VEEVA SYSTEMS INC, 10-K filed on 3/30/2023
Annual Report
v3.23.1
Cover Page - USD ($)
$ in Billions
 12 Months Ended
Jan. 31, 2023
Feb. 28, 2023
Jul. 31, 2022
Document And Entity Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Jan. 31, 2023    
Current Fiscal Year End Date --01-31    
Document Transition Report false    
Entity File Number 001-36121    
Entity Registrant Name Veeva Systems Inc.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 20-8235463    
Entity Address, Address Line One 4280 Hacienda Drive    
Entity Address, City or Town Pleasanton    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 94588    
City Area Code 925    
Local Phone Number 452-6500    
Title of 12(b) Security Class A Common Stock,par value $0.00001 per share    
Trading Symbol VEEV    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Entity Public Float     $ 31.3
Documents Incorporated by Reference Portions of the Registrant’s Proxy Statement for the 2023 Annual Meeting of Stockholders are incorporated herein by reference in Part III of this Form 10-K to the extent stated herein. The proxy statement will be filed by the Registrant with the Securities and Exchange Commission within 120 days after the end of the Registrant’s fiscal year ended January 31, 2023.    
Amendment Flag false    
Document Fiscal Year Focus 2023    
Document Fiscal Period Focus FY    
Entity Central Index Key 0001393052    
Class A common stock      
Document And Entity Information [Line Items]      
Entity Common Stock, Shares Outstanding (in shares)   145,254,851  
Class B common stock      
Document And Entity Information [Line Items]      
Entity Common Stock, Shares Outstanding (in shares)   14,551,598  
v3.23.1
Audit Information
 12 Months Ended
Jan. 31, 2023
Audit Information [Abstract]  
Auditor Firm ID 185
Auditor Name KPMG LLP
Auditor Location Santa Clara, California
v3.23.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Current assets:    
Cash and cash equivalents $ 886,465 $ 1,138,040
Short-term investments 2,216,163 1,238,064
Accounts receivable, net of allowance for doubtful accounts of $469 and $473, respectively 703,055 631,134
Unbilled accounts receivable 82,174 63,266
Prepaid expenses and other current assets 81,456 36,679
Total current assets 3,969,313 3,107,183
Property and equipment, net 49,817 54,495
Deferred costs, net 31,825 33,106
Lease right-of-use assets 55,336 49,640
Goodwill 439,877 439,877
Intangible assets, net 82,476 101,940
Deferred income taxes 136,697 5,097
Other long-term assets 38,955 25,127
Total assets 4,804,296 3,816,465
Current liabilities:    
Accounts payable 41,678 20,348
Accrued compensation and benefits 44,282 33,834
Accrued expenses and other current liabilities 35,306 36,109
Income tax payable 4,946 7,761
Deferred revenue 869,285 731,746
Lease liabilities 11,306 10,981
Total current liabilities 1,006,803 840,779
Deferred income taxes 1,492 2,216
Lease liabilities, noncurrent 49,670 43,607
Other long-term liabilities 30,079 18,226
Total liabilities 1,088,044 904,828
Commitments and contingencies (note 14)
Stockholders’ equity:    
Additional paid-in capital 1,532,627 1,196,547
Accumulated other comprehensive loss (31,129) (11,958)
Retained earnings 2,214,752 1,727,046
Total stockholders’ equity 3,716,252 2,911,637
Total liabilities and stockholders’ equity 4,804,296 3,816,465
Class A common stock    
Stockholders’ equity:    
Common stock 2 2
Class B common stock    
Stockholders’ equity:    
Common stock $ 0 $ 0
v3.23.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Allowance for doubtful accounts $ 469 $ 473
Class A common stock    
Common stock, par value (in usd per share) $ 0.00001 $ 0.00001
Common stock, shares authorized (in shares) 800,000,000 800,000,000
Common stock, shares issued (in shares) 143,693,009 139,432,822
Common stock, shares outstanding (in shares) 143,693,009 139,432,822
Class B common stock    
Common stock, par value (in usd per share) $ 0.00001 $ 0.00001
Common stock, shares authorized (in shares) 190,000,000 190,000,000
Common stock, shares issued (in shares) 14,551,598 14,763,775
Common stock, shares outstanding (in shares) 14,551,598 14,763,775
v3.23.1
Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Revenues:      
Total revenues $ 2,155,060 $ 1,850,777 $ 1,465,069
Cost of revenues:      
Total cost of revenues [1] 609,405 503,678 408,928
Gross profit 1,545,655 1,347,099 1,056,141
Operating expenses:      
Research and development [1] 520,278 382,035 294,220
Sales and marketing [1] 348,691 288,061 235,014
General and administrative [1] 217,595 171,507 149,113
Total operating expenses [1] 1,086,564 841,603 678,347
Operating income 459,091 505,496 377,794
Other income, net 50,005 6,815 16,199
Income before income taxes 509,096 512,311 393,993
Provision for income taxes 21,390 84,921 13,995
Net income $ 487,706 $ 427,390 $ 379,998
Net income per share:      
Basic (in usd per share) $ 3.14 $ 2.79 $ 2.52
Diluted (in usd per share) $ 3.00 $ 2.63 $ 2.36
Weighted-average shares used to compute net income per share:      
Basic (in shares) 155,385 153,251 150,666
Diluted (in shares) 162,437 162,277 160,732
Other comprehensive income:      
Net change in unrealized (loss) gain on available-for-sale investments, net of tax $ (14,854) $ (9,872) $ 985
Net change in cumulative foreign currency translation loss (4,317) (3,078) (453)
Comprehensive income 468,535 414,440 380,530
Subscription services      
Revenues:      
Total revenues 1,733,002 1,483,976 1,179,486
Cost of revenues:      
Total cost of revenues [1] 257,635 224,911 184,589
Professional services and other      
Revenues:      
Total revenues 422,058 366,801 285,583
Cost of revenues:      
Total cost of revenues [1] $ 351,770 $ 278,767 $ 224,339
[1]
(1) Includes stock-based compensation as follows:
Cost of revenues:
Cost of subscription services$6,257 $4,795 $4,840 
Cost of professional services and other50,341 36,293 27,698 
Research and development141,571 83,837 63,541 
Sales and marketing87,509 56,830 40,574 
General and administrative66,229 52,881 48,348 
Total stock-based compensation$351,907 $234,636 $185,001 
v3.23.1
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Total stock-based compensation $ 351,907 $ 234,636 $ 185,001
Cost of subscription services      
Total stock-based compensation 6,257 4,795 4,840
Cost of professional services and other      
Total stock-based compensation 50,341 36,293 27,698
Research and development      
Total stock-based compensation 141,571 83,837 63,541
Sales and marketing      
Total stock-based compensation 87,509 56,830 40,574
General and administrative      
Total stock-based compensation $ 66,229 $ 52,881 $ 48,348
v3.23.1
Consolidated Statements of Stockholders' Equity - USD ($)
$ in Thousands
Total
Class A & B common stock
Additional paid-in capital
Retained earnings
Accumulated other comprehensive income (loss)
Beginning balance (in shares) at Jan. 31, 2020   149,095,583      
Beginning balance at Jan. 31, 2020 $ 1,665,594 $ 1 $ 745,475 $ 919,658 $ 460
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock upon exercise of stock options (in shares)   1,839,723      
Issuance of common stock upon    exercise of stock options 34,816 $ 1 34,815    
Issuance of common stock upon vesting of restricted stock units (in shares)   1,121,502      
Stock-based compensation expense 185,380   185,380    
Other comprehensive income (loss) 532       532
Net income 379,998     379,998  
Ending balance (in shares) at Jan. 31, 2021   152,056,808      
Ending balance at Jan. 31, 2021 2,266,320 $ 2 965,670 1,299,656 992
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock upon exercise of stock options (in shares)   1,476,898      
Issuance of common stock upon    exercise of stock options 51,538   51,538    
Issuance of common stock upon vesting of restricted stock units (in shares)   854,536      
Shares withheld related to net share settlement (in shares)   (191,645)      
Shares withheld related to net share settlement (56,398)   (56,398)    
Stock-based compensation expense 235,737   235,737    
Other comprehensive income (loss) (12,950)       (12,950)
Net income 427,390     427,390  
Ending balance (in shares) at Jan. 31, 2022   154,196,597      
Ending balance at Jan. 31, 2022 $ 2,911,637 $ 2 1,196,547 1,727,046 (11,958)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock upon exercise of stock options (in shares) 3,421,303 3,421,303      
Issuance of common stock upon    exercise of stock options $ 43,654   43,654    
Issuance of common stock upon vesting of restricted stock units (in shares)   968,004      
Shares withheld related to net share settlement (in shares)   (341,297)      
Shares withheld related to net share settlement (63,654)   (63,654)    
Stock-based compensation expense 356,080   356,080    
Other comprehensive income (loss) (19,171)       (19,171)
Net income 487,706     487,706  
Ending balance (in shares) at Jan. 31, 2023   158,244,607      
Ending balance at Jan. 31, 2023 $ 3,716,252 $ 2 $ 1,532,627 $ 2,214,752 $ (31,129)
v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Cash flows from operating activities      
Net income $ 487,706 $ 427,390 $ 379,998
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 29,122 27,448 29,455
Reduction of operating lease right-of-use assets 12,198 11,445 10,347
(Accretion) amortization of discount on short-term investments (3,624) 6,264 3,134
Stock-based compensation 351,907 234,636 185,001
Amortization of deferred costs 22,096 26,050 20,677
Deferred income taxes (127,502) 11,079 (1,048)
Loss (gain) on foreign currency from mark-to-market derivative 971 (782) (365)
Bad debt expense (recovery) 256 272 (307)
Changes in operating assets and liabilities:      
Accounts receivable (72,177) (67,020) (174,067)
Unbilled accounts receivable (18,908) (16,060) (14,387)
Deferred costs (20,815) (17,084) (27,164)
Prepaid expenses and other current and long-term assets (47,399) (2,910) (12,424)
Accounts payable 21,429 (2,997) 754
Accrued expenses and other current liabilities 9,276 9,439 13,889
Income taxes payable (2,815) 5,275 (3,023)
Deferred revenue 140,472 116,144 147,479
Operating lease liabilities (10,644) (11,607) (9,129)
Other long-term liabilities 8,921 7,481 2,426
Net cash provided by operating activities 780,470 764,463 551,246
Cash flows from investing activities      
Purchases of short-term investments (1,996,878) (1,117,076) (979,292)
Maturities and sales of short-term investments 1,002,707 792,918 654,341
Acquisitions, net of cash and restricted cash acquired 0 (7,780) 0
Long-term assets (13,512) (14,214) (8,683)
Net cash used in investing activities (1,007,683) (346,152) (333,634)
Cash flows from financing activities      
Changes in lease liabilities - finance leases 0 (384) (1,039)
Proceeds from exercise of common stock options 43,654 51,538 34,857
Taxes paid related to net share settlement of equity awards (63,030) (55,294) 0
Net cash (used in) provided by financing activities (19,376) (4,140) 33,818
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (4,986) (4,657) 484
Net change in cash, cash equivalents, and restricted cash (251,575) 409,514 251,914
Cash, cash equivalents, and restricted cash at beginning of period 1,141,225 731,711 479,797
Cash, cash equivalents, and restricted cash at end of period 889,650 1,141,225 731,711
Cash, cash equivalents, and restricted cash at end of period:      
Cash and cash equivalents 886,465 1,138,040 730,504
Restricted cash included in other long-term assets 3,185 3,185 1,207
Cash, cash equivalents, and restricted cash at end of period 889,650 1,141,225 731,711
Supplemental disclosures of other cash flow information:      
Cash paid for income taxes, net of refunds 167,952 58,627 18,096
Excess tax benefits from employee stock plans 82,009 56,172 80,661
Non-cash investing activities:      
Changes in accounts payable and accrued expenses related to property and equipment purchases $ (454) $ (2,489) $ 3,165
v3.23.1
Summary of Business and Significant Accounting Policies
 12 Months Ended
Jan. 31, 2023
Accounting Policies [Abstract]  
Summary of Business and Significant Accounting Policies Summary of Business and Significant Accounting Policies
Description of Business
Veeva is the leading provider of industry cloud solutions for the global life sciences industry. Our offerings span cloud software, data, analytics, professional services, and business consulting and are designed to meet the unique needs of our customers and their most strategic business functions—from research and development (R&D) to commercialization. Our solutions help life sciences companies develop and bring products to market faster and more efficiently, market and sell more effectively, and maintain compliance with government regulations. Our Commercial Solutions help life sciences companies achieve better, more intelligent engagement with healthcare professionals and healthcare organizations across multiple communication channels, and plan and execute more effective media and marketing campaigns. Our R&D Solutions for the clinical, quality, regulatory, and safety functions help life sciences companies streamline their end-to-end product development processes to increase operational efficiency and maintain regulatory compliance throughout the product life cycle. We also bring the benefits of our content and data management solutions to a set of customers outside of life sciences in the consumer product and chemical industries. Our fiscal year end is January 31.
Principles of Consolidation and Basis of Presentation
These consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding annual financial reporting and include the accounts of our wholly-owned subsidiaries after elimination of intercompany accounts and transactions.
Use of Estimates
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:
•the standalone selling price for each distinct performance obligation included in customer contracts with multiple performance obligations;
•the determination of the period of benefit for amortization of deferred costs;
•the realizability of deferred income tax assets;
•the fair value of our stock-based awards.
As future events cannot be determined with precision, actual results could differ significantly from those estimates.
Segment Information
Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assessing performance. We define the term “chief operating decision maker” to be our Chief Executive Officer. Our Chief Executive Officer reviews the financial information presented on a consolidated basis for purposes of allocating resources and evaluating our financial performance. Accordingly, we have determined that we operate in a single operating and reportable segment. Since we operate in one operating segment, all required financial segment information can be found in the consolidated financial statements.
Revenue Recognition
We derive our revenues primarily from subscription services and professional services. Subscription services revenues consist of fees from customers accessing our cloud-based software solutions and fees for our data solutions. Professional services and other revenues consist primarily of fees from implementation services, configuration, data services, business consulting, training, and managed services related to our solutions. Revenues are recognized when control of these services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those services.
We determine revenue recognition through the following steps:
•Identification of the contract, or contracts, with a customer;
•Identification of the performance obligations in the contract;
•Determination of the transaction price;
•Allocation of the transaction price to the performance obligations in the contract; and
•Recognition of revenue when, or as, we satisfy a performance obligation.
Our subscription services agreements are generally non-cancellable during the term, although customers typically have the right to terminate their agreements for cause in the event of material breach.
Subscription Services Revenues
Subscription services revenues are recognized ratably over the respective non-cancellable subscription term because of the continuous transfer of control to the customer. Our subscription arrangements are considered service contracts, and the customer does not have the right to take possession of the software.
Professional Services and Other Revenues
The majority of our professional services arrangements are billed on a time and materials basis and revenues are recognized over time based on time incurred and contractually agreed upon rates. Certain professional services revenues are billed on a fixed fee basis and revenues are typically recognized over time as the services are delivered based on time incurred. Data services and training revenues are generally recognized as the services are performed.
Contracts with Multiple Performance Obligations
Some of our contracts with customers contain multiple performance obligations. For these contracts, we account for individual performance obligations separately when they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. We determine the standalone selling prices based on our overall pricing objectives, taking into consideration market conditions and other factors, including other groupings such as customer type and geography.
Deferred Costs
Deferred costs represents sales commissions associated with obtaining a contract with a customer. These costs are deferred and then amortized over a period of benefit that we have determined to be one to three years. We determined the period of benefit by taking into consideration the expected renewal period of our customer contracts, our technology and other factors. Amortization expense is included in sales and marketing expenses in the accompanying consolidated statements of comprehensive income.
Certain Risks and Concentrations of Credit Risk
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.
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.
We do not require collateral from our customers and generally require payment within 30 days to 60 days of billing.
The following customers individually exceeded 10% of total accounts receivable as of the dates shown:
January 31,
20232022
Customer 111%10%
Customer 211%10%
No single customer represented over 10% of our total revenues for any of the years presented.
Cash Equivalents
We consider all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.
Short-term Investments
Our short-term investments are classified as available-for-sale and recorded at estimated fair value. Unrealized gains and losses for available-for-sale securities are included in accumulated other comprehensive income, a component of stockholders’ equity. We evaluate our investments to assess whether those with unrealized loss positions are other than temporarily impaired. We consider impairments to be other than temporary if they are related to deterioration in credit risk or if it is likely we will sell the securities before the recovery of their cost basis. Realized gains and losses and declines in value judged to be other than temporary are determined based on the specific identification method and are reported in other income, net, in the consolidated statements of comprehensive income. Interest, amortization of premiums, and accretion of discount on all short-term investments are also included as a component of other income, net, in the consolidated statements of comprehensive income.
