VEEVA SYSTEMS INC, 10-K filed on 3/24/2025
Annual Report
v3.25.1
Cover Page - USD ($)
$ in Billions
 12 Months Ended
Jan. 31, 2025
Mar. 21, 2025
Jul. 31, 2024
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Jan. 31, 2025    
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    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Public Float     $ 28.3
Entity Common Stock, Shares Outstanding   162,696,040  
Documents Incorporated by Reference
Portions of the registrant’s Proxy Statement for the 2025 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, 2025.
    
Amendment Flag false    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Entity Central Index Key 0001393052    
v3.25.1
Audit Information
 12 Months Ended
Jan. 31, 2025
Audit Information [Abstract]  
Auditor Name KPMG LLP
Auditor Location San Francisco, CA
Auditor Firm ID 185
v3.25.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,118,785 $ 703,487
Short-term investments 4,031,442 3,324,269
Accounts receivable, net of allowance for credit losses of $57 and $520, respectively 1,016,356 852,172
Unbilled accounts receivable 40,761 36,365
Prepaid expenses and other current assets 101,458 86,918
Total current assets 6,308,802 5,003,211
Property and equipment, net 55,912 58,532
Deferred costs, net 26,383 23,916
Lease right-of-use assets 63,863 45,602
Goodwill 439,877 439,877
Intangible assets, net 44,460 63,017
Deferred income taxes 343,919 233,463
Other long-term assets 56,540 43,302
Total assets 7,339,756 5,910,920
Current liabilities:    
Accounts payable 30,447 31,513
Accrued compensation and benefits 39,429 43,433
Accrued expenses and other current liabilities 35,557 32,980
Income tax payable 9,024 11,862
Deferred revenue 1,273,978 1,049,761
Lease liabilities 9,969 9,334
Total current liabilities 1,398,404 1,178,883
Deferred income taxes 587 2,052
Long-term lease liabilities 65,806 46,441
Other long-term liabilities 42,586 38,720
Total liabilities 1,507,383 1,266,096
Commitments and contingencies (note 14)
Stockholders’ equity:    
Common stock 2 2
Additional paid-in capital 2,386,192 1,915,002
Accumulated other comprehensive loss (8,416) (10,637)
Retained earnings 3,454,595 2,740,457
Total stockholders’ equity 5,832,373 4,644,824
Total liabilities and stockholders’ equity $ 7,339,756 $ 5,910,920
v3.25.1
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Statement of Financial Position [Abstract]    
Allowance for doubtful accounts $ 57 $ 520
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) 162,583,789  
Common stock, shares outstanding (in shares) 162,583,789 161,260,172
v3.25.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Revenues:      
Total revenues $ 2,746,619 $ 2,363,673 $ 2,155,060
Cost of revenues:      
Total cost of revenues [1] 699,636 677,291 609,405
Gross profit 2,046,983 1,686,382 1,545,655
Operating expenses:      
Research and development [1] 693,078 629,031 520,278
Sales and marketing [1] 396,726 381,472 348,691
General and administrative [1] 265,744 246,545 217,595
Total operating expenses [1] 1,355,548 1,257,048 1,086,564
Operating income 691,435 429,334 459,091
Other income, net 227,946 158,689 50,005
Income before income taxes 919,381 588,023 509,096
Income tax provision 205,243 62,318 21,390
Net income $ 714,138 $ 525,705 $ 487,706
Net income per share:      
Basic (in usd per share) $ 4.41 $ 3.27 $ 3.14
Diluted (in usd per share) $ 4.32 $ 3.22 $ 3.00
Weighted-average shares used to compute net income per share:      
Basic (in shares) 161,879 160,532 155,385
Diluted (in shares) 165,232 163,486 162,437
Other comprehensive income:      
Net change in unrealized gain (loss) on available-for-sale investments $ 4,094 $ 22,038 $ (14,854)
Net change in cumulative foreign currency translation loss (1,873) (1,546) (4,317)
Comprehensive income 716,359 546,197 468,535
Subscription services      
Revenues:      
Total revenues 2,284,659 1,901,593 1,733,002
Cost of revenues:      
Total cost of revenues [1] 323,070 290,577 257,635
Professional services and other      
Revenues:      
Total revenues 461,960 462,080 422,058
Cost of revenues:      
Total cost of revenues [1] $ 376,566 $ 386,714 $ 351,770
[1]
(1) Includes stock-based compensation as follows:
Cost of revenues:
Cost of subscription services$6,591 $6,483 $6,257 
Cost of professional services and other51,377 53,237 50,341 
Research and development185,901 172,876 141,571 
Sales and marketing90,178 90,865 87,509 
General and administrative103,303 70,272 66,229 
Total stock-based compensation$437,350 $393,733 $351,907 
v3.25.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Total stock-based compensation $ 437,350 $ 393,733 $ 351,907
Cost of subscription services      
Total stock-based compensation 6,591 6,483 6,257
Cost of professional services and other      
Total stock-based compensation 51,377 53,237 50,341
Research and development      
Total stock-based compensation 185,901 172,876 141,571
Sales and marketing      
Total stock-based compensation 90,178 90,865 87,509
General and administrative      
Total stock-based compensation $ 103,303 $ 70,272 $ 66,229
v3.25.1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Class A & B common stock
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Beginning balance (in shares) at Jan. 31, 2022 [1]   154,196,597      
Beginning balance at Jan. 31, 2022 $ 2,911,637 $ 2 [1] $ 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) [1]   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) [1]   968,004      
Shares withheld related to net share settlement (in shares) [1]   (341,297)      
Shares withheld related to net share settlement (63,654)   (63,654)    
Stock-based compensation expense 356,080   356,080    
Change in other comprehensive (loss) income (19,171)       (19,171)
Net income 487,706     487,706  
Ending balance (in shares) at Jan. 31, 2023 [1]   158,244,607      
Ending balance at Jan. 31, 2023 3,716,252 $ 2 [1] 1,532,627 2,214,752 (31,129)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock upon exercise of stock options (in shares) [1]   2,277,533      
Issuance of common stock upon exercise of stock options 62,687   62,687    
Issuance of common stock upon vesting of restricted stock units (in shares) [1]   1,150,059      
Shares withheld related to net share settlement (in shares) [1]   (412,027)      
Shares withheld related to net share settlement (79,825)   (79,825)    
Stock-based compensation expense 399,513   399,513    
Change in other comprehensive (loss) income 20,492       20,492
Net income $ 525,705     525,705  
Ending balance (in shares) at Jan. 31, 2024 161,260,172 161,260,172 [1]      
Ending balance at Jan. 31, 2024 $ 4,644,824 $ 2 [1] 1,915,002 2,740,457 (10,637)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock upon exercise of stock options (in shares) 673,079 673,079 [1]      
Issuance of common stock upon exercise of stock options $ 105,538   105,538    
Issuance of common stock upon vesting of restricted stock units (in shares) [1]   1,030,545      
Shares withheld related to net share settlement (in shares) [1]   (380,007)      
Shares withheld related to net share settlement (79,116)   (79,116)    
Stock-based compensation expense 444,768   444,768    
Change in other comprehensive (loss) income 2,221       2,221
Net income $ 714,138     714,138  
Ending balance (in shares) at Jan. 31, 2025 162,583,789 162,583,789 [1]      
Ending balance at Jan. 31, 2025 $ 5,832,373 $ 2 [1] $ 2,386,192 $ 3,454,595 $ (8,416)
[1]
(1) Class B common stock was converted to Class A common stock on October 15, 2023. We refer to our Class A common stock as common stock. See note 13 Net Income per Share.
v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Cash flows from operating activities      
Net income $ 714,138 $ 525,705 $ 487,706
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 39,383 32,628 29,122
Reduction of operating lease right-of-use assets 11,547 11,691 12,198
Accretion of discount on short-term investments (24,443) (26,515) (3,624)
Stock-based compensation 437,350 393,733 351,907
Amortization of deferred costs 15,528 18,177 22,096
Deferred income taxes (112,273) (105,374) (127,502)
Other, net 1,201 471 1,227
Changes in operating assets and liabilities:      
Accounts receivable (164,572) (149,810) (72,177)
Unbilled accounts receivable (4,396) 45,809 (18,908)
Deferred costs (17,995) (10,268) (20,815)
Prepaid expenses and other current and long-term assets (17,453) 414 (47,399)
Accounts payable (1,961) (10,230) 21,429
Accrued expenses and other current liabilities (1,414) (4,249) 9,276
Income tax payable (2,838) 6,916 (2,815)
Deferred revenue 227,838 188,164 140,472
Lease liabilities (9,835) (6,879) (10,644)
Other long-term liabilities 246 956 8,921
Net cash provided by operating activities 1,090,051 911,339 780,470
Cash flows from investing activities      
Purchases of short-term investments (2,581,968) (2,697,968) (1,996,878)
Maturities and sales of short-term investments 1,902,349 1,647,813 1,002,707
Long-term assets (20,519) (26,196) (13,512)
Net cash used in investing activities (700,138) (1,076,351) (1,007,683)
Cash flows from financing activities      
Proceeds from exercise of common stock options 105,538 62,687 43,654
Taxes paid related to net share settlement of equity awards (79,423) (78,875) (63,030)
Net cash provided by (used in) financing activities 26,115 (16,188) (19,376)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (1,735) (1,780) (4,986)
Net change in cash, cash equivalents, and restricted cash 414,293 (182,980) (251,575)
Cash, cash equivalents, and restricted cash at beginning of period 706,670 889,650 1,141,225
Cash, cash equivalents, and restricted cash at end of period 1,120,963 706,670 889,650
Cash, cash equivalents, and restricted cash at end of period:      
Cash and cash equivalents 1,118,785 703,487 886,465
Restricted cash included in other long-term assets 2,178 3,183 3,185
Total cash, cash equivalents, and restricted cash at end of period 1,120,963 706,670 889,650
Supplemental disclosures of other cash flow information:      
Cash paid for income taxes, net of refunds 322,048 134,473 167,952
Excess tax benefits from employee stock plans $ 8,932 $ 71,049 $ 82,009
v3.25.1
Summary of Business and Significant Accounting Policies
 12 Months Ended
Jan. 31, 2025
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, 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) through 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, regulatory, quality, and safety functions help life sciences companies streamline their end-to-end product development and quality and manufacturing processes to increase operational efficiency and maintain regulatory compliance throughout the product life cycle. Our solutions for clinical research sites enable regulatory documents and trial information to be managed in a modern cloud solution that is intended to accelerate the clinical research process for the life sciences industry overall. 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.
