Company: VEEV
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001393052-25-000078
Chunk: 170

Company: VEEVA SYSTEMS INC
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 1
Chunk 170
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71 0.71 2.11 1.95 Amortization of purchased intangibles0.02 0.03 0.07 0.09 Litigation settlement-related charges— — 0.18 0.03 Income tax effect on non-GAAP adjustments (1)(0.09)(0.12)(0.33)(0.35)Diluted net income per share on a non-GAAP basis$2.04 $1.75 $5.99 $4.87 (1) For the three and nine months ended October 31, 2025 and 2024, we used an estimated annual effective non-GAAP tax rate of 21%.

Veeva Systems Inc. | Form 10-Q27

Table of Contents

Liquidity and Capital Resources

Nine months ended October 31,20252024(in thousands)Net cash provided by operating activities$1,308,378 $1,020,507 Net cash used in investing activities(936,612)(684,446)Net cash provided by financing activities168,715 5,304 Effect of exchange rate changes on cash and cash equivalents871 (1,346)Net change in cash and cash equivalents$541,352 $340,019 

Our principal sources of liquidity continue to be comprised of our existing cash, cash equivalents, and short-term investments. As of October 31, 2025, our cash, cash equivalents, and short-term investments totaled $6.6 billion, of which $74 million represented cash and cash equivalents held outside of the United States.

Our primary use of cash is payment of our operating costs, which consist primarily of employee-related expenses, such as compensation and benefits, investments in our information technology infrastructure, and general operating expenses for marketing, facilities, and overhead costs. Long-term cash requirements for items other than normal operating expenses could include the following: the acquisition of businesses, or technologies complementary to our business, and capital expenditures.

Our non-U.S. cash and cash equivalents are not considered indefinitely reinvested outside the United States, except in certain designated jurisdictions. As of October 31, 2025, we have not recorded any taxes, such as withholding taxes, associated with the foreign earnings that are indefinitely reinvested outside of the United States. Under currently enacted tax laws, if we were to choose to repatriate the funds we have designated as indefinitely reinvested outside the United States