Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 275

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 275
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:                        |     |                    |             |   |     |      |            |
| Net income (loss)                                    |     | $                  |       (1.49 | ) |     | $    |       0.12 |

15 - SEGMENTATION

As described in Note 3, the Company operates as one reportable
segment - sale of smart computing hubs and related subscriptions and licenses.

Major Customers

For the three months ended September
30, 2024 two customers accounted for % and % of the Company’s revenue. For the nine months ended September 30, 2024 one customer
accounted for % of the Company’s revenue. For the three and nine months ended September 30, 2023, one customer accounted for approximately
% of the Company’s revenue.

Long-lived Assets

The majority of the Company’s assets as of September
30, 2024 and December 31, 2023 were attributable to its U.S. operations. The Company’s long-lived assets are based on the physical
location of the assets.

| Long-Lived Assets       
 United States           |     | As of         
 September 30, 
 2024          |           |     | As of        
 December 31, 
 2023         |           |
|:------------------------|:----|:--------------|----------:|:----|:-------------|----------:|
| ROU Asset               |     | $             |   204,915 |     | $            |   545,411 |
| PP&E, net               |     |               |   217,995 |     |              |   339,936 |
| Goodwill                |     |               | 5,076,791 |     |              | 4,797,078 |
| Intangible Assets, net  |     |               |   757,697 |     |              |   628,477 |
| Total                   |     | $             | 6,257,398 |     | $            | 6,310,902 |
| Rest of World           |     |               |           |     |              |           |
| PP&E, net               |     |               |    34,158 |     |              |    36,731 |
| Intangible Assets, net  |     |               |         - |     |              |         - |
| Total                   |     | $             |    34,158 |     | $            |