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.
Subscription Services Revenues
Subscription services revenues are recognized ratably over the respective noncancellable 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. Business consulting services, 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 represent 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 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 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.
Recently Adopted Accounting Pronouncements
Improvements to Reportable Segment Disclosures
In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. We adopted the new standard during the year ended January 31, 2025. See note 15 for more information.
New Accounting Pronouncements Issued and Not Yet Adopted
Improvements to Income Tax Disclosures
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disaggregation of rate reconciliation categories and income taxes paid by jurisdiction, among other amendments. This new standard is effective for our fiscal year beginning on February 1, 2025 on a prospective basis and retrospective application is permitted. We are currently evaluating this ASU to determine its impact on our disclosures.
Disaggregation of Income Statement Expenses
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosure (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires disclosure, in the notes to the financial statements, of additional information about certain costs and expenses for interim and annual reporting periods. This new standard is effective for our fiscal year beginning on February 1, 2027 and interim periods beginning on February 1, 2028 on a prospective basis and retrospective application is permitted. We are currently evaluating this ASU to determine its impact on our disclosures
v3.25.1
Short-Term Investments
 12 Months Ended
Jan. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Short-Term Investments Short-Term Investments
As of January 31, 2025, 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 deposit
$64,045 $69 $(21)$64,093 
Asset-backed securities526,986 3,257 (232)530,011 
Commercial paper74,468 108 (1)74,575 
Corporate notes and bonds2,202,150 10,588 (5,782)2,206,956 
Foreign government bonds176,684 442 (1,023)176,103 
Municipal securities
67,780 173 (122)67,831 
U.S. agency obligations24,616 94 (1)24,709 
U.S. treasury securities888,968 1,440 (3,244)887,164 
Total available-for-sale securities$4,025,697 $16,171 $(10,426)$4,031,442 
As of January 31, 2024, 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 deposit
$94,210 $87 $(14)$94,283 
Asset-backed securities605,852 2,916 (1,787)606,981 
Commercial paper144,218 47 (20)144,245 
Corporate notes and bonds1,581,382 8,835 (5,188)1,585,029 
Foreign government bonds50,180 206 (180)50,206 
Municipal securities
79,404 301 (231)79,474 
U.S. agency obligations49,372 232 (12)49,592 
U.S. treasury securities717,015 1,268 (3,824)714,459 
Total available-for-sale securities$3,321,633 $13,892 $(11,256)$3,324,269 
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,
20252024
Due in one year or less$1,066,558 $919,871 
Due in greater than one year2,964,884 2,404,398 
Total$4,031,442 $3,324,269 
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. It is more likely than not we will hold the securities until maturity or a 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, 2025 (in thousands):
12 months or less
Greater than 12 months
Fair
value		Gross
unrealized
losses		Fair
value		Gross
unrealized
losses
Certificates of deposit
$20,095 $(21)$— $— 
Asset-backed securities25,220 (31)44,789 (201)
Commercial paper4,944 (1)— — 
Corporate notes and bonds616,379 (5,569)71,331 (213)
Foreign government bonds76,856 (1,023)— — 
Municipal securities22,593 (122)— — 
U.S. agency obligations1,865 (1)— — 
U.S. treasury securities439,382 (3,072)173,071 (172)
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, 2024 (in thousands):
12 months or less
Greater than 12 months
Fair
value
Gross
unrealized
losses
Fair ValueGross unrealized losses
Certificates of deposit
$22,465 $(14)$— $— 
Asset-backed securities120,543 (343)105,419 (1,444)
Commercial paper70,037 (20)— — 
Corporate notes and bonds394,823 (1,560)280,092 (3,628)
Foreign government bonds8,915 (19)9,784 (161)
Municipal securities
31,418 (122)13,686 (109)
U.S. agency obligations1,795 (3)4,991 (9)
U.S. treasury securities280,946 (1,227)204,274 (2,597)
v3.25.1
Deferred Costs
 12 Months Ended
Jan. 31, 2025
Deferred Costs [Abstract]  
Deferred Costs Deferred CostsDeferred costs, which consist of deferred sales commissions, were $26 million and $24 million as of January 31, 2025 and January 31, 2024, respectively. Amortization expense for the deferred costs included in sales and marketing expenses in the consolidated statements of comprehensive income was $16 million, $18 million, and $22 million for the fiscal years ended January 31, 2025, 2024, and 2023, respectively. There have been no impairment losses recorded in relation to the costs capitalized for any period presented.
v3.25.1
Property and Equipment, Net
 12 Months Ended
Jan. 31, 2025
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,
20252024
Land$3,040 $3,040 
Building20,984 20,984 
Land improvements and building improvements22,392 22,392 
Equipment and computers1,483 2,551 
Furniture and fixtures6,288 15,498 
Leasehold improvements30,186 30,793 
Construction in progress2,992 31 
Property and equipment, gross
87,365 95,289 
Less accumulated depreciation(31,453)(36,757)
Total property and equipment, net$55,912 $58,532 
Total depreciation expense was immaterial for the fiscal years ended January 31, 2025, 2024, and 2023.
v3.25.1
Goodwill and Intangible Assets
 12 Months Ended
Jan. 31, 2025
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill was $440 million as of both January 31, 2025 and January 31, 2024.
The following table presents the details of intangible assets as of January 31, 2025 (dollar amounts in thousands):
Gross
carrying
amount
Accumulated
amortization
Net
Remaining
useful life
(in years)
Existing technology$28,580 $(24,878)$3,702 1.0
Customer relationships113,157 (73,223)39,934 4.5
Trade name and trademarks
13,900 (13,900)— 0.0
Other intangibles21,405 (20,581)824 1.8
Total intangible assets$177,042 $(132,582)$44,460 
The following table presents the details of intangible assets as of January 31, 2024 (dollar amounts in thousands):
Gross
carrying
amount		Accumulated
amortization		NetRemaining
useful life
(in years)
Existing technology$28,580 $(20,646)$7,934 2.0
Customer relationships113,157 (61,755)51,402 5.3
Trade name and trademarks
13,900 (11,925)1,975 0.8
Other intangibles21,405 (19,699)1,706 2.2
Total intangible assets$177,042 $(114,025)$63,017 
Amortization expense associated with intangible assets was $19 million for all the fiscal years ended January 31, 2025, 2024, and 2023.
As of January 31, 2025, the estimated future amortization expense for intangible assets is as follows (in thousands):
Fiscal YearEstimated
amortization
expense
Fiscal 2026$14,147 
Fiscal 20278,922 
Fiscal 20287,778 
Fiscal 20297,782 
Fiscal 20305,831 
Total$44,460 
 
v3.25.1
Accrued Expenses
 12 Months Ended
Jan. 31, 2025
Payables and Accruals [Abstract]  
Accrued Expenses Accrued Expenses
Accrued expenses consisted of the following as of the dates shown (in thousands):
January 31,
20252024
Accrued commissions$8,031 $9,848 
Accrued bonus3,391 3,481 
Accrued vacation (1)
7,017 7,375 
Payroll tax payable12,595 13,829 
Accrued other compensation and benefits8,395 8,900 
Total accrued compensation and benefits$39,429 $43,433 
Accrued fees payable to Salesforce, Inc.$6,414 $6,562 
Taxes payable8,697 7,632 
Other accrued expenses (2)
20,446 18,786 
Total accrued expenses and other current liabilities$35,557 $32,980 
(1) Represents accrued vacation primarily for international employees. Vacation does not accrue for most U.S. employees.
