Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003888
Chunk: 115

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 115
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ed 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 not meant as a substitute for the related financial information prepared and presented in accordance with GAAP.

The following table provides
a reconciliation of net loss to adjusted EBITDA to net loss for the periods presented:

|                                                          |     | For the Three Months 
 Ended                
 September 30,        
 2024                 |             |   |     | September 30, 
 2023          |           |   |     | For the Nine Months 
 Ended               
 September 30,       
 2024                |             |   |     | September 30, 
 2023          |            |   |
|:---------------------------------------------------------|:----|:---------------------|------------:|:--|:----|:--------------|----------:|:--|:----|:--------------------|------------:|:--|:----|:--------------|-----------:|:--|
| ADJUSTED EBITDA:                                         |     |                      |             |   |     |               |           |   |     |                     |             |   |     |               |            |   |
| Net (loss) Income                                        |     | $                    | (33,323,555 | ) |     | $             | 1,961,799 |   |     | $                   | (46,620,619 | ) |