VEEVA SYSTEMS INC

Listed Company

VEEVCIK 0001393052NYSELarge AcceleratedServices-Prepackaged SoftwareDelawareFY ends Jan 31

Period

FY 2026

Revenue

$3.20B

Net Income

$908.91M

Total Assets

$8.98B

Equity

$7.21B

Shares Out

163.33M

Op. Cash Flow

$1.42B

Business

Veeva Systems Inc. provides industry cloud solutions for the global life sciences industry, supporting research and development through commercialization. It offers cloud software, data products, professional services, and business consulting to streamline clinical development, regulatory and safety processes, quality and manufacturing, and commercial engagement. Veeva organizes its offerings into Veeva Development Cloud, Veeva Quality Cloud, Veeva Commercial Cloud, and Veeva Data Cloud product categories, plus professional services and Veeva Business Consulting teams. It sells primarily through a direct sales force, global systems integrator partners, and cloud-based distribution to customers worldwide.

Summary from filing dated 2025-03-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2026 2026-01-31	FY 2025 2025-01-31	FY 2024 2024-01-31	FY 2023 2023-01-31	FY 2022 2022-01-31
Total revenues	3,195	2,747	2,364	2,155	1,851
Total cost of revenues	782	700	677	609	504
Gross profit	2,413	2,047	1,686	1,546	1,347
Research and development	767	693	629	520	382
Sales and marketing	429	397	381	349	288
General and administrative	301	266	247	218	172
Total operating expenses	1,497	1,356	1,257	1,087	842
Operating income	916	691	429	459	505
Other income, net	278	228	159	50	7
Income before income taxes	1,195	919	588	509	512
Income tax provision	286	205	62	21	85
Net income	909	714	526	488	427
Basic (in usd per share)	5.55	4.41	3.27	3.14	2.79
Diluted (in usd per share)	5.44	4.32	3.22	3	2.63
Basic (in shares)	164	162	161	155	153
Diluted (in shares)	167	165	163	162	162
Net change in unrealized gain on available-for-sale investments	17	4	22	−15	−10
Net change in cumulative foreign currency translation loss	−786,000	−2	−2	−4	−3
Comprehensive income	925	716	546	469	414

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2026 2026-01-31	FY 2025 2025-01-31	FY 2024 2024-01-31	FY 2023 2023-01-31	FY 2022 2022-01-31
Cash and cash equivalents	1,421	1,119	703	886	1,138
Short-term investments	5,140	4,031	3,324	2,216	1,238
Accounts receivable, net of allowance for credit losses of $256 and $57, respectively	1,260	1,016	852	703	631
Unbilled accounts receivable	51	41	36	82	63
Prepaid expenses and other current assets	126	101	87	81	37
Total current assets	7,998	6,309	5,003	3,969	3,107
Property and equipment, net	70	56	59	50	54
Deferred costs, net	30	26	24	32	33
Lease right-of-use assets	76	64	46	55	50
Goodwill	440	440	440	440	440
Intangible assets, net	30	44	63	82	102
Deferred income taxes	273	344	233	137	5
Other long-term assets	62	57	43	39	25
Total assets	8,979	7,340	5,911	4,804	3,816
Accounts payable	38	30	32	42	20
Accrued compensation and benefits	46	39	43	44	34
Accrued expenses and other current liabilities	46	36	33	35	36
Income tax payable	7	9	12	5	8
Deferred revenue	1,489	1,274	1,050	869	732
Lease liabilities	12	10	9	11	11
Total current liabilities	1,637	1,398	1,179	1,007	841
Deferred income taxes	558,000	587,000	2	1	2
Long-term lease liabilities	84	66	46	50	44
Other long-term liabilities	43	43	39	30	18
Total liabilities	1,765	1,507	1,266	1,088	905
Commitments and contingencies (note 13)	—	—	—	—	—
Common stock	2,000	2,000	2,000	—	—
Additional paid-in capital	2,843	2,386	1,915	1,533	1,197
Accumulated other comprehensive income (loss)	8	−8	−11	−31	−12
Retained earnings	4,364	3,455	2,740	2,215	1,727
Total stockholders equity	7,215	5,832	4,645	3,716	2,912
Total liabilities and stockholders equity	8,979	7,340	5,911	4,804	3,816

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2026 2026-01-31	FY 2025 2025-01-31	FY 2024 2024-01-31	FY 2023 2023-01-31	FY 2022 2022-01-31
Depreciation and amortization	38	39	33	29	27
Reduction of lease right-of-use assets	12	12	12	12	11
Accretion of discount on short-term investments	−10	−24	−27	−4	6
Stock-based compensation	473	437	394	352	235
Amortization of deferred costs	16	16	18	22	26
Deferred income taxes	65	−112	−105	−128	11
Other, net	3	1	471,000	1	—
Accounts receivable	−245	−165	−150	−72	−67
Unbilled accounts receivable	−10	−4	46	−19	−16
Deferred costs	−20	−18	−10	−21	−17
Prepaid expenses and other current and long-term assets	−34	−17	414,000	−47	−3
Accounts payable	6	−2	−10	21	−3
Accrued expenses and other current liabilities	3	−1	−4	9	9
Income tax payable	−2	−3	7	−3	5
Deferred revenue	213	228	188	140	116
Lease liabilities	−6	−10	−7	−11	−12
Other long-term liabilities	2	246,000	956,000	9	7
Net cash provided by operating activities	1,415	1,090	911	780	764
Purchases of short-term investments	−3,133	−2,582	−2,698	−1,997	−1,117
Maturities and sales of short-term investments	2,058	1,902	1,648	1,003	793
Long-term assets	−29	−21	−26	−14	−14
Net cash used in investing activities	−1,104	−700	−1,076	−1,008	−346
Proceeds from exercise of common stock options	254	106	63	44	52
Repurchases of common stock	−170	0	0	—	—
Taxes paid related to net share settlement of equity awards	−93	−79	−79	−63	−55
Net cash (used in) provided by financing activities	−9	26	−16	−19	−4
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	919,000	−2	−2	−5	−5
Net change in cash, cash equivalents, and restricted cash	302	414	−183	−252	410
Cash paid for income taxes, net of refunds	230	322	134	168	59
Excess tax benefits from employee stock plans	25	9	71	82	56

Filings

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