We may sell our short-term investments at any time, without significant penalty, for use in current operations or for other purposes, even if they have not yet reached maturity. As a result, we classify our investments, including securities with maturities beyond 12 months, as current assets in the accompanying consolidated balance sheets.
Accounts Receivable and Allowance for Doubtful Accounts
Accounts receivable are recorded at the invoiced amount, net of allowance for doubtful accounts.
Property and Equipment
Property and equipment is stated at cost less accumulated depreciation. Depreciation is calculated on the straight-line method over the estimated useful lives of the assets and commences once the asset is placed in service or ready for its intended use. Land is not depreciated. The estimated useful lives by asset classification are as follows:
Building30 years
Building improvementsRemaining useful life of the building
Equipment and computers3 years
Furniture and fixtures5 years
Land improvements10 years
Leasehold improvementsShorter of remaining life of the lease term or estimated useful life
Leases
We have operating leases for corporate offices. Additionally, we are the sublessor for certain office space.
We recognize lease right-of-use assets and liabilities at the commencement date based on the present value of lease payments over the lease term. We use an estimate of our discount rate based on the information available at the lease commencement date in determining the present value of lease payments, unless the implicit rate is readily determinable. The lease right-of-use assets also include any lease payments made and exclude lease incentives such as tenant improvement allowances. Options to extend or terminate the lease are included in the lease term when it is reasonably certain that we will exercise the extension or termination option.
Our operating leases typically include non-lease components such as common-area maintenance costs. We have elected to exclude non-lease components from lease payments for the purpose of calculating lease right-of-use assets and liabilities and these variable lease payments are expensed as incurred.
Leases with a term of one year or less are not recognized on our consolidated balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term.
Internal-Use Software
We capitalize certain costs incurred for the development of computer software for internal use. We capitalize these costs during the development of the software project, when it is determined that it is probable that the project will be completed and the software will be used as intended. Costs related to preliminary project activities, post-implementation activities, training, and maintenance are expensed as incurred. Internal-use software is amortized on a straight-line basis over its estimated useful life of three years, and the amortization expense is recorded as a component of cost of subscription services. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets.
Goodwill and Intangible Assets
Goodwill is evaluated for impairment at least annually or more frequently if circumstances indicate that goodwill may be impaired. A qualitative assessment is performed to determine whether it is more likely than not that the fair value of its reporting unit is less than its carrying amount. If the reporting unit does not pass the qualitative assessment, the carrying amount of the reporting unit, including goodwill, is compared to fair value and goodwill is considered impaired if the carrying value of the reporting unit exceeds its fair value. Any excess of the carrying value of the goodwill above its fair value is recognized as an impairment loss.
We have one reporting unit and evaluate goodwill for impairment at the entity level. We completed our annual impairment test in our fourth quarter of the fiscal year ended January 31, 2023. There was no goodwill impairment during the years ended January 31, 2023, 2022 and 2021.
Intangible assets associated with purchased intangibles, consisting of existing technology, customer relationships, trade names and trademarks, and data supplier and partner relationships are stated at cost less accumulated amortization and are amortized on a straight-line basis over their estimated remaining economic lives. Amortization expense related to existing technology and data supplier and partner relationships are included in cost of subscription services. Amortization expense related to customer relationships and trade names and trademarks are included in sales and marketing expense.
Long-Lived Assets
Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, we first compare undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. There were no impairment charges recognized during any of the periods presented.
Business Combinations
The purchase price in a business combination is assigned to the estimated acquisition date fair values of the tangible and intangible assets acquired and the liabilities assumed with the residual recorded as goodwill. Critical estimates in valuing certain of the intangible assets include, but are not limited to, the net present value of future
expected cash flows, future revenue growth, margins, customer retention rates, technology life, royalty rates, expected use of acquired assets, and discount rates.
Stock-based Compensation
We recognize compensation expense for all stock-based awards, including stock options and restricted stock units (RSUs), based on the estimate of fair value of the award at the grant date. The fair value of each option award is estimated on the grant date using either a Black-Scholes option-pricing model or a Monte Carlo simulation, to the extent market conditions exist, and a single option award approach. These models require that at the date of grant we determine the fair value of the underlying common stock, the expected term of the award, the expected volatility of the price of our common stock, risk-free interest rates, and expected dividend yield of our common stock. The fair value of each RSU award is measured based on the closing stock price of our common stock on the date of grant. We account for forfeitures as they occur. The compensation expense is recognized using a straight-line basis over the requisite service periods of the awards, which is one to five years for RSUs and four to eight years for stock options.
Cost of Revenues
Cost of subscription services revenues consists of expenses related to our computing infrastructure provided by third parties, including Salesforce, Inc. and Amazon Web Services, personnel-related costs associated with hosting our subscription services and providing support including our data stewards, data acquisition, and third-party contractor costs related to the development of our data products, allocated overhead, amortization expense associated with capitalized internal-use software, and amortization expense associated with purchased intangibles related to our subscription services. Cost of subscription services revenues for Veeva CRM and certain of our multichannel customer relationship management applications include fees paid to Salesforce, Inc. for our use of the Salesforce platform and the associated hosting infrastructure and data center operations that are provided by Salesforce, Inc.
Cost of professional services and other revenues consists primarily of employee-related expenses associated with providing these services, including salaries, benefits and stock-based compensation expense, the cost of third-party subcontractors, travel costs, and allocated overhead.
Advertising Expenses
Advertising expenditures are expensed as incurred and were immaterial for each of the years presented.
Income Taxes
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
We regularly assess the realizability of our deferred tax assets and establish a valuation allowance if it is more likely than not that some or all of our deferred tax assets will not be realized. We evaluate and weigh all available positive and negative evidence such as historic results, future reversals of existing deferred tax liabilities, projected future taxable income, as well as prudent and feasible tax-planning strategies. Generally, more weight is given to objectively verifiable evidence such as the cumulative income in recent years.
We establish liabilities or reduce assets for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining whether the weight of available evidence indicates that it is more likely than not that the position will be sustained upon an audit, including resolution of related appeals or litigation processes, if any. The second step requires us to measure the tax benefit as the largest amount that is more likely than not to be realized upon ultimate settlement. We recognize interest accrued and penalties related to unrecognized tax benefits as a component of provision for income taxes.
Foreign Currency Exchange
Adjustments resulting from translating financial statements for those entities that do not have U.S. dollars as their functional currency are recorded as part of a separate component of the consolidated statements of comprehensive income. All assets and liabilities denominated in currencies other than U.S. dollars are translated into the U.S. dollar functional currency at the exchange rate on the balance sheet date. Revenues and expenses are translated at the average exchange rate during the period. Equity transactions are translated using historical exchange rates. Foreign currency transaction gains and losses are included in the consolidated statements of comprehensive income for the period.
Indemnification
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.
Loss Contingencies
Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred.
v3.23.1
Short-Term Investments
 12 Months Ended
Jan. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Short-Term Investments Short-Term Investments
As of January 31, 2023, short-term investments consisted of the following (in thousands):
Amortized
cost
Gross
unrealized
gains
Gross
unrealized
losses
Estimated
fair
value
Available-for-sale securities:
Certificates of deposits$37,998 $31 $(66)$37,963 
Asset-backed securities448,081 585 (5,708)442,958 
Commercial paper155,097 8 (580)154,525 
Corporate notes and bonds1,224,195 1,649 (17,880)1,207,964 
Foreign government bonds24,654 13 (516)24,151 
U.S. agency obligations32,995 4 (594)32,405 
U.S. treasury securities321,946 265 (6,014)316,197 
Total available-for-sale securities$2,244,966 $2,555 $(31,358)$2,216,163 
As of January 31, 2022, short-term investments consisted of the following (in thousands):
Amortized
cost
Gross
unrealized
gains
Gross
unrealized
losses
Estimated
fair
value
Available-for-sale securities:
Certificates of deposits$13,500 $— $(15)$13,485 
Asset-backed securities191,676 45 (1,432)190,289 
Commercial paper29,432 — (2)29,430 
Corporate notes and bonds669,489 276 (5,856)663,909 
Foreign government bonds24,577 13 (179)24,411 
U.S. agency obligations27,978 12 (254)27,736 
U.S. treasury securities290,513 46 (1,755)288,804 
Total available-for-sale securities$1,247,165 $392 $(9,493)$1,238,064 
The following table summarizes the estimated fair value of our short-term investments, designated as available-for-sale and classified by the contractual maturity date of the securities as of the dates shown (in thousands):
January 31,
20232022
Due in one year or less$849,673 $457,948 
Due in greater than one year1,366,490 780,116 
Total $2,216,163 $1,238,064 
We have not recorded an allowance for credit losses, as we believe any such losses would be immaterial based on the high credit quality of our investments, and it is more likely than not that we will hold these securities until recovery of the cost basis.
The following table shows the fair values of available-for-sale securities which were in an unrealized loss position, aggregated by investment category, as of January 31, 2023 (in thousands):
12 months or lessGreater than 12 months
Fair
value
Gross
unrealized
losses
Fair
value		Gross
unrealized
losses
Certificates of deposits$15,934 $(66)$— $— 
Asset-backed securities293,854 (3,219)78,279 (2,489)
Commercial paper144,741 (580)— — 
Corporate notes and bonds604,264 (6,801)370,969 (11,079)
Foreign government bonds11,284 (126)11,827 (390)
U.S. agency obligations4,941 (61)24,461 (533)
U.S. treasury securities210,246 (3,661)63,422 (2,353)
The following table shows the fair values of available-for-sale securities which were in an unrealized loss position, aggregated by investment category, as of January 31, 2022 (in thousands):
Less than 12 months
Fair
value
Gross
unrealized
losses
Certificates of deposits$5,985 $(15)
Asset-backed securities177,056 (1,432)
Commercial paper17,190 (2)
Corporate notes and bonds571,099 (5,856)
Foreign government bonds19,594 (179)
U.S. agency obligations24,725 (254)
U.S. treasury securities247,509 (1,756)
Unrealized losses of available-for-sale securities held for more than 12 months as of January 31, 2022 were immaterial. There were no impairments considered other-than-temporary as of January 31, 2023 and 2022 as it is more likely than not we will hold these securities until recovery of the cost basis.
v3.23.1
Deferred Costs
 12 Months Ended
Jan. 31, 2023
Deferred Costs [Abstract]  
Deferred Costs Deferred CostsDeferred costs, which consist of deferred sales commissions, were $32 million and $33 million as of January 31, 2023 and January 31, 2022, respectively. Amortization expense for the deferred costs included in sales and marketing expenses in the consolidated statements of comprehensive income, was $22 million, $26 million, and $21 million for the fiscal years ended January 31, 2023, 2022, and 2021, respectively. There have been no impairment losses recorded in relation to the costs capitalized for any period presented.
v3.23.1
Property and Equipment, Net
 12 Months Ended
Jan. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net consists of the following as of the dates shown (in thousands):
January 31,
20232022
Land$3,040 $3,040 
Building20,984 20,984 
Land improvements and building improvements22,392 22,392 
Equipment and computers2,233 3,581 
Furniture and fixtures13,995 15,040 
Leasehold improvements18,986 19,002 
Construction in progress302 730 
81,932 84,769 
Less accumulated depreciation(32,115)(30,274)
Total property and equipment, net$49,817 $54,495 
Total depreciation expense was $6 million, $7 million, and $9 million for the fiscal years ended January 31, 2023, 2022, and 2021, respectively.
v3.23.1
Goodwill and Intangible Assets
 12 Months Ended
Jan. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill was $440 million as of January 31, 2023 and January 31, 2022.
The following schedule presents the details of intangible assets as of January 31, 2023 (dollar amounts in thousands):
January 31, 2023
Gross
carrying
amount
Accumulated
amortization
Net
Remaining
useful life
(in years)
Existing technology$28,580 $(16,418)$12,162 2.9
Customer relationships113,157 (50,293)62,864 6.1
Trade name and trademarks13,900 (9,285)4,615 1.8
Other intangibles21,405 (18,570)2,835 3.0
Total intangible assets$177,042 $(94,566)$82,476 
The following schedule presents the details of intangible assets as of January 31, 2022 (dollar amounts in thousands):
January 31, 2022
Gross
carrying
amount		Accumulated
amortization		NetRemaining
useful life
(in years)
Existing technology$28,580 $(12,187)$16,393 3.9
Customer relationships113,157 (38,829)74,328 7.0
Trade name and trademarks13,900 (6,645)7,255 2.8
Other intangibles21,405 (17,441)3,964 3.8
Total intangible assets$177,042 $(75,102)$101,940 
Amortization expense associated with intangible assets was $19 million, $19 million, and $20 million for the fiscal years ended January 31, 2023, 2022, and 2021, respectively.
As of January 31, 2023, the estimated amortization expense for intangible assets, for the next five years and thereafter is as follows (in thousands):
Fiscal 2024$19,460 
Fiscal 202518,557 
Fiscal 202614,147 
Fiscal 20278,922 
Fiscal 20287,778 
Thereafter13,612 
Total$82,476 
v3.23.1
Accrued Expenses
 12 Months Ended
Jan. 31, 2023
Payables and Accruals [Abstract]  
Accrued Expenses Accrued Expenses
Accrued expenses consisted of the following as of the dates shown (in thousands):
January 31,
20232022
Accrued commissions$11,240 $8,556 
Accrued bonus3,484 4,677 
Accrued vacation(1)
6,653 5,546 
Payroll tax payable16,229 9,487 
Accrued other compensation and benefits6,676 5,568 
Total accrued compensation and benefits$44,282 $33,834 
Accrued fees payable to Salesforce, Inc.$6,653 $6,521 
Taxes payable9,197 9,743 
Accrued third-party professional services subcontractors' fees2,597 1,961 
Other accrued expenses16,859 17,884 
Total accrued expenses and other current liabilities$35,306 $36,109 
(1) Represents accrued vacation primarily for international employees. Vacation does not accrue for most U.S. employees.
v3.23.1
Fair Value Measurements
 12 Months Ended
Jan. 31, 2023
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The carrying amounts of accounts receivable and other current assets, accounts payable, and accrued liabilities approximate their fair value due to their short-term nature.
Financial assets and liabilities recorded at fair value in the consolidated financial statements are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels, which are directly related to the amount of subjectivity associated with the inputs to the valuation of these assets or liabilities are as follows:
Level 1—Observable inputs, such as quoted prices in active markets for identical assets or liabilities.
Level 2—Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
Financial assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires management to make judgments and considers factors specific to the asset or liability.
The following table presents the fair value hierarchy for financial assets measured at fair value on a recurring basis as of January 31, 2023 (in thousands):
Level 1
Level 2
Total
Assets
Cash equivalents:
Money market funds$180,895 $— $180,895 
U.S. Treasury securities— 22,929 22,929 
Corporate notes and bonds— 6,691 6,691 
Short-term investments:
Certificates of deposits— 37,963 37,963 
Asset-backed securities— 442,958 442,958 
Commercial paper— 154,525 154,525 
Corporate notes and bonds— 1,207,964 1,207,964 
Foreign government bonds— 24,151 24,151 
U.S. agency obligations— 32,405 32,405 
U.S. Treasury securities— 316,197 316,197 
Foreign currency derivative contracts— 251 251 
Total financial assets$180,895 $2,246,034 $2,426,929 
The following table presents the fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis as of January 31, 2022 (in thousands):
Level 1
Level 2
Total
Assets
Cash equivalents:
Money market funds$428,411 $— $428,411 
Corporate notes and bonds— 5,853 5,853 
Asset-backed securities— 2,568 2,568 
Short-term investments:
Certificates of deposits— 13,485 13,485 
Asset-backed securities— 190,289 190,289 
Commercial paper— 29,430 29,430 
Corporate notes and bonds— 663,909 663,909 
Foreign government bonds— 24,411 24,411 
U.S. agency obligations— 27,736 27,736 
U.S. Treasury securities— 288,804 288,804 
Foreign currency derivative contracts— 1,222 1,222 
Total financial assets$428,411 $1,247,707 $1,676,118 
We determine the fair value of our security holdings based on pricing from our service providers and market prices from industry-standard independent data providers. The valuation techniques used to measure the fair value of financial instruments having Level 2 inputs were derived from non-binding consensus prices that are corroborated by observable market data or quoted market prices for similar instruments. Such market prices may be quoted prices in active markets for identical assets (Level 1 inputs) or pricing determined using inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs).
