Company: VEEAW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111013
Chunk: 174

Company: VEEA INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 174
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 amortization: Depreciation and amortization expense consists of depreciation of Veea’s property and equipment and amortization of Veea’s patents and other intellectual property.

    ●
    Impairment: Impairment consists of impairment charges related to our in-process research and development (“IPR&D”)

32

Results of Operations

The following tables set
forth the results of our operations for the periods presented, as well as the changes between periods. The period-to-period comparison
of financial results is not necessarily indicative of future results.

For the three months ended September 30,
2025 compared to three months ended September 30, 2024 and the nine months ended September 30, 2025 compared to three months ended September
30, 2024

The following table sets
forth Veea’s unaudited statements of operations data for the three and nine months ended September 30, 2025 and 2024, respectively.
Veea has prepared the 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 2024 10-K. 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,  2025  
    September 30, 2024  
    Change 

    Revenues, net 
    $144,926  
    $50,683  
    $94,243  
     186%
  
    Cost of Goods Sold 
     53,006  
     14,997  
     38,009  
     253%
  
    Gross profit 
     91,920  
     35,686  

    Operating Expenses: 

    Product development 
     -  
     356,761  
     (356,761) 
     -100%
  
    Sales and marketing 
     15,555  
     80,937  
     (65,382) 
     (81)%
  
    General and administrative 
     4,522,588  
     1,989,095  
     2,533,495  
     127%