Company: VEEV
Filing Date: 2025-06-02
Form Type: 10-Q
Source: 0001393052-25-000042
Chunk: 150

Company: VEEVA SYSTEMS INC
Filing Date: 2025-06-02
Form: 10-Q
Item: Part I, Item 1
Chunk 150
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3,072)173,071 (172)Total$1,207,334 $(9,840)$289,191 $(586)

Note 3. Deferred Costs

Deferred costs, which consist of deferred sales commissions, were $26 million as of both April 30, 2025 and January 31, 2025. Amortization expense for the deferred costs included in sales and marketing expenses in the condensed consolidated statements of comprehensive income was $4 million for both the three months ended April 30, 2025 and 2024. There have been no impairment losses recorded in relation to the costs capitalized for any period presented. 

Note 4. Goodwill and Intangible Assets

Goodwill was $440 million as of both April 30, 2025 and January 31, 2025.The following table presents the details of intangible assets as of April 30, 2025 (in thousands):GrosscarryingamountAccumulatedamortizationNetExisting technology$28,580 $(25,909)$2,671 Customer relationships113,157 (76,019)37,138 Other intangibles21,405 (20,695)710 Total intangible assets$163,142 $(122,623)$40,519 

10Veeva Systems Inc. | Form 10-Q

Table of Contents

The following table presents the details of intangible assets as of January 31, 2025 (in thousands):GrosscarryingamountAccumulatedamortizationNetExisting technology$28,580 $(24,878)$3,702 Customer relationships113,157 (73,223)39,934 Other intangibles21,405 (20,581)824 Total intangible assets$163,142 $(118,682)$44,460 Amortization expense associated with intangible assets was $4 million and $5 million for the three months ended April 30, 2025 and 2024, respectively.As of April 30, 2025, the estimated future amortization expense for intangible assets is as follows (in thousands):Fiscal YearEstimatedamortizationexpenseRemaining for 2026$10,205 20278,922 20287,778 20297,782 20305,832 Total$40,519  

Note 5. Fair Value Measurements

The following table presents the fair value hierarchy for financial assets and