Company: VEEV
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001393052-25-000078
Chunk: 149

Company: VEEVA SYSTEMS INC
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 1
Chunk 149
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 three and nine months ended October 31, 2024, respectively.Transaction Price Allocated to the Remaining Performance ObligationsAs of October 31, 2025 and January 31, 2025, the amount of the transaction price allocated to remaining performance obligations for noncancellable subscription services contracts greater than one year was not significant with the substantial majority of such allocated transaction price included in deferred revenue and expected to be recognized over the next 12 months.Unbilled Accounts ReceivableAs of October 31, 2025, unbilled accounts receivable consisted of (i) receivables of $45 million primarily for revenue recognized for professional services performed but not yet billed and (ii) contract assets of $13 million primarily related to professional services performed but for which we are not contractually able to invoice until a future period.As of January 31, 2025, unbilled accounts receivable consisted of (i) receivables of $33 million primarily for revenue recognized for professional services performed but not yet billed and (ii) contract assets of $8 million primarily related to professional services performed but for which we are not 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 October 31, 2025 and 2024, our operating lease expense was $4 million and $3 million, respectively. For the nine months ended October 31, 2025 and 2024, our operating lease expense was $13 million and $10 million, respectively.Supplemental cash flow information related to leases was as follows (in thousands):Nine months ended October 31,20252024Cash paid for lease liabilities$9,597 $8,984 Lease right-of-use assets obtained in exchange for new lease liabilities$19,242 $21,480 Supplemental balance sheet information related to operating leases was as follows:October 31, 2025January 31, 2025Weighted average remaining lease term7.9 years7.7 yearsWeighted average discount rate4.7 %4.6 %

Veeva Systems Inc. | Form 10-Q13

Table of Contents

As of October 31, 2025, remaining maturities of lease liabilities are as follows (in thousands):Fiscal YearRemaining for 2026$