Veea Inc 2026年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to ________. Commission file number: 001-40218 VEEA INC.(Exact name of Registrant as specified in its charter) Delaware98- 1577353(State or other jurisdiction of(I.R.S. Employer Registrant’s telephone number, including area code: (212) 535-6050 Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days.☒Yes☐No Indicate by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).☒Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of large accelerated filer, accelerated filer, smaller reporting company,and emerging growth company in Rule 12b-2 of the Exchange Act. Large Accelerated FilerNon-Accelerated Filer Accelerated FilerSmaller Reporting CompanyEmerging Growth Company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐Yes☒No As of May 13, 2026, there were 50,407,567 shares of the registrant’s common stock issued and outstanding. VEEA INC.FORM 10-Q TABLE OF CONTENTS PART I. FINANCIAL INFORMATION1ITEM 1.Financial Statements1Condensed Consolidated Balance Sheet as of March 31, 2026 (Unaudited) and December 31, 20251Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for theThree Months Ended March 31, 2026 and 20252Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Deficit for the Three MonthsEnded March 31, 2026 and 20253Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026and 20254Notes to Unaudited Condensed Consolidated Financial Statements5ITEM 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations27ITEM 3.Quantitative and Qualitative Disclosures about Market Risk33ITEM 4.Controls and Procedures33PART II. OTHER INFORMATION34ITEM 1.Legal Proceedings34ITEM 1A.Risk Factors34ITEM 2.Unregistered Sales of Equity Securities and Use of Proceeds34ITEM 3.Defaults Upon Senior Securities34ITEM 4.Mine Safety Disclosures34ITEM 5.Other Information34ITEM 6.Exhibits35SIGNATURES36 PART I. FINANCIAL INFORMATION VEEA INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS VEEA INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)(Unaudited) For the Three MonthsEndedMarch 31,20262025Sales, net$180,417$14,262Cost of goods sold22,66712,330Gross profit157,7501,932 Operating Expenses:Product development148,600215,575Sales and marketing42,115349,251General and administrative4,792,2845,109,473Transaction costs-35,000Depreciation and amortization204,99260,116Total operating expenses5,187,9915,769,415Loss from operations(5,030,241)(5,767,483) VEEA INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)(Unaudited) FOR THE THREE MONTHS ENDED MARCH 31, 2026 VEEA INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) Veea Inc. and SubsidiariesNotes to the Condensed Consolidated Financial Statements(Unaudited) 1 - DESCRIPTION OF BUSINESS The Company is dedicated to simplifying the journey towards creating a world in which virtually everyone and everything isintelligently connected, while bringing applications and artificial intelligence to the edge of the network. Most service providers,equipment suppliers, system integrators and even hyperscalers have adopted or advocated for similar solutions to various degreeseither independently or in collaboration with the Company. However, to our knowledge, we are the first to market with patentedtechnologies that (a) bring virtualized data center capabilities to the far edge of the network, commonly referred to as the DeviceEdge, where all wired and wireless devices connect to the network, (b) spawns hyperconvergence of c