Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 108

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 108
---
 three months ended September 30, 2023. Interest
expense decreased by $3.1 million, or 69%, in the nine months ended September 30, 2024 compared to the nine months ended September 30,
2023. The decrease was due to loans coming to term or being converted into equity.

<div align='center'>60</div>

Year ended December 31, 2023 compared to year ended December 31, 2022

|                                              |     | Year ended December 31, |        2023 |   |     |   |        2022 |   |     |        |            |   |     |     |      % |    |
|:---------------------------------------------|:----|:------------------------|------------:|:--|:----|:--|------------:|:--|:----|:-------|-----------:|:--|:----|:----|-------:|:---|
|                                              |     |                         |             |   |     |   |             |   |     | Change |            |   |     |     |        |    |
| Revenue, net                                 |     | $                       |   9,072,130 |   |     | $ |     224,052 |   |     | $      |  8,848,078 |   |     |     |   3949 | %  |
| Cost of Goods Sold                           |     |                         |     466,802 |   |     |   |     285,311 |   |     |        |    181,491 |   |     |     |     64 | %  |
| Gross Profit (loss)                          |     |                         |   8,605,328 |   |     |   |     (61,259 | ) |     |        |  8,666,587 |   |     |     | 14,147 | %  |
| Operating Expenses:                          |     |                         |             |   |     |   |             |   |     |        |            |   |     |     |        |    |
| Product development                          |     |                         |     693,448 |   |     |   |   3,226,773 |   |     |        | (2,533,325 | ) |     |     |    (79 | )% |
| Sales and Marketing                          |     |                         |     215