(2) Prior period balances were adjusted to conform with current period presentation.
v3.25.1
Fair Value Measurements
 12 Months Ended
Jan. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The carrying amounts of accounts receivable, 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 and liabilities measured at fair value on a recurring basis as of January 31, 2025 (in thousands):
Level 1
Level 2
Total
Assets
Cash equivalents:
Money market funds$314,872 $— $314,872 
U.S. Treasury securities— 3,301 3,301 
Short-term investments:
Certificates of deposit— 64,093 64,093 
Asset-backed securities— 530,011 530,011 
Commercial paper— 74,575 74,575 
Corporate notes and bonds— 2,206,956 2,206,956 
Foreign government bonds— 176,103 176,103 
Municipal securities— 67,831 67,831 
U.S. agency obligations— 24,709 24,709 
U.S. Treasury securities— 887,164 887,164 
Foreign currency derivative contracts— 96 96 
Total financial assets$314,872 $4,034,839 $4,349,711 
Liabilities
Foreign currency derivative contracts$— $(525)$(525)
Total financial liabilities$— $(525)$(525)
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, 2024 (in thousands):
Level 1
Level 2
Total
Assets
Cash equivalents:
Money market funds$73,197 $— $73,197 
U.S. Treasury securities— 9,969 9,969 
Short-term investments:
Certificates of deposit— 94,283 94,283 
Asset-backed securities— 606,981 606,981 
Commercial paper— 144,245 144,245 
Corporate notes and bonds— 1,585,029 1,585,029 
Foreign government bonds— 50,206 50,206 
Municipal securities
— 79,474 79,474 
U.S. agency obligations— 49,592 49,592 
U.S. Treasury securities— 714,459 714,459 
Foreign currency derivative contracts— 616 616 
Total financial assets$73,197 $3,334,854 $3,408,051 
Liabilities
Foreign currency derivative contracts$— $(232)$(232)
Total financial liabilities$— $(232)$(232)
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. Realized and unrealized foreign currency gains and losses on hedges were immaterial for the fiscal years ended January 31, 2025, 2024, and 2023.
The fair value of our outstanding derivative instruments is summarized below (in thousands): 
January 31,
20252024
Notional amount of foreign currency derivative contracts$130,122 $201,407 
Fair value of foreign currency derivative contracts$130,552 $201,024 
v3.25.1
Income Taxes
 12 Months Ended
Jan. 31, 2025
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,
202520242023
United States$890,066 $546,837 $482,885 
Foreign29,315 41,186 26,211 
Total$919,381 $588,023 $509,096 
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,
202520242023
Current provision:
Federal$243,660 $126,174 $110,610 
State62,953 29,361 29,775 
Foreign10,903 12,157 8,507 
Total current provision317,516 167,692 $148,892 
Deferred benefit
Federal(90,035)(87,651)(98,923)
State(18,569)(15,739)(20,755)
Foreign(3,669)(1,984)(7,824)
Total deferred benefit
(112,273)(105,374)$(127,502)
Income tax provision$205,243 $62,318 $21,390 
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, 2025, 2024, and 2023 to income before income taxes as a result of the following for the periods shown (in thousands):
Fiscal year ended January 31,
202520242023
Expected provision at statutory tax rate
$193,070 $123,485 $106,910 
State taxes, net of federal benefit
42,650 12,056 7,318 
Tax credits(35,416)(36,333)(33,463)
Stock-based compensation35,618 (32,054)(52,304)
Valuation allowance3,726 13,572 5,654 
Foreign derived intangible income deduction (FDII)(30,535)(15,489)(15,811)
Release of income tax reserves
(2,531)(9,201)(293)
Other
(1,339)6,282 3,379 
Income tax provision$205,243 $62,318 $21,390 
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,
20252024
Deferred tax assets:
Capitalized expenditures$326,533 $228,845 
Stock-based compensation68,466 49,710 
Tax credit carryforward64,536 65,307 
Lease liabilities19,737 13,967 
Other (1)
14,781 18,360 
Gross deferred tax assets494,053 376,189 
Valuation allowance(77,056)(79,056)
Total deferred tax assets416,997 297,133 
Deferred tax liabilities:
Intangible assets(23,305)(27,019)
Lease right-of-use assets(16,675)(11,410)
Other (1)
(33,685)(27,293)
Total deferred tax liabilities(73,665)(65,722)
Net deferred tax assets$343,332 $231,411 
(1) Prior period balances were adjusted to conform with current period presentation.
In assessing the need for a valuation allowance, the Company considers all positive and negative evidence, including recent financial performance, scheduled reversals of temporary differences and projected future taxable income. Based on a review of such information, management believes that it is possible that some portion of deferred tax assets will not be realized as a future benefit and therefore has recorded a valuation allowance. The valuation allowance at the end of January 31, 2025 was primarily related to certain U.S. state deferred tax assets.
As of January 31, 2025, the net operating loss carryforwards for state and foreign income tax purposes were approximately $13 million and $2 million, respectively, and will begin to expire in 2031 and 2030, respectively. As of January 31, 2025, we had $3 million of federal and state capital loss carryforwards available to offset future capital gains. The federal and state capital losses begin to expire in 2029.
As of January 31, 2025, we had $78 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, 2025, the total amount of gross unrecognized tax benefits was $39 million, of which $25 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,
202520242023
Beginning balance$39,737 $30,713 $25,241 
Increases related to tax positions taken during the prior period2 7,385 971 
Increases related to tax positions taken during the current period4,242 10,131 4,934 
Decreases related to tax positions taken during the prior period(101)(17)(137)
Lapse of statute of limitations(4,478)(8,475)(296)
Ending balance$39,402 $39,737 $30,713 
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 $3 million as of January 31, 2025, 2024, and 2023, respectively.
We file tax returns in the United States for federal, California, and other states. Fiscal years ended January 31, 2022 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, 2020 and forward remain open to examination in these foreign jurisdictions.
v3.25.1
Deferred Revenue, Performance Obligations, and Unbilled Accounts Receivable
 12 Months Ended
Jan. 31, 2025
Revenue Recognition and Deferred Revenue [Abstract]  
Deferred Revenue, Performance Obligations, and Unbilled Accounts Receivable Deferred Revenue, Performance Obligations, and Unbilled Accounts Receivable
Deferred Revenue
Of the beginning deferred revenue balance for the respective periods, we recognized $1,028 million, $833 million, and $708 million in revenue for the fiscal years ended January 31, 2025, 2024, and 2023, respectively.
Transaction Price Allocated to the Remaining Performance Obligations
As of January 31, 2025, the amount of the transaction price allocated to remaining performance obligations for noncancellable subscription services contracts greater than one year was not significant with the substantial majority of such allocated transaction price included in deferred revenue and expected to be recognized over the next 12 months.
Unbilled Accounts Receivable
As of January 31, 2025, unbilled accounts receivable consisted of (i) a receivable of $33 million primarily for revenue recognized for professional services performed but not yet billed and (ii) a contract asset of $8 million primarily related to professional services performed but for which we are not contractually able to invoice until a future period.
As of January 31, 2024, unbilled accounts receivable consisted of (i) a receivable of $32 million primarily for revenue recognized for professional services performed but not yet billed and (ii) a contract asset of $4 million primarily related to professional services performed but for which we are not contractually able to invoice until a future period.
v3.25.1
Leases
 12 Months Ended
Jan. 31, 2025
Leases [Abstract]  
Leases Leases
We have operating leases for our corporate offices with various expiration dates, some of which include options to extend the leases for up to seven years.
For the fiscal years ended January 31, 2025, 2024, and 2023, our operating lease expense was $14 million, $16 million, and $16 million, respectively.
Supplemental cash flow information related to leases was as follows (in thousands):
Fiscal year ended January 31,
20252024
Cash paid for lease liabilities
$12,522 $10,291 
Lease right-of-use assets obtained in exchange for new lease liabilities
$30,866 $3,700 
Supplemental balance sheet information related to operating leases was as follows:
January 31,
20252024
Weighted average remaining lease term
7.7 years6.6 years
Weighted average discount rate
4.6 %4.4 %
As of January 31, 2025, remaining maturities of operating lease liabilities are as follows (in thousands):
Fiscal Year
Fiscal 2026$8,818 
Fiscal 202713,451 
Fiscal 202814,101 
Fiscal 202910,653 
Fiscal 20309,847 
Thereafter36,041 
Total lease payments
92,911 
Less imputed interest(17,136)
Total lease liabilities
$75,775 
v3.25.1
Stockholders' Equity
 12 Months Ended
Jan. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stockholders' Equity Stockholders’ Equity
Common Stock
As of January 31, 2025 and 2024, we had 162,583,789 and 161,260,172 shares of common stock outstanding, respectively.
Voting Rights
The holders of our common stock are entitled to one vote per share.
Stockholders do not have the ability to cumulate votes for the election of directors. Our certificate of incorporation and bylaws provide for a declassified board of directors, with annual election of directors, serving a one-year term.
Dividend Rights
Subject to preferences that may apply to shares of preferred stock outstanding at the time, the 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.
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.
Employee Equity Plans
Pursuant to our equity compensation program, the vast majority of our employees are granted RSUs, which typically vest over a one-year period, and stock options, which typically vest over a four-year period.
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. 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, 2025, the number of shares of our common stock available for issuance under the 2013 EIP was 47,283,077. 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 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, 2025, our board of directors determined to add 6,450,406 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 common stock for future issuance under various terms provided for in the ESPP. As of January 31, 2025, 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 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, 2025, 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 common stock on the first day of the applicable offering period or the fair market value of our 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 2013 EIP provides for the issuance of incentive and nonstatutory options to employees, consultants and non-employee directors. Options issued under the 2013 EIP generally are exercisable for periods not to exceed ten years and generally vest over four years, with certain options vesting over five to seven years.
A summary of stock option activity for the fiscal year ended January 31, 2025 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, 202411,147,810 $157.20 6.7$626 
Options granted4,759,152 $226.45 
Options exercised(673,079)$156.79 
Options forfeited/cancelled(599,962)$208.88 
Options outstanding at January 31, 202514,633,921 $177.65 6.8$860 
Options vested and exercisable at January 31, 20256,331,044 $130.97 4.5$676 
Options vested and exercisable at January 31, 2025 and expected to vest thereafter14,633,921 $177.65 6.8$860 
The options granted during the fiscal year ended January 31, 2025 consisted primarily of a grant made to our Chief Executive Officer and grants made in connection with our annual performance review cycle. The weighted average grant-date fair value of options granted was $80.69, $81.17, and $88.25 per option for the fiscal years ended January 31, 2025, 2024, and 2023, respectively.