Balance Sheet Hedges
We enter into foreign currency forward contracts in order to hedge our foreign currency exposure. These forward contracts are not designated as hedging instruments under applicable accounting guidance, and therefore, we account for them at fair value with changes in the fair value recorded as a component of other income, net in our consolidated statements of comprehensive income. Cash flows from such forward contracts are classified as operating activities. The realized foreign currency gains were $5 million for the fiscal year ended January 31, 2023. Realized foreign currency gains and losses were not material for the fiscal years ended January 31, 2022 and January 31, 2021.
The fair value of our outstanding derivative instruments is summarized below (in thousands): 
January 31,
20232022
Notional amount of foreign currency derivative contracts$137,998 $87,097 
Fair value of foreign currency derivative contracts$137,860 $85,876 
v3.23.1
Income Taxes
 12 Months Ended
Jan. 31, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The components of income before income taxes by U.S. and foreign jurisdictions were as follows for the periods shown (in thousands):
Fiscal year ended January 31,
202320222021
United States$482,885 $487,962 $378,042 
Foreign26,211 24,349 15,951 
Total$509,096 $512,311 $393,993 
The majority of our revenues from international sales are invoiced from and collected by our U.S. entity and recognized as a component of income before taxes in the United States as opposed to a foreign jurisdiction.
Provision for income taxes consisted of the following for the periods shown (in thousands):
Fiscal year ended January 31,
202320222021
Current provision:
Federal$110,610 $53,426 $7,108 
State29,775 12,580 4,763 
Foreign8,507 7,837 2,825 
Total current provision148,892 73,843 14,696 
Deferred (benefit) provision:
Federal(98,923)1,870 (816)
State(20,755)945 681 
Foreign(7,824)8,264 (566)
Total deferred (benefit) provision(127,502)11,079 (701)
Provision for income taxes$21,390 $84,921 $13,995 
Provision for income taxes differed from the amount computed by applying the federal statutory income tax rate of 21% for each of the fiscal years ended January 31, 2023, 2022, and 2021 to income before income taxes as a result of the following for the periods shown (in thousands):
Fiscal year ended January 31,
202320222021
Federal tax statutory tax rate$106,910 $107,585 $82,739 
State taxes7,318 11,035 4,401 
Tax credits(33,463)(25,968)(24,617)
Stock-based compensation(52,304)(29,715)(54,488)
Valuation allowance5,654 19,402 10,269 
Foreign derived intangible income deduction (FDII)(15,811)(3,406)(5,134)
Other3,086 5,988 825 
Provision for income taxes$21,390 $84,921 $13,995 
The tax effects of temporary differences that give rise to significant portions of our deferred tax assets and liabilities related to the following (in thousands):
January 31,
20232022
Deferred tax assets:
Accruals and reserves$13,137 $7,068 
Capitalized expenditures123,746 10,477 
Stock-based compensation32,536 16,615 
Net operating loss carryforward12,245 21,850 
Tax credit carryforward43,732 34,725 
Lease liabilities15,724 13,813 
Other7,890 2,955 
Gross deferred tax assets249,010 107,503 
Valuation allowance(51,685)(48,484)
Total deferred tax assets197,325 59,019 
Deferred tax liabilities:
Intangible assets(28,799)(31,200)
Lease right-of-use assets(14,192)(12,497)
Deferred costs(12,949)(10,552)
Other(6,180)(1,889)
Total deferred tax liabilities(62,120)(56,138)
Net deferred tax assets$135,205 $2,881 
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. We maintain a full valuation allowance against certain foreign and net California deferred tax assets as it is not more likely than not that we will recognize the future benefits of these deferred tax assets.
As of January 31, 2023, the net operating loss carryforwards for federal, state, and foreign income tax purposes were approximately $15 million, $43 million, and $25 million, respectively. The federal net operating losses do not expire, while the state and foreign net operating losses begin to expire in 2031 and 2026, respectively.
As of January 31, 2023, we had $66 million of California research and development tax credits available to offset future taxes which do not expire.
We evaluate tax positions for recognition using a more likely than not recognition threshold, and those tax positions eligible for recognition are measured as the largest amount of tax benefit that is greater than 50% likely of being realized upon the effective settlement with a taxing authority that has full knowledge of all relevant information. We classify unrecognized tax benefits that are not expected to result in payment or receipt of cash within one year as “other non-current liabilities” in the consolidated balance sheets. As of January 31, 2023, the total amount of gross unrecognized tax benefits was $31 million, of which $18 million, if recognized, would favorably impact our effective
tax rate. The aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows for the periods shown (in thousands):
Fiscal year ended January 31,
202320222021
Beginning balance$25,241 $18,628 $14,515 
Increases related to tax positions taken during the prior period971 3,218 96 
Increases related to tax positions taken during the current period4,934 4,122 4,126 
Decreases related to tax positions taken during the prior period(137)— (51)
Audit settlements— (195)— 
Lapse of statute of limitations(296)(532)(58)
Ending balance$30,713 $25,241 $18,628 
Our policy is to classify interest and penalties associated with unrecognized tax benefits as a component of the provision for income taxes. Accrued interest and penalties included in our liability related to unrecognized tax benefits were $3 million, $2 million, and $1 million as of January 31, 2023, 2022, and 2021, respectively.
We file tax returns in the United States for federal, California, and other states. Fiscal years ended January 31, 2017 and forward remain open to examination for federal income tax, and fiscal years ended January 31, 2018 and forward remain open to examination for California and other states. We file tax returns in multiple foreign jurisdictions. The fiscal years ended January 31, 2018 and forward remain open to examination in these foreign jurisdictions.
v3.23.1
Deferred Revenue, Performance Obligations, and Unbilled Accounts Receivable
 12 Months Ended
Jan. 31, 2023
Revenue Recognition and Deferred Revenue [Abstract]  
Deferred Revenue, Performance Obligations, and Unbilled Accounts Receivable Deferred Revenue, Performance Obligations, and Unbilled Accounts ReceivableFrom the deferred revenue balance at the beginning of the respective periods, we recognized $708 million, $605 million, and $464 million of subscription services revenue during the fiscal years ended January 31, 2023, 2022, and 2021, respectively. Professional services revenue recognized in the same periods from the deferred revenue balances at the beginning of the respective periods was immaterial.
Transaction Price Allocated to the Remaining Performance Obligations
Transaction price allocated to the remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and non-cancellable amounts that will be invoiced and recognized as revenues in future periods. We applied the practical expedient in accordance with ASU 2014-09, “Revenue from Contracts with Customers” (Topic 606) to exclude the amounts related to professional services contracts as these contracts generally have a remaining duration of one year or less.
As of January 31, 2023, approximately $1,663 million of revenue is expected to be recognized from remaining performance obligations for subscription services contracts. We expect to recognize revenue on approximately 80% of these remaining performance obligations over the next 12 months, with the balance recognized thereafter.
Unbilled Accounts Receivable
Unbilled accounts receivable consists of (i) a receivable primarily for the revenue recognized for professional services performed but not yet billed, which was $32 million and $28 million as of January 31, 2023 and January 31, 2022, respectively, and (ii) a contract asset primarily for revenue recognized from non-cancellable, multi-year orders in which fees increase annually but for which we are not contractually able to invoice until a future period, which was $50 million and $36 million as of January 31, 2023 and January 31, 2022, respectively.
v3.23.1
Leases
 12 Months Ended
Jan. 31, 2023
Leases [Abstract]  
Leases Leases
We have operating leases for corporate offices. Our leases have various expiration dates through 2034, some of which include options to extend the leases for up to nine years. Additionally, we are the sublessor for certain office space. Our sublease income for the fiscal years ended January 31, 2023, 2022, and 2021 was immaterial.
For the fiscal years ended January 31, 2023, 2022, and 2021, our operating lease expense was $16 million, $14 million, and $13 million, respectively.
Supplemental cash flow information related to leases was as follows (in thousands):
Fiscal year ended January 31,
20232022
Cash paid for operating lease liabilities$12,908 $13,800 
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities$14,488 $3,848 
Supplemental balance sheet information related to operating leases was as follows (in thousands, except lease term and discount rate):
January 31,
20232022
Weighted Average Remaining Lease Term6.7 years6.0 years
Weighted Average Discount Rate4.2 %3.7 %
As of January 31, 2023, remaining maturities of operating lease liabilities are as follows (in thousands):
Fiscal 2024$8,964 
Fiscal 202511,986 
Fiscal 20269,964 
Fiscal 20278,895 
Fiscal 20288,395 
Thereafter24,259 
Total operating lease payments72,463 
Less imputed interest11,487 
Total operating lease liabilities$60,976 
Leases Leases
We have operating leases for corporate offices. Our leases have various expiration dates through 2034, some of which include options to extend the leases for up to nine years. Additionally, we are the sublessor for certain office space. Our sublease income for the fiscal years ended January 31, 2023, 2022, and 2021 was immaterial.
For the fiscal years ended January 31, 2023, 2022, and 2021, our operating lease expense was $16 million, $14 million, and $13 million, respectively.
Supplemental cash flow information related to leases was as follows (in thousands):
Fiscal year ended January 31,
20232022
Cash paid for operating lease liabilities$12,908 $13,800 
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities$14,488 $3,848 
Supplemental balance sheet information related to operating leases was as follows (in thousands, except lease term and discount rate):
January 31,
20232022
Weighted Average Remaining Lease Term6.7 years6.0 years
Weighted Average Discount Rate4.2 %3.7 %
As of January 31, 2023, remaining maturities of operating lease liabilities are as follows (in thousands):
Fiscal 2024$8,964 
Fiscal 202511,986 
Fiscal 20269,964 
Fiscal 20278,895 
Fiscal 20288,395 
Thereafter24,259 
Total operating lease payments72,463 
Less imputed interest11,487 
Total operating lease liabilities$60,976 
v3.23.1
Stockholders' Equity
 12 Months Ended
Jan. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Stockholders' Equity Stockholders’ Equity
Common Stock
We have two classes of authorized common stock: Class A common stock and Class B common stock.
As of January 31, 2023, we had 143,693,009 shares of Class A common stock and 14,551,598 shares of Class B common stock outstanding.
As of January 31, 2022, we had 139,432,822 shares of Class A common stock and 14,763,775 shares of Class B common stock outstanding.
Voting Rights
The holders of our Class B common stock are entitled to ten votes per share, and holders of our Class A common stock are entitled to one vote per share. The holders of our Class A common stock and Class B common stock vote together as a single class, unless otherwise required by our restated certificate of incorporation or by law. Delaware
law could require either holders of our Class A common stock or our Class B common stock to vote separately as a single class in the following circumstances:
•if we were to seek to amend our restated certificate of incorporation to increase the authorized number of shares of a class of stock, or to increase or decrease the par value of a class of stock, then that class would be required to vote separately to approve the proposed amendment; and
•if we were to seek to amend our restated certificate of incorporation in a manner that alters or changes the powers, preferences, or special rights of a class of stock in a manner that affected its holders adversely, then that class would be required to vote separately to approve the proposed amendment.
Our restated certificate of incorporation requires the approval of a majority of our outstanding Class B common stock voting as a separate class for any transaction that would result in a change in control of our company.
Dividend Rights
Holders of outstanding shares of our common stock are entitled to receive dividends out of funds legally available if our board of directors, in its discretion, determines to issue dividends and only then at the times and in the amounts that our board of directors may determine. To date, no dividends have been declared or paid by us.
No Preemptive or Similar Rights
Our common stock is not entitled to preemptive rights and is not subject to conversion, redemption, or sinking fund provisions.
Right to Receive Liquidation Distributions
Upon our dissolution, liquidation, or winding-up, the assets legally available for distribution to our stockholders are distributable ratably among the holders of our common stock, subject to prior satisfaction of all outstanding debt and liabilities and the preferential rights and payment of liquidation preferences, if any, on any outstanding shares of preferred stock.
Conversion Rights
Each outstanding share of Class B common stock is convertible at any time at the option of the holder into one share of Class A common stock. In addition, each share of Class B common stock will convert automatically into one share of Class A common stock upon any transfer, whether or not for value, which occurs following the closing of our IPO, except for certain permitted transfers described in our restated certificate of incorporation, including transfers to any “permitted transferee” as defined in our restated certificate of incorporation, which includes, among others, transfers:
•to trusts, corporations, limited liability companies, partnerships, foundations or similar entities established by a Class B stockholder, provided that:
•such transfer is to entities established by a Class B stockholder where the Class B stockholder retains the exclusive right to vote and direct the disposition of the shares of Class B common stock; or
•such transfer does not involve payment of cash, securities, property, or other consideration to the Class B stockholder.
Once converted into Class A common stock, a share of Class B common stock may not be reissued.
All the outstanding shares of Class A and Class B common stock will convert automatically into shares of a single class of common stock upon the earliest to occur of the following: (i) upon the election of the holders of a majority of the then-outstanding shares of Class B common stock or (ii) October 15, 2023. Following such conversion, each share of common stock will have one vote per share and the rights of the holders of all outstanding common stock will be identical. Once converted into a single class of common stock, the Class A and Class B common stock may not be reissued.
Employee Equity Plans
Beginning in the fiscal quarter ended April 30, 2019, we implemented a new equity compensation program applicable to the vast majority of our employees but not applicable to our Chief Executive Officer (CEO). Prior to the adoption of the new equity compensation program, at the time of hire, our employees received a grant of RSUs that vested quarterly over 4 years and received additional equity from time to time thereafter. Under the new equity compensation program, the vast majority of our employees are granted both RSUs, which typically vest over a one-year period, and stock options, which typically vest over a four-year period.
2007 Stock Plan
Our board of directors adopted our 2007 Stock Plan (2007 Plan) in February 2007, and our stockholders approved it in February 2007. No further awards have been made under our 2007 Plan since the adoption of the 2012 Equity Incentive Plan.

2012 Equity Incentive Plan
Our board of directors adopted our 2012 Equity Incentive Plan (2012 EIP) in November 2012, and our stockholders approved it in December 2012. An amendment and restatement of the 2012 EIP was approved by our board of directors in March 2013, and our stockholders approved it in March 2013. The 2012 EIP became effective on adoption and replaced our 2007 Plan. No further awards have been made under our 2012 EIP since the adoption of the 2013 Equity Incentive Plan.
2013 Equity Incentive Plan
Our board of directors adopted our 2013 Equity Incentive Plan in August 2013, and our stockholders approved it in September 2013. The 2013 Equity Incentive Plan became effective immediately on adoption although no awards were made under it until the date of our IPO on October 15, 2013, at which time our 2013 Equity Incentive Plan replaced our 2012 EIP. Our board of directors approved the amended and restated 2013 Equity Incentive Plan (as amended and restated, 2013 EIP) in March 2022, and our stockholders approved it in June 2022, at which time the amended and restated 2013 EIP took effect.
As of January 31, 2023, the number of shares of our Class A common stock available for issuance under the 2013 EIP was 40,161,454 plus any shares of our Class B common stock subject to awards under the 2012 EIP and the 2007 Plan that expire or lapse unexercised or, with respect to shares issued pursuant to such awards, are forfeited or repurchased by us after the date of our IPO on October 15, 2013. The number of shares available for issuance under the 2013 EIP automatically increases on the first business day of each of our fiscal years, commencing in 2014, by a number equal to the least of (a) 13.75 million shares, (b) 5% of the shares of all classes of our common stock outstanding on the last business day of the prior fiscal year, or (c) the number of shares determined by our board of directors. During our fiscal year ended January 31, 2023, our board of directors determined to add 5,396,880 shares of common stock to the 2013 EIP.
2013 Employee Stock Purchase Plan
Our Employee Stock Purchase Plan (ESPP) was adopted by our board of directors in August 2013 and our stockholders approved it in September 2013. The ESPP became effective as of our IPO registration statement on Form S-1, on October 15, 2013. Our ESPP is intended to qualify under Section 423 of the Internal Revenue Code of 1986, as amended (Code). The ESPP was approved with a reserve of 4 million shares of Class A common stock for future issuance under various terms provided for in the ESPP. As of January 31, 2023, the number of shares available for issuance under our ESPP was 4,897,856. The number of shares available for issuance under the ESPP automatically increases on the first business day of each of our fiscal years, commencing in 2014, by a number equal to the least of (a) 2.2 million shares, (b) 1% of the shares of all classes of our common stock outstanding on the last business day of the prior fiscal year or (c) the number of shares determined by our board of directors. During our fiscal year ended January 31, 2023, our board of directors determined no additional shares were to be made available for issuance under the ESPP.
