VEEVA SYSTEMS INC
For the period ended Oct 31, 2024. Filed Dec 9, 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.
Oct 31, 2024 · Filed Dec 9, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
FORM 10-Q
TABLE OF CONTENTS
| PART I. FINANCIAL INFORMATION | 4 | |
|---|---|---|
| Item 1. | Financial Statements | 4 |
| Condensed Consolidated Balance Sheets | 4 | |
| Condensed Consolidated Statements of Comprehensive Income | 5 | |
| Condensed Consolidated Statements of Stockholders’ Equity | 6 | |
| Condensed Consolidated Statements of Cash Flows | 7 | |
| Notes to Condensed Consolidated Financial Statements | 8 | |
| Note 1. Summary of Business and Significant Accounting Policies | 8 | |
| Note 2. Short-Term Investments | 9 | |
| Note 3. Deferred Costs | 10 | |
| Note 4. Property and Equipment, Net | 10 | |
| Note 5. Goodwill and Intangible Assets | 11 | |
| Note 6. Accrued Expenses | 12 | |
| Note 7. Fair Value Measurements | 12 | |
| Note 8. Income Taxes | 14 | |
| Note 9. Deferred Revenue, Performance Obligations, and Unbilled Accounts Receivable | 14 | |
| Note 10. Leases | 14 | |
| Note 11. Stockholders’ Equity | 15 | |
| Note 12. Net Income per Share | 17 | |
| Note 13. Commitments and Contingencies | 18 | |
| Note 14. Revenues by Product | 19 | |
| Note 15. Information about Geographic Areas | 19 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 21 |
| Overview | 21 | |
| Components of Results of Operations | 21 | |
| Results of Operations | 24 | |
| Operating Expenses and Operating Margin | 26 | |
| Non-GAAP Financial Measures | 28 | |
| Liquidity and Capital Resources | 30 | |
| Critical Accounting Policies and Estimates | 32 | |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 33 |
| Item 4. | Controls and Procedures | 34 |
| PART II. OTHER INFORMATION | 35 | |
| Item 1. | Legal Proceedings | 35 |
| Item 1A | Risk Factors | 36 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 59 |
| Item 3. | Defaults Upon Senior Securities | 59 |
| Item 4. | Mine Safety Disclosures | 59 |
| Item 5. | Other Information | 59 |
| Item 6. | Exhibits | 60 |
| SIGNATURES | 62 |
| 2 | Veeva 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-Q | 3 |
|---|
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.