As of January 31, 2025, there was $466 million in unrecognized compensation cost related to unvested stock options granted under the 2013 Equity Incentive Plan. This cost is expected to be recognized over a weighted average period of 2.4 years.
The total intrinsic value of options exercised was approximately $45 million for the fiscal year ended January 31, 2025.
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,
202520242023
Volatility39%-41%39%-41%37%-40%
Expected term (in years)5.5-7.66.3-7.06.0-7.0
Risk-free interest rate3.46%-4.65%3.34%-4.73%1.90%-4.20%
Dividend yield—%—%—%

During the fiscal year ended January 31, 2025, we granted our Chief Executive Officer options to purchase an aggregate of 2,650,000 shares of our common stock at an exercise price of $236.90 per share, which was equal to the Company’s 52-week high trading price at the time of grant. The stock option will vest in five equal increments on February 1 of 2026 through 2030, subject to Mr. Gassner’s continuous service as Chief Executive Officer through each annual vesting date. In addition, no portion of the stock option will be exercisable unless the closing price of the Company’s common stock is sustained at or above $236.90 per share for a period of sixty consecutive trading days during the vesting period between February 1, 2025 and February 1, 2030. The grant date fair value of the stock option of approximately $172 million was calculated using a Monte Carlo simulation model and the following table provides the assumptions used in the simulation:
Volatility39%
Expected term (in years)7.6
Risk-free interest rate4.18%
Dividend yield—%
Restricted Stock Units
The 2013 EIP provides for the issuance of restricted stock unit (RSUs) to employees. RSUs issued under the 2013 EIP generally vest over a period of one year.
A summary of RSU activity for the fiscal year ended January 31, 2025 is as follows:
Unreleased restricted
stock units
Weighted 
average grant
date fair value
Balance at January 31, 20241,011,731 $192.77 
RSUs granted989,174 $213.04 
RSUs vested(1,030,545)$199.52 
RSUs forfeited/cancelled(90,334)$206.10 
Balance at January 31, 2025880,026 $206.25 
As of January 31, 2025, there was a total of $84 million in unrecognized compensation cost related to unvested RSUs. This cost is expected to be recognized over a weighted-average period of approximately 1.1 years. The total grant date fair value of RSUs vested for the fiscal year ended January 31, 2025 was $215 million.
v3.25.1
Other Income
 12 Months Ended
Jan. 31, 2025
Other Income and Expenses [Abstract]  
Other Income Other Income
Other income, net, consisted of the following (in thousands):
Fiscal year ended January 31,
202520242023
Foreign currency (loss) gain$(3,274)$124 $591 
Accretion on investments22,622 24,817 2,982 
Interest income, net207,987 133,748 45,860 
Miscellaneous income
611 — 572 
Other income, net$227,946 $158,689 $50,005 
v3.25.1
Net Income per Share
 12 Months Ended
Jan. 31, 2025
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.
On October 15, 2023, all of our outstanding shares of Class B common stock automatically converted into the same number of shares of Class A common stock pursuant to the terms of our then effective Amended and Restated Certificate of Incorporation. Because shares of Class B common stock were outstanding for a portion of the fiscal year ended January 31, 2024, we have disclosed earnings per share for Class A and Class B common stock for the fiscal year ended January 31, 2024. For the fiscal years ended January 31, 2024 and 2023, 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,
202520242023
Common
Class AClass BClass AClass B
Basic
Numerator
Net income, basic$714,138 $491,747 $33,958 $441,425 $46,281 
Denominator
Weighted average shares used in computing net income per share, basic161,879 150,162 10,370 140,640 14,745 
Net income per share, basic$4.41 $3.27 $3.27 $3.14 $3.14 
Diluted
Numerator
Net income, basic$714,138 $491,747 $33,958 $441,425 $46,281 
Reallocation as a result of conversion of Class B to Class A common stock:
Net income, basic— 33,958 — 46,281 — 
Reallocation of net income to Class B common stock— — 8,887 — 19,163 
Net income, diluted$714,138 $525,705 $42,845 $487,706 $65,444 
Denominator
Number of shares used for basic net income per share computation161,879 150,162 10,370 140,640 14,745 
Conversion of Class B to Class A common stock— 10,370 — 14,745 — 
Effect of potentially dilutive common shares3,353 2,954 2,954 7,052 7,052 
Weighted average shares used in computing net income per share, diluted165,232 163,486 13,324 162,437 21,797 
Net income per share, diluted$4.32 $3.22 $3.22 $3.00 $3.00 
Potential common share equivalents excluded where the inclusion would be anti-dilutive are as follows (in thousands):
Fiscal year ended January 31,
202520242023
Options and RSUs
8,609 6,083 3,945 
v3.25.1
Commitments and Contingencies
 12 Months Ended
Jan. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Litigation
IQVIA Litigation Matters
IQVIA and Veeva have been involved in litigation since 2017. On January 10, 2017, IQVIA Inc. and IMS Software Services, Ltd. (collectively, IQVIA) filed a claim in the U.S. District Court for the District of New Jersey alleging that, among other things, we misappropriated trade secrets related to proprietary IQVIA data in violation of federal and state law and seeking declaratory and injunctive relief and unspecified monetary damages (IQVIA Inc. v. Veeva Systems Inc. (No. 2:17-cv-00177)). On July 17, 2019, IQVIA also filed in the U.S. District Court for the District of New Jersey an action seeking declaratory judgement that IQVIA is not liable to Veeva for disallowing use of IQVIA data in Veeva software products (IQVIA Inc. v. Veeva Systems Inc. (No. 2:19-cv-15517)). We filed counterclaims in the first case as well as a complaint against IQVIA in the U.S. District Court for the Northern District of California alleging that, among other things, IQVIA has violated federal and state antitrust laws with respect to certain limits on access to and use of IQVIA data by Veeva and Veeva customers and seeking injunctive relief, monetary damages exceeding $200 million, and attorneys’ fees. These cases are currently before the same judge in the U.S. District Court for the District of New Jersey.
Fact and expert discovery in these cases is largely complete. The presiding federal district court has bifurcated the claims for trial such that IQVIA's trade secret claims will go to trial first, but no trial date has been set. In September 2024, the parties filed cross motions for summary judgment on the trade secret claims and hearings on the motions were held on January 21 and January 28, 2025. No ruling has been issued.
While it is not possible at this time to predict with any degree of certainty the ultimate outcome of these lawsuits, and we are unable to make a meaningful estimate of the amount or range of gain or loss, if any, that could result from them, we believe that we have substantial defenses against IQVIA’s claims, which we intend to vigorously contest, and that our counterclaims warrant injunctive relief and monetary damages for Veeva.
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. We are unable to make an estimate of any liability we may have in connection with this arrangement and accordingly have not accrued any related liability at this time.
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.
v3.25.1
Segment Information
 12 Months Ended
Jan. 31, 2025
Segment Reporting [Abstract]  
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 (CEO). Our CEO reviews the financial information presented on a consolidated basis for purposes of allocating resources and evaluating our financial performance. Accordingly, the Company operates as a single operating and reportable segment that is focused on providing industry cloud solutions tailored to the global life sciences industry.
The CEO gauges the effectiveness of investment and resourcing decisions and trends in the overall efficiency of the business over time using multiple measures of performance, including consolidated net income and adjusted operating income, which is an additional measure of our segment profitability. The measure of segment assets is reported on the consolidated balance sheets as total assets.
The following table reconciles the Company’s revenues to consolidated net income and the specific items excluded from cost of revenues and operating expenses to calculate adjusted operating income (in thousands):
Fiscal year ended January 31,
202520242023
Revenues
$2,746,619 $2,363,673 $2,155,060 
Cost of revenues - adjusted:
Cost of subscription services revenues
312,169 279,626 246,909 
Cost of professional services and other revenues
324,639 332,927 300,879 
Operating expenses - adjusted:
Research and development
507,092 456,041 378,594 
Sales and marketing
293,105 276,505 247,077 
General and administrative
157,271 176,048 151,139 
Operating income - adjusted
1,152,343 842,526 830,462 
Other segment items (1)
460,908 413,192 371,371 
Other income, net
227,946 158,689 50,005 
Provision for income taxes
205,243 62,318 21,390 
Consolidated net income
$714,138 $525,705 $487,706 
(1) Other segment items included in consolidated net income consist primarily of stock-based compensation expense and amortization of purchased intangibles.