During active offering periods, our ESPP permits eligible employees to acquire shares of our common stock at 85% of the lower of the fair market value of our Class A common stock on the first day of the applicable offering period or the fair market value of our Class A common stock on the purchase date. Participants may purchase shares of common stock through payroll deductions of up to 15% of their eligible compensation, subject to any plan
limitations. The initial offering period for our ESPP commenced on the date of our initial public offering and ended on June 15, 2014. We have not had any open offering periods subsequent to the initial offering period.
Stock Option Activity
The 2007 Stock Plan and the 2012 EIP provided, and the 2013 EIP provides, for the issuance of incentive and nonstatutory options to employees, consultants and non-employee directors. Options issued under and outside of the 2007 Plan generally are exercisable for periods not to exceed 10 years and generally vest over four to five years. Options issued under the 2012 EIP and 2013 EIP generally are exercisable for periods not to exceed 10 years and generally vest over four years, with certain options vesting over five to nine years. A summary of stock option activity for the fiscal year ended January 31, 2023 is as follows: 
Number
of shares
Weighted
average
exercise
price
Weighted
average
remaining
contractual
term (in years)
Aggregate
intrinsic
value
(in millions)
Options outstanding at January 31, 202212,090,522 $77.89 4.6$1,964 
Options granted3,267,206 205.48 
Options exercised(3,421,303)12.74 
Options forfeited/cancelled(433,016)209.53 
Options outstanding at January 31, 202311,503,409 $128.62 5.9$705 
Options vested and exercisable at January 31, 20235,370,570 $74.10 3.9$549 
Options vested and exercisable at January 31, 2023 and expected to vest thereafter11,503,409 $128.62 5.9$705 
The options granted during the fiscal year ended January 31, 2023 were predominantly made in connection with our annual performance review cycle. The weighted average grant-date fair value of options granted was $88.25, $108.42, and $71.86 for the fiscal years ended January 31, 2023, 2022, and 2021, respectively.
As of January 31, 2023, there was $345 million in unrecognized compensation cost related to unvested stock options granted under the 2012 Equity Incentive Plan and 2013 Equity Incentive Plan. This cost is expected to be recognized over a weighted average period of 2.5 years.
As of January 31, 2023, we had authorized and unissued shares of common stock sufficient to satisfy exercises of stock options.
Our closing stock price as reported on the New York Stock Exchange as of January 31, 2023, the last trading day of fiscal year 2023 was $170.55. The total intrinsic value of options exercised was approximately $551 million for the fiscal year ended January 31, 2023.
Stock Option Valuation Assumptions
The following table presents the weighted-average assumptions used to estimate the grant date fair value of options granted during the periods presented:
Fiscal year ended January 31,
202320222021
Volatility37%-40%37%-39%39%-42%
Expected term (in years)6.00-7.006.256.25-7.25
Risk-free interest rate1.90%-4.20%0.70%-1.60%0.33%-1.43%
Dividend yield—%—%—%
Restricted Stock Units
The 2013 EIP provides for the issuance of RSUs to employees. RSUs issued under the 2013 EIP generally vest over one to five years. A summary of RSU activity for the fiscal year ended January 31, 2023 is as follows:
Unreleased restricted
stock units
Weighted 
average grant
date fair value
Balance at January 31, 2022619,388 $175.23 
RSUs granted1,548,166 204.88 
RSUs vested(968,004)198.24 
RSUs forfeited / cancelled(95,871)200.97 
Balance at January 31, 20231,103,679 194.36 
As of January 31, 2023, there was a total of $168 million in unrecognized compensation cost related to unvested RSUs. This cost is expected to be recognized over a weighted-average period of approximately 2.3 years. The total intrinsic value of RSUs vested was $180 million for the fiscal year ended January 31, 2023.
v3.23.1
Other Income
 12 Months Ended
Jan. 31, 2023
Other Income and Expenses [Abstract]  
Other Income Other Income
Other income, net, consisted of the following (in thousands):
Fiscal year ended January 31,
202320222021
Foreign currency gain (loss)$591 $(714)$2,275 
Accretion (amortization) on investments2,982 (7,201)(3,082)
Interest income, net45,860 14,730 15,859 
Miscellaneous income572 — 1,147 
Other income, net$50,005 $6,815 $16,199 
v3.23.1
Net Income per Share
 12 Months Ended
Jan. 31, 2023
Earnings Per Share [Abstract]  
Net Income per Share Net Income per Share
Basic net income per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period.
Diluted net income per share is computed by dividing net income by the weighted-average shares outstanding, including potentially dilutive shares of common equivalents outstanding during the period. The dilutive effect of potential shares of common stock are determined using the treasury stock method.
The computation of fully diluted net income per share of Class A common stock assumes the conversion from Class B common stock, while the fully diluted net income per share of Class B common stock does not assume the conversion of those shares.
The numerators and denominators of the basic and diluted net income per share computations for our common stock are calculated as follows (in thousands, except per share data):
Fiscal year ended January 31,
202320222021
Class AClass BClass AClass BClass AClass B
Basic
Numerator
Net income, basic$441,425 $46,281 $386,180 $41,210 $341,866 $38,132 
Denominator
Weighted average shares used in computing net income per share, basic140,640 14,745 138,474 14,777 135,547 15,119 
Net income per share, basic$3.14 $3.14 $2.79 $2.79 $2.52 $2.52 
Diluted
Numerator
Net income, basic$441,425 $46,281 $386,180 $41,210 $341,866 $38,132 
Reallocation as a result of conversion of Class B to Class A common stock:
Net income, basic46,281 — 41,210 — 38,132 — 
Reallocation of net income to Class B common stock— 19,163 — 21,480 — 21,409 
Net income, diluted$487,706 $65,444 $427,390 $62,690 $379,998 $59,541 
Denominator
Number of shares used for basic net income per share computation140,640 14,745 138,474 14,777 135,547 15,119 
Conversion of Class B to Class A common stock14,745 — 14,777 — 15,119 — 
Effect of potentially dilutive common shares7,052 7,052 9,026 9,026 10,066 10,066 
Weighted average shares used in computing net income per share, diluted162,437 21,797 162,277 23,803 160,732 25,185 
Net income per share, diluted$3.00 $3.00 $2.63 $2.63 $2.36 $2.36 
Potential common share equivalents excluded where the inclusion would be anti-dilutive are as follows:
Fiscal year ended January 31,
202320222021
Options and awards3,945,110 958,476 1,045,222 
v3.23.1
Commitments and Contingencies
 12 Months Ended
Jan. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Litigation
IQVIA Litigation Matters
Veeva OpenData and Veeva Network Action.
On January 10, 2017, IQVIA Inc. (formerly Quintiles IMS Incorporated) and IMS Software Services, Ltd. (collectively, “IQVIA”) filed a complaint against us in the U.S. District Court for the District of New Jersey (IQVIA Inc. v. Veeva Systems Inc. (No. 2:17-cv-00177)). In the complaint, IQVIA alleges that we used unauthorized access to proprietary IQVIA data to improve our software and data products and that our software is designed to steal IQVIA trade secrets. IQVIA further alleges that we have intentionally gained unauthorized access to IQVIA proprietary information to gain an unfair advantage in marketing our products and that we have made false statements concerning IQVIA’s conduct and our data security capabilities. IQVIA asserts claims under both federal and state misappropriation of trade secret laws, federal false advertising law, and common law claims for unjust enrichment, tortious interference, and unfair trade practices. The complaint seeks declaratory and injunctive relief and unspecified monetary damages.
On March 13, 2017, we filed our answer denying IQVIA's claims and filed counterclaims. Our counterclaims allege that IQVIA, as the dominant provider of data for life sciences companies, has abused monopoly power to exclude Veeva OpenData and Veeva Network from their respective markets. The counterclaims allege that IQVIA has engaged in various tactics to prevent customers from using our applications and has deliberately raised costs and increased the difficulty of attempting to switch from IQVIA data to our data products. As amended, our counterclaims assert federal and state antitrust claims, as well as claims under California’s Unfair Practices Act and common law claims for intentional interference with contractual relations, intentional interference with prospective economic advantage, and negligent misrepresentation. The counterclaims seek injunctive relief, monetary damages exceeding $200 million, and attorneys’ fees. On October 3, 2018, the court denied IQVIA’s motion to dismiss our antitrust claims.
On February 18, 2020, IQVIA filed a motion for sanctions against Veeva, seeking default judgment and dismissal and, in the alternative, an adverse inference at trial related to discovery disputes. On May 7, 2021, the special master appointed to oversee litigation discovery ruled against IQVIA’s request for default judgment and dismissal and ruled in IQVIA’s favor with respect to certain other matters, including recommending to the trial judge that a permissive adverse inference instruction be issued to the jury with respect to certain documents that were not preserved by Veeva. Should the trial judge accept the recommendation, the jury would be permitted, but not required, to infer that certain evidence not preserved by Veeva would have been unfavorable to Veeva, if the jury first concludes that Veeva controlled the evidence, that the evidence was relevant, and that Veeva should have preserved the evidence. The jury is also likely to be instructed that it may also consider whether the non-preserved evidence was duplicative of other evidence produced by Veeva and whether Veeva’s conduct was reasonable in light of all circumstances. Veeva was also ordered to pay IQVIA’s fees and expenses incurred in connection with portions of its sanctions motion. On June 4, 2021, we appealed the special master’s ruling and IQVIA’s fee award to the federal district court judge.
Fact discovery is largely complete and we expect to complete expert discovery in July 2023. While it is not possible at this time to predict with any degree of certainty the ultimate outcome of this action, and we are unable to make a meaningful estimate of the amount or range of gain or loss, if any, that could result from the OpenData and Network Action, we believe that IQVIA’s claims lack merit and that our counterclaims warrant injunctive relief and monetary damages for Veeva.
Veeva Nitro Action.
On July 17, 2019, IQVIA filed a lawsuit in the U.S. District Court for the District of New Jersey (IQVIA Inc. v. Veeva Systems Inc. (No. 2:19-cv-15517)) (IQVIA Declaratory Action) seeking a declaratory judgment that IQVIA is not liable to Veeva for disallowing use of IQVIA’s data products in Veeva Nitro or any later-introduced Veeva software products. The IQVIA Declaratory Action does not seek any monetary relief.
On July 18, 2019, we filed a lawsuit against IQVIA in the U.S. District Court for the Northern District of California (Veeva Systems Inc. v. IQVIA Inc. (No. 3:19-cv-04137)) (Veeva Nitro Action), alleging that IQVIA engaged in anticompetitive conduct as to Veeva Nitro. Our complaint asserts federal and state antitrust claims, as well as claims under California’s Unfair Competition Law and common law claims for intentional interference with contractual relations and intentional interference with prospective economic advantage. The complaint seeks injunctive relief and monetary damages. IQVIA filed its answer and affirmative defenses on September 5, 2019.
On September 26, 2019, the Northern District of California transferred the Veeva Nitro Action to the District of New Jersey (Veeva Systems Inc. v. IQVIA Inc. (No. 2:19-cv-18558)).
On March 24, 2020, we amended our complaint in the Veeva Nitro Action to include allegations of IQVIA’s anticompetitive conduct as to additional Veeva software applications, such as Veeva Andi, Veeva Align, and Veeva Vault MedComms; additional examples of IQVIA’s monopolistic behavior against Veeva Nitro; IQVIA’s unlawful access of Veeva’s proprietary software products; and a request for declaratory relief. IQVIA answered the amended complaint on May 22, 2020.
On August 21, 2020, the District of New Jersey consolidated the Veeva Nitro Action and IQVIA Declaratory Action. Fact discovery is largely complete and we expect to complete expert discovery in July 2023.
While it is not possible at this time to predict with any degree of certainty the ultimate outcome of this action, we believe that our claims warrant injunctive and declaratory relief and monetary damages for Veeva and against IQVIA.
Fee Arrangements Related to the IQVIA Litigation Matters. We have entered into partial contingency fee arrangements with certain law firms representing us in the IQVIA litigations. Pursuant to those arrangements, such law firms are entitled to an agreed portion of any damages we recover from IQVIA or may be entitled to payment of success fees from us based on the achievement of certain outcomes. While it is reasonably possible that we may incur such success fees, we are unable to make an estimate of any such liability and have not accrued any liability related to success fees at this time.
Medidata Litigation Matter
On January 26, 2017, Medidata Solutions, Inc. filed a complaint in the U.S. District Court for the Southern District of New York (Medidata Solutions, Inc. v. Veeva Systems Inc. et al. (No. 1:17-cv-00589)) against us and five individual Veeva employees who previously worked for Medidata (“Individual Employees”). The complaint alleged that we induced and conspired with the Individual Employees to breach their employment agreements, including non-compete and confidentiality provisions, and to misappropriate Medidata’s confidential and trade secret information. The complaint sought declaratory and injunctive relief, unspecified monetary damages, and attorneys’ fees. Medidata amended its complaint twice, asserting the same claims with additional factual allegations, and voluntarily dismissed the Individual Defendants without prejudice. The trial began on July 11, 2022. On July 15, 2022, after four days of jury trial, the court granted Veeva’s motion for judgment as a matter of law, thereby resolving the case in favor of Veeva. Medidata moved for reconsideration of the decision on July 29, 2022, which was denied by the court on August 18, 2022. Medidata filed an appeal in the Second Circuit Court of Appeals on January 3, 2023. While it is not possible at this time to predict with any degree of certainty the ultimate outcome of this appeal, and we are unable to make a meaningful estimate of the amount or range of loss, if any, that could result from any unfavorable outcome, we believe that Medidata’s appeal lacks merit and we plan to oppose the appeal.
Mednet Litigation Matter
On July 14, 2020, Mednet Solutions, Inc. filed a complaint in Minnesota state court (Mednet Solutions, Inc. v. Veeva Systems Inc. (No. 27-CV-20-9374)) against us and a Veeva employee who previously worked for Mednet. The complaint alleged that the employee improperly accessed Mednet’s computer systems after joining Veeva, in violation of his employment agreement to misappropriate Mednet’s confidential and trade secret information for our benefit. The complaint sought declaratory and injunctive relief, unspecified monetary damages, and attorneys’ fees.
On December 9, 2020, the case was removed to the U.S. District Court for the District of Minnesota (No. 20-cv-2502). The complaint has been amended twice to include additional factual allegations, a claim against the employee under the federal Computer Fraud and Abuse Act, and direct claims against us for misappropriation. The matter is currently in the discovery phase of litigation, with a trial set for early 2024.
While it is not possible at this time to predict with any degree of certainty the ultimate outcome of this litigation, and we are unable to make a meaningful estimate of the amount or range of loss, if any, that could result from any unfavorable outcome, we believe that Mednet’s claims lack merit.
Other Litigation Matters
From time to time, we may be involved in other legal proceedings and subject to claims incident to the ordinary course of business. Although the results of such legal proceedings and claims cannot be predicted with certainty, we believe we are not currently a party to any other legal proceedings, the outcome of which, if determined adversely to us, would individually or taken together have a material adverse effect on our business, operating results, cash flows or financial position. Regardless of the outcome, such proceedings can have an adverse impact on us because of defense and settlement costs, diversion of resources and other factors, and there can be no assurances that favorable outcomes will be obtained.
v3.23.1
Revenues by Product
 12 Months Ended
Jan. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenues by Product Revenues by Product
We group our revenues into two product areas: Commercial Solutions and R&D Solutions. Commercial Solutions revenues consist of revenues from our Veeva Commercial Cloud and Veeva Claims solutions. R&D Solutions consist of revenues from our Veeva Development Cloud, Veeva RegulatoryOne, and Veeva QualityOne solutions.
Total revenues consist of the following (in thousands):
Fiscal year ended January 31,
202320222021
Subscription services
Commercial Solutions$946,252 $876,458 $744,856 
R&D Solutions786,750 607,518 434,630 
Total subscription services1,733,002 1,483,976 1,179,486 
Professional services
Commercial Solutions177,188 165,086 142,003 
R&D Solutions244,870 201,715 143,580 
Total professional services422,058 366,801 285,583 
Total revenues$2,155,060 $1,850,777 $1,465,069 
v3.23.1
Information about Geographic Areas
 12 Months Ended
Jan. 31, 2023
Segment Reporting [Abstract]  
Information about Geographic Areas Information about Geographic Areas
We track and allocate revenues by principal geographic area rather than by individual country, which makes it impractical to disclose revenues for the United States or other specific foreign countries. We measure subscription services revenue primarily by the estimated location of the end users in each geographic area for our Commercial Solutions and primarily by the estimated location of usage in each geographic area for our R&D Solutions. We measure professional services revenue primarily by the location of the resources performing the professional services.
