Company: VEEAW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078177
Chunk: 294

Company: VEEA INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 294
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 Telcel SIM cards.

The
Supply Agreement sets forth the general guidelines, terms and conditions that govern the solution implementation and marketing, as well
as the provisioning of the services provided by VeeaSystems. Under the agreement, VeeaSystems will supply a comprehensive Platform-as-a-Service
solution featuring 5G-based Fixed Wireless Access (FWA) through its VeeaHub STAXÒ-5G
device, which incorporates 4G and 5G cellular connectivity, Wi-Fi 6 Access Point, IoT gateway, storage and Linux server capabilities to
deliver connectivity with integrated AI-driven cybersecurity services, managed connectivity, and monitoring tools while capable of hosting
applications on STAX-5G including third-party application. The parties have agreed to work together in the development of the marketing
strategy, branding and promotion of VeeaSystems’s services to Telcel’s customers in Mexico. The agreement provides for an
initial term of three years and automatically renews for successive one-year terms, unless either party elects not to renew upon 90-day
prior notice.

Appointment of Acting Chief Financial
Officer 

On July 15, 2025, Randal V. Stephenson
was appointed as the Company’s Acting Chief Financial Officer.

Appointment of Acting Chief Revenue
Officer

On July 15, 2025, Mr. Helder Antunes
a current member of the Company’s Board of Directors was appointed acting Chief Revenue Officer.

23

Item 2. Management’s Discussion and Analysis of Financial
Condition and Results of Operations

The following discussion
and analysis of the financial condition and results of operations of Veea should be read together with our audited consolidated financial
statements and unaudited consolidated condensed financial statements. In addition to our historical consolidated financial information,
this discussion includes forward-looking information regarding our business, results of operations and cash flows, and contractual obligations
and arrangements that involve risks, uncertainties, and assumptions. Our actual results may differ materially from any future results
expressed or implied by such forward-looking statements as a result of various factors, including, but not limited to, those discussed
in the Company’s most recent Annual Report on Form 10-K filed with the SEC on April 15, 2025.

Unless the context otherwise
requires, references in this “Management’s Discussion and Analysis of Financial Condition and Results of Operations”
to “Veea,” “we”, “us”, “our”, and the “Company” are intended to refer to (i)
following the Business Combination