Cost of revenues - adjusted, and operating expenses - adjusted, are segment expenses that are regularly provided to the CEO and do not include stock-based compensation, amortization of purchased intangibles, and litigation settlement expenses, as we exclude them from our internal management reporting processes. We find it useful to exclude these expenses when we assess the appropriate level of various operating expenses and resource allocations when budgeting, planning, and forecasting future periods.
v3.25.1
Information about Geographic Areas and Products
 12 Months Ended
Jan. 31, 2025
Revenue from Contract with Customer [Abstract]  
Information about Geographic Areas and Products Information about Geographic Areas and Products
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,
202520242023
Revenues by geography
North America$1,621,697 $1,387,425 $1,253,760 
Europe790,777 662,560 598,828 
Asia Pacific265,735 250,600 244,655 
Middle East, Africa, and Latin America68,410 63,088 57,817 
Total revenues$2,746,619 $2,363,673 $2,155,060 
Long-lived assets by geographic area are as follows as of the periods shown below (in thousands):
January 31,
20252024
Long-lived assets by geography
North America$47,144 $49,725 
Europe6,778 6,885 
Asia Pacific1,295 751 
Middle East, Africa, and Latin America695 1,171 
Total long-lived assets$55,912 $58,532 
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 Data Cloud solutions. R&D Solutions revenues consist of revenues from our Veeva Development Cloud, Veeva Quality Cloud, Veeva RegulatoryOne, and Veeva QualityOne solutions.
Total revenues consist of the following (in thousands):
Fiscal year ended January 31,
202520242023
Subscription services
Commercial Solutions$1,104,888 $995,803 $946,252 
R&D Solutions1,179,771 905,790 786,750 
Total subscription services2,284,659 1,901,593 1,733,002 
Professional services
Commercial Solutions185,302 185,981 177,188 
R&D Solutions276,658 276,099 244,870 
Total professional services461,960 462,080 422,058 
Total revenues$2,746,619 $2,363,673 $2,155,060 
v3.25.1
401(k) Plan
 12 Months Ended
Jan. 31, 2025
Retirement Benefits [Abstract]  
401(k) Plan 401(k) Plan
We 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. Prior to January 1, 2025, we matched up to $2,000 per employee per year under the 401(k) plan. Beginning January 1, 2025, under the updated plan, we match up to $4,000 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, 2025, 2024, and 2023, total expense related to these plans was $10 million, $9 million, and $8 million, respectively.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Pay vs Performance Disclosure      
Net income $ 714,138 $ 525,705 $ 487,706
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Jan. 31, 2025
shares
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
Name and TitleAction
(Adoption / Termination)		Adoption / Termination Date
Aggregate Number of Shares of Common Stock to be Sold (1)
Expiration Date (2)
Josh Faddis
SVP, General Counsel and Secretary
Adoption12/19/202417,655 4/1/2026
Tom Schwenger
President and Chief Customer Officer
Adoption1/7/20258,300 4/10/2026
(1) This number represents the maximum number of shares of common stock that may be sold pursuant to the trading plan. The number of shares actually sold will depend on the satisfaction of certain conditions as set forth in the plan.
(2) In each case, the trading plan may expire on an earlier date if and when all transactions thereunder are completed.
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Josh Faddis [Member]  
Trading Arrangements, by Individual  
Name Josh Faddis
Title SVP, General Counsel and Secretary
Rule 10b5-1 Arrangement Adopted true
Adoption Date 12/19/2024
Expiration Date 4/1/2026
Arrangement Duration 468 days
Aggregate Available 17,655
Tom Schwenger [Member]  
Trading Arrangements, by Individual  
Name Tom Schwenger
Title President and Chief Customer Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date 1/7/2025
Expiration Date 4/10/2026
Arrangement Duration 458 days
Aggregate Available 8,300
v3.25.1
Insider Trading Policies and Procedures
 12 Months Ended
Jan. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Jan. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Information Security Management System
We maintain a comprehensive Information Security Management System (ISMS) that is designed to ensure the confidentiality, integrity, and availability of customer data, corporate data (such as intellectual property or source code), employee data, and our systems. Our ISMS is founded on the following industry-leading and regulatory standards:
•ISO 9001:2015 – Quality Management Systems
•ISO/IEC 27001:2013 – Information Security Management
•SOC2 Type II – System and Organization Controls
•SEI Capability Maturity Model Integration (v1.3)
•IT Infrastructure Library (ITIL) version 3
•ICH Q9 – Quality Risk Management
We have achieved ISO 27001 certification for our ISMS, which is managed by our CISO. As a data processor, we are the custodian of customer information that can be both confidential and sensitive. We are also certified to ISO 27018 for privacy controls.
Critical elements of our ISMS include:
•Operational measures to monitor and respond to data breaches and cyberattacks. We have application, database, network, and resource monitoring in place that are designated to identify vulnerabilities, protect our applications, and alert incident response personnel. Security incidents are addressed by our Security Incident Management Policy, which includes a formal incident response process. We also provide a trust site that displays upcoming maintenance downtimes, data center incidents, and relevant security communications.
•Preventative measures to hinder or limit cyberattacks. We procure, develop, deploy, and maintain preventative solutions and follow preventative practices for our corporate IT and product engineering infrastructures, as well as the production infrastructure that processes our customer data. These solutions and practices include identity and access management, separation of duties, secure software development, network and data security, and system hardening.
•Vulnerability and penetration testing. We commission annual vulnerability and penetration testing of certain systems by industry-recognized, third-party security specialists. In addition, our software products undergo internal vulnerability testing using automated and manual methods prior to general availability.
•Training. We require role-based security and security awareness training. All employees receive annual training on our Code of Conduct and our Acceptable Use Policy, which establishes our commitment to protecting the confidential and proprietary information of our customers and partners. In addition, all new hires and contractors must undergo information security awareness training. Subsequent security awareness training is required annually for all active employees and contractors. Employees are trained to promptly report security incidents. Employees in certain roles (e.g., customer support representatives, developers, and hiring managers) receive more extensive data and application security training annually.
•Disaster recovery and business continuity. Our solutions are designed to help avoid single points of failure to reduce the chance of business disruption from security breaches, incidents, and other disruptions of systems. We maintain formally documented recovery processes that may be activated in the event of a significant business disruption of our corporate IT infrastructure or the production infrastructure that processes our customer data. We conduct testing, at least annually, to verify the validity of the recovery processes and provide reports on the test results for production infrastructure that processes our customer data to customers via access to a customer portal.
Process for Identifying Material Cybersecurity Incidents
Potentially material cybersecurity incidents are escalated according to our Security Incident Management Policy to a management response team comprising our EVP of Internal Operations, Chief Financial Officer, Chief Accounting Officer, General Counsel, Chief Privacy Officer, and Associate General Counsel (Corporate). Our Security Incident Management Policy is designed to inform the management response team about, and monitor, the prevention, detection, mitigation, and remediation of cybersecurity incidents. The management response team is responsible for timely determining materiality and overseeing the appropriate reporting of certain cybersecurity incidents.
Cybersecurity risks, including as a result of any previous cybersecurity incidents, have not materially affected and are not reasonably likely to materially affect our business strategy, results of operations, or financial condition. For additional information regarding risks from cybersecurity threats that we face, and regarding our likelihood of being materially affected by risks from cybersecurity threats, please see Item 1A, “Risk Factors”.
Supplier Management Program
Through our Supplier Management Program, we maintain procedures that specify requirements for the assessment of suppliers and contractors who provide services that may impact our product and process quality. These procedures allow us to identify risks from potential cybersecurity incidents associated with our use of products and services from these suppliers and ensure that there is an appropriate level of oversight of our vendors’ quality systems. We perform initial audits and then periodic, risk-based audits on our suppliers to ensure their products and services conform to our established quality standards.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] Cybersecurity risk management is integrated into our broader risk management framework. We have a security points of contact program, which embeds security experts into product development, services, and IT teams. In addition, a security council, chaired by our CISO, meets monthly to discuss the security program, security incidents, and ongoing program objectives. The council is comprised of senior leaders in product development, operations, security, quality, and services, and helps ensure that security remains a top priority across the enterprise.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] Our board of directors formed a Cybersecurity Committee to exercise oversight over our cybersecurity and privacy programs and controls for our products and our internal-use information technology. The Cybersecurity Committee is chaired by a director with cybersecurity expertise and board and executive experience at large technology companies. The Cybersecurity Committee receives reports from management on a regular basis on a range of topics, including the current cybersecurity landscape and emerging threats, the status of ongoing cybersecurity initiatives, incident reports from cybersecurity and privacy events, data privacy policies and procedures, and compliance with regulatory requirements and industry standards.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Our board of directors formed a Cybersecurity Committee to exercise oversight over our cybersecurity and privacy programs and controls for our products and our internal-use information technology. The Cybersecurity Committee is chaired by a director with cybersecurity expertise and board and executive experience at large technology companies. The Cybersecurity Committee receives reports from management on a regular basis on a range of topics, including the current cybersecurity landscape and emerging threats, the status of ongoing cybersecurity initiatives, incident reports from cybersecurity and privacy events, data privacy policies and procedures, and compliance with regulatory requirements and industry standards.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The Cybersecurity Committee receives reports from management on a regular basis on a range of topics, including the current cybersecurity landscape and emerging threats, the status of ongoing cybersecurity initiatives, incident reports from cybersecurity and privacy events, data privacy policies and procedures, and compliance with regulatory requirements and industry standards.
Cybersecurity Risk Role of Management [Text Block]
Our day-to-day cybersecurity and technology risk management efforts, including oversight of our information security management system, are led by our EVP of Internal Operations, a member of our executive leadership team with over three decades of experience in the field, whose cybersecurity experience includes serving as our Chief Information Officer and in executive roles at other companies leading security, operations, audit, and compliance teams. Our Chief Information Security Officer (CISO), who has over two decades of experience in cybersecurity, including over five years at Veeva, reports to the EVP of Internal Operations and oversees our security team. Our CISO’s cybersecurity experience includes serving as a security architect and Director of Security Engineering at Veeva, and overseeing security, automation, and performance testing for other technology companies.
