Company: VEEV
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001393052-25-000078
Chunk: 140

Company: VEEVA SYSTEMS INC
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 1
Chunk 140
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)— — (71,989)(286,476)— (59,399)— — (59,399)Stock-based compensation expense— — 357,219 — — 357,219 — — 328,183 — — 328,183 Other comprehensive income— — — — 18,330 18,330 — — — — 4,178 4,178 Net income— — — 664,702 — 664,702 — — — 518,513 — 518,513 Balances at end of period164,342,871 $2 $2,911,418 $4,119,297 $9,914 $7,040,631 162,158,468 $2 $2,248,890 $3,258,970 $(6,459)$5,501,403 

See Notes to Condensed Consolidated Financial Statements.

6Veeva Systems Inc. | Form 10-Q

Table of Contents

VEEVA SYSTEMS INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

Nine months ended October 31,20252024Cash flows from operating activitiesNet income$664,702 $518,513 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization29,654 29,451 Reduction of lease right-of-use assets9,405 8,348 Accretion of discount on short-term investments(6,613)(20,442)Stock-based compensation354,444 322,146 Amortization of deferred costs12,173 11,507 Deferred income taxes50,185 (91,231)Other, net(562)(465)Changes in operating assets and liabilities:Accounts receivable701,016 595,940 Unbilled accounts receivable(16,788)(9,107)Deferred costs(11,094)(10,106)Prepaid expenses and other current and long-term assets(6,810)1,354 Accounts payable3,190 424 Accrued expenses and other current liabilities(3,260)(10,240)Income tax payable(3,004)(1,059)Deferred revenue(466,118)(321,090)Lease liabilities