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VEEVA SYSTEMS INC

For the period ended Apr 30, 2024. Filed Jun 4, 2024.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Apr 30, 2024 · Filed Jun 4, 2024

VEEV$306.40+0.9%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Table of Contents

FORM 10-Q

TABLE OF CONTENTS

PART I. FINANCIAL INFORMATION4
Item 1.Financial Statements4
Condensed Consolidated Balance Sheets4
Condensed Consolidated Statements of Comprehensive Income5
Condensed Consolidated Statements of Stockholders’ Equity6
Condensed Consolidated Statements of Cash Flows7
Notes to Condensed Consolidated Financial Statements8
Note 1. Summary of Business and Significant Accounting Policies8
Note 2. Short-Term Investments9
Note 3. Deferred Costs10
Note 4. Property and Equipment, Net10
Note 5. Goodwill and Intangible Assets11
Note 6. Accrued Expenses12
Note 7. Fair Value Measurements12
Note 8. Income Taxes14
Note 9. Deferred Revenue, Performance Obligations, and Unbilled Accounts Receivable14
Note 10. Leases14
Note 11. Stockholders’ Equity15
Note 12. Net Income per Share16
Note 13. Commitments and Contingencies17
Note 14. Revenues by Product19
Note 15. Information about Geographic Areas19
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations21
Overview21
Components of Results of Operations21
Results of Operations24
Operating Expenses and Operating Margin26
Non-GAAP Financial Measures27
Liquidity and Capital Resources29
Critical Accounting Policies and Estimates31
Item 3.Quantitative and Qualitative Disclosures About Market Risk32
Item 4.Controls and Procedures33
PART II. OTHER INFORMATION34
Item 1.Legal Proceedings34
Item 1ARisk Factors35
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds58
Item 3.Defaults Upon Senior Securities58
Item 4.Mine Safety Disclosures58
Item 5.Other Information58
Item 6.Exhibits59
SIGNATURES61
2Veeva Systems Inc. | Form 10-Q

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This report on Form 10-Q contains forward-looking statements that are based on our beliefs and assumptions and on information currently available to us. Forward-looking statements include information concerning our possible or assumed future results of operations and expenses, business strategies and plans, trends, market sizing, competitive position, industry environment, potential growth opportunities, and product capabilities among other things. Forward-looking statements include all statements that are not historical facts and, in some cases, can be identified by terms such as “aim,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “goal,” “intends,” “may,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “strive,” “will,” “would,” or similar expressions and the negatives of those terms.

Forward-looking statements are based on our current views and expectations and involve known and unknown risks, uncertainties and other factors—including those described in “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and elsewhere in this report—that may cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements.

Any forward-looking statements in this report are made only as of the date of this report. Except as required by law, we disclaim any obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

As used in this report, the terms “Veeva,” “Registrant,” “the Company,” “we,” “us,” and “our” mean Veeva Systems Inc. and its subsidiaries unless the context indicates otherwise.

Veeva Systems Inc. | Form 10-Q3
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.