The company's financial position is increasingly vulnerable, evidenced by a liquidity crisis that saw cash reserves dwindle to $133,860 by 2025Q4 and a debt-to-equity profile complicated by negative equity positions in multiple periods.
| Total Current Assets | 17.14M | 15.57M | 14.88M | 13.95M | 130.03K | 7.54M |
| Cash & Short-Term Investments | 1.59M | 133.86K | 1.69M | 6.01M | 86.4K | 951.04K |
| Cash Only | 1.59M | 133.86K | 1.69M | 6.01M | 86.4K | 951.04K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 261.83K | 139.83K | 84.66K | 52.84K | 25K | 0 |
| Days Sales Outstanding | 140.41 | 229.89 | 217.97 | 2.13 | 40.72 | - |
| Inventory | 9.63M | 9.65M | 7.46M | 7.38M | 0 | 4.72M |
| Days Inventory Outstanding | 11.75K | 50.35K | 32.69K | 5.77K | - | 624.99 |
| Other Current Assets | 5.65M | 1.69K | 712 | 0 | -25K | 0 |
| Total Non-Current Assets | 12.72M | 12.65M | 6.17M | 6.89M | 323.91M | 11M |
| Property, Plant & Equipment | 70.29K | 91.81K | 327.99K | 7.57M | 0 | 2.89M |
| Fixed Asset Turnover | 3.76x | 2.42x | 0.43x | 1.20x | - | 0.97x |
| Goodwill | 5.11M | 5.1M | 4.78M | 4.8M | 4.58M | 5.12M |
| Intangible Assets | 7.26M | 7.43M | 741.08K | 628.48K | 1.06M | 2.25M |
| Long-Term Investments | 726.24K | 0 | 235.6K | 451.87K | 323.91M | 607.59K |
| Other Non-Current Assets | 34.28K | 34.32K | 85.5K | -6.56M | -5.64M | 132.09K |
| Total Assets | 29.86M | 28.22M | 21.09M | 20.84M | 324.04M | 18.53M |
| Asset Turnover | 0.01x | 0.01x | 0.01x | 0.44x | 0.00x | 0.15x |
| Asset Growth % | 26.54% | 33.79% | 1.23% | -93.57% | 1648.4% | - |
| Total Current Liabilities | 15.1M | 31.82M | 20.14M | 32.19M | 3.88M | 83.62M |
| Accounts Payable | 3.06M | 4.05M | 1.29M | 1.08M | 4.4M | 1.7M |
| Days Payables Outstanding | 4.55K | 21.14K | 5.66K | 842.83 | 5.63K | 224.89 |
| Short-Term Debt | 3.83M | 19.76M | 12.7M | 21.6M | 1M | 69.55M |
| Deferred Revenue (Current) | 4.54M | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 5.91M | 0 | 897.02K | 2.05M | -1.53M | 250K |
| Current Ratio | 1.14x | 0.49x | 0.74x | 0.43x | 0.03x | 0.09x |
| Quick Ratio | 0.50x | 0.19x | 0.37x | 0.20x | 0.03x | 0.03x |
| Cash Conversion Cycle | 7.34K | 29.44K | 27.25K | 4.93K | - | - |
| Total Non-Current Liabilities | 9.74M | 6.15M | 17.98M | 119.42K | 11.55M | 2.56M |
| Long-Term Debt | 4.61M | 0 | 97.32K | 0 | 0 | 1.22M |
| Capital Lease Obligations | 0 | 0 | 0 | 119.42K | 0 | 1.34M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 5.14M | 6.15M | 17.88M | 0 | 11.55M | 0 |
| Total Liabilities | 24.84M | 37.97M | 38.12M | 32.3M | 15.43M | 86.18M |
| Total Debt | 8.44M | 19.76M | 12.92M | 22.16M | 1M | 72.96M |
| Net Debt | 6.85M | 19.63M | 11.23M | 16.15M | 913.6K | 72.01M |
| Debt / Equity | 1.68x | - | - | - | 0.00x | - |
| Debt / EBITDA | -0.49x | - | - | - | - | - |
| Net Debt / EBITDA | -0.40x | - | - | - | - | - |
| Interest Coverage | -9.67x | -2.02x | -25.30x | -1.94x | - | - |
| Total Equity | 5.02M | -9.75M | -17.02M | -11.47M | 308.61M | -67.65M |
| Equity Growth % | 92.13% | 42.72% | -48.46% | -103.72% | 556.2% | - |
| Book Value per Share | 0.10 | -0.21 | -0.47 | -0.32 | 7.73 | -1.70 |
| Total Shareholders' Equity | 5.02M | -9.75M | -17.02M | -11.47M | 308.61M | -67.46M |
| Common Stock | 5.05K | 5.05K | 3.62K | 1.96K | 323.91M | 72 |
| Retained Earnings | -229.16M | -224.49M | -217.83M | -170.28M | -15.3M | -119.48M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -1.2M | -1.25M | 135.39K | -661.35K | 0 | -559.78K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | -183.97K |
Immediate liquidity and solvency
