Company: VEEAW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001213900-25-046124
Chunk: 136

Company: VEEA INC.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 2
Chunk 136
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 Veea’s unaudited statements of operations data for the three months ended March 31, 2025 and 2024, respectively. Veea has
prepared the three month 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 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  
    $  
    % 

    March 31,  2025  
    March 31, 2024  
    Change 

    Revenues, net 
    $14,262  
    $16,770  
    $(2,508) 
     -15%
  
    Cost of Goods Sold 
     12,330  
     11,984  
    $346  
     3%
  
    Gross profit 
     1,932  
     4,786  

    Operating Expenses: 

    Product development 
     215,575  
     94,223  
    $121,352  
     129%
  
    Sales and marketing 
     349,251  
     86,264  
    $262,987  
     305%
  
    General and administrative 
     5,109,473  
     5,845,775  
    $(736,302) 
     -13%
  
    Transaction costs 
     35,000  
     -  
    $35,000  
     100%
  
    Depreciation and amortization 
     60,116  
     68,916  
    $(8,800) 
     -13%
  
    Total operating expenses 
     5,769,415  
     (6,095,178) 

    Loss from operations 
     (5,767,483) 
     (6,090,392) 

    Other Income (Expense): 

    Other income, net 
     772  
     2,584  
    $(1,812) 
     -70%
  
    Change in fair value of convertible