Company: VEEV
Filing Date: 2025-06-02
Form Type: 10-Q
Source: 0001393052-25-000042
Chunk: 179

Company: VEEVA SYSTEMS INC
Filing Date: 2025-06-02
Form: 10-Q
Item: Part I, Item 8
Chunk 179
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 necessarily indicative of the results of operations to be anticipated for the full fiscal year ending January 31, 2026 or any other period.

New Accounting Pronouncements Issued and Not Yet AdoptedImprovements to Income Tax DisclosuresIn December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disaggregation of rate reconciliation categories and income taxes paid by jurisdiction, among other amendments. This new standard is effective for our fiscal year beginning on February 1, 2025 on a prospective basis. Retrospective application is permitted. We are currently evaluating this ASU to determine its impact on our disclosures.Disaggregation of Income Statement ExpensesIn November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosure (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires disclosure, in the notes to the financial statements, of additional information about certain costs and expenses for interim and annual reporting periods. This new standard is effective for our fiscal year beginning on February 1, 2027 and interim periods beginning on February 1, 2028 on a prospective basis. Retrospective application is permitted. We are currently evaluating this ASU to determine its impact on our disclosures.

8Veeva Systems Inc. | Form 10-Q

Table of Contents

Note 2. Short-Term Investments

As of April 30, 2025, short-term investments consisted of the following (in thousands):AmortizedcostGrossunrealizedgainsGrossunrealizedlossesEstimatedfairvalueAvailable-for-sale securities:Certificates of deposit$20,115 $— $(12)$20,103 Asset-backed securities465,405 3,342 (163)468,584 Commercial paper41,024 20 — 41,044 Corporate notes and bonds2,375,952 20,077 (1,507)2,394,522 Foreign government bonds219,878 1,819 (138)221,559 Municipal securities62,678 271 (13)62,936 U.S. agency obligations24,742 92 (1)24,833 U.S. treasury securities864,608 5,462 (216)869,854 Total available-for-sale securities$4,074,