2024 Q1 Form 10-K Financial Statement

#000139305224000013 Filed on March 25, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2024
Revenue $630.6M $2.364B
YoY Change 11.93% 9.68%
Cost Of Revenue $173.9M $677.3M
YoY Change 5.85% 11.14%
Gross Profit $456.7M $1.686B
YoY Change 14.44% 9.1%
Gross Profit Margin 72.42% 71.35%
Selling, General & Admin $154.3M $613.7M
YoY Change 7.12% 11.18%
% of Gross Profit 33.78% 36.39%
Research & Development $163.5M $628.9M
YoY Change 14.75% 20.91%
% of Gross Profit 35.81% 37.29%
Depreciation & Amortization $8.628M $32.63M
YoY Change 12.36% 12.04%
% of Gross Profit 1.89% 1.93%
Operating Expenses $321.4M $1.257B
YoY Change 10.78% 15.69%
Operating Profit $135.3M $429.3M
YoY Change 24.18% -6.48%
Interest Expense $133.9M
YoY Change 191.91%
% of Operating Profit 31.18%
Other Income/Expense, Net $47.43M $158.7M
YoY Change 79.38% 217.35%
Pretax Income $182.7M $588.0M
YoY Change 34.97% 15.5%
Income Tax $35.30M $62.32M
% Of Pretax Income 19.32% 10.6%
Net Earnings $147.4M $525.7M
YoY Change -21.82% 7.79%
Net Earnings / Revenue 23.37% 22.24%
Basic Earnings Per Share $3.27
Diluted Earnings Per Share $0.90 $3.22
COMMON SHARES
Basic Shares Outstanding 161.3M shares 160.5M shares
Diluted Shares Outstanding 163.5M shares

Balance Sheet

Concept 2024 Q1 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.028B $4.028B
YoY Change 29.82% 29.82%
Cash & Equivalents $703.5M $703.5M
Short-Term Investments $3.324B $3.324B
Other Short-Term Assets $86.92M $86.92M
YoY Change 6.71% 6.71%
Inventory
Prepaid Expenses
Receivables $888.5M $888.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.003B $5.003B
YoY Change 26.05% 26.05%
LONG-TERM ASSETS
Property, Plant & Equipment $104.1M $104.1M
YoY Change -0.97% -0.97%
Goodwill $440.0M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $300.7M $300.7M
YoY Change 44.92% 44.92%
Total Long-Term Assets $907.7M $907.7M
YoY Change 8.71% 8.71%
TOTAL ASSETS
Total Short-Term Assets $5.003B $5.003B
Total Long-Term Assets $907.7M $907.7M
Total Assets $5.911B $5.911B
YoY Change 23.03% 23.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $31.51M $31.51M
YoY Change -24.39% -24.39%
Accrued Expenses $85.75M $85.75M
YoY Change -5.66% -5.66%
Deferred Revenue $1.050B
YoY Change 20.76%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.179B $1.179B
YoY Change 17.09% 17.09%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $85.16M $85.16M
YoY Change 6.79% 6.79%
Total Long-Term Liabilities $85.16M $85.16M
YoY Change 6.79% 6.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.179B $1.179B
Total Long-Term Liabilities $85.16M $85.16M
Total Liabilities $1.266B $1.266B
YoY Change 16.36% 16.36%
SHAREHOLDERS EQUITY
Retained Earnings $2.740B
YoY Change 23.74%
Common Stock $1.915B
YoY Change 24.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.645B $4.645B
YoY Change
Total Liabilities & Shareholders Equity $5.911B $5.911B
YoY Change 23.03% 23.03%

Cashflow Statement

Concept 2024 Q1 2024
OPERATING ACTIVITIES
Net Income $147.4M $525.7M
YoY Change -21.82% 7.79%
Depreciation, Depletion And Amortization $8.628M $32.63M
YoY Change 12.36% 12.04%
Cash From Operating Activities $57.77M $911.3M
YoY Change -8.88% 16.77%
INVESTING ACTIVITIES
Capital Expenditures $7.735M $26.20M
YoY Change 97.98% 93.87%
Acquisitions $0.00
YoY Change
Other Investing Activities -$78.97M -$1.050B
YoY Change 123.36% 5.63%
Cash From Investing Activities -$86.70M -$1.076B
YoY Change 120.83% 6.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $10.50M $62.69M
YoY Change -22.42% 43.6%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.48M -16.19M
YoY Change 367.83% -16.45%
NET CHANGE
Cash From Operating Activities 57.77M 911.3M
Cash From Investing Activities -86.70M -1.076B
Cash From Financing Activities -10.48M -16.19M
Net Change In Cash -39.42M -181.2M
YoY Change -280.04% -26.52%
FREE CASH FLOW
Cash From Operating Activities $57.77M $911.3M
Capital Expenditures $7.735M $26.20M
Free Cash Flow $50.03M $885.1M
YoY Change -15.9% 15.41%

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CY2024 us-gaap Share Based Compensation
ShareBasedCompensation
393733000 usd
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
351907000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
234636000 usd
CY2024 veev Amortization Of Deferred Costs Excluding Right Of Use Assets
AmortizationOfDeferredCostsExcludingRightOfUseAssets
18177000 usd
CY2023 veev Amortization Of Deferred Costs Excluding Right Of Use Assets
AmortizationOfDeferredCostsExcludingRightOfUseAssets
22096000 usd
CY2022 veev Amortization Of Deferred Costs Excluding Right Of Use Assets
AmortizationOfDeferredCostsExcludingRightOfUseAssets
26050000 usd
CY2024 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-105374000 usd
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-127502000 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
11079000 usd
CY2024 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
222000 usd
CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-971000 usd
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
782000 usd
CY2024 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
693000 usd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
256000 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
272000 usd
CY2024 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
149810000 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
72177000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
67020000 usd
CY2023 veev Increase Decrease In Unbilled Accounts Receivable
IncreaseDecreaseInUnbilledAccountsReceivable
18908000 usd
CY2022 veev Increase Decrease In Unbilled Accounts Receivable
IncreaseDecreaseInUnbilledAccountsReceivable
16060000 usd
CY2023 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
20815000 usd
CY2022 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
17084000 usd
CY2024 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-414000 usd
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
47399000 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2910000 usd
CY2024 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-10230000 usd
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
21429000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2997000 usd
