Revenue remains highly erratic with quarterly figures as low as $14.3K, while gross margins have swung violently from a negative 26.2% in 2026Q1 to a peak of 93.7% in 2025Q2.
| Sales/Revenue | 388.19K | 222.02K | 141.76K | 9.07M | 224.05K | 2.8M |
| Revenue Growth % | 178.77% | 56.62% | -98.44% | 3949.12% | -92% | - |
| Cost of Goods Sold | 297.08K | 69.98K | 83.29K | 466.8K | 285.31K | 2.76M |
| COGS % of Revenue | - | 31.52% | 58.75% | 5.15% | 127.34% | 98.47% |
| Gross Profit | 91.12K | 152.04K | 58.47K | 8.61M | -61.26K | 42.83K |
| Gross Margin % | 23.47% | 68.48% | 41.25% | 94.85% | -27.34% | 1.53% |
| Gross Profit Growth % | - | 160.03% | -99.32% | 14147.45% | -243.03% | - |
| Operating Expenses | 18.23M | 17.76M | 27.85M | 18.97M | 25.57M | 33.35M |
| OpEx % of Revenue | - | 7999.27% | 19643.22% | 209.05% | 11410.94% | 1191.05% |
| Selling, General & Admin | 17.27M | 18M | 27.45M | 17.45M | 20.46M | 21.82M |
| SG&A % of Revenue | - | 8108.11% | 19363.96% | 192.39% | 9131.93% | 779.34% |
| Research & Development | 371.75K | 328.42K | 1.37M | 693.45K | 3.23M | 5.68M |
| R&D % of Revenue | - | 147.93% | 968.79% | 7.64% | 1440.19% | 202.77% |
| Other Operating Expenses | 587.01K | -570.08K | -977.47K | 818.2K | 1.88M | 5.85M |
| Operating Income | -18.14M | -17.61M | -27.79M | -10.36M | -25.63M | -33.31M |
| Operating Margin % | -4671.94% | -7930.79% | -19601.98% | -114.19% | -11438.28% | -1189.52% |
| Operating Income Growth % | - | 36.63% | -168.23% | 59.58% | 23.06% | - |
| EBITDA | -17.33M | -16.86M | -27.09M | -8.75M | -23.75M | -30.7M |
| EBITDA Margin % | -4464.11% | -7593.05% | -19106.9% | -96.43% | -10599.46% | -1096.24% |
| EBITDA Growth % | 36.83% | 37.76% | -209.61% | 63.16% | 22.64% | - |
| D&A (Non-Cash Add-back) | 806.76K | 749.84K | 701.82K | 1.61M | 1.88M | 2.61M |
| EBIT | -18.82M | -4.46M | -45.74M | -10.32M | -25.68M | -30.56M |
| Net Interest Income | -2.07M | -2.2M | -1.81M | -5.32M | 4.68M | 16.26K |
| Interest Income | 0 | 0 | 0 | 1.94K | 4.68M | 16.26K |
| Interest Expense | 2.07M | 2.2M | 1.81M | 5.32M | - | - |
| Other Income/Expense | 2.5M | 10.95M | -19.76M | -5.28M | -9.57M | -1.95M |
| Pretax Income | -15.63M | -6.66M | -47.55M | -15.64M | -35.2M | -35.26M |
| Pretax Margin % | -4026.89% | -2999.77% | -33541.03% | -172.38% | -15710.66% | -1259.11% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -15.63M | -6.66M | -47.55M | -15.64M | -35.17M | -35.07M |
| Net Margin % | -4026.89% | -2999.77% | -33541.03% | -172.38% | -15695.95% | -1252.27% |
| Net Income Growth % | 58.01% | 85.99% | -204.04% | 55.53% | -0.28% | - |
| Net Income (Continuing) | -15.63M | -6.66M | -47.55M | -15.64M | -35.2M | -35.26M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | -183.97K |
| EPS (Diluted) | -0.31 | -0.15 | -1.32 | -0.44 | 0.27 | 0.17 |
| EPS Growth % | 64.99% | 88.64% | -200% | -262.96% | 58.82% | - |
| EPS (Basic) | - | -0.15 | -1.32 | -0.44 | 0.27 | 0.17 |
| Diluted Shares Outstanding | 50.47M | 45.67M | 35.91M | 35.62M | 39.9M | 39.9M |
| Basic Shares Outstanding | 50.47M | 45.84M | 35.91M | 35.62M | 39.9M | 39.9M |
| Dividend Payout Ratio | - | - | - | - | - | - |
Critical Liquidity and Solvency
As reported in recent financial filings, Veea's quarterly revenue remains highly erratic, fluctuating between $14.3K and $180.4K, which suggests that the company is currently operating in a pre-commercial pilot phase rather than achieving a consistent or predictable growth trajectory in its edge computing services.
The extreme quarter-over-quarter revenue swings indicate a business model heavily dependent on individual, non-recurring project wins. Investors should monitor whether the company can transition from these sporadic deployments to a repeatable, high-volume revenue stream, as current figures do not yet demonstrate a sustainable path to commercial scale.
Based on the provided income statement data, Veea's gross margins have exhibited extreme instability, ranging from a negative 26.2% in 2026Q1 to a peak of 93.7% in 2025Q2, highlighting the lack of a standardized cost-of-goods-sold structure for its hardware and software offerings.
This erratic margin profile suggests that the company's pricing power is currently non-existent or that its cost accounting is distorted by the small, project-based nature of its current revenue. Until the company achieves a consistent product mix, these margin fluctuations will likely continue to obscure the underlying profitability of its edge-computing platform.
According to the company's historical income statements, Veea maintains a massive operating expense structure that consistently dwarfs its revenue, with SG&A costs frequently exceeding $4 million per quarter, indicating a complete lack of operating leverage at the current stage of the business lifecycle.
The company's fixed-cost base appears calibrated for a scale of operations that has not yet materialized, resulting in persistent and deep operating losses. Without a significant increase in revenue throughput, the current overhead structure will continue to exert unsustainable pressure on the company's limited financial resources.
Based on the reported figures, Veea's cash position of $133,860 against multi-million dollar quarterly operating losses suggests a critical liquidity risk that may necessitate immediate dilutive financing or raise significant concerns regarding the company's ability to continue as a going concern in the near term.
Short-sellers would likely focus on the extreme mismatch between the company's high burn rate and its negligible revenue base. The reliance on external capital to fund ongoing R&D and administrative costs creates a precarious situation where any delay in funding could lead to a total cessation of operations.
Quick answers to the most common questions about buying VEEAW stock.
For fiscal year 2025, Veea Inc. (VEEAW) reported total revenue of $0.2M. This represents a 92.1% decline compared to $2.8M in 2021.
Veea Inc. (VEEAW) reported a net loss of $6.7M for the fiscal year ending 2025.
Veea Inc. (VEEAW) reported an operating income of $-17.6M, resulting in an operating profit margin of -7930.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Veea Inc. (VEEAW) generated $0.2M in gross profit for the year, representing a gross profit margin of 68.5%. This demonstrates the company's core pricing power and production efficiency.