Company: VEEV
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001393052-25-000022
Chunk: 185

Company: VEEVA SYSTEMS INC
Filing Date: 2025-03-24
Form: 10-K
Item: Item 1A
Chunk 185
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 customers and generally require payment within 30 days to 60 days of billing.

The following customer exceeded 10% of total accounts receivable as of the dates shown:January 31,20252024Customer 110.1%10.1%

No single customer represented over 10% of our total revenues for any of the years presented.

Cash EquivalentsWe consider all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.

Veeva Systems Inc. | Form 10-K56

Table of Contents

Short-term InvestmentsOur short-term investments are classified as available-for-sale and recorded at estimated fair value. Unrealized gains and losses for available-for-sale securities are included in accumulated other comprehensive income, a component of stockholders’ equity. We evaluate our investments to assess whether those with unrealized loss positions are other than temporarily impaired. We consider impairments to be other than temporary if they are related to deterioration in credit risk or if it is likely we will sell the securities before the recovery of their amortized cost basis. Realized gains and losses and declines in value judged to be other than temporary are determined based on the specific identification method and are reported in other income, net, in the consolidated statements of comprehensive income. Interest, amortization of premiums, and accretion of discount on all short-term investments are also included as a component of other income, net, in the consolidated statements of comprehensive income.We may sell our short-term investments at any time for use in current operations or for other purposes, even if they have not yet reached maturity. As a result, we classify our investments, including securities with maturities beyond 12 months, as current assets in the accompanying consolidated balance sheets.

Accounts Receivable and Allowance for Credit LossesAccounts receivable are recorded at the invoiced amount, net of allowance for credit losses.

Property and Equipment

Property and equipment is stated at cost less accumulated depreciation. Depreciation is calculated on the straight-line method over the estimated useful lives of the assets and commences once the asset is placed in service or ready for its intended use. Land is not depreciated. The estimated useful lives by asset classification are as follows:

Building30 yearsBuilding improvementsRemaining useful life of the buildingEquipment and computers3 yearsFurniture and fixtures5 yearsLand improvements10 yearsLeasehold improvementsShorter of remaining life of the lease term or estimated useful life

LeasesWe have operating leases for corporate offices. We recognize lease right-of-use assets and liabilities at the