CY2024 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-4249000 usd
CY2023 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
9276000 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
9439000 usd
CY2024 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
6916000 usd
CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-2815000 usd
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
5275000 usd
CY2024 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
188164000 usd
CY2023 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
140472000 usd
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
116144000 usd
CY2024 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-6879000 usd
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-10644000 usd
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-11607000 usd
CY2024 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
956000 usd
CY2023 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
8921000 usd
CY2022 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
7481000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
780470000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
764463000 usd
CY2024 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
2697968000 usd
CY2023 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
1996878000 usd
CY2022 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
1117076000 usd
CY2024 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
1647813000 usd
CY2023 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
1002707000 usd
CY2022 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
792918000 usd
CY2024 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
CY2023 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
7780000 usd
CY2024 us-gaap Payments For Software
PaymentsForSoftware
26196000 usd
CY2023 us-gaap Payments For Software
PaymentsForSoftware
13512000 usd
CY2022 us-gaap Payments For Software
PaymentsForSoftware
14214000 usd
CY2024 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1076351000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1007683000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-346152000 usd
CY2024 veev Finance Lease Proceeds Payments Net
FinanceLeaseProceedsPaymentsNet
0 usd
CY2023 veev Finance Lease Proceeds Payments Net
FinanceLeaseProceedsPaymentsNet
0 usd
CY2022 veev Finance Lease Proceeds Payments Net
FinanceLeaseProceedsPaymentsNet
-384000 usd
CY2024 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
62687000 usd
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
43654000 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
51538000 usd
CY2024 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
78875000 usd
CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
63030000 usd
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
55294000 usd
CY2024 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-16188000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-19376000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4140000 usd
CY2024 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1780000 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-4986000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-4657000 usd
CY2024 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-182980000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-251575000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
409514000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
889650000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1141225000 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
731711000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
706670000 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
703487000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
886465000 usd
CY2024Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3183000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1141225000 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
167952000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
58627000 usd
CY2024 veev Excess Tax Benefit From Employee Stock Plans
ExcessTaxBenefitFromEmployeeStockPlans
71049000 usd
CY2023 veev Excess Tax Benefit From Employee Stock Plans
ExcessTaxBenefitFromEmployeeStockPlans
82009000 usd
CY2022 veev Excess Tax Benefit From Employee Stock Plans
ExcessTaxBenefitFromEmployeeStockPlans
56172000 usd
CY2024 veev Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
46000 usd
CY2023 veev Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
-454000 usd
CY2022 veev Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
-2489000 usd
CY2024 veev Amortization Period Of Deferred Costs
AmortizationPeriodOfDeferredCosts
P3Y
CY2024 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:18pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates, judgments and assumptions that affect the consolidated financial statements and the notes thereto. These estimates are based on information available as of the date of the consolidated financial statements. On a regular basis, management evaluates these estimates and assumptions. Items subject to such estimates and assumptions include, but are not limited to:</span></div><div style="margin-top:6pt;padding-left:54pt;text-indent:-27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:23.5pt">the standalone selling price for each distinct performance obligation included in customer contracts with multiple performance obligations;</span></div><div style="margin-top:6pt;padding-left:54pt;text-indent:-27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:23.5pt">the determination of the period of benefit for amortization of deferred costs;</span></div><div style="margin-top:6pt;padding-left:54pt;text-indent:-27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:23.5pt">the realizability of deferred income tax assets;</span></div><div style="margin-top:6pt;padding-left:54pt;text-indent:-27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:23.5pt">the fair value of our stock-based awards.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As future events cannot be determined with precision, actual results could differ significantly from those estimates.</span></div>
