Company: VEEV
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001393052-25-000067
Chunk: 139

Company: VEEVA SYSTEMS INC
Filing Date: 2025-08-29
Form: 10-Q
Item: Part I, Item 1
Chunk 139
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(46,783)— — (46,783)(199,957)— (41,588)— — (41,588)Stock-based compensation expense— — 235,734 — — 235,734 — — 208,861 — — 208,861 Other comprehensive income— — — — 6,419 6,419 — — — — 5,062 5,062 Net income— — — 428,499 — 428,499 — — — 332,705 — 332,705 Balances at end of period163,877,694 $2 $2,757,440 $3,883,094 $(1,997)$6,638,539 161,830,287 $2 $2,117,109 $3,073,162 $(5,575)$5,184,698 

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)

Six months ended July 31,20252024Cash flows from operating activitiesNet income$428,499 $332,705 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization19,948 19,519 Reduction of lease right-of-use assets6,316 5,508 Accretion of discount on short-term investments(4,535)(14,254)Stock-based compensation234,176 204,287 Amortization of deferred costs8,205 7,651 Deferred income taxes31,699 (59,801)Other, net(1,414)127 Changes in operating assets and liabilities:Accounts receivable593,032 487,219 Unbilled accounts receivable(9,587)(3,067)Deferred costs(7,721)(7,174)Prepaid expenses and other current and long-term assets(21,232)4,344 Accounts payable3,361 (3,343)Accrued expenses and other current liabilities23,763 (5,517)Income tax payable(5,362)(6,246)Deferred revenue(180,888