Company: VEEV
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001393052-25-000067
Chunk: 268

Company: VEEVA SYSTEMS INC
Filing Date: 2025-08-29
Form: 10-Q
Item: Part I, Item 2
Chunk 268
---
$195,908 $166,487 $429,640 $321,659 Stock-based compensation expense121,966 108,376 234,176 204,287 Amortization of purchased intangibles4,075 4,892 8,016 9,678 Litigation settlement-related charges30,627 — 30,627 5,000 Operating income on a non-GAAP basis$352,576 $279,755 $702,459 $540,624 Net income on a GAAP basis$200,309 $171,041 $428,499 $332,705 Stock-based compensation expense121,966 108,376 234,176 204,287 Amortization of purchased intangibles4,075 4,892 8,016 9,678 Litigation settlement-related charges30,627 — 30,627 5,000 Income tax effect on non-GAAP adjustments (1)(23,572)(17,030)(40,085)(37,438)Net income on a non-GAAP basis$333,406 $267,279 $661,234 $514,232 Diluted net income per share on a GAAP basis$1.19 $1.04 $2.56 $2.02 Stock-based compensation expense0.73 0.66 1.40 1.24 Amortization of purchased intangibles0.02 0.03 0.05 0.06 Litigation settlement-related charges0.18 — 0.18 0.03 Income tax effect on non-GAAP adjustments (1)(0.13)(0.11)(0.24)(0.22)Diluted net income per share on a non-GAAP basis$1.99 $1.62 $3.95 $3.13 (1) For the three and six months ended July 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

Six months ended July 31,20252024(in thousands)Net cash provided by operating activities$1,115,591 $856,390 Net cash used in investing activities(441,