Company: VEEAW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001213900-25-046124
Chunk: 10

Company: VEEA INC.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 generally accepted under GAAP.

6

Use of Estimates

Management of the Company is required
to make certain estimates, judgments, and assumptions during the preparation of its condensed consolidated financial statements in accordance
with GAAP. The Company believes that these estimates, judgments and assumptions are reasonable under the circumstances. These estimates,
judgments, and assumptions impact the reported amounts of assets, liabilities, revenue, and expenses, and the related disclosure of contingent
assets and liabilities. Actual results could differ from these estimates. Changes in such estimates could affect amounts reported in future
periods. On an ongoing basis, the Company evaluates its estimates and judgments including those related to: liquidity and going concern,
the useful lives and recoverability of property and equipment and definite-lived intangible assets; the recoverability of goodwill and
indefinite-lived intangible assets; the carrying value of accounts receivable, including the determination of the allowance for credit
losses; inventory, including the determination of allowances for estimated excess or obsolescence; the fair value of warrants; the fair
value of acquisition-related contingent consideration arrangements; the fair value of the ELOC; unrecognized tax benefits; legal contingencies;
the incremental borrowing rate for the Company’s leases; and the valuation of stock-based compensation, among others.

Emerging Growth Company Status

The Company is an emerging growth
company, as defined in the JOBS Act. Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards
issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies. The Company has elected
to use this extended transition period for complying with new or revised accounting standards that have different effective dates for
public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively
and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, these financial statements may not
be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates.

Segment Information

The Company operates as a single operating
segment. The chief operating decision maker is the Company’s Chief Executive Officer, who makes resource allocation decisions and
assesses performance based on financial information presented on a consolidated basis, accompanied by disaggregated revenue information.
Accordingly, the Company has determined that it has a single reportable segment and operating segment. The majority of the Company’s
assets as of March 31,