VEEVA SYSTEMS INC

For the period ended Oct 31, 2025. Filed Nov 21, 2025.

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.

Oct 31, 2025 · Filed Nov 21, 2025

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

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Contents

Condensed Consolidated Statements of Comprehensive Income

(In thousands, except per share data)

	Three months ended October 31,		Nine months ended October 31,
	2025	2024	2025	2024
Revenues:
Subscription services	$682,498	$580,850	$1,976,449	$1,676,082
Professional services and other	128,738	118,357	382,911	349,651
Total revenues	811,236	699,207	2,359,360	2,025,733
Cost of revenues (1):
Cost of subscription services	94,171	82,638	266,347	239,577
Cost of professional services and other	105,294	91,751	302,195	279,068
Total cost of revenues	199,465	174,389	568,542	518,645
Gross profit	611,771	524,818	1,790,818	1,507,088
Operating expenses (1):
Research and development	191,883	172,411	568,593	511,551
Sales and marketing	110,552	98,695	318,619	297,524
General and administrative	68,483	72,359	233,113	195,001
Total operating expenses	370,918	343,465	1,120,325	1,004,076
Operating income	240,853	181,353	670,493	503,012
Other income, net	71,933	60,937	206,478	171,239
Income before income taxes	312,786	242,290	876,971	674,251
Income tax provision	76,583	56,482	212,269	155,738
Net income	$236,203	$185,808	$664,702	$518,513
Net income per share:
Basic	$1.44	$1.15	$4.06	$3.21
Diluted	$1.40	$1.13	$3.96	$3.15
Weighted-average shares used to compute net income per share:
Basic	164,049	161,987	163,676	161,707
Diluted	168,935	164,979	167,953	164,838
Other comprehensive income:
Net change in unrealized gain (loss) on available-for-sale investments	$12,283	$(738)	$18,350	$5,576
Net change in cumulative foreign currency translation loss	(372)	(146)	(20)	(1,398)
Comprehensive income	$248,114	$184,924	$683,032	$522,691

(1) Includes stock-based compensation as follows:
Cost of revenues:
Cost of subscription services	$1,842	$1,696	$5,498	$4,892
Cost of professional services and other	14,789	12,929	42,362	38,640
Research and development	52,791	48,014	154,128	138,741
Sales and marketing	24,509	21,214	72,222	67,928
General and administrative	26,337	34,006	80,234	71,945
Total stock-based compensation	$120,268	$117,859	$354,444	$322,146

Veeva Systems Inc. \| Form 10-Q	5

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.