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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 on September 13, 2024, and changed our name to Veea Inc.
The business is unprofitable at the operating level (-8483.70% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 56.6% YoY with margins expanding 50826.1pp.
Negative free cash flow of -$15M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$388K
▲ +56.6% YoY
Net Income (TTM)
-$16M
▲ +86.0% YoY
Op. Margin
-4662.38%
▲ +50826.1pp YoY
ROIC
-466.61%
▲ +153.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$17M
▲ +40.6% YoY
Op. Cash Flow (TTM)
-$17M
▲ +40.5% YoY
Net Debt
$3M
Cash & Equiv.
$2M
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