Company: VEEV
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001393052-25-000022
Chunk: 322

Company: VEEVA SYSTEMS INC
Filing Date: 2025-03-24
Form: 10-K
Item: Item 3
Chunk 322
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 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization39,383 32,628 29,122 Reduction of operating lease right-of-use assets11,547 11,691 12,198 Accretion of discount on short-term investments(24,443)(26,515)(3,624)Stock-based compensation437,350 393,733 351,907 Amortization of deferred costs15,528 18,177 22,096 Deferred income taxes(112,273)(105,374)(127,502)Other, net1,201 471 1,227 Changes in operating assets and liabilities:Accounts receivable(164,572)(149,810)(72,177)Unbilled accounts receivable(4,396)45,809 (18,908)Deferred costs(17,995)(10,268)(20,815)Prepaid expenses and other current and long-term assets(17,453)414 (47,399)Accounts payable(1,961)(10,230)21,429 Accrued expenses and other current liabilities(1,414)(4,249)9,276 Income tax payable(2,838)6,916 (2,815)Deferred revenue227,838 188,164 140,472 Lease liabilities(9,835)(6,879)(10,644)Other long-term liabilities246 956 8,921 Net cash provided by operating activities1,090,051 911,339 780,470 Cash flows from investing activitiesPurchases of short-term investments(2,581,968)(2,697,968)(1,996,878)Maturities and sales of short-term investments1,902,349 1,647,813 1,002,707 Long-term assets(20,519)(26,196)(13,512)Net cash used in investing activities(700,138)(1,076,351)(1,007,683)Cash flows from financing activitiesProceeds from exercise of common stock options105,538 62,687 43,654 Taxes paid related to net share settlement of equity awards(79,423)(78,875)(63,030)Net cash provided by (used in) financing activities26,115 (16,188)(19,376)Effect of exchange rate changes on cash, cash equivalents,