CY2024 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2024 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2024 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:18pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Certain Risks and Concentrations of Credit Risk</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our revenues are derived from subscription services, professional services and other services delivered primarily to the life sciences industry. We operate in markets that are highly competitive and rapidly changing. Significant technological changes, shifting customer needs, the emergence of competitive products or services with new capabilities, and other factors could negatively impact our future operating results.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our financial instruments that potentially subject us to concentration of credit risk consist primarily of cash and cash equivalents, short-term investments, and trade accounts receivable. Our cash equivalents and short-term investments are held by established financial institutions. We have established guidelines relative to credit ratings, diversification, and maturities that seek to maintain safety and liquidity. Deposits in these financial institutions may significantly exceed federally insured limits.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We do not require collateral from our customers and generally require payment within 30 days to 60 days of billing.</span></div>
CY2024 veev Maximum Period To Consider Highly Liquid Investments As Cash Equivalents
MaximumPeriodToConsiderHighlyLiquidInvestmentsAsCashEquivalents
P3M
CY2024 us-gaap Number Of Reporting Units
NumberOfReportingUnits
1 reporting_unit
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2024 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2024 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2024 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div style="margin-top:18pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Indemnification</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our contracts generally include provisions for indemnifying customers against liabilities if our solutions infringe a third party’s intellectual property rights, and we may also incur liabilities if we breach the security and/or confidentiality obligations in our contracts. To date, we have not incurred any material costs, and we have not accrued any liabilities in the accompanying consolidated financial statements as a result of these obligations.</span></div>
CY2024Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
3321633000 usd
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
13892000 usd
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
11256000 usd
CY2024Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
3324269000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
2244966000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2555000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
31358000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
2216163000 usd
CY2024Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
919871000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
849673000 usd
CY2024Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
2404398000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
1366490000 usd
CY2024Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
3324269000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
2216163000 usd
CY2024Q1 us-gaap Deferred Costs
DeferredCosts
24000000 usd
CY2023Q1 us-gaap Deferred Costs
DeferredCosts
32000000 usd
CY2024 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
18000000 usd
CY2023 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
22000000 usd
CY2022 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
26000000 usd
CY2024 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 usd
CY2023 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 usd
CY2022 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 usd
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
95289000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
81932000 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
36757000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
32115000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
58532000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
49817000 usd
CY2024 us-gaap Depreciation
Depreciation
6000000 usd
CY2023 us-gaap Depreciation
Depreciation
6000000 usd
CY2022 us-gaap Depreciation
Depreciation
7000000 usd
CY2024Q1 us-gaap Goodwill
Goodwill
440000000 usd
CY2023Q1 us-gaap Goodwill
Goodwill
440000000 usd
CY2024Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
177042000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
114025000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
63017000 usd
CY2023Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
177042000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
94566000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
82476000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
19000000 usd
CY2024 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
19000000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
19000000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
18557000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
14147000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
8922000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
7778000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
7782000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
5831000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
63017000 usd
CY2024Q1 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
9848000 usd
CY2023Q1 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
11240000 usd
CY2024Q1 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
3481000 usd
CY2023Q1 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
3484000 usd
CY2024Q1 us-gaap Accrued Vacation Current
AccruedVacationCurrent
7375000 usd
CY2023Q1 us-gaap Accrued Vacation Current
AccruedVacationCurrent
6653000 usd
CY2024Q1 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
13829000 usd
CY2023Q1 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
16229000 usd