As reported in recent financial statements, Veea's equity position has frequently dipped into negative territory, reaching -$9.8 million in 2025Q4, which underscores a persistent trend of capital erosion driven by cumulative losses that significantly outpace the company's ability to generate sustainable shareholder value over the observed period.
The consistent negative retained earnings, which stood at -$224.5 million in 2025Q4, suggest that the company has been unable to achieve a self-sustaining operational model. This trajectory indicates that the balance sheet is increasingly reliant on external financing to cover ongoing deficits, raising questions about the long-term viability of the current business model.
Based on the provided balance sheet data, Veea's debt levels have fluctuated significantly, peaking at $22.2 million in 2023Q4, which suggests that the company utilizes debt as a primary mechanism to bridge the gap between its high R&D-driven cash burn and its limited revenue generation capabilities.
The reliance on debt in the absence of positive operating cash flow implies that the company faces substantial refinancing risk. Investors should monitor whether future debt obligations can be serviced without further dilutive equity raises, given the current lack of a clear path to operational profitability.
According to recent SEC filings, Veea's cash position has dwindled to a precarious $133,860 as of 2025Q4, representing a severe liquidity constraint that leaves the company with virtually no buffer against operational shocks or unexpected delays in its commercial scaling efforts within the edge computing market.
The current ratio of 0.49 in 2025Q4 highlights a fundamental mismatch between short-term assets and immediate liabilities. This liquidity profile suggests that the company may be forced to seek emergency capital, which could lead to significant dilution for existing shareholders or unfavorable terms from creditors.
As indicated by the financial data, Veea's equity base has been severely impaired by years of accumulated losses, with the company reporting negative equity in multiple quarters, a trend that reflects the high cost of maintaining its complex, multi-protocol software and hardware engineering stack.
The persistent negative equity position suggests that the company's book value is currently insufficient to support its operational scale. This warrants further investigation into the potential for future equity issuances, which may be necessary to restore a positive net asset position but would likely exacerbate shareholder dilution.
Based on reported figures, the presence of $5.1 million in goodwill as of 2026Q1, despite the company's ongoing operational losses and negative equity, suggests a potential risk of future impairment charges that could further erode the balance sheet if the underlying business units fail to meet performance targets.
The valuation of these intangible assets appears disconnected from the company's current commercial performance. Investors should be cautious, as any write-down of these assets would directly impact the already strained equity position and potentially trigger further covenant breaches on existing debt obligations.
Quick answers to the most common questions about buying VEEA stock.
As of 2025, Veea Inc. (VEEA) had total assets of $28.2M including $15.6M in current assets.
Veea Inc. (VEEA) carries total debt of $19.8M, offset by $0.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Veea Inc. (VEEA) has total shareholders' equity (book value) of $-9.8M ($-0.21 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Veea Inc. (VEEA) reported a current ratio of 0.49x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.