Company: VEEV
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001393052-25-000067
Chunk: 142

Company: VEEVA SYSTEMS INC
Filing Date: 2025-08-29
Form: 10-Q
Item: Part I, Item 1
Chunk 142
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 new standard is effective for our fiscal year beginning on February 1, 2025 on a prospective basis. Retrospective application is permitted. The adoption of ASU 2023-09 will modify our disclosures but will not have an impact on our financial position or results of operations.Disaggregation of Income Statement ExpensesIn November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosure (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires disclosure, in the notes to the financial statements, of additional information about certain costs and expenses for interim and annual reporting periods. This new standard is effective for our fiscal year beginning on February 1, 2027 and interim periods beginning on February 1, 2028 on a prospective basis. Retrospective application is permitted. We are currently evaluating this ASU to determine its impact on our disclosures.

8Veeva Systems Inc. | Form 10-Q

Table of Contents

Note 2. Short-Term Investments

As of July 31, 2025, short-term investments consisted of the following (in thousands):AmortizedcostGrossunrealizedgainsGrossunrealizedlossesEstimatedfairvalueAvailable-for-sale securities:Certificates of deposit$20,116 $— $(13)$20,103 Asset-backed securities399,409 2,191 (99)401,501 Commercial paper23,848 — (13)23,835 Corporate notes and bonds2,663,431 13,771 (1,989)2,675,213 Foreign government bonds213,628 935 (546)214,017 Municipal securities61,646 124 (31)61,739 U.S. agency obligations13,372 41 — 13,413 U.S. treasury securities1,063,948 1,759 (2,246)1,063,461 Total available-for-sale securities$4,459,398 $18,821 $(4,937)$4,473,282 As of January 31, 2025, short-term investments consisted of the following (in thousands):AmortizedcostGrossunrealizedgainsGrossunrealizedlossesEstimatedfairvalueAvailable-for-sale securities:Certificates of deposit$64,045 $69 $(21)$64,093