VEEA (VEEA) financial statements
VEEA reported revenue of $222,018 in fiscal 2025, down 84.4% a year over 2 years.
Net income was -$7M.
Free cash flow was -$15M.
The diluted share count rose 165% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from VEEA's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | — | — | $9M | $141,760 | $222,018 |
| Cost of revenue | — | — | $466,802 | $83,290 | $69,981 |
| Gross profit | — | — | $9M | $58,470 | $152,037 |
| Research and development | — | — | $693,448 | $1M | $328,422 |
| Selling, general and admin | — | — | $17M | $27M | $18M |
| Operating income | -$3M | -$4M | -$10M | -$84M | -$19M |
| Interest expense | — | — | $5M | $2M | $2M |
| Income tax | — | — | $74,497 | $15,325 | $670 |
| Net income | $7M | $11M | -$16M | -$48M | -$7M |
| EPS (diluted) | — | — | -$0.97 | -$1.88 | -$0.16 |
| Diluted shares | — | — | 16M | 25M | 43M |
| Gross margin | — | — | 94.9% | 41.2% | 68.5% |
| Operating margin | — | — | -114.2% | -59309.8% | -8483.7% |
| Net margin | — | — | -172.4% | -33541.0% | -2999.8% |
Balance sheet
Fiscal years, from VEEA's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and short-term investments | $107,224 | $86,401 | $6M | $2M | $133,860 |
| Receivables | — | — | $52,838 | $84,655 | $139,833 |
| Inventory | — | — | $7M | $7M | $10M |
| Total current assets | $450,854 | $130,032 | $14M | $15M | $16M |
| Property, plant and equipment | — | — | $376,667 | $210,629 | $91,809 |
| Goodwill | — | $5M | $5M | $5M | $5M |
| Total assets | $320M | $324M | $21M | $21M | $28M |
| Total current liabilities | $1M | $4M | $32M | $20M | $32M |
| Total liabilities | $22M | $15M | $32M | $38M | $38M |
| Shareholders' equity | -$21M | -$30M | -$11M | -$17M | -$10M |
| Net debt | -$107,224 | -$86,401 | -$6M | -$2M | -$133,860 |
Cash flow
Fiscal years, from VEEA's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating cash flow | -$2M | -$1M | -$13M | -$26M | -$15M |
| Capital spending | — | — | $34,966 | $46,204 | $8,209 |
| Free cash flow | — | — | -$13M | -$26M | -$15M |
| Stock-based compensation | — | — | $484,584 | $7M | $1M |
| Share buybacks (net) | — | — | -$294M | — | — |
| Net borrowing | — | — | $5M | — | $1M |
| Free cash flow margin | — | — | -139.9% | -18087.8% | -6862.5% |
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Open VEEA in InvestinglyQuestions
What was VEEA's revenue in 2025?
$222,018 in fiscal 2025, from its 10-K filing.
How much free cash flow does VEEA generate?
-$15M in fiscal 2025 (operating cash flow minus capital spending).
From VEEA's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.