CY2024Q1 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
8900000 usd
CY2023Q1 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
6676000 usd
CY2024Q1 us-gaap Employee Related Liabilities Current
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CY2023Q1 veev Accrued Fees Current
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CY2024Q1 us-gaap Taxes Payable Current
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CY2023Q1 us-gaap Taxes Payable Current
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CY2024 us-gaap Current Income Tax Expense Benefit
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CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2024 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2023Q1 us-gaap Deferred Tax Assets Other
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CY2024Q1 us-gaap Deferred Tax Assets Net
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CY2023Q1 us-gaap Deferred Tax Assets Net
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CY2024Q1 us-gaap Deferred Tax Liabilities Deferred Expense
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CY2024Q1 us-gaap Deferred Income Tax Liabilities
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CY2023Q1 us-gaap Deferred Income Tax Liabilities
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CY2024Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
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CY2024Q1 us-gaap Unrecognized Tax Benefits
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CY2024Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2022Q1 us-gaap Unrecognized Tax Benefits
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CY2021Q1 us-gaap Unrecognized Tax Benefits
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CY2024 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2024 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
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CY2024 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2024 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2024 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2024Q1 us-gaap Unrecognized Tax Benefits
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CY2023Q1 us-gaap Unrecognized Tax Benefits
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CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
25241000 usd
CY2024Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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CY2023Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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CY2023 us-gaap Operating Lease Payments
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CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
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CY2024Q1 us-gaap Operating Lease Liability
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CY2023Q4 us-gaap Common Stock Shares Authorized
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CY2024Q1 us-gaap Common Stock Shares Outstanding
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2024 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2024 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2024 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
589676 shares
CY2024 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2024 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
626000000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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CY2024 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
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CY2024 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
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CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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CY2024Q1 us-gaap Share Price
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CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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CY2024 us-gaap Realized Investment Gains Losses
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CY2023 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
591000 usd
CY2022 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-714000 usd
CY2024 us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
24817000 usd
CY2023 us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
2982000 usd
CY2022 us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
-7201000 usd
CY2024 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
133748000 usd
CY2023 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
45860000 usd
CY2022 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
14730000 usd
CY2024 veev Other Income Miscellaneous
OtherIncomeMiscellaneous
0 usd
CY2023 veev Other Income Miscellaneous
OtherIncomeMiscellaneous
572000 usd
CY2022 veev Other Income Miscellaneous
OtherIncomeMiscellaneous
0 usd
CY2024 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
158689000 usd
CY2023 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
50005000 usd
CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6815000 usd
CY2024 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6083281 shares
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3945110 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
958476 shares
CY2024Q1 veev Number Of Product Areas
NumberOfProductAreas
2 product_area
CY2024 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2363673000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2155060000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1850777000 usd
CY2024 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2363673000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2155060000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1850777000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
58532000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
49817000 usd
CY2024 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
9000000 usd
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
8000000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
7000000 usd
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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