Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 120

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 120
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 growth company under the JOBS Act until the earliest of (i) the last day
of its first fiscal year following the fifth anniversary of the closing of the Plum Acquisition Initial Public Offering, (ii) the last
date of our fiscal year in which it has total annual gross revenue of at least $1.235 billion, (iii) the date on which it is deemed to
be a “large accelerated filer” under the rules of the SEC with at least $700.0 million of outstanding securities held by
non-affiliates or (iv) the date on which it have issued more than $1.0 billion in non-convertible debt securities during the previous
three-years.

Non-GAAP Financial Measures

To supplement our consolidated
financial statements, which are prepared and presented in accordance with GAAP, we use Adjusted EBITDA, as described below, to understand
and evaluate our core operating performance. These non-GAAP financial measures, which may differ from similarly titled measures used
by other companies, is presented to enhance investors’ overall understanding of our financial performance and should not be considered
a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

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Adjusted EBITDA

The primary financial measure
we use is Adjusted EBITDA. EBITDA is defined as net (loss) income, before interest, taxes, depreciation, and amortization. We define
Adjusted EBITDA as net (loss) income excluding income tax provision, interest expense, net of interest income from related party loans,
depreciation and amortization, stock-based compensation expense and non-core expenses/losses (gains), including transaction-related costs,
litigation-related costs, management fees, change in fair value of warrant liability, change in fair value of earn-out share liabilities
and other expense, which includes asset impairments. Our management uses this measure internally to evaluate the performance of our business
and this measure is one of the primary metrics by which our internal budgets are based. We exclude the above items as some are non-cash
in nature, and others are non-recurring that they may not be representative of normal operating results. This non-GAAP financial measure
adjusts for the impact of items that we do not consider indicative of the operational performance of our business. While we believe that
this non-GAAP financial measure is useful in evaluating our business, this information should be considered as supplemental in nature
and is