Company: VEEAW
Filing Date: 2025-07-07
Form Type: DRS
Source: 0001213900-25-061586
Chunk: 265

Company: VEEA INC.
Filing Date: 2025-07-07
Form: DRS
Chunk 265
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| Hardware, net |     | $                           | 110,529 |     | $ |    22,612 |
| License       |     |                             |  11,920 |     |   | 9,006,716 |
| Subscription  |     |                             |   1,116 |     |   |       243 |
| Others        |     |                             |  18,195 |     |   |    42,559 |
| Total         
 Revenue       |     | $                           | 141,760 |     | $ | 9,072,130 |

Warranties

The Company accrues the estimated cost of product warranties at the time of recognizing revenue. The Company’s standard product warranty terms generally include post-sales support and repairs or replacement of a product at no additional charge for a specified period of time. The Company actively monitors and evaluates the quality of its component suppliers. The estimated warranty obligation is based on contractual warranty terms, repair costs, and the Company’s baseline experience. The Company’s standard warranty terms are twelve months. Warranty expense was not significant for the years ended December 31, 2024 and 2023.

Accounts Receivable

Trade accounts receivable are recognized and carried at billed amounts less an allowance for credit losses. The Company adopted the Current Expected Credit Losses (“CECL”) guidance effective January 1, 2023. The Company maintains the allowance for estimated losses resulting from the inability of the Company’s customers to make required payments. The allowance represents the current estimate of lifetime expected credit losses over the remaining duration of existing accounts receivable considering current market conditions and supportable forecasts when appropriate. The estimate is a result of the Company’s ongoing evaluation of collectability, customer creditworthiness, historical levels of credit losses, and future expectations. The allowance for credit losses were not significant as of December 31, 2024 and 2023.

Inventory

The Company values inventory at the lower of cost or net realizable
value. Cost is computed using standard cost which approximates actual cost on a first-in, first-out basis. At each reporting period, the
Company assesses the value of its inventory and writes down the cost of inventory to its net realizable value, if required, for estimated
excess or obsolescence. Factors influencing these adjustments include changes in future demand forecasts, market conditions, technological
changes, product life cycle and development plans, component cost trends, product pricing