Company: VEEV
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001393052-25-000067
Chunk: 186

Company: VEEVA SYSTEMS INC
Filing Date: 2025-08-29
Form: 10-Q
Item: Part I, Item 8
Chunk 186
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Table of Contents

Potential common share equivalents excluded because their inclusion would be anti-dilutive are as follows (in thousands):Three months ended July 31,Six months ended July 31,2025202420252024Options and RSUs 7,298 9,076 6,746 7,887 

Note 11. Commitments and Contingencies

LitigationIQVIA Litigation MattersIQVIA and Veeva have been involved in a series of litigations since 2017, including IQVIA Inc. v. Veeva Systems Inc. (No. 2:17-cv-00177) and IQVIA Inc. v. Veeva Systems Inc. (No. 2:19-cv-15517). In these litigations, IQVIA asserted trade secret misappropriation claims and Veeva asserted antitrust claims. Prior to August 13, 2025, these cases were pending in the U.S. District Court for the District of New Jersey.  On August 13, 2025, Veeva and IQVIA entered into a settlement agreement that resolves all ongoing litigations between Veeva and IQVIA. Under the terms of the settlement agreement, neither party will pay damages to the other party and both parties agreed to dismiss with prejudice all claims and counterclaims currently pending.  Accordingly, all claims and counterclaims have now been dismissed.Fee Arrangements Related to the IQVIA Litigation Matters. We entered into partial contingency fee arrangements with certain law firms representing us in the IQVIA litigations, pursuant to which such law firms are entitled to payment from us of a success fee if certain non-monetary outcomes are achieved. Consequent to the settlement of the IQVIA litigations, as of July 31, 2025, we accrued approximately $31 million due to such law firms in accordance with the terms of such arrangements.Other Litigation MattersFrom time to time, we may be involved in other legal proceedings and subject to claims incident to the ordinary course of business. Although the results of such legal proceedings and claims cannot be predicted with certainty, we believe we are not currently a party to any other legal proceedings, the outcome of which, if determined adversely to us, would individually or taken together have a material adverse effect on our business, operating results, cash flows, or financial position. Regardless of the outcome, such proceedings can have an adverse impact on us because