
revenue earned from paid pilots for our VeeaHub devices.

Our focus over the past
several years has been testing and refining our product to meet customer needs as well as market research. As a result of these efforts,
we expect revenue to grow over the next several years through the sales of our hardware, licenses and subscriptions. We will be 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 4) Smart Retail and Smart Warehouses.

Cost of Goods Sold

Cost of goods sold increased
by $0.2 million, or 64%, in the year ended December 31, 2023 compared to the year ended December 31, 2022. The increase was due to an
increase in our inventory reserves.

Product Development Expense