Company: VEEAW
Filing Date: 2025-08-12
Form Type: S-1/A
Source: 0001213900-25-074676
Chunk: 122

Company: VEEA INC.
Filing Date: 2025-08-12
Form: S-1/A
Chunk 122
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 | 38,040,000 |   |     |     |       NM |   |
| Other expense                                              |     |   |     (244,732 | ) |     |   |      (21,857 | ) |     | $ |   (222,875 | ) |     |     |     1020 | % |
| Interest expense                                           |     |   |   (1,808,243 | ) |     |   |   (5,318,817 | ) |     | $ |  3,510,574 |   |     |     |      -66 | % |
| Total other income and expense                             |     |   |   36,529,782 |   |     |   |   (5,278,750 | ) |     |   |            |   |     |     |          |   |
| Net loss                                                   |     | $ |  (47,547,768 | ) |     | $ |  (15,638,589 | ) |     |   |            |   |     |     |          |   |

Revenue, net The Company generated revenue of $141,760 and $9,072,130 for the years ended December 31, 2024 and 2023, respectively. Revenue has been principally earned from paid pilots for our VeeaHub ®devices. The decrease was due to $9 million income recognized in connection with the license of AdEdge™ in 2023. Our focus over the past several years has been on field testing and refining our product to meet customer needs as well as market developments. As a result of these efforts, we expect revenue to grow over the next several quarters through the sales of our hardware, licenses and subscriptions. We are especially focused in four principal market opportunities: 1) Digital Equity and Inclusion, 2) Energy and Sustainability solutions for Smart Buildings and Climate Smart Agriculture, 3) Convergence of Fixed, Wireless, and 5G Networks, and 4) Smart Retail and Smart Warehouses. Cost of Goods Sold Cost of goods sold decreased by $383,512, or 82%, in the year ended December 31, 2024 compared to the year ended December 31, 2023. The decrease is immaterial as it is related to the costs incurred to generate our revenue earned from paid pilots for our VeeaHub ®devices. Product Development Expense Product development expense increased by $679,903, or 98%, in the