<span item_type="fundamental" item_id="04deddcaae679a3f6b771175ef05b6a1" counter_id="ST/US/VEEA" env="prod"></span><span item_type="announcement" item_id="637967867184945409" env="prod"></span><p>Revenue: As of FY2025, the actual value is USD 222.02 K.</p><p>EPS: As of FY2025, the actual value is USD -0.16.</p><p>EBIT: As of FY2025, the actual value is USD -16.63 M.</p><p></p><h4>Net Loss and Sales</h4><p>Veea Inc. reported a net loss of - $6,660,038 for the year ended December 31, 2025, a significant improvement from the - $47,547,768 net loss for the year ended December 31, 2024. The company’s sales, net, increased by 57% to $222,018 in 2025 from $141,760 in 2024, primarily from paid pilots for its VeeaHub® devices <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840317/000121390026043667/ea0284771-10k_veeainc.htm"></span>.</p><h4>Gross Profit</h4><p>Cost of goods sold decreased by -16% to $69,981 in 2025 from $83,290 in 2024. Gross profit was $152,037 in 2025 compared to $58,470 in 2024 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840317/000121390026043667/ea0284771-10k_veeainc.htm"></span>.</p><h4>Operating Expenses</h4><p>Product development expenses decreased by -76% to $328,422 in 2025 from $1,373,351 in 2024, due to decreased internal development costs. Sales and marketing expenses decreased by -57% to $349,004 in 2025 from $811,537 in 2024, mainly due to a reduction in unpaid customer pilots. General and administrative expenses decreased by -34% to $17,652,467 in 2025 from $26,638,816 in 2024, primarily due to a decline in share-based compensation expense of approximately $6.8 million. Transaction costs were $25,000 in 2025, significantly lower than $55,038,544 in 2024. Depreciation and amortization increased by 131% to $632,479 in 2025 from $273,772 in 2024, due to additional amortization for technology assets acquired from Crowdkeep, Inc. in May 2025. Loss from operations improved to - $18,835,335 in 2025 from - $84,077,550 in 2024 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840317/000121390026043667/ea0284771-10k_veeainc.htm"></span>.</p><h4>Other Income (Expense)</h4><p>UK R&amp;D tax credit was $1,202,554 in 2025 compared to $1,251,243 in 2024. Change in fair value of convertible note option liability was $60,000 in 2025 compared to $840,933 in 2024. Change in fair value of warrant liabilities was $360,685 in 2025 compared to $200,124 in 2024. Change in fair value of Earn-out Share Liability was $13,016,400 in 2025 compared to $38,040,000 in 2024. Interest expense increased to - $2,202,220 in 2025 from - $1,808,243 in 2024 due to additional draws on the revolving line of credit and new related party notes <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840317/000121390026043667/ea0284771-10k_veeainc.htm"></span>.</p><h4>Cash Flow</h4><p>Net cash used in operating activities was - $15,227,760 in 2025, an improvement from - $25,595,008 in 2024. Net cash used in investing activities was - $247,337 in 2025, similar to - $265,445 in 2024. Net cash provided by financing activities was $13,936,539 in 2025, down from $21,572,753 in 2024 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840317/000121390026043667/ea0284771-10k_veeainc.htm"></span>.</p><h4>Liquidity and Capital Resources</h4><p>Operating losses were - $18.8 million in 2025 and - $84.1 million in 2024. The accumulated deficit was $224.5 million as of December 31, 2025. Cash was $0.1 million as of December 31, 2025, down from $1,685,633 in 2024. Outstanding debt was $19.8 million as of December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840317/000121390026043667/ea0284771-10k_veeainc.htm"></span>.</p><h4>Outlook / Guidance</h4><p>Veea Inc. expects revenue to grow over the next several quarters through sales of hardware, licenses, and subscriptions, focusing on four principal market opportunities including Digital Equity and Inclusion, and Smart Retail and Smart Warehouses. The company plans to fund operations for the next 12 months using revenue, existing financing, and potential new equity and debt financing. Veea Inc. is monitoring the Nasdaq minimum bid price requirement and may consider options like a reverse stock split to regain compliance by September 28, 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840317/000121390026043667/ea0284771-10k_veeainc.htm"></span>.</p>

Veea | 10-K: FY2025 Revenue: USD 222.02 K