Company: VEEV
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001393052-25-000067
Chunk: 136

Company: VEEVA SYSTEMS INC
Filing Date: 2025-08-29
Form: 10-Q
Item: Part I, Item 1
Chunk 136
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 $7,339,756 

See Notes to Condensed Consolidated Financial Statements.

4Veeva Systems Inc. | Form 10-Q

Table of Contents

VEEVA SYSTEMS INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands, except per share data)

(Unaudited)

Three months ended July 31,Six months ended July 31,2025202420252024Revenues:Subscription services$659,183 $561,277 $1,293,951 $1,095,232 Professional services and other129,898 114,904 254,173 231,294 Total revenues789,081 676,181 1,548,124 1,326,526 Cost of revenues (1):Cost of subscription services93,830 78,791 172,176 156,939 Cost of professional services and other101,423 91,581 196,901 187,317 Total cost of revenues195,253 170,372 369,077 344,256 Gross profit593,828 505,809 1,179,047 982,270 Operating expenses (1):Research and development192,677 176,429 376,710 339,140 Sales and marketing109,439 101,528 208,067 198,829 General and administrative95,804 61,365 164,630 122,642 Total operating expenses397,920 339,322 749,407 660,611 Operating income195,908 166,487 429,640 321,659 Other income, net69,456 58,573 134,545 110,302 Income before income taxes265,364 225,060 564,185 431,961 Income tax provision65,055 54,019 135,686 99,256 Net income$200,309 $171,041 $428,499 $332,705 Net income per share:Basic$1.23 $1.06 $2.63 $2.06 Diluted$1.19 $1.04 $2.56 $2.02 Weighted-average shares used to compute net income per share:Basic163,496 161,708 163,129 161,566 Dil