Financial Performance - Veea incurred net losses of approximately 33.3millionand46.4 million for the three and nine months ended September 30, 2024, respectively[140]. - Veea generated net revenue of approximately 51,000and108,000 for the three and nine months ended September 30, 2024, respectively, compared to approximately 9,000and40,000 for the same periods in 2023[140]. - The Company generated revenue of 50,683forthethreemonthsendedSeptember30,2024,adecreaseof999,009,254 for the same period in 2023[155]. - For the nine months ended September 30, 2024, revenue was 108,264,down999,040,359 in 2023, primarily due to 9millionrecognizedfromthelicenseofAdEdge™in2023[155].−Thecompanyincurrednetlossesof46.6 million for the nine months ended September 30, 2024, compared to 9.4millionforthesameperiodin2023[168].−AsofSeptember30,2024,thecompanyhadanaccumulateddeficitof216.9 million, up from 170.3millionasofDecember31,2023[168].−AdjustedEBITDAforthethreemonthsendedSeptember30,2024,was(2,331,722), compared to 3,505,189forthesameperiodin2023[170].BusinessDevelopments−TheBusinessCombinationwithPlumAcquisitionCorp.IwascompletedonSeptember13,2024,resultinginVeeaInc.becomingawhollyownedsubsidiaryofPlum[141].−TheBusinessCombinationwasaccountedforasa"reverserecapitalization,"withnogoodwillorotherintangibleassetsrecorded[143].−TheCompanyraised1.45 million from the issuance of convertible promissory notes as part of a private placement offering, with a commitment for an additional 13.55million[144].−Thecompanyplanstofundoperationsthroughacombinationofprivateandpublicequityanddebtofferings,witharemainingconvertiblenotecommitmentofapproximately13.6 million[170]. Expenses and Costs - Total operating expenses for the three months ended September 30, 2024, were 57,533,067,a9225,631,507 for the same period in 2023[153]. - Cost of goods sold decreased by approximately 9,310,or3810,524, or 22%, for the nine months ended September 30, 2024, compared to the same period in 2023[156]. - Product development expenses increased by 170,997,or92476,327, or 70%, for the nine months ended September 30, 2024, compared to the same period in 2023[157]. - Sales and marketing expenses decreased by 57,006,or41160,211, or 54%, for the nine months ended September 30, 2024, compared to the same period in 2023[158]. - General and administrative expenses decreased by 3.2million,or627,588, or 10%, for the three months ended September 30, 2024, and by 529,195,or721.3 million, or 75%, for the three months ended September 30, 2024, and by 3.1million,or697.50 per share[144]. - The fair value of the earn-out share liability was 24.8millionforthethreeandninemonthsendedSeptember30,2024,determinedusingaMonteCarlosimulation[165].−Thecompanyrecordedacontingentearn−outshareliabilityof53.6 million for the three and nine months ended September 30, 2024, as part of transaction costs[161]. Tax Credits - The company received an R&D tax credit of $1.2 million from its UK subsidiary[164].