Cybersecurity risk management is integrated into our broader risk management framework. We have a security points of contact program, which embeds security experts into product development, services, and IT teams. In addition, a security council, chaired by our CISO, meets monthly to discuss the security program, security incidents, and ongoing program objectives. The council is comprised of senior leaders in product development, operations, security, quality, and services, and helps ensure that security remains a top priority across the enterprise.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
Our day-to-day cybersecurity and technology risk management efforts, including oversight of our information security management system, are led by our EVP of Internal Operations, a member of our executive leadership team with over three decades of experience in the field, whose cybersecurity experience includes serving as our Chief Information Officer and in executive roles at other companies leading security, operations, audit, and compliance teams. Our Chief Information Security Officer (CISO), who has over two decades of experience in cybersecurity, including over five years at Veeva, reports to the EVP of Internal Operations and oversees our security team. Our CISO’s cybersecurity experience includes serving as a security architect and Director of Security Engineering at Veeva, and overseeing security, automation, and performance testing for other technology companies.
Cybersecurity risk management is integrated into our broader risk management framework. We have a security points of contact program, which embeds security experts into product development, services, and IT teams. In addition, a security council, chaired by our CISO, meets monthly to discuss the security program, security incidents, and ongoing program objectives. The council is comprised of senior leaders in product development, operations, security, quality, and services, and helps ensure that security remains a top priority across the enterprise.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our Chief Information Security Officer (CISO), who has over two decades of experience in cybersecurity, including over five years at Veeva, reports to the EVP of Internal Operations and oversees our security team. Our CISO’s cybersecurity experience includes serving as a security architect and Director of Security Engineering at Veeva, and overseeing security, automation, and performance testing for other technology companies.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] We have a security points of contact program, which embeds security experts into product development, services, and IT teams. In addition, a security council, chaired by our CISO, meets monthly to discuss the security program, security incidents, and ongoing program objectives. The council is comprised of senior leaders in product development, operations, security, quality, and services, and helps ensure that security remains a top priority across the enterprise.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.1
Summary of Business and Significant Accounting Policies (Policies)
 12 Months Ended
Jan. 31, 2025
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, 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) through 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, regulatory, quality, and safety functions help life sciences companies streamline their end-to-end product development and quality and manufacturing processes to increase operational efficiency and maintain regulatory compliance throughout the product life cycle. Our solutions for clinical research sites enable regulatory documents and trial information to be managed in a modern cloud solution that is intended to accelerate the clinical research process for the life sciences industry overall. 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.
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.
Subscription Services Revenues
Subscription services revenues are recognized ratably over the respective noncancellable 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. Business consulting services, 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 represent 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 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 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 amortized 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 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 Credit Losses
Accounts Receivable and Allowance for Credit Losses
Accounts receivable are recorded at the invoiced amount, net of allowance for credit losses.
Property and Equipment
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.
Leases
Leases
We have operating leases for corporate offices.
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 sheets; 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. Internal-use software is included in other long-term assets on the consolidated balance sheets.
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 completed our annual impairment test in our fourth quarter of the fiscal year ended January 31, 2025. There were no goodwill impairment charges during any of the periods presented.
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 is included in cost of subscription services. Amortization expense related to customer relationships and trade names and trademarks is 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. 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. Compensation expense for awards with service conditions is recognized on a straight-line basis and for awards with market conditions is recognized on a graded vesting attribution method over the requisite service periods.
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 costs, and costs of delivering our data solutions, 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, and projected future taxable income. 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 income tax provision.
Foreign Currency Exchange
Foreign Currency Exchange
Assets and liabilities of foreign subsidiaries that do not have U.S. dollars as their functional currency are translated into U.S. dollars 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. The resulting translation adjustments are recorded as part of a separate component of the consolidated statements of comprehensive income. 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. 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.
Recently Adopted Accounting Pronouncements and New Accounting Pronouncements Issued and Not yet Adopted
Recently Adopted Accounting Pronouncements
Improvements to Reportable Segment Disclosures
In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. We adopted the new standard during the year ended January 31, 2025.
New Accounting Pronouncements Issued and Not Yet Adopted
Improvements to Income Tax Disclosures
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disaggregation of rate reconciliation categories and income taxes paid by jurisdiction, among other amendments. This new standard is effective for our fiscal year beginning on February 1, 2025 on a prospective basis and retrospective application is permitted. We are currently evaluating this ASU to determine its impact on our disclosures.
Disaggregation of Income Statement Expenses
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosure (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires disclosure, in the notes to the financial statements, of additional information about certain costs and expenses for interim and annual reporting periods. This new standard is effective for our fiscal year beginning on February 1, 2027 and interim periods beginning on February 1, 2028 on a prospective basis and retrospective application is permitted. We are currently evaluating this ASU to determine its impact on our disclosures.
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
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.
On October 15, 2023, all of our outstanding shares of Class B common stock automatically converted into the same number of shares of Class A common stock pursuant to the terms of our then effective Amended and Restated Certificate of Incorporation. Because shares of Class B common stock were outstanding for a portion of the fiscal year ended January 31, 2024, we have disclosed earnings per share for Class A and Class B common stock for the fiscal year ended January 31, 2024. For the fiscal years ended January 31, 2024 and 2023, 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.
v3.25.1
Summary of Business and Significant Accounting Policies (Tables)
 12 Months Ended
Jan. 31, 2025
Accounting Policies [Abstract]  
Schedule of Certain Risks and Concentrations of Credit Risk
The following customer exceeded 10% of total accounts receivable as of the dates shown:
January 31,
20252024
Customer 110.1%10.1%
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,
20252024
Land$3,040 $3,040 
Building20,984 20,984 
Land improvements and building improvements22,392 22,392 
Equipment and computers1,483 2,551 
Furniture and fixtures6,288 15,498 
Leasehold improvements30,186 30,793 
Construction in progress2,992 31 
Property and equipment, gross
87,365 95,289 
Less accumulated depreciation(31,453)(36,757)
Total property and equipment, net$55,912 $58,532 
v3.25.1
Short-Term Investments (Tables)
 12 Months Ended
Jan. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Short-Term Investments
As of January 31, 2025, 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 deposit
$64,045 $69 $(21)$64,093 
Asset-backed securities526,986 3,257 (232)530,011 
Commercial paper74,468 108 (1)74,575 
Corporate notes and bonds2,202,150 10,588 (5,782)2,206,956 
Foreign government bonds176,684 442 (1,023)176,103 
Municipal securities
67,780 173 (122)67,831 
U.S. agency obligations24,616 94 (1)24,709 
U.S. treasury securities888,968 1,440 (3,244)887,164 
Total available-for-sale securities$4,025,697 $16,171 $(10,426)$4,031,442 
As of January 31, 2024, 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 deposit
$94,210 $87 $(14)$94,283 
Asset-backed securities605,852 2,916 (1,787)606,981 
Commercial paper144,218 47 (20)144,245 
Corporate notes and bonds1,581,382 8,835 (5,188)1,585,029 
Foreign government bonds50,180 206 (180)50,206 
Municipal securities
79,404 301 (231)79,474 
U.S. agency obligations49,372 232 (12)49,592 
U.S. treasury securities717,015 1,268 (3,824)714,459 
Total available-for-sale securities$3,321,633 $13,892 $(11,256)$3,324,269 
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,
20252024
Due in one year or less$1,066,558 $919,871 
Due in greater than one year2,964,884 2,404,398 
Total$4,031,442 $3,324,269 
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, 2025 (in thousands):
12 months or less
Greater than 12 months
Fair
value		Gross
unrealized
losses		Fair
value		Gross
unrealized
losses
Certificates of deposit
$20,095 $(21)$— $— 
Asset-backed securities25,220 (31)44,789 (201)
Commercial paper4,944 (1)— — 
Corporate notes and bonds616,379 (5,569)71,331 (213)
Foreign government bonds76,856 (1,023)— — 
Municipal securities22,593 (122)— — 
U.S. agency obligations1,865 (1)— — 
U.S. treasury securities439,382 (3,072)173,071 (172)
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, 2024 (in thousands):
12 months or less
Greater than 12 months
Fair
value
Gross
unrealized
losses
Fair ValueGross unrealized losses
Certificates of deposit
$22,465 $(14)$— $— 
Asset-backed securities120,543 (343)105,419 (1,444)
Commercial paper70,037 (20)— — 
Corporate notes and bonds394,823 (1,560)280,092 (3,628)
Foreign government bonds8,915 (19)9,784 (161)
Municipal securities
31,418 (122)13,686 (109)
U.S. agency obligations1,795 (3)4,991 (9)
U.S. treasury securities280,946 (1,227)204,274 (2,597)
v3.25.1
Property and Equipment, Net (Tables)
 12 Months Ended
Jan. 31, 2025
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,
20252024
Land$3,040 $3,040 
Building20,984 20,984 
Land improvements and building improvements22,392 22,392 
Equipment and computers1,483 2,551 
Furniture and fixtures6,288 15,498 
Leasehold improvements30,186 30,793 
Construction in progress2,992 31 
Property and equipment, gross
87,365 95,289 
Less accumulated depreciation(31,453)(36,757)
Total property and equipment, net$55,912 $58,532 
v3.25.1
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Jan. 31, 2025
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Schedule of Details of Intangible Assets
The following table presents the details of intangible assets as of January 31, 2025 (dollar amounts in thousands):
Gross
carrying
amount
Accumulated
amortization
Net
Remaining
useful life
(in years)
Existing technology$28,580 $(24,878)$3,702 1.0
Customer relationships113,157 (73,223)39,934 4.5
Trade name and trademarks
13,900 (13,900)— 0.0
Other intangibles21,405 (20,581)824 1.8
Total intangible assets$177,042 $(132,582)$44,460 
The following table presents the details of intangible assets as of January 31, 2024 (dollar amounts in thousands):
Gross
carrying
amount		Accumulated
amortization		NetRemaining
useful life
(in years)
Existing technology$28,580 $(20,646)$7,934 2.0
Customer relationships113,157 (61,755)51,402 5.3
Trade name and trademarks
13,900 (11,925)1,975 0.8
Other intangibles21,405 (19,699)1,706 2.2
Total intangible assets$177,042 $(114,025)$63,017 
Schedule of Estimated Future Amortization Expense
As of January 31, 2025, the estimated future amortization expense for intangible assets is as follows (in thousands):
Fiscal YearEstimated
amortization
expense
Fiscal 2026$14,147 
Fiscal 20278,922 
Fiscal 20287,778 
Fiscal 20297,782 
Fiscal 20305,831 
Total$44,460 
 
v3.25.1
Accrued Expenses (Tables)
 12 Months Ended
Jan. 31, 2025
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses
Accrued expenses consisted of the following as of the dates shown (in thousands):
January 31,
20252024
Accrued commissions$8,031 $9,848 
Accrued bonus3,391 3,481 
Accrued vacation (1)
7,017 7,375 
Payroll tax payable12,595 13,829 
Accrued other compensation and benefits8,395 8,900 
Total accrued compensation and benefits$39,429 $43,433 
Accrued fees payable to Salesforce, Inc.$6,414 $6,562 
Taxes payable8,697 7,632 
Other accrued expenses (2)
20,446 18,786 
Total accrued expenses and other current liabilities$35,557 $32,980 
(1) Represents accrued vacation primarily for international employees. Vacation does not accrue for most U.S. employees.
