Company: VEEV
Filing Date: 2025-06-02
Form Type: 10-Q
Source: 0001393052-25-000042
Chunk: 158

Company: VEEVA SYSTEMS INC
Filing Date: 2025-06-02
Form: 10-Q
Item: Part I, Item 1
Chunk 158
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495 Cost of professional services and other revenues82,575 83,067 Operating expenses - adjusted:Research and development136,084 120,940 Sales and marketing73,512 70,789 General and administrative41,370 39,186 Operating income - adjusted349,883 260,868 Other segment items (1)116,151 105,696 Other income, net65,089 51,729 Income tax provision70,631 45,237 Consolidated net income$228,190 $161,664 (1) Other segment items included in consolidated net income consist primarily of stock-based compensation expense and amortization of purchased intangibles.Cost of revenues - adjusted, and operating expenses - adjusted, are segment expenses that are regularly provided to the CEO and do not include stock-based compensation, amortization of purchased intangibles, and litigation settlement expenses, as we exclude them from our internal management reporting processes. We find it useful to exclude these expenses when we assess the appropriate level of various operating expenses and resource allocations when budgeting, planning, and forecasting future periods.

Note 13. Information about Geographic Areas and Products

Information about Geographic AreasWe track and allocate revenues by principal geographic area rather than by individual country, which makes it impractical to disclose revenues for the United States or other specific foreign countries. We measure subscription services revenue primarily by the estimated location of the end users in each geographic area for our Commercial Solutions and primarily by the estimated location of usage in each geographic area for our R&D Solutions. We measure professional services revenue primarily by the location of the resources performing the professional services.Total revenues by geographic area were as follows for the periods shown below (in thousands):Three months ended April 30,20252024Revenues by geographyNorth America$459,467 $381,599 Europe217,103 189,915 Asia Pacific65,370 62,440 Middle East, Africa, and Latin America17,103 16,391 Total revenues$759,043 $650,345 

Veeva Systems Inc. | Form 10-Q17

Table of Contents

Long-lived assets by geographic area are as follows as of the periods shown below (in thousands):April 30, 2025January 31, 2025Long-lived assets by geographyNorth America$47,604 $47,144 Europe7,122 6,778 Asia Pacific3,201 1,295