Company: VEEV
Filing Date: 2025-06-02
Form Type: 10-Q
Source: 0001393052-25-000042
Chunk: 181

Company: VEEVA SYSTEMS INC
Filing Date: 2025-06-02
Form: 10-Q
Item: Part I, Item 8
Chunk 181
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121)Corporate notes and bonds347,452 (1,423)51,120 (84)Foreign government bonds64,353 (138)— — Municipal securities9,949 (13)— — U.S. agency obligations1,881 (1)— — U.S. treasury securities210,522 (171)32,946 (45)Total$667,713 $(1,800)$122,608 $(250)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 April 30, 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 for both the three months ended April 30, 2025 and 2024. 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 April 30, 2025 and January 31, 2025.The following table presents the details of intangible assets as of April 30, 2025 (in thousands):GrosscarryingamountAccumulatedamortizationNetExisting technology$28,580 $(25,909)$2,671 Customer relationships113,157 (76