(2) Prior period balances were adjusted to conform with current period presentation.
v3.25.1
Fair Value Measurements (Tables)
 12 Months Ended
Jan. 31, 2025
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 and liabilities measured at fair value on a recurring basis as of January 31, 2025 (in thousands):
Level 1
Level 2
Total
Assets
Cash equivalents:
Money market funds$314,872 $— $314,872 
U.S. Treasury securities— 3,301 3,301 
Short-term investments:
Certificates of deposit— 64,093 64,093 
Asset-backed securities— 530,011 530,011 
Commercial paper— 74,575 74,575 
Corporate notes and bonds— 2,206,956 2,206,956 
Foreign government bonds— 176,103 176,103 
Municipal securities— 67,831 67,831 
U.S. agency obligations— 24,709 24,709 
U.S. Treasury securities— 887,164 887,164 
Foreign currency derivative contracts— 96 96 
Total financial assets$314,872 $4,034,839 $4,349,711 
Liabilities
Foreign currency derivative contracts$— $(525)$(525)
Total financial liabilities$— $(525)$(525)
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, 2024 (in thousands):
Level 1
Level 2
Total
Assets
Cash equivalents:
Money market funds$73,197 $— $73,197 
U.S. Treasury securities— 9,969 9,969 
Short-term investments:
Certificates of deposit— 94,283 94,283 
Asset-backed securities— 606,981 606,981 
Commercial paper— 144,245 144,245 
Corporate notes and bonds— 1,585,029 1,585,029 
Foreign government bonds— 50,206 50,206 
Municipal securities
— 79,474 79,474 
U.S. agency obligations— 49,592 49,592 
U.S. Treasury securities— 714,459 714,459 
Foreign currency derivative contracts— 616 616 
Total financial assets$73,197 $3,334,854 $3,408,051 
Liabilities
Foreign currency derivative contracts$— $(232)$(232)
Total financial liabilities$— $(232)$(232)
Schedule of Fair Value of Outstanding Derivative Instruments
The fair value of our outstanding derivative instruments is summarized below (in thousands): 
January 31,
20252024
Notional amount of foreign currency derivative contracts$130,122 $201,407 
Fair value of foreign currency derivative contracts$130,552 $201,024 
v3.25.1
Income Taxes (Tables)
 12 Months Ended
Jan. 31, 2025
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,
202520242023
United States$890,066 $546,837 $482,885 
Foreign29,315 41,186 26,211 
Total$919,381 $588,023 $509,096 
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,
202520242023
Current provision:
Federal$243,660 $126,174 $110,610 
State62,953 29,361 29,775 
Foreign10,903 12,157 8,507 
Total current provision317,516 167,692 $148,892 
Deferred benefit
Federal(90,035)(87,651)(98,923)
State(18,569)(15,739)(20,755)
Foreign(3,669)(1,984)(7,824)
Total deferred benefit
(112,273)(105,374)$(127,502)
Income tax provision$205,243 $62,318 $21,390 
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, 2025, 2024, and 2023 to income before income taxes as a result of the following for the periods shown (in thousands):
Fiscal year ended January 31,
202520242023
Expected provision at statutory tax rate
$193,070 $123,485 $106,910 
State taxes, net of federal benefit
42,650 12,056 7,318 
Tax credits(35,416)(36,333)(33,463)
Stock-based compensation35,618 (32,054)(52,304)
Valuation allowance3,726 13,572 5,654 
Foreign derived intangible income deduction (FDII)(30,535)(15,489)(15,811)
Release of income tax reserves
(2,531)(9,201)(293)
Other
(1,339)6,282 3,379 
Income tax provision$205,243 $62,318 $21,390 
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,
20252024
Deferred tax assets:
Capitalized expenditures$326,533 $228,845 
Stock-based compensation68,466 49,710 
Tax credit carryforward64,536 65,307 
Lease liabilities19,737 13,967 
Other (1)
14,781 18,360 
Gross deferred tax assets494,053 376,189 
Valuation allowance(77,056)(79,056)
Total deferred tax assets416,997 297,133 
Deferred tax liabilities:
Intangible assets(23,305)(27,019)
Lease right-of-use assets(16,675)(11,410)
Other (1)
(33,685)(27,293)
Total deferred tax liabilities(73,665)(65,722)
Net deferred tax assets$343,332 $231,411 
(1) Prior period balances were adjusted to conform with current period presentation.
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,
202520242023
Beginning balance$39,737 $30,713 $25,241 
Increases related to tax positions taken during the prior period2 7,385 971 
Increases related to tax positions taken during the current period4,242 10,131 4,934 
Decreases related to tax positions taken during the prior period(101)(17)(137)
Lapse of statute of limitations(4,478)(8,475)(296)
Ending balance$39,402 $39,737 $30,713 
v3.25.1
Leases (Tables)
 12 Months Ended
Jan. 31, 2025
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,
20252024
Cash paid for lease liabilities
$12,522 $10,291 
Lease right-of-use assets obtained in exchange for new lease liabilities
$30,866 $3,700 
Schedule of Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to operating leases was as follows:
January 31,
20252024
Weighted average remaining lease term
7.7 years6.6 years
Weighted average discount rate
4.6 %4.4 %
Schedule of Maturity of Operating Lease Liabilities
As of January 31, 2025, remaining maturities of operating lease liabilities are as follows (in thousands):
Fiscal Year
Fiscal 2026$8,818 
Fiscal 202713,451 
Fiscal 202814,101 
Fiscal 202910,653 
Fiscal 20309,847 
Thereafter36,041 
Total lease payments
92,911 
Less imputed interest(17,136)
Total lease liabilities
$75,775 
v3.25.1
Stockholders' Equity (Tables)
 12 Months Ended
Jan. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity A summary of stock option activity for the fiscal year ended January 31, 2025 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, 202411,147,810 $157.20 6.7$626 
Options granted4,759,152 $226.45 
Options exercised(673,079)$156.79 
Options forfeited/cancelled(599,962)$208.88 
Options outstanding at January 31, 202514,633,921 $177.65 6.8$860 
Options vested and exercisable at January 31, 20256,331,044 $130.97 4.5$676 
Options vested and exercisable at January 31, 2025 and expected to vest thereafter14,633,921 $177.65 6.8$860 
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,
202520242023
Volatility39%-41%39%-41%37%-40%
Expected term (in years)5.5-7.66.3-7.06.0-7.0
Risk-free interest rate3.46%-4.65%3.34%-4.73%1.90%-4.20%
Dividend yield—%—%—%
The grant date fair value of the stock option of approximately $172 million was calculated using a Monte Carlo simulation model and the following table provides the assumptions used in the simulation:
Volatility39%
Expected term (in years)7.6
Risk-free interest rate4.18%
Dividend yield—%
Schedule of Restricted Stock Unit (RSU) Activity
A summary of RSU activity for the fiscal year ended January 31, 2025 is as follows:
Unreleased restricted
stock units
Weighted 
average grant
date fair value
Balance at January 31, 20241,011,731 $192.77 
RSUs granted989,174 $213.04 
RSUs vested(1,030,545)$199.52 
RSUs forfeited/cancelled(90,334)$206.10 
Balance at January 31, 2025880,026 $206.25 
v3.25.1
Other Income (Tables)
 12 Months Ended
Jan. 31, 2025
Other Income and Expenses [Abstract]  
Schedule of Other Income
Other income, net, consisted of the following (in thousands):
Fiscal year ended January 31,
202520242023
Foreign currency (loss) gain$(3,274)$124 $591 
Accretion on investments22,622 24,817 2,982 
Interest income, net207,987 133,748 45,860 
Miscellaneous income
611 — 572 
Other income, net$227,946 $158,689 $50,005 
v3.25.1
Net Income per Share (Tables)
 12 Months Ended
Jan. 31, 2025
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,
202520242023
Common
Class AClass BClass AClass B
Basic
Numerator
Net income, basic$714,138 $491,747 $33,958 $441,425 $46,281 
Denominator
Weighted average shares used in computing net income per share, basic161,879 150,162 10,370 140,640 14,745 
Net income per share, basic$4.41 $3.27 $3.27 $3.14 $3.14 
Diluted
Numerator
Net income, basic$714,138 $491,747 $33,958 $441,425 $46,281 
Reallocation as a result of conversion of Class B to Class A common stock:
Net income, basic— 33,958 — 46,281 — 
Reallocation of net income to Class B common stock— — 8,887 — 19,163 
Net income, diluted$714,138 $525,705 $42,845 $487,706 $65,444 
Denominator
Number of shares used for basic net income per share computation161,879 150,162 10,370 140,640 14,745 
Conversion of Class B to Class A common stock— 10,370 — 14,745 — 
Effect of potentially dilutive common shares3,353 2,954 2,954 7,052 7,052 
Weighted average shares used in computing net income per share, diluted165,232 163,486 13,324 162,437 21,797 
Net income per share, diluted$4.32 $3.22 $3.22 $3.00 $3.00 
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 (in thousands):
Fiscal year ended January 31,
202520242023
Options and RSUs
8,609 6,083 3,945 
v3.25.1
Segment Information (Tables)
 12 Months Ended
Jan. 31, 2025
Segment Reporting [Abstract]  
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
The following table reconciles the Company’s revenues to consolidated net income and the specific items excluded from cost of revenues and operating expenses to calculate adjusted operating income (in thousands):
Fiscal year ended January 31,
202520242023
Revenues
$2,746,619 $2,363,673 $2,155,060 
Cost of revenues - adjusted:
Cost of subscription services revenues
312,169 279,626 246,909 
Cost of professional services and other revenues
324,639 332,927 300,879 
Operating expenses - adjusted:
Research and development
507,092 456,041 378,594 
Sales and marketing
293,105 276,505 247,077 
General and administrative
157,271 176,048 151,139 
Operating income - adjusted
1,152,343 842,526 830,462 
Other segment items (1)
460,908 413,192 371,371 
Other income, net
227,946 158,689 50,005 
Provision for income taxes
205,243 62,318 21,390 
Consolidated net income
$714,138 $525,705 $487,706 
(1) Other segment items included in consolidated net income consist primarily of stock-based compensation expense and amortization of purchased intangibles.
