Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 190

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 190
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were not significant as of December 31, 2023 and December 31, 2022.

Disaggregation of Revenue

The following tables summarize
revenue from contracts with customers for the year ended December 31, 2023 and 2022, respectively:

|               |     | Years Ended December 31, |      2023 |     |   |    2022 |
|:--------------|:----|:-------------------------|----------:|:----|:--|--------:|
| Hardware, net |     | $                        |    22,612 |     | $ | 188,244 |
| License       |     |                          | 9,006,716 |     |   |   6,531 |
| Subscription  |     |                          |       243 |     |   |   5,366 |
| Others        |     |                          |    42,559 |     |   |  23,911 |
| Total revenue |     | $                        | 9,072,130 |     | $ | 224,052 |

|                   |     | Years Ended December 31, |      2023 |     |   |    2022 |
|:------------------|:----|:-------------------------|----------:|:----|:--|--------:|
| United States     |     | $                        |    52,133 |     | $ | 175,327 |
| Republic of Korea |     |                          |    13,878 |     |   |  34,362 |
| Rest of the world |     |                          | 9,006,119 |     |   |  14,363 |
| Total revenue     |     | $                        | 9,072,130 |     | $ | 224,052 |

Warranties

The Company accrues the
estimated cost of product warranties at the time of recognizing revenue. The Company’s standard product warranty terms generally
include post-sales support and repairs or replacement of a product at no additional charge for a specified period of time. The Company
actively monitors and evaluates the quality of its component suppliers. The estimated warranty obligation is based on contractual warranty
terms, repair costs, and the Company’s baseline experience. The Company’s standard warranty terms are twelve months.
Warranty expense was not significant for the years ended December 31, 2023 and December 31, 2022.

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