Company: VEEV
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001393052-25-000022
Chunk: 350

Company: VEEVA SYSTEMS INC
Filing Date: 2025-03-24
Form: 10-K
Item: Item 3
Chunk 350
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 the periods shown below (in thousands):January 31,20252024Long-lived assets by geographyNorth America$47,144 $49,725 Europe6,778 6,885 Asia Pacific1,295 751 Middle East, Africa, and Latin America695 1,171 Total long-lived assets$55,912 $58,532 

Veeva Systems Inc. | Form 10-K75

Table of Contents

Revenues by ProductWe group our revenues into two product areas: Commercial Solutions and R&D Solutions. Commercial Solutions revenues consist of revenues from our Veeva Commercial Cloud and Veeva Data Cloud solutions. R&D Solutions revenues consist of revenues from our Veeva Development Cloud, Veeva Quality Cloud, Veeva RegulatoryOne, and Veeva QualityOne solutions. Total revenues consist of the following (in thousands):Fiscal year ended January 31,202520242023Subscription servicesCommercial Solutions$1,104,888 $995,803 $946,252 R&D Solutions1,179,771 905,790 786,750 Total subscription services2,284,659 1,901,593 1,733,002 Professional servicesCommercial Solutions185,302 185,981 177,188 R&D Solutions276,658 276,099 244,870 Total professional services461,960 462,080 422,058 Total revenues$2,746,619 $2,363,673 $2,155,060 

Note 17. 401(k) Plan

We have a qualified defined contribution plan under Section 401(k) of the Internal Revenue Code covering eligible employees, as well as a Registered Retirement Savings Plan (RRSP) for eligible employees in Canada. Prior to January 1, 2025, we matched up to $2,000 per employee per year under the 401(k) plan. Beginning January 1, 2025, under the updated plan, we match up to $4,000 per employee per year. Under the RRSP plan, we also match up to $2,000 per employee per year. For the fiscal years ended January 31, 2025, 2024, and 2023, total expense related to these plans was $10 million, $9 million, and $8 million, respectively.

ITEM 9.     CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS