Company: VEEV
Filing Date: 2025-06-02
Form Type: 10-Q
Source: 0001393052-25-000042
Chunk: 182

Company: VEEVA SYSTEMS INC
Filing Date: 2025-06-02
Form: 10-Q
Item: Part I, Item 8
Chunk 182
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,019)37,138 Other intangibles21,405 (20,695)710 Total intangible assets$163,142 $(122,623)$40,519 

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 $5 million for the three months ended April 30, 2025 and 2024, respectively.As of April 30, 2025, the estimated future amortization expense for intangible assets is as follows (in thousands):Fiscal YearEstimatedamortizationexpenseRemaining for 2026$10,205 20278,922 20287,778 20297,782 20305,832 Total$40,519  

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 April 30, 2025 (in thousands):Level 1Level 2TotalAssetsCash equivalents:Money market funds$1,156,503 $— $1,156,503 U.S. Treasury securities— 9,323 9,323 Short-term investments:Certificates of deposit— 20,103 20,103 Asset-backed securities— 468,584 468,584 Commercial paper— 41,044 41,044 Corporate notes and bonds— 2,394,522 2,394,522 Foreign government bonds— 221,559 221,559 Municipal securities— 62,936 62,936 U.S. agency obligations— 24,833 24,833 U.S. Treasury securities— 869,854 869,854 Foreign currency derivative contracts— 10 10 Total financial assets$1,156,503 $4,112,768 $5,269,271 LiabilitiesForeign currency derivative contracts$—