Company: VEEV
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001393052-25-000067
Chunk: 148

Company: VEEVA SYSTEMS INC
Filing Date: 2025-08-29
Form: 10-Q
Item: Part I, Item 1
Chunk 148
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 contractually able to invoice until a future period.

Note 8. Leases

We have operating leases for our corporate offices with various expiration dates, some of which include options to extend the leases for up to five years. For the three months ended July 31, 2025 and 2024, our operating lease expense was $4 million and $3 million, respectively. For the six months ended July 31, 2025 and 2024, our operating lease expense was $8 million and $7 million, respectively.Supplemental cash flow information related to leases was as follows (in thousands):Six months ended July 31,20252024Cash paid for lease liabilities$6,992 $5,885 Lease right-of-use assets obtained in exchange for new lease liabilities$14,015 $2,509 Supplemental balance sheet information related to operating leases was as follows:July 31, 2025January 31, 2025Weighted average remaining lease term7.6 years7.7 yearsWeighted average discount rate4.7 %4.6 %

Veeva Systems Inc. | Form 10-Q13

Table of Contents

As of July 31, 2025, remaining maturities of lease liabilities are as follows (in thousands):Fiscal YearRemaining for 2026$2,094 202715,350 202817,224 202913,391 203012,259 Thereafter44,304 Total lease payments104,622 Less imputed interest(19,174)Total lease liabilities$85,448 

Note 9. Stockholders’ Equity 

Common StockAs of July 31, 2025, we had 163,877,694 shares of common stock outstanding.

Stock Option Activity

 A summary of stock option activity for the six months ended July 31, 2025 is as follows: 

Numberof sharesWeightedaverageexercisepriceWeightedaverageremainingcontractualterm (in years)Aggregateintrinsicvalue (in millions)Options outstanding at January 31, 202514,633,921 $177.65 6.8$860 Options granted2,176,814 $215.01 Options exercised(984,525)$185.17 Options forfeited/cancelled(187,369)$210.75 Options outstanding at July 31, 202515,638,841 $