VEEA INC. VEEA
were originally incorporated under the name "Plum Acquisition Corp. I." as a blank check company incorporated as a Cayman
Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization,
or similar business combination with one or more businesses. As discussed in this Annual Report, we completed the Business Combination
are dedicated to simplifying the journey towards creating a world in which virtually everyone and everything is intelligently connected,
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $222.0K | $141.8K | $9.1M | — | — | — |
| Cost of revenue | $70.0K | $83.3K | $466.8K | — | — | — |
| Gross profit | $152.0K | $58.5K | $8.6M | — | — | — |
| R&D | $328.4K | $1.4M | $693.4K | — | — | — |
| SG&A | $17.7M | $26.6M | $17.2M | — | — | — |
| Total operating expenses | $19.0M | $84.1M | $19.0M | $4.1M | — | — |
| Operating income | -$18.8M | -$84.1M | -$10.4M | -$4.1M | -$2.9M | — |
| Interest expense | $2.2M | $1.8M | $5.3M | — | — | — |
| Pre-tax income | -$6.7M | -$47.5M | -$15.6M | — | — | — |
| Income tax | $670 | $15.3K | $74.5K | — | — | — |
| Net income | -$6.7M | -$47.5M | -$15.6M | $10.6M | $6.6M | — |
| EPS, basic | -0.16 | -1.88 | -0.97 | — | — | — |
| EPS, diluted | -0.16 | -1.88 | -0.97 | — | — | — |
| Shares, diluted (wtd. avg.) | $42.8M | $25.3M | $16.2M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $133.9K | $1.7M | $6.0M | $185.9K | $107.2K | $0 |
| Receivables | $139.8K | $84.7K | $52.8K | — | — | — |
| Inventory | $9.7M | $7.5M | $7.4M | — | — | — |
| Total current assets | $15.6M | $14.9M | $14.0M | $130.0K | $450.9K | — |
| Property, plant and equipment | $91.8K | $210.6K | $376.7K | — | — | — |
| Goodwill | $5.1M | $4.8M | $4.8M | $4.6M | — | — |
| Other intangibles | $7.4M | $786.1K | $628.5K | — | — | — |
| Total assets | $28.2M | $21.1M | $20.8M | $324.0M | $319.7M | — |
| Accounts payable | $4.1M | $1.3M | $1.1M | $2.6M | $1.1M | — |
| Total current liabilities | $31.8M | $20.1M | $32.2M | $3.9M | $1.2M | — |
| Long-term debt | — | $12.8M | $23.9M | — | — | — |
| Total liabilities | $38.0M | $38.1M | $32.3M | $15.4M | $21.7M | — |
| Retained earnings | -$224.5M | -$217.8M | -$170.3M | -$15.3M | -$21.2M | — |
| Total equity | -$9.8M | -$17.0M | -$11.5M | -$30.3M | -$21.2M | $0 |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$15.2M | -$25.6M | -$12.7M | -$1.0M | -$2.1M | — |
| Depreciation and amortisation | $632.5K | $273.8K | $226.0K | — | — | — |
| Stock-based compensation | $1.1M | $6.7M | $484.6K | — | — | — |
| Capital expenditure | $8.2K | $46.2K | $35.0K | — | — | — |
| Investing cash flow | -$247.3K | -$265.4K | -$155.1K | $0 | -$319.2M | — |
| Financing cash flow | $13.9M | $21.6M | $18.6M | $1.0M | $321.5M | — |
| Buybacks | — | — | $294.3M | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-053967.
Others in SIC 7373
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| IOT | Samsara Inc. | $23.39B | — | 29.6% |
| LDOS | Leidos Holdings, Inc. | $16.70B | 11.9x | 3.2% |
| IONQ | IonQ, Inc. | $15.06B | — | 201.9% |
| CACI | CACI INTERNATIONAL INC /DE/ | $13.78B | 25.8x | 10.9% |
| GDDY | GoDaddy Inc. | $12.83B | 16.3x | 8.3% |
| AUR | Aurora Innovation, Inc. | $12.53B | — | — |
| JKHY | JACK HENRY & ASSOCIATES INC | $11.61B | 23.7x | 7.1% |
| OTEX | OPEN TEXT CORP | $5.80B | 9.3x | 1.5% |