Company: VEEV
Filing Date: 2025-06-02
Form Type: 10-Q
Source: 0001393052-25-000042
Chunk: 187

Company: VEEVA SYSTEMS INC
Filing Date: 2025-06-02
Form: 10-Q
Item: Part I, Item 8
Chunk 187
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 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 in litigation since 2017. On January 10, 2017, IQVIA Inc. and IMS Software Services, Ltd. (collectively, IQVIA) filed a claim in the U.S. District Court for the District of New Jersey alleging that, among other things, we misappropriated trade secrets related to proprietary IQVIA data in violation of federal and state law and seeking declaratory and injunctive relief and unspecified monetary damages (IQVIA Inc. v. Veeva Systems Inc. (No. 2:17-cv-00177)). On July 17, 2019, IQVIA also filed in the U.S. District Court for the District of New Jersey an action seeking declaratory judgement that IQVIA is not liable to Veeva for disallowing use of IQVIA data in Veeva software products (IQVIA Inc. v. Veeva Systems Inc. (No. 2:19-cv-15517)). We filed counterclaims in the first case as well as a complaint against IQVIA in the U.S.