Company: VEEV
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001393052-25-000067
Chunk: 185

Company: VEEVA SYSTEMS INC
Filing Date: 2025-08-29
Form: 10-Q
Item: Part I, Item 8
Chunk 185
---
 July 31, 2025 is as follows:Unreleased restrictedstock unitsWeighted average grantdate fair valueBalance at January 31, 2025880,026 $206.25 RSUs granted1,016,695 $215.98 RSUs vested(493,507)$208.21 RSUs forfeited/cancelled(31,447)$214.68 Balance at July 31, 20251,371,767 $212.57 As of July 31, 2025, there was a total of $180 million in unrecognized compensation cost related to unvested RSUs. This cost is expected to be recognized over a weighted-average period of approximately 0.9 years. The total grant date fair value of RSUs vested for the three and six months ended July 31, 2025 was $71 million and $126 million, respectively.

Note 10. Net Income per Share 

Basic net income per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period.Diluted net income per share is computed by dividing net income by the weighted-average shares outstanding, including potentially dilutive shares of common equivalents outstanding during the period. The dilutive effect of potential shares of common stock are determined using the treasury stock method.The following table presents the calculation of basic and diluted net income per share (in thousands, except per share data):Three months ended July 31,Six months ended July 31,2025202420252024Numerator:Net income$200,309 $171,041 $428,499 $332,705 Denominator:Basic shares:Weighted average common shares outstanding, basic163,496 161,708 163,129 161,566 Diluted shares:Weighted average common shares outstanding, basic163,496 161,708 163,129 161,566 Effect of potentially dilutive common shares4,189 2,856 4,143 2,931 Weighted average common shares outstanding, diluted167,685 164,564 167,272 164,497 Net income per share:Basic$1.23 $1.06 $2.63 $2.06 Diluted$1.19 $1.04 $2.56 $2.02 

Veeva Systems Inc. | Form 10-Q15