VEEVA SYSTEMS INCVEEV

VEEVA SYSTEMS INC Leases Disclosure

10-KFiled Mar 20, 20261 min read
Leases
We have operating leases for our global offices with various expiration dates, some of which include options to extend the leases for up to five years.
For the fiscal years ended January 31, 2026, 2025, and 2024, our operating lease expense was $17 million, $14 million, and $16 million, respectively.
Supplemental cash flow information related to leases was as follows (in thousands):
Fiscal year ended January 31,
20262025
Cash paid for lease liabilities
$9,545 $12,522 
Lease right-of-use assets obtained in exchange for new lease liabilities
$24,023 $30,866 
Supplemental balance sheet information related to operating leases was as follows:
January 31,
20262025
Weighted average remaining lease term
7.8 years7.7 years
Weighted average discount rate
4.8 %4.6 %
As of January 31, 2026, remaining maturities of lease liabilities are as follows (in thousands):
Fiscal Year
2027$14,851 
202818,538 
202914,984 
203014,053 
203111,293 
Thereafter42,549 
Total lease payments
116,268 
Less imputed interest(20,409)
Total lease liabilities
$95,859 

Historical Timeline

Fiscal YearFiled
2026Mar 20, 2026Showing above
2025Mar 24, 2025
2024Mar 25, 2024
2023Mar 30, 2023
2022Mar 30, 2022
2021Mar 30, 2021
2020Mar 30, 2020

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

Other Available Disclosures

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