Company: VEEV
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001393052-25-000022
Chunk: 335

Company: VEEVA SYSTEMS INC
Filing Date: 2025-03-24
Form: 10-K
Item: Item 3
Chunk 335
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 nature.Financial assets and liabilities recorded at fair value in the consolidated financial statements are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels, which are directly related to the amount of subjectivity associated with the inputs to the valuation of these assets or liabilities, are as follows:Level 1—Observable inputs, such as quoted prices in active markets for identical assets or liabilities.Level 2—Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.Financial assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires management to make judgments and considers factors specific to the asset or liability.

64Veeva Systems Inc. | Form 10-K

Table of Contents

The following table presents the fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis as of January 31, 2025 (in thousands):Level 1Level 2TotalAssetsCash equivalents:Money market funds$314,872 $— $314,872 U.S. Treasury securities— 3,301 3,301 Short-term investments:Certificates of deposit— 64,093 64,093 Asset-backed securities— 530,011 530,011 Commercial paper— 74,575 74,575 Corporate notes and bonds— 2,206,956 2,206,956 Foreign government bonds— 176,103 176,103 Municipal securities— 67,831 67,831 U.S. agency obligations— 24,709 24,709 U.S. Treasury securities— 887,164 887,164 Foreign currency derivative contracts— 96 96 Total financial assets$314,872 $4,034,839 $4,349,711 LiabilitiesForeign currency derivative contracts$— $(525)$(525)Total financial liabilities$— $(525)$(525)The following table presents the fair value hierarchy for financial assets and