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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | $9.1M | $141.8K | $222.0K |
| Gross profit | — | — | — | $8.6M | $58.5K | $152.0K |
| Net income | — | $6.6M | $10.6M | -$15.6M | -$47.5M | -$6.7M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed Item 1.01
- New debt or obligation Item 2.03
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed Item 1.01
- Material agreement signed Item 1.01
- New debt or obligation Item 2.03
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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