Company: VEEV
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001393052-25-000078
Chunk: 146

Company: VEEVA SYSTEMS INC
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 1
Chunk 146
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 three and nine months ended October 31, 2025, respectively, and $4 million and $12 million for the three and nine months ended October 31, 2024, respectively. There have been no impairment losses recorded in relation to the costs capitalized for any period presented.

Note 4. Goodwill and Intangible Assets

Goodwill was $440 million as of both October 31, 2025 and January 31, 2025.The following table presents the details of intangible assets as of October 31, 2025 (in thousands):GrosscarryingamountAccumulatedamortizationNetExisting technology$28,580 $(28,040)$540 Customer relationships113,157 (81,519)31,638 Other intangibles21,405 (20,933)472 Total intangible assets$163,142 $(130,492)$32,650 

10Veeva Systems Inc. | Form 10-Q

Table of Contents

The following table presents the details of intangible assets as of January 31, 2025 (in thousands):GrosscarryingamountAccumulatedamortizationNetExisting technology$28,580 $(24,878)$3,702 Customer relationships113,157 (73,223)39,934 Other intangibles21,405 (20,581)824 Total intangible assets$163,142 $(118,682)$44,460 Amortization expense associated with intangible assets was $4 million and $12 million for the three and nine months ended October 31, 2025, respectively, and $5 million and $14 million for the three and nine months ended October 31, 2024, respectively.As of October 31, 2025, the estimated future amortization expense for intangible assets is as follows (in thousands):Fiscal YearEstimatedamortizationexpenseRemaining for 2026$2,336 20278,922 20287,778 20297,782 20305,832 Total$32,650  

Note 5. Fair Value Measurements

The following table presents the fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis as of October 31, 2025 (in thousands):Level 1Level 2TotalAssetsCash equivalents:Money market funds$505,249 $— $505,249 U.S. Treasury securities—