Total revenues by geographic area were as follows for the periods shown below (in thousands):
Fiscal year ended January 31,
202320222021
Revenues by geography
North America$1,253,760 $1,063,770 $838,192 
Europe598,828 509,127 400,790 
Asia Pacific244,655 225,968 183,848 
Middle East, Africa, and Latin America57,817 51,912 42,239 
Total revenues$2,155,060 $1,850,777 $1,465,069 
Long-lived assets by geographic area are as follows as of the periods shown below (in thousands):
January 31,
20232022
Long-lived assets by geography
North America$42,003 $45,625 
Europe5,336 6,135 
Asia Pacific963 1,335 
Middle East, Africa, and Latin America1,515 1,400 
Total long-lived assets$49,817 $54,495 
v3.23.1
401(k) Plan
 12 Months Ended
Jan. 31, 2023
Retirement Benefits [Abstract]  
401(k) Plan 401(k) PlanWe have a qualified defined contribution plan under Section 401(k) of the Internal Revenue Code covering eligible employees as well as a Registered Retirement Savings Plan (RRSP) for eligible employees in Canada. Under the 401(k) plan, we match up to $2,000 per employee per year. Under the RRSP plan, we also match up to $2,000 per employee per year. For the fiscal years ended January 31, 2023, 2022, and 2021, total expense related to these plans was $8 million, $7 million, and $6 million, respectively.
v3.23.1
Summary of Business and Significant Accounting Policies (Policies)
 12 Months Ended
Jan. 31, 2023
Accounting Policies [Abstract]  
Description of Business
Description of Business
Veeva is the leading provider of industry cloud solutions for the global life sciences industry. Our offerings span cloud software, data, analytics, professional services, and business consulting and are designed to meet the unique needs of our customers and their most strategic business functions—from research and development (R&D) to commercialization. Our solutions help life sciences companies develop and bring products to market faster and more efficiently, market and sell more effectively, and maintain compliance with government regulations. Our Commercial Solutions help life sciences companies achieve better, more intelligent engagement with healthcare professionals and healthcare organizations across multiple communication channels, and plan and execute more effective media and marketing campaigns. Our R&D Solutions for the clinical, quality, regulatory, and safety functions help life sciences companies streamline their end-to-end product development processes to increase operational efficiency and maintain regulatory compliance throughout the product life cycle. We also bring the benefits of our content and data management solutions to a set of customers outside of life sciences in the consumer product and chemical industries. Our fiscal year end is January 31.
Principles of Consolidation and Basis of Presentation
Principles of Consolidation and Basis of Presentation
These consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding annual financial reporting and include the accounts of our wholly-owned subsidiaries after elimination of intercompany accounts and transactions.
Use of Estimates
Use of Estimates
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:
•the standalone selling price for each distinct performance obligation included in customer contracts with multiple performance obligations;
•the determination of the period of benefit for amortization of deferred costs;
•the realizability of deferred income tax assets;
•the fair value of our stock-based awards.
As future events cannot be determined with precision, actual results could differ significantly from those estimates.
Segment Information
Segment Information
Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assessing performance. We define the term “chief operating decision maker” to be our Chief Executive Officer. Our Chief Executive Officer reviews the financial information presented on a consolidated basis for purposes of allocating resources and evaluating our financial performance. Accordingly, we have determined that we operate in a single operating and reportable segment. Since we operate in one operating segment, all required financial segment information can be found in the consolidated financial statements.
Revenue Recognition
Revenue Recognition
We derive our revenues primarily from subscription services and professional services. Subscription services revenues consist of fees from customers accessing our cloud-based software solutions and fees for our data solutions. Professional services and other revenues consist primarily of fees from implementation services, configuration, data services, business consulting, training, and managed services related to our solutions. Revenues are recognized when control of these services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those services.
We determine revenue recognition through the following steps:
•Identification of the contract, or contracts, with a customer;
•Identification of the performance obligations in the contract;
•Determination of the transaction price;
•Allocation of the transaction price to the performance obligations in the contract; and
•Recognition of revenue when, or as, we satisfy a performance obligation.
Our subscription services agreements are generally non-cancellable during the term, although customers typically have the right to terminate their agreements for cause in the event of material breach.
Subscription Services Revenues
Subscription services revenues are recognized ratably over the respective non-cancellable subscription term because of the continuous transfer of control to the customer. Our subscription arrangements are considered service contracts, and the customer does not have the right to take possession of the software.
Professional Services and Other Revenues
The majority of our professional services arrangements are billed on a time and materials basis and revenues are recognized over time based on time incurred and contractually agreed upon rates. Certain professional services revenues are billed on a fixed fee basis and revenues are typically recognized over time as the services are delivered based on time incurred. Data services and training revenues are generally recognized as the services are performed.
Contracts with Multiple Performance Obligations
Some of our contracts with customers contain multiple performance obligations. For these contracts, we account for individual performance obligations separately when they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. We determine the standalone selling prices based on our overall pricing objectives, taking into consideration market conditions and other factors, including other groupings such as customer type and geography.
Deferred Costs
Deferred Costs
Deferred costs represents sales commissions associated with obtaining a contract with a customer. These costs are deferred and then amortized over a period of benefit that we have determined to be one to three years. We determined the period of benefit by taking into consideration the expected renewal period of our customer contracts, our technology and other factors. Amortization expense is included in sales and marketing expenses in the accompanying consolidated statements of comprehensive income.
Certain Risks and Concentrations of Credit Risk
Certain Risks and Concentrations of Credit Risk
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.
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.
We do not require collateral from our customers and generally require payment within 30 days to 60 days of billing.
Cash Equivalents
Cash Equivalents
We consider all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.
Short-term Investments
Short-term Investments
Our short-term investments are classified as available-for-sale and recorded at estimated fair value. Unrealized gains and losses for available-for-sale securities are included in accumulated other comprehensive income, a component of stockholders’ equity. We evaluate our investments to assess whether those with unrealized loss positions are other than temporarily impaired. We consider impairments to be other than temporary if they are related to deterioration in credit risk or if it is likely we will sell the securities before the recovery of their cost basis. Realized gains and losses and declines in value judged to be other than temporary are determined based on the specific identification method and are reported in other income, net, in the consolidated statements of comprehensive income. Interest, amortization of premiums, and accretion of discount on all short-term investments are also included as a component of other income, net, in the consolidated statements of comprehensive income.
We may sell our short-term investments at any time, without significant penalty, for use in current operations or for other purposes, even if they have not yet reached maturity. As a result, we classify our investments, including securities with maturities beyond 12 months, as current assets in the accompanying consolidated balance sheets.
Accounts Receivable and Allowance for Doubtful Accounts
Accounts Receivable and Allowance for Doubtful Accounts
Accounts receivable are recorded at the invoiced amount, net of allowance for doubtful accounts.
Property and Equipment Property and EquipmentProperty and equipment is stated at cost less accumulated depreciation. Depreciation is calculated on the straight-line method over the estimated useful lives of the assets and commences once the asset is placed in service or ready for its intended use. Land is not depreciated.
Leases
Leases
We have operating leases for corporate offices. Additionally, we are the sublessor for certain office space.
We recognize lease right-of-use assets and liabilities at the commencement date based on the present value of lease payments over the lease term. We use an estimate of our discount rate based on the information available at the lease commencement date in determining the present value of lease payments, unless the implicit rate is readily determinable. The lease right-of-use assets also include any lease payments made and exclude lease incentives such as tenant improvement allowances. Options to extend or terminate the lease are included in the lease term when it is reasonably certain that we will exercise the extension or termination option.
Our operating leases typically include non-lease components such as common-area maintenance costs. We have elected to exclude non-lease components from lease payments for the purpose of calculating lease right-of-use assets and liabilities and these variable lease payments are expensed as incurred.
Leases with a term of one year or less are not recognized on our consolidated balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term.
Internal-Use Software
Internal-Use Software
We capitalize certain costs incurred for the development of computer software for internal use. We capitalize these costs during the development of the software project, when it is determined that it is probable that the project will be completed and the software will be used as intended. Costs related to preliminary project activities, post-implementation activities, training, and maintenance are expensed as incurred. Internal-use software is amortized on a straight-line basis over its estimated useful life of three years, and the amortization expense is recorded as a component of cost of subscription services. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets.
Goodwill and Intangible Assets
Goodwill and Intangible Assets
Goodwill is evaluated for impairment at least annually or more frequently if circumstances indicate that goodwill may be impaired. A qualitative assessment is performed to determine whether it is more likely than not that the fair value of its reporting unit is less than its carrying amount. If the reporting unit does not pass the qualitative assessment, the carrying amount of the reporting unit, including goodwill, is compared to fair value and goodwill is considered impaired if the carrying value of the reporting unit exceeds its fair value. Any excess of the carrying value of the goodwill above its fair value is recognized as an impairment loss.
We have one reporting unit and evaluate goodwill for impairment at the entity level. We completed our annual impairment test in our fourth quarter of the fiscal year ended January 31, 2023. There was no goodwill impairment during the years ended January 31, 2023, 2022 and 2021.
Intangible assets associated with purchased intangibles, consisting of existing technology, customer relationships, trade names and trademarks, and data supplier and partner relationships are stated at cost less accumulated amortization and are amortized on a straight-line basis over their estimated remaining economic lives. Amortization expense related to existing technology and data supplier and partner relationships are included in cost of subscription services. Amortization expense related to customer relationships and trade names and trademarks are included in sales and marketing expense.
Long-Lived Assets
Long-Lived Assets
Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, we first compare undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. There were no impairment charges recognized during any of the periods presented.
Business Combinations
Business Combinations
The purchase price in a business combination is assigned to the estimated acquisition date fair values of the tangible and intangible assets acquired and the liabilities assumed with the residual recorded as goodwill. Critical estimates in valuing certain of the intangible assets include, but are not limited to, the net present value of future
expected cash flows, future revenue growth, margins, customer retention rates, technology life, royalty rates, expected use of acquired assets, and discount rates.
Stock-based Compensation
Stock-based Compensation
We recognize compensation expense for all stock-based awards, including stock options and restricted stock units (RSUs), based on the estimate of fair value of the award at the grant date. The fair value of each option award is estimated on the grant date using either a Black-Scholes option-pricing model or a Monte Carlo simulation, to the extent market conditions exist, and a single option award approach. These models require that at the date of grant we determine the fair value of the underlying common stock, the expected term of the award, the expected volatility of the price of our common stock, risk-free interest rates, and expected dividend yield of our common stock. The fair value of each RSU award is measured based on the closing stock price of our common stock on the date of grant. We account for forfeitures as they occur. The compensation expense is recognized using a straight-line basis over the requisite service periods of the awards, which is one to five years for RSUs and four to eight years for stock options.
Cost of Revenues
Cost of Revenues
Cost of subscription services revenues consists of expenses related to our computing infrastructure provided by third parties, including Salesforce, Inc. and Amazon Web Services, personnel-related costs associated with hosting our subscription services and providing support including our data stewards, data acquisition, and third-party contractor costs related to the development of our data products, allocated overhead, amortization expense associated with capitalized internal-use software, and amortization expense associated with purchased intangibles related to our subscription services. Cost of subscription services revenues for Veeva CRM and certain of our multichannel customer relationship management applications include fees paid to Salesforce, Inc. for our use of the Salesforce platform and the associated hosting infrastructure and data center operations that are provided by Salesforce, Inc.
Cost of professional services and other revenues consists primarily of employee-related expenses associated with providing these services, including salaries, benefits and stock-based compensation expense, the cost of third-party subcontractors, travel costs, and allocated overhead.
Advertising Expenses
Advertising Expenses
Advertising expenditures are expensed as incurred and were immaterial for each of the years presented.
Income Taxes
Income Taxes
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
We regularly assess the realizability of our deferred tax assets and establish a valuation allowance if it is more likely than not that some or all of our deferred tax assets will not be realized. We evaluate and weigh all available positive and negative evidence such as historic results, future reversals of existing deferred tax liabilities, projected future taxable income, as well as prudent and feasible tax-planning strategies. Generally, more weight is given to objectively verifiable evidence such as the cumulative income in recent years.
We establish liabilities or reduce assets for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining whether the weight of available evidence indicates that it is more likely than not that the position will be sustained upon an audit, including resolution of related appeals or litigation processes, if any. The second step requires us to measure the tax benefit as the largest amount that is more likely than not to be realized upon ultimate settlement. We recognize interest accrued and penalties related to unrecognized tax benefits as a component of provision for income taxes.
Foreign Currency Exchange
Foreign Currency Exchange
Adjustments resulting from translating financial statements for those entities that do not have U.S. dollars as their functional currency are recorded as part of a separate component of the consolidated statements of comprehensive income. All assets and liabilities denominated in currencies other than U.S. dollars are translated into the U.S. dollar functional currency at the exchange rate on the balance sheet date. Revenues and expenses are translated at the average exchange rate during the period. Equity transactions are translated using historical exchange rates. Foreign currency transaction gains and losses are included in the consolidated statements of comprehensive income for the period.
Indemnification
Indemnification
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.
Loss Contingencies
Loss Contingencies
Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred.
Fair Value Measurements
Financial assets and liabilities recorded at fair value in the consolidated financial statements are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels, which are directly related to the amount of subjectivity associated with the inputs to the valuation of these assets or liabilities are as follows:
Level 1—Observable inputs, such as quoted prices in active markets for identical assets or liabilities.
Level 2—Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
Financial assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires management to make judgments and considers factors specific to the asset or liability.
Net Income per Share Attributable to Common Stockholders
Basic net income per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period.
Diluted net income per share is computed by dividing net income by the weighted-average shares outstanding, including potentially dilutive shares of common equivalents outstanding during the period. The dilutive effect of potential shares of common stock are determined using the treasury stock method.
The computation of fully diluted net income per share of Class A common stock assumes the conversion from Class B common stock, while the fully diluted net income per share of Class B common stock does not assume the conversion of those shares.
