Company: VEEAW
Filing Date: 2025-07-07
Form Type: DRS
Source: 0001213900-25-061586
Chunk: 269

Company: VEEA INC.
Filing Date: 2025-07-07
Form: DRS
Chunk 269
---
, gains, and losses that under GAAP are recorded as an element of stockholders’ deficit but are excluded from net loss. The Company’s other comprehensive loss consists of foreign currency translation adjustments that result from the consolidation of its foreign subsidiaries and is reported net of tax effects.

Investments

The Company holds non-marketable equity and other investments (“privately held investments”) which are included in noncurrent assets in the Company’s consolidated balance sheet. The Company monitors these investments for impairments and makes adjustments in carrying values if management determines that an impairment charge is required based primarily on the financial condition and near-term prospects of these investments.

Concentration of Risks

Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash and cash equivalents, and accounts receivable. Cash balances may exceed the Federal Deposit Insurance Corporation (“FDIC”) insurance limit of $250,000. The Company has not experienced any losses in such accounts.

For the year ended December 31, 2024, four customers accounted for 15%, 20%, 15% and 15%, respectively, of the Company’s revenue. For the year ended December 31, 2023 one customer accounted for 99% of the Company’s revenue. For the year ended December 31, 2024, two vendors accounted for 37% and 36%, respectively, of the Company’s total vendor purchases. For the year ended December 31, 2023, one supplier accounted for 39% of the Company’s total supplier purchases.

As of December 31, 2024, three customers accounted for 11%, 14% and 17% of the Company’s accounts receivable, and two vendors accounted for 19% and 13% of the Company’s accounts payable balance. As of December 31, 2023, two customers accounted for 36% and 23% of the Company’s accounts receivable, and no vendor accounted for 10% or more of the Company’s accounts payable balance.

<div align='center'>F-38

Veea Inc. and Subsidiaries
Notes to the Consolidated Financial Statements
For the Years ended December 31, 2024 and 2023</div>

Earnings per Share, recasted

Basic net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the year. Diluted net loss per share is based upon the diluted weighted-average number of shares outstanding