Company: VEEV
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001393052-25-000067
Chunk: 180

Company: VEEVA SYSTEMS INC
Filing Date: 2025-08-29
Form: 10-Q
Item: Part I, Item 8
Chunk 180
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 table presents the details of intangible assets as of July 31, 2025 (in thousands):GrosscarryingamountAccumulatedamortizationNetExisting technology$28,580 $(26,973)$1,607 Customer relationships113,157 (78,908)34,249 Other intangibles21,405 (20,816)589 Total intangible assets$163,142 $(126,697)$36,445 

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 $8 million for the three and six months ended July 31, 2025, respectively, and $5 million and $10 million for the three and six months ended July 31, 2024, respectively.As of July 31, 2025, the estimated future amortization expense for intangible assets is as follows (in thousands):Fiscal YearEstimatedamortizationexpenseRemaining for 2026$6,131 20278,922 20287,778 20297,782 20305,832 Total$36,445  

Note 5. Fair Value Measurements

The following table presents the fair value hierarchy for financial assets measured at fair value on a recurring basis as of July 31, 2025 (in thousands):Level 1Level 2TotalAssetsCash equivalents:Money market funds$897,086 $— $897,086 U.S. Treasury securities— 6,147 6,147 Short-term investments:Certificates of deposit— 20,103 20,103 Asset-backed securities— 401,501 401,501 Commercial paper— 23,835 23,835 Corporate notes and bonds— 2,675,213 2,675,213 Foreign government bonds— 214,017 214,017 Municipal securities— 61,739 61,739