VEEVA SYSTEMS INC

For the period ended Jan 31, 2025. Filed Mar 24, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 24, 2025

VEEV$305.55-0.3%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Comprehensive Income

(In thousands, except per share data)

	Fiscal year ended January 31,
	2025	2024	2023
Revenues:
Subscription services	$2,284,659	$1,901,593	$1,733,002
Professional services and other	461,960	462,080	422,058
Total revenues	2,746,619	2,363,673	2,155,060
Cost of revenues (1):
Cost of subscription services	323,070	290,577	257,635
Cost of professional services and other	376,566	386,714	351,770
Total cost of revenues	699,636	677,291	609,405
Gross profit	2,046,983	1,686,382	1,545,655
Operating expenses (1):
Research and development	693,078	629,031	520,278
Sales and marketing	396,726	381,472	348,691
General and administrative	265,744	246,545	217,595
Total operating expenses	1,355,548	1,257,048	1,086,564
Operating income	691,435	429,334	459,091
Other income, net	227,946	158,689	50,005
Income before income taxes	919,381	588,023	509,096
Income tax provision	205,243	62,318	21,390
Net income	$714,138	$525,705	$487,706
Net income per share:
Basic	$4.41	$3.27	$3.14
Diluted	$4.32	$3.22	$3.00
Weighted-average shares used to compute net income per share:
Basic	161,879	160,532	155,385
Diluted	165,232	163,486	162,437
Other comprehensive income:
Net change in unrealized gain (loss) on available-for-sale investments	$4,094	$22,038	$(14,854)
Net change in cumulative foreign currency translation loss	(1,873)	(1,546)	(4,317)
Comprehensive income	$716,359	$546,197	$468,535

(1) Includes stock-based compensation as follows:
Cost of revenues:
Cost of subscription services	$6,591	$6,483	$6,257
Cost of professional services and other	51,377	53,237	50,341
Research and development	185,901	172,876	141,571
Sales and marketing	90,178	90,865	87,509
General and administrative	103,303	70,272	66,229
Total stock-based compensation	$437,350	$393,733	$351,907

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.