Company: VEEAW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078177
Chunk: 303

Company: VEEA INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 303
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expenses into the following categories:

    ●
    Product development expenses. Product development expenses primarily consist of employee compensation, employee benefits, stock-based compensation related to technology developers and product management employees, as well as fees paid for outside services and materials.

    ●
    Sales and marketing expenses. Sales and marketing expenses consist of compensation and other employee-related costs for personnel engaged in selling, marketing and sales support functions. Selling expenses also include marketing and the costs associated with customer evaluations. The Company does not currently incur advertising costs.

    ●
    General and administrative expenses. General and administrative expenses consist of compensation expense (including stock-based compensation expense) for employees and executive management, and expenses associated with finance, tax, and human resources. General and administrative expenses also includes transaction costs, expenses associated with facilities, information technology, external professional services, legal costs and settlement of legal claims and other administrative expenses.

    ●
    Depreciation and amortization: Depreciation and amortization expense consists of depreciation of Veea’s property and equipment and amortization of Veea’s patents and other intellectual property.

    ●
    Impairment: Impairment consists of impairment charges related to our in-process research and development (“IPR&D”)

28

Results of Operations

The following tables set
forth the results of our operations for the periods presented, as well as the changes between periods. The period-to-period comparison
of financial results is not necessarily indicative of future results.

For the three months ended June 30, 2025
compared to three months ended June 30, 2024 and the six months ended June 30, 2025 compared to three months ended June 30, 2024

The following table sets
forth Veea’s unaudited statements of operations data for the three and six months ended June 30, 2025 and 2024, respectively. Veea
has prepared the data on a consistent basis with the audited consolidated financial statements as of and for the years ended December
31, 2024 and 2023, included in the Form 10-K filed with the SEC on April 15, 2025. In the opinion of Veea’s management, the unaudited
three and six month financial information reflects all necessary adjustments, consisting only of normal recurring adjustments, necessary
for a fair presentation of this data.

    For the Three Months Ended  
    $  
    % 

    June 30,  2025  
    June