Company: VEEV
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001393052-25-000022
Chunk: 70

Company: VEEVA SYSTEMS INC
Filing Date: 2025-03-24
Form: 10-K
Item: Item 1A
Chunk 70
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355,548 1,257,048 1,086,564 Operating income691,435 429,334 459,091 Other income, net227,946 158,689 50,005 Income before income taxes919,381 588,023 509,096 Income tax provision205,243 62,318 21,390 Net income$714,138 $525,705 $487,706 Net income per share:Basic$4.41 $3.27 $3.14 Diluted$4.32 $3.22 $3.00 Weighted-average shares used to compute net income per share:Basic161,879 160,532 155,385 Diluted165,232 163,486 162,437 Other comprehensive income:Net change in unrealized gain (loss) on available-for-sale investments$4,094 $22,038 $(14,854)Net change in cumulative foreign currency translation loss(1,873)(1,546)(4,317)Comprehensive income$716,359 $546,197 $468,535 

(1) Includes stock-based compensation as follows:Cost of revenues:Cost of subscription services$6,591 $6,483 $6,257 Cost of professional services and other51,377 53,237 50,341 Research and development185,901 172,876 141,571 Sales and marketing90,178 90,865 87,509 General and administrative103,303 70,272 66,229 Total stock-based compensation$437,350 $393,733 $351,907 

See Notes to Consolidated Financial Statements.

Veeva Systems Inc. | Form 10-K52

Table of Contents

VEEVA SYSTEMS INC.

 CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(In thousands, except share data)

Class A & Bcommon stock (1)Additionalpaid-incapitalRetainedearningsAccumulatedothercomprehensivelossTotalstockholders’equitySharesAmountBalance at January 31, 2022154,196,597 $2 $1,196,547 $1,727,046 $(11,958)$2,911,637 Issuance of common stock upon exercise of stock options3,421,303 —