Company: VEEV
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001393052-25-000078
Chunk: 145

Company: VEEVA SYSTEMS INC
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 1
Chunk 145
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 or a recovery of the cost basis.

Veeva Systems Inc. | Form 10-Q9

Table of Contents

The following table shows the fair values of available-for-sale securities which were in an unrealized loss position, aggregated by investment category, as of October 31, 2025 (in thousands):12 months or lessGreater than 12 monthsFairvalueGrossunrealizedlossesFairvalueGrossunrealizedlossesCertificates of deposit$19,978 $(22)$— $— Asset-backed securities211 — 2,082 (56)Commercial paper131,187 (53)— — Corporate notes and bonds411,651 (938)4,998 (1)Foreign government bonds54,398 (97)8,035 (21)Municipal securities5,829 (1)3,000 — U.S. treasury securities256,296 (311)27,773 (12)Total$879,550 $(1,422)$45,888 $(90)The following table shows the fair values of available-for-sale securities which were in an unrealized loss position, aggregated by investment category, as of January 31, 2025 (in thousands):12 months or lessGreater than 12 monthsFairvalueGrossunrealizedlossesFair ValueGross unrealized lossesCertificates of deposit$20,095 $(21)$— $— Asset-backed securities25,220 (31)44,789 (201)Commercial paper4,944 (1)— — Corporate notes and bonds616,379 (5,569)71,331 (213)Foreign government bonds76,856 (1,023)— — Municipal securities22,593 (122)— — U.S. agency obligations1,865 (1)— — U.S. treasury securities439,382 (3,072)173,071 (172)Total$1,207,334 $(9,840)$289,191 $(586)

Note 3. Deferred Costs

Deferred costs, which consist of deferred sales commissions, were $25 million and $26 million as of October 31, 2025 and January 31, 2025, respectively. Amortization expense for deferred costs included in sales and marketing expenses in the condensed consolidated statements of comprehensive income was $4 million and $12 million for the