Company: VEEAW
Filing Date: 2025-07-23
Form Type: S-1
Source: 0001213900-25-066815
Chunk: 274

Company: VEEA INC.
Filing Date: 2025-07-23
Form: S-1
Chunk 274
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 period for domestic expenses. As a result of this provision of the TaxAct, deferred tax assets related to capitalized research expenses increased by $ 6,114,653in 2024, partially offset by amortization on research expenses.

F-62 Veea Inc. and Subsidiaries
Notes to the Consolidated Financial Statements
For the Years ended December 31, 2024 and 2023

17 - SEGMENTATION

ASC Topic 280, “Segment Reporting,”
establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic
areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities from which
it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by
the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance.

The Company’s chief operating
decision maker (“CODM”) has been identified as the CEO, who reviews the assets, operating results, and financial metrics for
the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined
that there is only reportable segment.

The CODM assesses the performance of and
decides how to allocate resources for the one segment based on consolidated net loss. Further, EBITDA (earnings before interest taxes,
depreciation and amortization), which is not presented on the face of the Company’s Consolidated Statements of Operations, is used
to assist with the measurement of segment performance and allocate resources. The CODM also uses net loss and adjusted EBITDA, to decide
the level of investment in various operating activities and other capital allocation activities.

The measure of segment assets is reported
on the Company’s Consolidated Balance Sheets as Total Assets.

The following table presents the Company’s
segment results for the years ended December 31, 2024 and 2023:

|                                                                                     |     | For the years ended 
 December 31,        |        2024 |   |     |   |        2023 |   |
|:------------------------------------------------------------------------------------|:----|:--------------------|------------:|:--|:----|:--|------------:|:--|
| Sales, net                                                                          |     | $                   |     141,760 |   |     | $ |   9,072,130 |   |
| Cost of goods sold                                                                  |     |                     |