Company: VEEV
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001393052-25-000067
Chunk: 144

Company: VEEVA SYSTEMS INC
Filing Date: 2025-08-29
Form: 10-Q
Item: Part I, Item 1
Chunk 144
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,013 (2,245)— — Total$1,409,084 $(4,842)$47,745 $(95)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 $26 million as of both July 31, 2025 and January 31, 2025. Amortization expense for the deferred costs included in sales and marketing expenses in the condensed consolidated statements of comprehensive income was $4 million and $8 million for the three and six months ended July 31, 2025, respectively, and $4 million and $8 million for the three and six months ended July 31, 2024, respectively. There have been no impairment losses recorded in relation to the costs capitalized for any period presented.

Note 4. Goodwill and Intangible Assets

Goodwill was $440 million as of both July 31, 2025 and January 31, 2025.The following 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 

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