Company: VEEV
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001393052-25-000067
Chunk: 264

Company: VEEVA SYSTEMS INC
Filing Date: 2025-08-29
Form: 10-Q
Item: Part I, Item 2
Chunk 264
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31,Six months ended July 31,20252024% Change20252024% Change(dollars in thousands)Sales and marketing$109,439 $101,528 8%$208,067 $198,829 5%Percentage of total revenues14 %15 %13 %15 %

Sales and marketing expenses for the three months ended July 31, 2025 increased $8 million, primarily due to an increase of $7 million in employee compensation-related costs, which was driven by increases in salaries and 

24Veeva Systems Inc. | Form 10-Q

Table of Contents

benefits, as well as headcount. The expansion of our headcount was to support our sales and marketing efforts associated with our product offerings.

Sales and marketing expenses for the six months ended July 31, 2025 increased $9 million, primarily due to an increase of $9 million in employee compensation-related costs, which was driven by increases in salaries and benefits, as well as headcount. The expansion of our headcount was to support our sales and marketing efforts associated with our product offerings.

We expect sales and marketing expenses to increase in the future, primarily due to employee compensation-related costs and the increase in marketing program costs related to events.

General and Administrative

Three months ended July 31,Six months ended July 31,20252024% Change20252024% Change(dollars in thousands)General and administrative$95,804 $61,365 56%$164,630 $122,642 34%Percentage of total revenues12 %9 %11 %9 %

General and administrative expenses for the three months ended July 31, 2025 increased $34 million, primarily due to an increase of $31 million in litigation settlement-related charges.

General and administrative expenses for the six months ended July 31, 2025 increased $42 million, primarily due to  an increase of $31 million in litigation settlement-related charges and $17 million in employee compensation-related costs, offset by a $5 million litigation settlement charge that occurred in the six months ended July 31, 2024. The increase in employee compensation-related costs was primarily driven by stock-based compensation related to the equity grant to our Chief Executive Officer in the quarter ended July 31, 2024.

Other Income, Net

Three months ended July 31,Six months ended July 31,202520