Company: VEEV
Filing Date: 2025-06-02
Form Type: 10-Q
Source: 0001393052-25-000042
Chunk: 145

Company: VEEVA SYSTEMS INC
Filing Date: 2025-06-02
Form: 10-Q
Item: Part I, Item 1
Chunk 145
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664 — 161,664 Balances at end of period161,624,611 $2 $2,017,904 $2,902,121 $(30,646)$4,889,381 

See Notes to Condensed Consolidated Financial Statements.

6Veeva Systems Inc. | Form 10-Q

Table of Contents

VEEVA SYSTEMS INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

Three months ended April 30,20252024Cash flows from operating activitiesNet income$228,190 $161,664 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization9,822 8,499 Reduction of lease right-of-use assets3,265 2,783 Accretion of discount on short-term investments(2,509)(6,187)Stock-based compensation112,210 95,911 Amortization of deferred costs4,043 3,803 Deferred income taxes(27,418)(26,539)Other, net4,327 930 Changes in operating assets and liabilities:Accounts receivable522,686 490,004 Unbilled accounts receivable(7,672)(2,406)Deferred costs(4,055)(3,854)Prepaid expenses and other current and long-term assets(4,501)8,160 Accounts payable7,743 280 Accrued expenses and other current liabilities(8,720)2,597 Income tax payable82,345 59,705 Deferred revenue(41,361)(31,292)Lease liabilities(2,543)(1,643)Other long-term liabilities1,306 1,101 Net cash provided by operating activities877,158 763,516 Cash flows from investing activitiesPurchases of short-term investments(667,100)(777,831)Maturities and sales of short-term investments620,903 513,929 Long-term assets(5,910)(8,476)Net cash used in investing activities(52,107)(272,378)Cash flows from financing activitiesProceeds from exercise of common stock options40,605 28,434 Taxes paid related to net share settlement of equity awards(20,225)(24,606)Net cash provided by financing activities20,380 3,828 Effect of exchange rate changes