Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 1236

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 1236
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 there is only one reportable segment.

The CODM assesses the performance of and
decides how to allocate resources for the one segment based on consolidated net loss. Further, EBITDA (earnings before interest taxes,
depreciation and amortization), which is not presented on the face of the Company’s Consolidated Statements of Operations, is used
to assist with the measurement of segment performance and allocate resources. The CODM also uses net loss and adjusted EBITDA, to decide
the level of investment in various operating activities and other capital allocation activities.

The measure of segment assets is reported
on the Company’s Consolidated Balance Sheets as Total Assets.

The following table presents the Company’s
segment results for the years ended December 31, 2024 and 2023:

    For the years ended 

    December 31, 

    2024  
    2023 
  
    Sales, net 
    $141,760  
    $9,072,130 
  
    Cost of goods sold 
     83,290  
     466,802 
  
    Segment Gross profit 
     58,470  
     8,605,328 

    Operating Expenses: 

    Product development 
     1,373,351  
     693,448 
  
    Sales and marketing 
     811,537  
     215,332 
  
    General and administrative (A) 
     19,171,965  
     17,238,184 
  
    Transaction costs including those incurred with contingent Earn-out Share Liability 
     55,038,544  
     - 
  
    Depreciation and amortization 
     273,772  
     818,203 
  
    Impairment on investment 
     216,278  

    Stock-based compensation 
     6,699,081  

    Inventory impairment 
     551,492  

    Other income, net 
     (21,390) 
     59,982 
  
    UK R&D tax credit 
     (1,251,243) 
     - 
  
    Loss on initial issuance of convertible note 
     1,770,933  
     - 
  
    Change in fair value of convertible note option liability 
     (840,933) 
     - 
  
    Change in fair value of warrant liabilities 
     (200,