VEEVA SYSTEMS INC
For the period ended Jul 31, 2024. Filed Sep 4, 2024.
View on SEC.govAbout 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.
Jul 31, 2024 · Filed Sep 4, 2024
VEEV$305.55-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Comprehensive Income
(In thousands, except per share data)
| Three months ended July 31, | Six months ended July 31, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues: | ||||
| Subscription services | $561,277 | $470,637 | $1,095,232 | $885,183 |
| Professional services and other | 114,904 | 119,588 | 231,294 | 231,367 |
| Total revenues | 676,181 | 590,225 | 1,326,526 | 1,116,550 |
| Cost of revenues(1): | ||||
| Cost of subscription services | 78,791 | 71,169 | 156,939 | 138,744 |
| Cost of professional services and other | 91,581 | 97,849 | 187,317 | 196,937 |
| Total cost of revenues | 170,372 | 169,018 | 344,256 | 335,681 |
| Gross profit | 505,809 | 421,207 | 982,270 | 780,869 |
| Operating expenses(1): | ||||
| Research and development | 176,429 | 157,228 | 339,140 | 304,188 |
| Sales and marketing | 101,528 | 96,995 | 198,829 | 185,498 |
| General and administrative | 61,365 | 62,935 | 122,642 | 125,604 |
| Total operating expenses | 339,322 | 317,158 | 660,611 | 615,290 |
| Operating income | 166,487 | 104,049 | 321,659 | 165,579 |
| Other income, net | 58,573 | 38,826 | 110,302 | 69,074 |
| Income before income taxes | 225,060 | 142,875 | 431,961 | 234,653 |
| Income tax provision (benefit) | 54,019 | 31,247 | 99,256 | (8,496) |
| Net income | $171,041 | $111,628 | $332,705 | $243,149 |
| Net income per share: | ||||
| Basic | $1.06 | $0.70 | $2.06 | $1.52 |
| Diluted | $1.04 | $0.68 | $2.02 | $1.49 |
| Weighted-average shares used to compute net income per share: | ||||
| Basic | 161,708 | 160,396 | 161,566 | 160,129 |
| Diluted | 164,564 | 163,284 | 164,497 | 162,989 |
| Other comprehensive income: | ||||
| Net change in unrealized gain (loss) on available-for-sale investments | $25,175 | $(8,891) | $6,314 | $(3,463) |
| Net change in cumulative foreign currency translation (loss) gain | (104) | 267 | (1,252) | 209 |
| Comprehensive income | $196,112 | $103,004 | $337,767 | $239,895 |
| (1) Includes stock-based compensation as follows: | ||||
|---|---|---|---|---|
| Cost of revenues: | ||||
| Cost of subscription services | $1,642 | $1,748 | $3,196 | $3,253 |
| Cost of professional services and other | 13,176 | 14,216 | 25,711 | 26,938 |
| Research and development | 48,984 | 45,292 | 90,727 | 84,198 |
| Sales and marketing | 23,671 | 23,489 | 46,714 | 43,624 |
| General and administrative | 20,903 | 18,150 | 37,939 | 35,601 |
| Total stock-based compensation | $108,376 | $102,895 | $204,287 | $193,614 |
| Veeva Systems Inc. | Form 10-Q | 5 |
|---|
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.