v3.23.1
Summary of Business and Significant Accounting Policies (Tables)
 12 Months Ended
Jan. 31, 2023
Accounting Policies [Abstract]  
Schedule of Certain Risks and Concentrations of Credit Risk
The following customers individually exceeded 10% of total accounts receivable as of the dates shown:
January 31,
20232022
Customer 111%10%
Customer 211%10%
Schedule of Estimated Useful Lives of Property and Equipment The estimated useful lives by asset classification are as follows:
Building30 years
Building improvementsRemaining useful life of the building
Equipment and computers3 years
Furniture and fixtures5 years
Land improvements10 years
Leasehold improvementsShorter of remaining life of the lease term or estimated useful life
Property and equipment, net consists of the following as of the dates shown (in thousands):
January 31,
20232022
Land$3,040 $3,040 
Building20,984 20,984 
Land improvements and building improvements22,392 22,392 
Equipment and computers2,233 3,581 
Furniture and fixtures13,995 15,040 
Leasehold improvements18,986 19,002 
Construction in progress302 730 
81,932 84,769 
Less accumulated depreciation(32,115)(30,274)
Total property and equipment, net$49,817 $54,495 
v3.23.1
Short-Term Investments (Tables)
 12 Months Ended
Jan. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Short-Term Investments
As of January 31, 2023, short-term investments consisted of the following (in thousands):
Amortized
cost
Gross
unrealized
gains
Gross
unrealized
losses
Estimated
fair
value
Available-for-sale securities:
Certificates of deposits$37,998 $31 $(66)$37,963 
Asset-backed securities448,081 585 (5,708)442,958 
Commercial paper155,097 8 (580)154,525 
Corporate notes and bonds1,224,195 1,649 (17,880)1,207,964 
Foreign government bonds24,654 13 (516)24,151 
U.S. agency obligations32,995 4 (594)32,405 
U.S. treasury securities321,946 265 (6,014)316,197 
Total available-for-sale securities$2,244,966 $2,555 $(31,358)$2,216,163 
As of January 31, 2022, short-term investments consisted of the following (in thousands):
Amortized
cost
Gross
unrealized
gains
Gross
unrealized
losses
Estimated
fair
value
Available-for-sale securities:
Certificates of deposits$13,500 $— $(15)$13,485 
Asset-backed securities191,676 45 (1,432)190,289 
Commercial paper29,432 — (2)29,430 
Corporate notes and bonds669,489 276 (5,856)663,909 
Foreign government bonds24,577 13 (179)24,411 
U.S. agency obligations27,978 12 (254)27,736 
U.S. treasury securities290,513 46 (1,755)288,804 
Total available-for-sale securities$1,247,165 $392 $(9,493)$1,238,064 
Schedule of Estimated Fair Value of Short-Term Investments, Designated as Available-for-Sale and Classified by Contractual Maturity
The following table summarizes the estimated fair value of our short-term investments, designated as available-for-sale and classified by the contractual maturity date of the securities as of the dates shown (in thousands):
January 31,
20232022
Due in one year or less$849,673 $457,948 
Due in greater than one year1,366,490 780,116 
Total $2,216,163 $1,238,064 
Schedule of Fair Values and Gross Unrealized Loss Position of Available-for-Sale Securities Aggregated by Investment Category
The following table shows the fair values of available-for-sale securities which were in an unrealized loss position, aggregated by investment category, as of January 31, 2023 (in thousands):
12 months or lessGreater than 12 months
Fair
value
Gross
unrealized
losses
Fair
value		Gross
unrealized
losses
Certificates of deposits$15,934 $(66)$— $— 
Asset-backed securities293,854 (3,219)78,279 (2,489)
Commercial paper144,741 (580)— — 
Corporate notes and bonds604,264 (6,801)370,969 (11,079)
Foreign government bonds11,284 (126)11,827 (390)
U.S. agency obligations4,941 (61)24,461 (533)
U.S. treasury securities210,246 (3,661)63,422 (2,353)
The following table shows the fair values of available-for-sale securities which were in an unrealized loss position, aggregated by investment category, as of January 31, 2022 (in thousands):
Less than 12 months
Fair
value
Gross
unrealized
losses
Certificates of deposits$5,985 $(15)
Asset-backed securities177,056 (1,432)
Commercial paper17,190 (2)
Corporate notes and bonds571,099 (5,856)
Foreign government bonds19,594 (179)
U.S. agency obligations24,725 (254)
U.S. treasury securities247,509 (1,756)
v3.23.1
Property and Equipment, Net (Tables)
 12 Months Ended
Jan. 31, 2023
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment, Net The estimated useful lives by asset classification are as follows:
Building30 years
Building improvementsRemaining useful life of the building
Equipment and computers3 years
Furniture and fixtures5 years
Land improvements10 years
Leasehold improvementsShorter of remaining life of the lease term or estimated useful life
Property and equipment, net consists of the following as of the dates shown (in thousands):
January 31,
20232022
Land$3,040 $3,040 
Building20,984 20,984 
Land improvements and building improvements22,392 22,392 
Equipment and computers2,233 3,581 
Furniture and fixtures13,995 15,040 
Leasehold improvements18,986 19,002 
Construction in progress302 730 
81,932 84,769 
Less accumulated depreciation(32,115)(30,274)
Total property and equipment, net$49,817 $54,495 
v3.23.1
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Jan. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Schedule of Details of Intangible Assets
The following schedule presents the details of intangible assets as of January 31, 2023 (dollar amounts in thousands):
January 31, 2023
Gross
carrying
amount
Accumulated
amortization
Net
Remaining
useful life
(in years)
Existing technology$28,580 $(16,418)$12,162 2.9
Customer relationships113,157 (50,293)62,864 6.1
Trade name and trademarks13,900 (9,285)4,615 1.8
Other intangibles21,405 (18,570)2,835 3.0
Total intangible assets$177,042 $(94,566)$82,476 
The following schedule presents the details of intangible assets as of January 31, 2022 (dollar amounts in thousands):
January 31, 2022
Gross
carrying
amount		Accumulated
amortization		NetRemaining
useful life
(in years)
Existing technology$28,580 $(12,187)$16,393 3.9
Customer relationships113,157 (38,829)74,328 7.0
Trade name and trademarks13,900 (6,645)7,255 2.8
Other intangibles21,405 (17,441)3,964 3.8
Total intangible assets$177,042 $(75,102)$101,940 
Schedule of Estimated Amortization Expense
As of January 31, 2023, the estimated amortization expense for intangible assets, for the next five years and thereafter is as follows (in thousands):
Fiscal 2024$19,460 
Fiscal 202518,557 
Fiscal 202614,147 
Fiscal 20278,922 
Fiscal 20287,778 
Thereafter13,612 
Total$82,476 
v3.23.1
Accrued Expenses (Tables)
 12 Months Ended
Jan. 31, 2023
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses
Accrued expenses consisted of the following as of the dates shown (in thousands):
January 31,
20232022
Accrued commissions$11,240 $8,556 
Accrued bonus3,484 4,677 
Accrued vacation(1)
6,653 5,546 
Payroll tax payable16,229 9,487 
Accrued other compensation and benefits6,676 5,568 
Total accrued compensation and benefits$44,282 $33,834 
Accrued fees payable to Salesforce, Inc.$6,653 $6,521 
Taxes payable9,197 9,743 
Accrued third-party professional services subcontractors' fees2,597 1,961 
Other accrued expenses16,859 17,884 
Total accrued expenses and other current liabilities$35,306 $36,109 
(1) Represents accrued vacation primarily for international employees. Vacation does not accrue for most U.S. employees.
v3.23.1
Fair Value Measurements (Tables)
 12 Months Ended
Jan. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value on Recurring Basis
The following table presents the fair value hierarchy for financial assets measured at fair value on a recurring basis as of January 31, 2023 (in thousands):
Level 1
Level 2
Total
Assets
Cash equivalents:
Money market funds$180,895 $— $180,895 
U.S. Treasury securities— 22,929 22,929 
Corporate notes and bonds— 6,691 6,691 
Short-term investments:
Certificates of deposits— 37,963 37,963 
Asset-backed securities— 442,958 442,958 
Commercial paper— 154,525 154,525 
Corporate notes and bonds— 1,207,964 1,207,964 
Foreign government bonds— 24,151 24,151 
U.S. agency obligations— 32,405 32,405 
U.S. Treasury securities— 316,197 316,197 
Foreign currency derivative contracts— 251 251 
Total financial assets$180,895 $2,246,034 $2,426,929 
The following table presents the fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis as of January 31, 2022 (in thousands):
Level 1
Level 2
Total
Assets
Cash equivalents:
Money market funds$428,411 $— $428,411 
Corporate notes and bonds— 5,853 5,853 
Asset-backed securities— 2,568 2,568 
Short-term investments:
Certificates of deposits— 13,485 13,485 
Asset-backed securities— 190,289 190,289 
Commercial paper— 29,430 29,430 
Corporate notes and bonds— 663,909 663,909 
Foreign government bonds— 24,411 24,411 
U.S. agency obligations— 27,736 27,736 
U.S. Treasury securities— 288,804 288,804 
Foreign currency derivative contracts— 1,222 1,222 
Total financial assets$428,411 $1,247,707 $1,676,118 
Schedule of Fair Value of Outstanding Derivative Instruments
The fair value of our outstanding derivative instruments is summarized below (in thousands): 
January 31,
20232022
Notional amount of foreign currency derivative contracts$137,998 $87,097 
Fair value of foreign currency derivative contracts$137,860 $85,876 
v3.23.1
Income Taxes (Tables)
 12 Months Ended
Jan. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of Components of Income before Income Taxes
The components of income before income taxes by U.S. and foreign jurisdictions were as follows for the periods shown (in thousands):
Fiscal year ended January 31,
202320222021
United States$482,885 $487,962 $378,042 
Foreign26,211 24,349 15,951 
Total$509,096 $512,311 $393,993 
Schedule of Components of Provision for Income Taxes
Provision for income taxes consisted of the following for the periods shown (in thousands):
Fiscal year ended January 31,
202320222021
Current provision:
Federal$110,610 $53,426 $7,108 
State29,775 12,580 4,763 
Foreign8,507 7,837 2,825 
Total current provision148,892 73,843 14,696 
Deferred (benefit) provision:
Federal(98,923)1,870 (816)
State(20,755)945 681 
Foreign(7,824)8,264 (566)
Total deferred (benefit) provision(127,502)11,079 (701)
Provision for income taxes$21,390 $84,921 $13,995 
Schedule of Reconciliation of Statutory Federal Income Tax to Effective Tax
Provision for income taxes differed from the amount computed by applying the federal statutory income tax rate of 21% for each of the fiscal years ended January 31, 2023, 2022, and 2021 to income before income taxes as a result of the following for the periods shown (in thousands):
Fiscal year ended January 31,
202320222021
Federal tax statutory tax rate$106,910 $107,585 $82,739 
State taxes7,318 11,035 4,401 
Tax credits(33,463)(25,968)(24,617)
Stock-based compensation(52,304)(29,715)(54,488)
Valuation allowance5,654 19,402 10,269 
Foreign derived intangible income deduction (FDII)(15,811)(3,406)(5,134)
Other3,086 5,988 825 
Provision for income taxes$21,390 $84,921 $13,995 
Schedule of Components of Deferred Tax Assets and Liabilities
The tax effects of temporary differences that give rise to significant portions of our deferred tax assets and liabilities related to the following (in thousands):
January 31,
20232022
Deferred tax assets:
Accruals and reserves$13,137 $7,068 
Capitalized expenditures123,746 10,477 
Stock-based compensation32,536 16,615 
Net operating loss carryforward12,245 21,850 
Tax credit carryforward43,732 34,725 
Lease liabilities15,724 13,813 
Other7,890 2,955 
Gross deferred tax assets249,010 107,503 
Valuation allowance(51,685)(48,484)
Total deferred tax assets197,325 59,019 
Deferred tax liabilities:
Intangible assets(28,799)(31,200)
Lease right-of-use assets(14,192)(12,497)
Deferred costs(12,949)(10,552)
Other(6,180)(1,889)
Total deferred tax liabilities(62,120)(56,138)
Net deferred tax assets$135,205 $2,881 
Schedule of Changes in Total Gross Amount of Unrecognized Tax Benefits The aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows for the periods shown (in thousands):
Fiscal year ended January 31,
202320222021
Beginning balance$25,241 $18,628 $14,515 
Increases related to tax positions taken during the prior period971 3,218 96 
Increases related to tax positions taken during the current period4,934 4,122 4,126 
Decreases related to tax positions taken during the prior period(137)— (51)
Audit settlements— (195)— 
Lapse of statute of limitations(296)(532)(58)
Ending balance$30,713 $25,241 $18,628 
v3.23.1
Leases (Tables)
 12 Months Ended
Jan. 31, 2023
Leases [Abstract]  
Schedule of Supplemental Cash Flow Information Related to Leases
Supplemental cash flow information related to leases was as follows (in thousands):
Fiscal year ended January 31,
20232022
Cash paid for operating lease liabilities$12,908 $13,800 
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities$14,488 $3,848 
Schedule of Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to operating leases was as follows (in thousands, except lease term and discount rate):
January 31,
20232022
Weighted Average Remaining Lease Term6.7 years6.0 years
Weighted Average Discount Rate4.2 %3.7 %
Schedule of Maturity of Operating Lease Liabilities
As of January 31, 2023, remaining maturities of operating lease liabilities are as follows (in thousands):
Fiscal 2024$8,964 
Fiscal 202511,986 
Fiscal 20269,964 
Fiscal 20278,895 
Fiscal 20288,395 
Thereafter24,259 
Total operating lease payments72,463 
Less imputed interest11,487 
Total operating lease liabilities$60,976 
v3.23.1
Stockholders' Equity (Tables)
 12 Months Ended
Jan. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity A summary of stock option activity for the fiscal year ended January 31, 2023 is as follows: 
Number
of shares
Weighted
average
exercise
price
Weighted
average
remaining
contractual
term (in years)
Aggregate
intrinsic
value
(in millions)
Options outstanding at January 31, 202212,090,522 $77.89 4.6$1,964 
Options granted3,267,206 205.48 
Options exercised(3,421,303)12.74 
Options forfeited/cancelled(433,016)209.53 
Options outstanding at January 31, 202311,503,409 $128.62 5.9$705 
Options vested and exercisable at January 31, 20235,370,570 $74.10 3.9$549 
Options vested and exercisable at January 31, 2023 and expected to vest thereafter11,503,409 $128.62 5.9$705 
Schedule of Weighted-Average Assumptions Used to Estimate Grant Date Fair Value of Options Granted
The following table presents the weighted-average assumptions used to estimate the grant date fair value of options granted during the periods presented:
Fiscal year ended January 31,
202320222021
Volatility37%-40%37%-39%39%-42%
Expected term (in years)6.00-7.006.256.25-7.25
Risk-free interest rate1.90%-4.20%0.70%-1.60%0.33%-1.43%
Dividend yield—%—%—%
Schedule of Restricted Stock Unit (RSU) Activity A summary of RSU activity for the fiscal year ended January 31, 2023 is as follows:
Unreleased restricted
stock units
Weighted 
average grant
date fair value
Balance at January 31, 2022619,388 $175.23 
RSUs granted1,548,166 204.88 
RSUs vested(968,004)198.24 
RSUs forfeited / cancelled(95,871)200.97 
Balance at January 31, 20231,103,679 194.36 
v3.23.1
Other Income (Tables)
 12 Months Ended
Jan. 31, 2023
Other Income and Expenses [Abstract]  
Schedule of Other Income
Other income, net, consisted of the following (in thousands):
Fiscal year ended January 31,
202320222021
Foreign currency gain (loss)$591 $(714)$2,275 
Accretion (amortization) on investments2,982 (7,201)(3,082)
Interest income, net45,860 14,730 15,859 
Miscellaneous income572 — 1,147 
Other income, net$50,005 $6,815 $16,199 
v3.23.1
Net Income per Share (Tables)
 12 Months Ended
Jan. 31, 2023
Earnings Per Share [Abstract]  
Schedule of Numerators and Denominators of the Basic and Diluted EPS Computations for Common Stock
The numerators and denominators of the basic and diluted net income per share computations for our common stock are calculated as follows (in thousands, except per share data):
Fiscal year ended January 31,
202320222021
Class AClass BClass AClass BClass AClass B
Basic
Numerator
Net income, basic$441,425 $46,281 $386,180 $41,210 $341,866 $38,132 
Denominator
Weighted average shares used in computing net income per share, basic140,640 14,745 138,474 14,777 135,547 15,119 
Net income per share, basic$3.14 $3.14 $2.79 $2.79 $2.52 $2.52 
Diluted
Numerator
Net income, basic$441,425 $46,281 $386,180 $41,210 $341,866 $38,132 
Reallocation as a result of conversion of Class B to Class A common stock:
Net income, basic46,281 — 41,210 — 38,132 — 
Reallocation of net income to Class B common stock— 19,163 — 21,480 — 21,409 
Net income, diluted$487,706 $65,444 $427,390 $62,690 $379,998 $59,541 
Denominator
Number of shares used for basic net income per share computation140,640 14,745 138,474 14,777 135,547 15,119 
Conversion of Class B to Class A common stock14,745 — 14,777 — 15,119 — 
Effect of potentially dilutive common shares7,052 7,052 9,026 9,026 10,066 10,066 
Weighted average shares used in computing net income per share, diluted162,437 21,797 162,277 23,803 160,732 25,185 
Net income per share, diluted$3.00 $3.00 $2.63 $2.63 $2.36 $2.36 
Schedule of Potential Common Share Equivalents Excluded where the Inclusion would be Anti-dilutive
Potential common share equivalents excluded where the inclusion would be anti-dilutive are as follows:
Fiscal year ended January 31,
202320222021
Options and awards3,945,110 958,476 1,045,222 
v3.23.1
Revenues by Product (Tables)
 12 Months Ended
Jan. 31, 2023
Revenue from Contract with Customer [Abstract]  
Summary of Total Revenues
Total revenues consist of the following (in thousands):
Fiscal year ended January 31,
202320222021
Subscription services
Commercial Solutions$946,252 $876,458 $744,856 
