Company: VEEV
Filing Date: 2025-06-02
Form Type: 10-Q
Source: 0001393052-25-000042
Chunk: 143

Company: VEEVA SYSTEMS INC
Filing Date: 2025-06-02
Form: 10-Q
Item: Part I, Item 1
Chunk 143
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765,077 $7,339,756 

See Notes to Condensed Consolidated Financial Statements.

4Veeva Systems Inc. | Form 10-Q

Table of Contents

VEEVA SYSTEMS INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands, except per share data)

(Unaudited)

Three months ended April 30,20252024Revenues:Subscription services$634,768 $533,955 Professional services and other124,275 116,390 Total revenues759,043 650,345 Cost of revenues (1):Cost of subscription services78,346 78,148 Cost of professional services and other95,478 95,736 Total cost of revenues173,824 173,884 Gross profit585,219 476,461 Operating expenses (1):Research and development184,033 162,711 Sales and marketing98,628 97,301 General and administrative68,826 61,277 Total operating expenses351,487 321,289 Operating income233,732 155,172 Other income, net65,089 51,729 Income before income taxes298,821 206,901 Income tax provision70,631 45,237 Net income$228,190 $161,664 Net income per share:Basic$1.40 $1.00 Diluted$1.37 $0.98 Weighted-average shares used to compute net income per share:Basic162,749 161,421 Diluted166,229 164,394 Other comprehensive income:Net change in unrealized gain (loss) on available-for-sale investments$17,367 $(18,861)Net change in cumulative foreign currency translation loss(38)(1,148)Comprehensive income$245,519 $141,655 

(1) Includes stock-based compensation as follows:Cost of revenues:Cost of subscription services$1,715 $1,554 Cost of professional services and other12,769 12,535 Research and development47,949 41,743 Sales and marketing22,321 23,043 General and administrative27,456 17,036 Total stock-based compensation$112,210 $95,911 

See Notes to Condensed Consolidated Financial Statements.

Veeva Systems Inc. | Form 10-Q