Company: VEEAW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111013
Chunk: 60

Company: VEEA INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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375,294  
    $(33,323,555) 

33

    For the Nine Months Ended  
    $  
    % 

    September 30, 2025  
    September 30, 2024  
    Change 

    Revenues, net 
    $232,094  
    $108,264  
    $123,830  
     114%
  
    Cost of Goods Sold 
     58,156  
     57,687  
     469  
     1%
  
    Gross profit 
     173,938  
     50,577  

    Operating Expenses: 

    Product development 
     164,878  
     1,152,930  
     (988,052) 
     -86%
  
    Sales and marketing 
     364,856  
     459,341  
     (94,485) 
     -21%
  
    General and administrative 
     14,531,883  
     13,091,503  
     1,440,380  
     11%
  
    Transaction costs including those incurred with contingent earn-out share liability 
     25,000  
     55,038,544  
     (55,013,544) 
     NM 
  
    Depreciation and amortization 
     421,096  
     205,111  
     215,985  
     105%
  
    Total operating expenses 
     15,507,713  
     69,947,429  

    Loss from operations 
     (15,333,775) 
     (69,896,852) 

    Other Income (Expense): 

    Other income, net 
     2,112  
     21,398  
     (19,286) 
     (90)%
  
    UK R&D tax credit 
     1,223,328  
     1,251,243  
     (27,915) 
     (2)%
  
    Loss on initial issuance of convertible note 
     -  
     (1,770,933) 
     1,770,933  
     NM 
  
    Change in fair value of convertible note option liability 
     60,000