R&D Solutions786,750 607,518 434,630 
Total subscription services1,733,002 1,483,976 1,179,486 
Professional services
Commercial Solutions177,188 165,086 142,003 
R&D Solutions244,870 201,715 143,580 
Total professional services422,058 366,801 285,583 
Total revenues$2,155,060 $1,850,777 $1,465,069 
v3.23.1
Information about Geographic Areas (Tables)
 12 Months Ended
Jan. 31, 2023
Segment Reporting [Abstract]  
Schedule of Revenues by Geographic Area
Total revenues by geographic area were as follows for the periods shown below (in thousands):
Fiscal year ended January 31,
202320222021
Revenues by geography
North America$1,253,760 $1,063,770 $838,192 
Europe598,828 509,127 400,790 
Asia Pacific244,655 225,968 183,848 
Middle East, Africa, and Latin America57,817 51,912 42,239 
Total revenues$2,155,060 $1,850,777 $1,465,069 
Schedule of Long-Lived Assets by Geographic Area
Long-lived assets by geographic area are as follows as of the periods shown below (in thousands):
January 31,
20232022
Long-lived assets by geography
North America$42,003 $45,625 
Europe5,336 6,135 
Asia Pacific963 1,335 
Middle East, Africa, and Latin America1,515 1,400 
Total long-lived assets$49,817 $54,495 
v3.23.1
Summary of Business and Significant Accounting Policies - Additional Information (Details)
 12 Months Ended
Jan. 31, 2023
USD ($)
reporting_unit
segment
Jan. 31, 2022
USD ($)
Jan. 31, 2021
USD ($)
Concentration Risk [Line Items]      
Number of operating segments | segment 1    
Number of reportable segments | segment 1    
Highly liquid investments maturity 3 months    
Number of reporting units | reporting_unit 1    
Impairment of goodwill | $ $ 0 $ 0 $ 0
Impairment recognized for long-lived assets | $ $ 0 $ 0 $ 0
Software Development      
Concentration Risk [Line Items]      
Finite-lived intangible asset, useful life 3 years    
Minimum      
Concentration Risk [Line Items]      
Amortization period of deferred costs 1 year    
Customer payment period 30 days    
Minimum | 2007 Stock Plan | Restricted Stock Units (RSUs)      
Concentration Risk [Line Items]      
Share-based compensation cost recognition vesting service period 1 year    
Minimum | 2007 Stock Plan | Stock Options      
Concentration Risk [Line Items]      
Share-based compensation cost recognition vesting service period 4 years    
Maximum      
Concentration Risk [Line Items]      
Amortization period of deferred costs 3 years    
Customer payment period 60 days    
Maximum | 2007 Stock Plan | Restricted Stock Units (RSUs)      
Concentration Risk [Line Items]      
Share-based compensation cost recognition vesting service period 5 years    
Maximum | 2007 Stock Plan | Stock Options      
Concentration Risk [Line Items]      
Share-based compensation cost recognition vesting service period 8 years    
v3.23.1
Summary of Business and Significant Accounting Policies - Concentrations of Credit Risk (Details) - Accounts Receivable - Customer Concentration Risk
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Customer 1    
Concentration Risk [Line Items]    
Concentration risk, percentage 11.00% 10.00%
Customer 2    
Concentration Risk [Line Items]    
Concentration risk, percentage 11.00% 10.00%
v3.23.1
Summary of Business and Significant Accounting Policies - Estimated Useful Lives (Details)
 12 Months Ended
Jan. 31, 2023
Building  
Property, Plant and Equipment [Line Items]  
Property and equipment, estimated useful life 30 years
Building improvements  
Property, Plant and Equipment [Line Items]  
Property and equipment, estimated useful life Remaining useful life of the building
Equipment and computers  
Property, Plant and Equipment [Line Items]  
Property and equipment, estimated useful life 3 years
Furniture and fixtures  
Property, Plant and Equipment [Line Items]  
Property and equipment, estimated useful life 5 years
Land improvements  
Property, Plant and Equipment [Line Items]  
Property and equipment, estimated useful life 10 years
Leasehold improvements  
Property, Plant and Equipment [Line Items]  
Property and equipment, estimated useful life Shorter of remaining life of the lease term or estimated useful life
v3.23.1
Short-Term Investments - Schedule of Short-Term Investments (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Schedule of Available-for-sale Securities [Line Items]    
Amortized cost $ 2,244,966 $ 1,247,165
Gross unrealized gains 2,555 392
Gross unrealized losses (31,358) (9,493)
Estimated fair value 2,216,163 1,238,064
Certificates of deposits    
Schedule of Available-for-sale Securities [Line Items]    
Amortized cost 37,998 13,500
Gross unrealized gains 31 0
Gross unrealized losses (66) (15)
Estimated fair value 37,963 13,485
Asset-backed securities    
Schedule of Available-for-sale Securities [Line Items]    
Amortized cost 448,081 191,676
Gross unrealized gains 585 45
Gross unrealized losses (5,708) (1,432)
Estimated fair value 442,958 190,289
Commercial paper    
Schedule of Available-for-sale Securities [Line Items]    
Amortized cost 155,097 29,432
Gross unrealized gains 8 0
Gross unrealized losses (580) (2)
Estimated fair value 154,525 29,430
Corporate notes and bonds    
Schedule of Available-for-sale Securities [Line Items]    
Amortized cost 1,224,195 669,489
Gross unrealized gains 1,649 276
Gross unrealized losses (17,880) (5,856)
Estimated fair value 1,207,964 663,909
Foreign government bonds    
Schedule of Available-for-sale Securities [Line Items]    
Amortized cost 24,654 24,577
Gross unrealized gains 13 13
Gross unrealized losses (516) (179)
Estimated fair value 24,151 24,411
U.S. agency obligations    
Schedule of Available-for-sale Securities [Line Items]    
Amortized cost 32,995 27,978
Gross unrealized gains 4 12
Gross unrealized losses (594) (254)
Estimated fair value 32,405 27,736
U.S. treasury securities    
Schedule of Available-for-sale Securities [Line Items]    
Amortized cost 321,946 290,513
Gross unrealized gains 265 46
Gross unrealized losses (6,014) (1,755)
Estimated fair value $ 316,197 $ 288,804
v3.23.1
Short-Term Investments - Summary of Estimated Fair Value of Short-Term Investments, Designated as Available-for-Sale and Classified by Contractual Maturity (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Investments, Debt and Equity Securities [Abstract]    
Due in one year or less $ 849,673 $ 457,948
Due in greater than one year 1,366,490 780,116
Total $ 2,216,163 $ 1,238,064
v3.23.1
Short-Term Investments - Schedule of Fair Values and Gross Unrealized Loss Position of Available-for-Sale Securities Aggregated by Investment Category (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Certificates of deposits    
Schedule of Available-for-sale Securities [Line Items]    
Less than 12 months, fair value $ 15,934 $ 5,985
Less than 12 months, gross unrealized losses (66) (15)
Greater than 12 months, fair value 0  
Greater than 12 months, gross unrealized losses 0  
Asset-backed securities    
Schedule of Available-for-sale Securities [Line Items]    
Less than 12 months, fair value 293,854 177,056
Less than 12 months, gross unrealized losses (3,219) (1,432)
Greater than 12 months, fair value 78,279  
Greater than 12 months, gross unrealized losses (2,489)  
Commercial paper    
Schedule of Available-for-sale Securities [Line Items]    
Less than 12 months, fair value 144,741 17,190
Less than 12 months, gross unrealized losses (580) (2)
Greater than 12 months, fair value 0  
Greater than 12 months, gross unrealized losses 0  
Corporate notes and bonds    
Schedule of Available-for-sale Securities [Line Items]    
Less than 12 months, fair value 604,264 571,099
Less than 12 months, gross unrealized losses (6,801) (5,856)
Greater than 12 months, fair value 370,969  
Greater than 12 months, gross unrealized losses (11,079)  
Foreign government bonds    
Schedule of Available-for-sale Securities [Line Items]    
Less than 12 months, fair value 11,284 19,594
Less than 12 months, gross unrealized losses (126) (179)
Greater than 12 months, fair value 11,827  
Greater than 12 months, gross unrealized losses (390)  
U.S. agency obligations    
Schedule of Available-for-sale Securities [Line Items]    
Less than 12 months, fair value 4,941 24,725
Less than 12 months, gross unrealized losses (61) (254)
Greater than 12 months, fair value 24,461  
Greater than 12 months, gross unrealized losses (533)  
U.S. treasury securities    
Schedule of Available-for-sale Securities [Line Items]    
Less than 12 months, fair value 210,246 247,509
Less than 12 months, gross unrealized losses (3,661) $ (1,756)
Greater than 12 months, fair value 63,422  
Greater than 12 months, gross unrealized losses $ (2,353)  
v3.23.1
Deferred Costs (Details) - USD ($)
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Deferred Costs [Abstract]      
Deferred costs $ 31,825,000 $ 33,106,000  
Amortization of deferred costs 22,000,000 26,000,000 $ 21,000,000
Impairment losses recorded in relation to the costs capitalized $ 0 $ 0 $ 0
v3.23.1
Property and Equipment, Net - Components of Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 81,932 $ 84,769
Less accumulated depreciation (32,115) (30,274)
Total property and equipment, net 49,817 54,495
Land    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 3,040 3,040
Building    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 20,984 20,984
Land improvements and building improvements    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 22,392 22,392
Equipment and computers    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 2,233 3,581
Furniture and fixtures    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 13,995 15,040
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 18,986 19,002
Construction in progress    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 302 $ 730
v3.23.1
Property and Equipment, Net - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Property, Plant and Equipment [Abstract]      
Depreciation $ 6 $ 7 $ 9
v3.23.1
Goodwill and Intangible Assets - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Intangible Assets, Net (Excluding Goodwill) [Abstract]      
Goodwill $ 439,877 $ 439,877  
Amortization expense $ 19,000 $ 19,000 $ 20,000
v3.23.1
Goodwill and Intangible Assets - Details of Intangible Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount $ 177,042 $ 177,042
Accumulated amortization (94,566) (75,102)
Net 82,476 101,940
Existing technology    
Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount 28,580 28,580
Accumulated amortization (16,418) (12,187)
Net $ 12,162 $ 16,393
Remaining useful life (in years) 2 years 10 months 24 days 3 years 10 months 24 days
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount $ 113,157 $ 113,157
Accumulated amortization (50,293) (38,829)
Net $ 62,864 $ 74,328
Remaining useful life (in years) 6 years 1 month 6 days 7 years
Trade name and trademarks    
Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount $ 13,900 $ 13,900
Accumulated amortization (9,285) (6,645)
Net $ 4,615 $ 7,255
Remaining useful life (in years) 1 year 9 months 18 days 2 years 9 months 18 days
Other intangibles    
Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount $ 21,405 $ 21,405
Accumulated amortization (18,570) (17,441)
Net $ 2,835 $ 3,964
Remaining useful life (in years) 3 years 3 years 9 months 18 days
v3.23.1
Goodwill and Intangible Assets - Estimated Amortization Expense (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Fiscal 2024 $ 19,460  
Fiscal 2025 18,557  
Fiscal 2026 14,147  
Fiscal 2027 8,922  
Fiscal 2028 7,778  
Thereafter 13,612  
Net $ 82,476 $ 101,940
v3.23.1
Accrued Expenses (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Payables and Accruals [Abstract]    
Accrued commissions $ 11,240 $ 8,556
Accrued bonus 3,484 4,677
Accrued vacation 6,653 5,546
Payroll tax payable 16,229 9,487
Accrued other compensation and benefits 6,676 5,568
Total accrued compensation and benefits 44,282 33,834
Accrued fees payable to Salesforce, Inc. 6,653 6,521
Taxes payable 9,197 9,743
Accrued third-party professional services subcontractors' fees 2,597 1,961
Other accrued expenses 16,859 17,884
Total accrued expenses and other current liabilities $ 35,306 $ 36,109
v3.23.1
Fair Value Measurements - Schedule of Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Assets    
Short-term investments $ 2,216,163 $ 1,238,064
U.S. treasury securities    
Assets    
Short-term investments 316,197 288,804
Corporate notes and bonds    
Assets    
Short-term investments 1,207,964 663,909
Certificates of deposits    
Assets    
Short-term investments 37,963 13,485
Asset-backed securities    
Assets    
Short-term investments 442,958 190,289
Commercial paper    
Assets    
Short-term investments 154,525 29,430
Foreign government bonds    
Assets    
Short-term investments 24,151 24,411
U.S. agency obligations    
Assets    
Short-term investments 32,405 27,736
Fair value, measurements recurring    
Assets    
Total financial assets 2,426,929 1,676,118
Fair value, measurements recurring | Money market funds    
Assets    
Cash equivalents: 180,895 428,411
Fair value, measurements recurring | U.S. treasury securities    
Assets    
Cash equivalents: 22,929  
Short-term investments 316,197 288,804
Fair value, measurements recurring | Corporate notes and bonds    
Assets    
Cash equivalents: 6,691 5,853
Short-term investments 1,207,964 663,909
Fair value, measurements recurring | Certificates of deposits    
Assets    
Short-term investments 37,963 13,485
Fair value, measurements recurring | Asset-backed securities    
Assets    
Cash equivalents:   2,568
Short-term investments 442,958 190,289
Fair value, measurements recurring | Commercial paper    
Assets    
Short-term investments 154,525 29,430
Fair value, measurements recurring | Foreign government bonds    
Assets    
Short-term investments 24,151 24,411
Fair value, measurements recurring | U.S. agency obligations    
Assets    
Short-term investments 32,405 27,736
Fair value, measurements recurring | Foreign currency derivative contracts    
Assets    
Short-term investments 251 1,222
Fair value, measurements recurring | Level 1    
Assets    
Total financial assets 180,895 428,411
Fair value, measurements recurring | Level 1 | Money market funds    
Assets    
Cash equivalents: 180,895 428,411
Fair value, measurements recurring | Level 1 | U.S. treasury securities    
Assets    
Cash equivalents: 0  
Short-term investments 0 0
Fair value, measurements recurring | Level 1 | Corporate notes and bonds    
Assets    
Cash equivalents: 0 0
Short-term investments 0 0
Fair value, measurements recurring | Level 1 | Certificates of deposits    
Assets    
Short-term investments 0 0
Fair value, measurements recurring | Level 1 | Asset-backed securities    
Assets    
Cash equivalents:   0
Short-term investments 0 0
Fair value, measurements recurring | Level 1 | Commercial paper    
Assets    
Short-term investments 0 0
Fair value, measurements recurring | Level 1 | Foreign government bonds    
Assets    
Short-term investments 0 0
Fair value, measurements recurring | Level 1 | U.S. agency obligations    
Assets    
Short-term investments 0 0
Fair value, measurements recurring | Level 1 | Foreign currency derivative contracts    
Assets    
Short-term investments 0 0
Fair value, measurements recurring | Level 2    
Assets    
Total financial assets 2,246,034 1,247,707
Fair value, measurements recurring | Level 2 | Money market funds    
Assets    
Cash equivalents: 0 0
Fair value, measurements recurring | Level 2 | U.S. treasury securities    
Assets    
Cash equivalents: 22,929  
Short-term investments 316,197 288,804
Fair value, measurements recurring | Level 2 | Corporate notes and bonds    
Assets    
Cash equivalents: 6,691 5,853
Short-term investments 1,207,964 663,909
Fair value, measurements recurring | Level 2 | Certificates of deposits    
Assets    
Short-term investments 37,963 13,485
Fair value, measurements recurring | Level 2 | Asset-backed securities    
Assets    
Cash equivalents:   2,568
Short-term investments 442,958 190,289
Fair value, measurements recurring | Level 2 | Commercial paper    
Assets    
Short-term investments 154,525 29,430
Fair value, measurements recurring | Level 2 | Foreign government bonds    
Assets    
Short-term investments 24,151 24,411
Fair value, measurements recurring | Level 2 | U.S. agency obligations    
Assets    
Short-term investments 32,405 27,736
Fair value, measurements recurring | Level 2 | Foreign currency derivative contracts    
Assets    
Short-term investments $ 251 $ 1,222
v3.23.1
Fair Value Measurements - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Fair Value Disclosures [Abstract]      
Realized foreign currency gain (loss) $ 5 $ 0 $ 0
v3.23.1
Fair Value Measurements - Schedule of Fair Value of Outstanding Derivative Instruments (Details) - Foreign currency derivative contracts - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Derivatives, Fair Value [Line Items]    
Notional amount of foreign currency derivative contracts $ 137,998 $ 87,097
Fair value of foreign currency derivative contracts $ 137,860 $ 85,876
v3.23.1
Income Taxes - Components of Income before Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Income Tax Disclosure [Abstract]      
United States $ 482,885 $ 487,962 $ 378,042
Foreign 26,211 24,349 15,951
Income before income taxes $ 509,096 $ 512,311 $ 393,993
v3.23.1
Income Taxes - Components of Provision for Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Current provision:      
Federal $ 110,610 $ 53,426 $ 7,108
State 29,775 12,580 4,763
Foreign 8,507 7,837 2,825
Total current provision 148,892 73,843 14,696
Deferred (benefit) provision:      
Federal (98,923) 1,870 (816)
State (20,755) 945 681
Foreign (7,824) 8,264 (566)
Total deferred (benefit) provision (127,502) 11,079 (701)
Provision for income taxes $ 21,390 $ 84,921 $ 13,995
