Company: VEEV
Filing Date: 2025-06-02
Form Type: 10-Q
Source: 0001393052-25-000042
Chunk: 155

Company: VEEVA SYSTEMS INC
Filing Date: 2025-06-02
Form: 10-Q
Item: Part I, Item 1
Chunk 155
---
 31, 2025880,026 $206.25 RSUs granted983,736 $214.17 RSUs vested(237,956)$207.49 RSUs forfeited/cancelled(10,144)$214.02 Balance at April 30, 20251,615,662 $210.84 

14Veeva Systems Inc. | Form 10-Q

Table of Contents

As of April 30, 2025, there was a total of $236 million in unrecognized compensation cost related to unvested RSUs. This cost is expected to be recognized over a weighted-average period of approximately 1.1 years. The total grant date fair value of RSUs vested for the three months ended April 30, 2025 was $54 million.

Note 10. Net Income per Share 

Basic net income per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period.Diluted net income per share is computed by dividing net income by the weighted-average shares outstanding, including potentially dilutive shares of common equivalents outstanding during the period. The dilutive effect of potential shares of common stock are determined using the treasury stock method.The following table presents the calculation of basic and diluted net income per share (in thousands, except per share data):Three months ended April 30,20252024BasicNumeratorNet income, basic$228,190 $161,664 DenominatorWeighted average shares used in computing net income per share, basic162,749 161,421 Net income per share, basic$1.40 $1.00 DilutedNumeratorNet income, diluted$228,190 $161,664 DenominatorNumber of shares used for basic net income per share computation162,749 161,421 Effect of potentially dilutive common shares3,480 2,973 Weighted average shares used in computing net income per share, diluted166,229 164,394 Net income per share, diluted$1.37 $0.98 Potential common share equivalents excluded where the inclusion would be anti-dilutive are as follows (in thousands):Three months ended April 30,20252024Options and RSUs 7,078 2,973 

Note 11. Commitments and Contingencies

LitigationIQVIA Litigation MattersIQVIA and Veeva have been involved