Company: VEEAW
Filing Date: 2025-08-14
Form Type: 424B4
Source: 0001213900-25-076086
Chunk: 131

Company: VEEA INC.
Filing Date: 2025-08-14
Form: 424B4
Chunk 131
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 fair value of warrant liability, change in fair
value of Earn-out Share Liability and other expense, which includes asset impairments. Our management uses this measure internally to
evaluate the performance of our business and this measure is one of the primary metrics by which our internal budgets are based. We exclude
the above items as some are non-cash in nature, and others are non-recurring that they may not be representative of normal operating results.
This non-GAAP financial measure adjusts for the impact of items that we do not consider indicative of the operational performance of our
business. While we believe that this non-GAAP financial measure is useful in evaluating our business, this information should be considered
as supplemental in nature and is not meant as a substitute for the related financial information prepared and presented in accordance
with GAAP.

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The following table provides
a reconciliation of net loss to adjusted EBITDA to net loss for three months ended March 31, 2025 and 2024:

|                                                          |     | For the Three Months 
 Ended                
 March 31,            
 2025                 |             |   |     | March 31, 
 2024      |            |   |
|:---------------------------------------------------------|:----|:---------------------|------------:|:--|:----|:----------|-----------:|:--|
| ADJUSTED EBITDA:                                         |     |                      |             |   |     |           |            |   |
| Net income (loss)                                        |     | $                    |   4,299,052 |   |     | $         | (6,547,412 | ) |
| Adjustments:                                             |     |                      |             |   |     |           |            |   |
| Interest expense                                         |     |                      |     946,484 |   |     |           |    456,768 |   |
| Depreciation and amortization                            |     |                      |      60,116 |   |     |           |     68,916 |   |
| EBITDA                                                   |     |                      |   5,305,651 |   |     |           | (6,021,728 | ) |
| Change in fair value of conversion note option liability |     |                      |     (59,000 | ) |     |           |          - |   |
| Change in fair value of warrant liabilities              |     |                      |    (420,497 |