v3.23.1
Income Taxes - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Jan. 31, 2020
Income Tax Contingency [Line Items]        
Federal statutory income tax rate 21.00% 21.00% 21.00%  
Federal net operating loss carryforwards $ 15,000      
State net operating loss carryforwards 43,000      
Foreign net operating loss carryforwards 25,000      
Unrecognized tax benefits 30,713 $ 25,241 $ 18,628 $ 14,515
Unrecognized tax benefits that would impact effective tax rate 18,000      
Accrued interest and penalties 3,000 $ 2,000 $ 1,000  
State and Local Jurisdiction | California Franchise Tax Board        
Income Tax Contingency [Line Items]        
Tax credit carryforward $ 66,000      
v3.23.1
Income Taxes - Reconciliation of Statutory Federal Income Tax to Effective Tax (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Income Tax Disclosure [Abstract]      
Federal tax statutory tax rate $ 106,910 $ 107,585 $ 82,739
State taxes 7,318 11,035 4,401
Tax credits (33,463) (25,968) (24,617)
Stock-based compensation (52,304) (29,715) (54,488)
Valuation allowance 5,654 19,402 10,269
Foreign derived intangible income deduction (FDII) (15,811) (3,406) (5,134)
Other 3,086 5,988 825
Provision for income taxes $ 21,390 $ 84,921 $ 13,995
v3.23.1
Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Deferred tax assets:    
Accruals and reserves $ 13,137 $ 7,068
Capitalized expenditures 123,746 10,477
Stock-based compensation 32,536 16,615
Net operating loss carryforward 12,245 21,850
Tax credit carryforward 43,732 34,725
Lease liabilities 15,724 13,813
Other 7,890 2,955
Gross deferred tax assets 249,010 107,503
Valuation allowance (51,685) (48,484)
Total deferred tax assets 197,325 59,019
Deferred tax liabilities:    
Intangible assets (28,799) (31,200)
Lease right-of-use assets (14,192) (12,497)
Deferred costs (12,949) (10,552)
Other (6,180) (1,889)
Total deferred tax liabilities (62,120) (56,138)
Net deferred tax assets $ 135,205 $ 2,881
v3.23.1
Income Taxes - Summary of Changes in Total Gross Amount of Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Beginning balance $ 25,241 $ 18,628 $ 14,515
Increases related to tax positions taken during the prior period 971 3,218 96
Increases related to tax positions taken during the current period 4,934 4,122 4,126
Decreases related to tax positions taken during the prior period (137) 0 (51)
Audit settlements 0 (195) 0
Lapse of statute of limitations (296) (532) (58)
Ending balance $ 30,713 $ 25,241 $ 18,628
v3.23.1
Deferred Revenue, Performance Obligations, and Unbilled Accounts Receivable - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Revenue From Contracts With Customers [Line Items]      
Unbilled accounts receivable $ 82,174 $ 63,266  
Subscription services      
Revenue From Contracts With Customers [Line Items]      
Recognition of deferred revenue 708,000 605,000 $ 464,000
Revenue expected to be recognized from remaining performance obligations 1,663,000    
Unbilled accounts receivable 50,000 36,000  
Professional services and other      
Revenue From Contracts With Customers [Line Items]      
Unbilled accounts receivable $ 32,000 $ 28,000  
v3.23.1
Deferred Revenue, Performance Obligations, and Unbilled Accounts Receivable - Performance Obligation Duration (Details) - Subscription services
Jan. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-02-01  
Revenue From Contracts With Customers [Line Items]  
Revenue, remaining performance obligation, percentage 80.00%
Revenue, remaining performance obligation, recognition period 12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-02-01  
Revenue From Contracts With Customers [Line Items]  
Revenue, remaining performance obligation, recognition period
v3.23.1
Leases - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Leases [Line Items]      
Operating lease expense $ 16 $ 14 $ 13
Maximum      
Leases [Line Items]      
Operating leases, options to extend leases term 9 years    
Finance leases, options to extend leases term 9 years    
v3.23.1
Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Leases [Abstract]    
Cash paid for operating lease liabilities $ 12,908 $ 13,800
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities $ 14,488 $ 3,848
v3.23.1
Leases - Supplemental Balance Sheet Information Related to Leases (Details)
Jan. 31, 2023
Jan. 31, 2022
Leases [Abstract]    
Weighted Average Remaining Lease Term 6 years 8 months 12 days 6 years
Weighted Average Discount Rate 4.20% 3.70%
v3.23.1
Leases- Maturities of Lease Liabilities (Details)
$ in Thousands
Jan. 31, 2023
USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]  
Fiscal 2024 $ 8,964
Fiscal 2025 11,986
Fiscal 2026 9,964
Fiscal 2027 8,895
Fiscal 2028 8,395
Thereafter 24,259
Total operating lease payments 72,463
Less imputed interest 11,487
Total operating lease liabilities $ 60,976
v3.23.1
Stockholders' Equity - Additional Information (Details)
 12 Months Ended
Jan. 31, 2023
USD ($)
vote
$ / shares
shares
Jan. 31, 2022
$ / shares
shares
Jan. 31, 2021
$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Dividends payable | $ $ 0    
Votes per common share | vote 1    
Options outstanding (in shares) 11,503,409 12,090,522  
Unrecognized compensation cost related to unvested stock options granted | $ $ 345,000,000    
Share price (in usd per share) | $ / shares $ 170.55    
Intrinsic value of options exercised | $ $ 551,000,000    
Class A common stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Common stock, shares outstanding (in shares) 143,693,009 139,432,822  
Vote per common share | vote 1    
Class B common stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Common stock, shares outstanding (in shares) 14,551,598 14,763,775  
Vote per common share | vote 10    
Common stock, conversion ratio 1    
2007 Stock Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Options outstanding (in shares) 0    
2021 Equity Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Options outstanding (in shares) 0    
2013 Equity Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Options outstanding (in shares) 0    
Number of additional shares authorized (in shares) 13,750,000    
Common stock, shares outstanding, percentage 5.00%    
Weighted-average grant date fair value of options granted (in usd per share) | $ / shares $ 88.25 $ 108.42 $ 71.86
2013 Equity Incentive Plan | Director      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of shares issued in period (in shares) 5,396,880    
2013 Equity Incentive Plan | Class A common stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of shares available for issuance (in shares) 40,161,454    
2013 Employee Stock Purchase Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of additional shares authorized (in shares) 2,200,000    
Common stock, shares outstanding, percentage 1.00%    
Number of shares reserved for future issuance (in shares) 4,000,000    
Number of shares authorized (in shares) 4,897,856    
Percent of fair market value paid for shares 85.00%    
Percentage of payroll deductions for shares acquired 15.00%    
2013 Employee Stock Purchase Plan | Director      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of shares issued in period (in shares) 0    
Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 1 year    
Weighted average period of unvested stock (in years) 2 years 3 months 18 days    
Unrecognized compensation cost related to unvested RSUs | $ $ 168,000,000    
Total intrinsic value, vested | $ $ 180,000,000    
Restricted Stock Units (RSUs) | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 4 years    
Restricted Stock Units (RSUs) | 2007 Stock Plan | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation cost recognition vesting service period 5 years    
Restricted Stock Units (RSUs) | 2007 Stock Plan | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation cost recognition vesting service period 1 year    
Stock Options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 4 years    
Weighted average period of unvested stock (in years) 2 years 6 months    
Stock Options | 2007 Stock Plan | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 5 years    
Options exercisable period 10 years    
Share-based compensation cost recognition vesting service period 8 years    
Stock Options | 2007 Stock Plan | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 4 years    
Share-based compensation cost recognition vesting service period 4 years    
Stock Options | 2013 Equity Incentive Plan | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 9 years    
Options exercisable period 10 years    
Stock Options | 2013 Equity Incentive Plan | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 5 years    
v3.23.1
Stockholders' Equity - Summary of Stock Option Activity (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Number of shares    
Options outstanding, beginning balance (in shares) 12,090,522  
Options granted (in shares) 3,267,206  
Options exercised (in shares) (3,421,303)  
Options forfeited/cancelled (in shares) (433,016)  
Options outstanding, ending balance (in shares) 11,503,409 12,090,522
Options vested and exercisable (in shares) 5,370,570  
Options vested and exercisable and expected to vest thereafter (in shares) 11,503,409  
Weighted average exercise price    
Options outstanding, beginning balance (in usd per share) $ 77.89  
Options granted (in usd per share) 205.48  
Options exercised (in usd per share) 12.74  
Options forfeited/cancelled (in usd per share) 209.53  
Options outstanding, ending balance (in usd per share) 128.62 $ 77.89
Options vested and exercisable (in usd per share) 74.10  
Options vested and exercisable and expected to vest thereafter (in usd per share) $ 128.62  
Weighted average remaining contractual term (in years), options outstanding 5 years 10 months 24 days 4 years 7 months 6 days
Weighted average remaining contractual term (in years), options vested and exercisable 3 years 10 months 24 days  
Weighted average remaining contractual term (in years), options vested and exercisable and expected to vest thereafter 5 years 10 months 24 days  
Aggregate intrinsic value (in millions)    
Options outstanding $ 705 $ 1,964
Options vested and exercisable 549  
Options vested and exercisable and expected to vest thereafter $ 705  
v3.23.1
Stockholders' Equity - Schedule of Weighted-Average Assumptions Used to Estimate Grant Date Fair Value of Options Granted (Details) - Stock Options
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Volatility, minimum 37.00% 37.00% 39.00%
Volatility, maximum 40.00% 39.00% 42.00%
Expected term (in years)   6 years 3 months  
Risk-free interest rate, minimum 1.90% 0.70% 0.33%
Risk-free interest rate, maximum 4.20% 1.60% 1.43%
Dividend yield 0.00% 0.00% 0.00%
Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected term (in years) 6 years   6 years 3 months
Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected term (in years) 7 years   7 years 3 months
v3.23.1
Stockholders' Equity - Summary of Restricted Stock Unit (RSU) Activity (Details) - Restricted Stock Units (RSUs)
 12 Months Ended
Jan. 31, 2023
$ / shares
shares
Unreleased restricted stock units  
Beginning balance (in shares) | shares 619,388
RSUs granted (in shares) | shares 1,548,166
RSUs vested (in shares) | shares (968,004)
RSUs forfeited/cancelled (in shares) | shares (95,871)
Ending balance (in shares) | shares 1,103,679
Weighted  average grant date fair value  
Beginning balance (in usd per share) | $ / shares $ 175.23
RSUs granted (in usd per share) | $ / shares 204.88
RSUs vested (in usd per share) | $ / shares 198.24
RSUs forfeited/cancelled (in usd per share) | $ / shares 200.97
Ending balance (in usd per share) | $ / shares $ 194.36
v3.23.1
Other Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Other Income and Expenses [Abstract]      
Foreign currency gain (loss) $ 591 $ (714) $ 2,275
Accretion (amortization) on investments 2,982 (7,201) (3,082)
Interest income, net 45,860 14,730 15,859
Miscellaneous income 572 0 1,147
Other income, net $ 50,005 $ 6,815 $ 16,199
v3.23.1
Net Income per Share - Numerators and Denominators of the Basic and Diluted EPS Computations for Common Stock (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Schedule Of Earnings Per Share Basic And Diluted [Line Items]      
Weighted average shares used in computing net income per share, basic (in shares) 155,385 153,251 150,666
Net income per share, basic (in usd per share) $ 3.14 $ 2.79 $ 2.52
Reallocation as a result of conversion of Class B to Class A common stock:      
Weighted average shares used in computing net income per share, diluted (in shares) 162,437 162,277 160,732
Net income per share, diluted (in usd per share) $ 3.00 $ 2.63 $ 2.36
Class A      
Schedule Of Earnings Per Share Basic And Diluted [Line Items]      
Net income, basic $ 441,425 $ 386,180 $ 341,866
Weighted average shares used in computing net income per share, basic (in shares) 140,640 138,474 135,547
Net income per share, basic (in usd per share) $ 3.14 $ 2.79 $ 2.52
Net income, basic $ 441,425 $ 386,180 $ 341,866
Reallocation as a result of conversion of Class B to Class A common stock:      
Net income, basic 46,281 41,210 38,132
Reallocation of net income to Class B common stock 0 0 0
Net income, diluted $ 487,706 $ 427,390 $ 379,998
Conversion of Class B to Class A common stock (in shares) 14,745 14,777 15,119
Effect of potentially dilutive common shares (in shares) 7,052 9,026 10,066
Weighted average shares used in computing net income per share, diluted (in shares) 162,437 162,277 160,732
Net income per share, diluted (in usd per share) $ 3.00 $ 2.63 $ 2.36
Class B      
Schedule Of Earnings Per Share Basic And Diluted [Line Items]      
Net income, basic $ 46,281 $ 41,210 $ 38,132
Weighted average shares used in computing net income per share, basic (in shares) 14,745 14,777 15,119
Net income per share, basic (in usd per share) $ 3.14 $ 2.79 $ 2.52
Net income, basic $ 46,281 $ 41,210 $ 38,132
Reallocation as a result of conversion of Class B to Class A common stock:      
Net income, basic 0 0 0
Reallocation of net income to Class B common stock 19,163 21,480 21,409
Net income, diluted $ 65,444 $ 62,690 $ 59,541
Conversion of Class B to Class A common stock (in shares) 0 0 0
Effect of potentially dilutive common shares (in shares) 7,052 9,026 10,066
Weighted average shares used in computing net income per share, diluted (in shares) 21,797 23,803 25,185
Net income per share, diluted (in usd per share) $ 3.00 $ 2.63 $ 2.36
v3.23.1
Net Income per Share - Potential Common Share Equivalents Excluded where the Inclusion would be Anti-dilutive (Details) - shares
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Earnings Per Share [Abstract]      
Options and awards (in shares) 3,945,110 958,476 1,045,222
v3.23.1
Commitments and Contingencies (Details)
$ in Millions
Mar. 13, 2017
USD ($)
Jan. 26, 2017
employee
IQVIA Litigation Matter | Minimum    
Long-term Purchase Commitment [Line Items]    
Monetary damages | $ $ 200  
Medidata Litigation Matter    
Long-term Purchase Commitment [Line Items]    
Number of former employees | employee   5
v3.23.1
Revenues by Product - Summary of Total Revenues (Details)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
USD ($)
product_area
Jan. 31, 2022
USD ($)
Jan. 31, 2021
USD ($)
Disaggregation of Revenue [Line Items]      
Number of product areas | product_area 2    
Total revenues $ 2,155,060 $ 1,850,777 $ 1,465,069
Total subscription services      
Disaggregation of Revenue [Line Items]      
Total revenues 1,733,002 1,483,976 1,179,486
Commercial Solutions      
Disaggregation of Revenue [Line Items]      
Total revenues 946,252 876,458 744,856
R&D Solutions      
Disaggregation of Revenue [Line Items]      
Total revenues 786,750 607,518 434,630
Total professional services      
Disaggregation of Revenue [Line Items]      
Total revenues 422,058 366,801 285,583
Commercial Solutions      
Disaggregation of Revenue [Line Items]      
Total revenues 177,188 165,086 142,003
R&D Solutions      
Disaggregation of Revenue [Line Items]      
Total revenues $ 244,870 $ 201,715 $ 143,580
v3.23.1
Information about Geographic Areas - Revenues by Geographic Area (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Revenues by geography      
Total revenues $ 2,155,060 $ 1,850,777 $ 1,465,069
North America      
Revenues by geography      
Total revenues 1,253,760 1,063,770 838,192
Europe      
Revenues by geography      
Total revenues 598,828 509,127 400,790
Asia Pacific      
Revenues by geography      
Total revenues 244,655 225,968 183,848
Middle East, Africa, and Latin America      
Revenues by geography      
Total revenues $ 57,817 $ 51,912 $ 42,239
v3.23.1
Information about Geographic Areas - Long-Lived Assets by Geographic Area (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Long-lived assets by geography    
Total long-lived assets $ 49,817 $ 54,495
North America    
Long-lived assets by geography    
Total long-lived assets 42,003 45,625
Europe    
Long-lived assets by geography    
Total long-lived assets 5,336 6,135
Asia Pacific    
Long-lived assets by geography    
Total long-lived assets 963 1,335
Middle East, Africa, and Latin America    
Long-lived assets by geography    
Total long-lived assets $ 1,515 $ 1,400
v3.23.1
401(k) Plan (Details) - USD ($)
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Defined Contribution Plan Disclosure [Line Items]      
Total expense related defined benefit plan $ 8,000,000 $ 7,000,000 $ 6,000,000
401(k) plan      
Defined Contribution Plan Disclosure [Line Items]      
Employer maximum matching contribution amount per employee per year 2,000    
RRSP | CANADA      
Defined Contribution Plan Disclosure [Line Items]      
Employer maximum matching contribution amount per employee per year $ 2,000