Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002716
Chunk: 108

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 108
---
2024 compared to year ended September 30, 2023

The following table sets
forth Veea’s unaudited statements of operations data for the three and nine months ended September 30, 2024 and 2023, respectively.
Veea has prepared the three and nine-month data on a consistent basis with the audited consolidated financial statements as of and for
the years ended December 31, 2023 and 2022 included in the Form S-4/A filed with the SEC on May 13, 2024. In the opinion of Veea’s
management, the unaudited three- and nine-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 | September 30, 
          2024 |   |     |   | September 30, 
          2023 |   |     |   |      Change |   |     | % |        |    |
|:-----------------------------------------------------------|:----|:---------------------------|--------------:|:--|:----|:--|--------------:|:--|:----|:--|------------:|:--|:----|:--|-------:|:---|
| Revenues, net                                              |     | $                          |        50,683 |   |     | $ |     9,009,254 |   |     | $ |  (8,958,571 | ) |     |   |    (99 | )% |
| Cost of Goods Sold                                         |     |                            |        14,997 |   |     |   |        24,307 |   |     |   |      (9,310 | ) |     |   |    (38 | )% |
| Gross profit                                               |     |                            |        35,686 |   |     |   |     8,984,947 |   |     |   |  (8,949,261 | ) |     |   |   (100 | )% |
| Operating Expenses:                                        |     |                            |               |   |     |   |               |   |     |   |             |   |     |   |        |    |
| Product development                                        |     |                            |       356,761 |   |     |   |       185,764 |   |     |   |     170,997 |