Company: VEEV
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001393052-25-000067
Chunk: 179

Company: VEEVA SYSTEMS INC
Filing Date: 2025-08-29
Form: 10-Q
Item: Part I, Item 8
Chunk 179
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$— Asset-backed securities21,127 (17)20,833 (83)Commercial paper23,835 (13)— — Corporate notes and bonds571,900 (1,977)26,912 (12)Foreign government bonds85,833 (547)— — Municipal securities19,374 (31)— — U.S. agency obligations1,899 — — — U.S. treasury securities665,013 (2,245)— — Total$1,409,084 $(4,842)$47,745 $(95)The following table shows the fair values of available-for-sale securities which were in an unrealized loss position, aggregated by investment category, as of January 31, 2025 (in thousands):12 months or lessGreater than 12 monthsFairvalueGrossunrealizedlossesFair ValueGross unrealized lossesCertificates of deposit$20,095 $(21)$— $— Asset-backed securities25,220 (31)44,789 (201)Commercial paper4,944 (1)— — Corporate notes and bonds616,379 (5,569)71,331 (213)Foreign government bonds76,856 (1,023)— — Municipal securities22,593 (122)— — U.S. agency obligations1,865 (1)— — U.S. treasury securities439,382 (3,072)173,071 (172)Total$1,207,334 $(9,840)$289,191 $(586)

Note 3. Deferred Costs

Deferred costs, which consist of deferred sales commissions, were $26 million as of both July 31, 2025 and January 31, 2025. Amortization expense for the deferred costs included in sales and marketing expenses in the condensed consolidated statements of comprehensive income was $4 million and $8 million for the three and six months ended July 31, 2025, respectively, and $4 million and $8 million for the three and six months ended July 31, 2024, respectively. There have been no impairment losses recorded in relation to the costs capitalized for any period presented.

Note 4. Goodwill and Intangible Assets

Goodwill was $440 million as of both July 31, 2025 and January 31, 2025.The following