Company: VEEV
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001393052-25-000078
Chunk: 205

Company: VEEVA SYSTEMS INC
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 8
Chunk 205
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 Litigation settlement-related charges— — 30,627 5,000 Income tax effect on non-GAAP adjustments (1)(15,155)(20,160)(55,240)(57,598)Net income on a non-GAAP basis$345,110 $288,319 $1,006,343 $802,551 Diluted net income per share on a GAAP basis$1.40 $1.13 $3.96 $3.15 Stock-based compensation expense0.71 0.71 2.11 1.95 Amortization of purchased intangibles0.02 0.03 0.07 0.09 Litigation settlement-related charges— — 0.18 0.03 Income tax effect on non-GAAP adjustments (1)(0.09)(0.12)(0.33)(0.35)Diluted net income per share on a non-GAAP basis$2.04 $1.75 $5.99 $4.87 (1) For the three and nine months ended October 31, 2025 and 2024, we used an estimated annual effective non-GAAP tax rate of 21%.

Veeva Systems Inc. | Form 10-Q27

Table of Contents

Liquidity and Capital Resources

Nine months ended October 31,20252024(in thousands)Net cash provided by operating activities$1,308,378 $1,020,507 Net cash used in investing activities(936,612)(684,446)Net cash provided by financing activities168,715 5,304 Effect of exchange rate changes on cash and cash equivalents871 (1,346)Net change in cash and cash equivalents$541,352 $340,019 

Our principal sources of liquidity continue to be comprised of our existing cash, cash equivalents, and short-term investments. As of October 31, 2025, our cash, cash equivalents, and short-term investments totaled $6.6 billion, of which $74 million represented cash and cash equivalents held outside of the United States.

Our primary use of cash is payment of our operating costs, which consist primarily of employee-related expenses, such as compensation and benefits, investments in our information technology infrastructure, and general operating expenses for marketing, facilities, and overhead costs. Long-term cash requirements for items other than normal operating expenses could include the