v3.25.1
Information about Geographic Areas and Products (Tables)
 12 Months Ended
Jan. 31, 2025
Revenue from Contract with Customer [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,
202520242023
Revenues by geography
North America$1,621,697 $1,387,425 $1,253,760 
Europe790,777 662,560 598,828 
Asia Pacific265,735 250,600 244,655 
Middle East, Africa, and Latin America68,410 63,088 57,817 
Total revenues$2,746,619 $2,363,673 $2,155,060 
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,
20252024
Long-lived assets by geography
North America$47,144 $49,725 
Europe6,778 6,885 
Asia Pacific1,295 751 
Middle East, Africa, and Latin America695 1,171 
Total long-lived assets$55,912 $58,532 
Schedule of Total Revenues
Total revenues consist of the following (in thousands):
Fiscal year ended January 31,
202520242023
Subscription services
Commercial Solutions$1,104,888 $995,803 $946,252 
R&D Solutions1,179,771 905,790 786,750 
Total subscription services2,284,659 1,901,593 1,733,002 
Professional services
Commercial Solutions185,302 185,981 177,188 
R&D Solutions276,658 276,099 244,870 
Total professional services461,960 462,080 422,058 
Total revenues$2,746,619 $2,363,673 $2,155,060 
v3.25.1
Summary of Business and Significant Accounting Policies - Additional Information (Detail)
 12 Months Ended
Jan. 31, 2025
USD ($)
reporting_unit
Jan. 31, 2024
USD ($)
Jan. 31, 2023
USD ($)
Concentration Risk [Line Items]      
Amortization period of deferred costs 3 years    
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]      
Customer payment period 30 days    
Maximum      
Concentration Risk [Line Items]      
Customer payment period 60 days    
v3.25.1
Summary of Business and Significant Accounting Policies - Concentrations of Credit Risk (Details)
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Customer One | Accounts Receivable | Customer Concentration Risk    
Concentration Risk [Line Items]    
Concentration risk, percentage 10.10% 10.10%
v3.25.1
Summary of Business and Significant Accounting Policies - Estimated Useful Lives (Details)
Jan. 31, 2025
Building  
Property, Plant and Equipment [Line Items]  
Property and equipment, estimated useful life 30 years
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
v3.25.1
Short-Term Investments - Schedule of Short-Term Investments (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Debt Securities, Available-for-Sale [Line Items]    
Amortized cost $ 4,025,697 $ 3,321,633
Gross unrealized gains 16,171 13,892
Gross unrealized losses (10,426) (11,256)
Estimated fair value 4,031,442 3,324,269
Certificates of deposit    
Debt Securities, Available-for-Sale [Line Items]    
Amortized cost 64,045 94,210
Gross unrealized gains 69 87
Gross unrealized losses (21) (14)
Estimated fair value 64,093 94,283
Asset-backed securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized cost 526,986 605,852
Gross unrealized gains 3,257 2,916
Gross unrealized losses (232) (1,787)
Estimated fair value 530,011 606,981
Commercial paper    
Debt Securities, Available-for-Sale [Line Items]    
Amortized cost 74,468 144,218
Gross unrealized gains 108 47
Gross unrealized losses (1) (20)
Estimated fair value 74,575 144,245
Corporate notes and bonds    
Debt Securities, Available-for-Sale [Line Items]    
Amortized cost 2,202,150 1,581,382
Gross unrealized gains 10,588 8,835
Gross unrealized losses (5,782) (5,188)
Estimated fair value 2,206,956 1,585,029
Foreign government bonds    
Debt Securities, Available-for-Sale [Line Items]    
Amortized cost 176,684 50,180
Gross unrealized gains 442 206
Gross unrealized losses (1,023) (180)
Estimated fair value 176,103 50,206
Municipal securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized cost 67,780 79,404
Gross unrealized gains 173 301
Gross unrealized losses (122) (231)
Estimated fair value 67,831 79,474
U.S. agency obligations    
Debt Securities, Available-for-Sale [Line Items]    
Amortized cost 24,616 49,372
Gross unrealized gains 94 232
Gross unrealized losses (1) (12)
Estimated fair value 24,709 49,592
U.S. treasury securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized cost 888,968 717,015
Gross unrealized gains 1,440 1,268
Gross unrealized losses (3,244) (3,824)
Estimated fair value $ 887,164 $ 714,459
v3.25.1
Short-Term Investments - Schedule of Estimated Fair Value of Short-Term Investments, Designated as Available-for-Sale and Classified by Contractual Maturity (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Investments, Debt and Equity Securities [Abstract]    
Due in one year or less $ 1,066,558 $ 919,871
Due in greater than one year 2,964,884 2,404,398
Total $ 4,031,442 $ 3,324,269
v3.25.1
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, 2025
Jan. 31, 2024
Certificates of deposit    
Debt Securities, Available-for-Sale [Line Items]    
12 months or less, Fair value $ 20,095 $ 22,465
12 months or less, Gross unrealized losses (21) (14)
Greater than 12 months, Fair value 0 0
Greater than 12 months, Gross unrealized losses 0 0
Asset-backed securities    
Debt Securities, Available-for-Sale [Line Items]    
12 months or less, Fair value 25,220 120,543
12 months or less, Gross unrealized losses (31) (343)
Greater than 12 months, Fair value 44,789 105,419
Greater than 12 months, Gross unrealized losses (201) (1,444)
Corporate notes and bonds    
Debt Securities, Available-for-Sale [Line Items]    
12 months or less, Fair value 616,379 394,823
12 months or less, Gross unrealized losses (5,569) (1,560)
Greater than 12 months, Fair value 71,331 280,092
Greater than 12 months, Gross unrealized losses (213) (3,628)
Foreign government bonds    
Debt Securities, Available-for-Sale [Line Items]    
12 months or less, Fair value 76,856 8,915
12 months or less, Gross unrealized losses (1,023) (19)
Greater than 12 months, Fair value 0 9,784
Greater than 12 months, Gross unrealized losses 0 (161)
Municipal securities    
Debt Securities, Available-for-Sale [Line Items]    
12 months or less, Fair value 22,593 31,418
12 months or less, Gross unrealized losses (122) (122)
Greater than 12 months, Fair value 0 13,686
Greater than 12 months, Gross unrealized losses 0 (109)
U.S. agency obligations    
Debt Securities, Available-for-Sale [Line Items]    
12 months or less, Fair value 1,865 1,795
12 months or less, Gross unrealized losses (1) (3)
Greater than 12 months, Fair value 0 4,991
Greater than 12 months, Gross unrealized losses 0 (9)
U.S. treasury securities    
Debt Securities, Available-for-Sale [Line Items]    
12 months or less, Fair value 439,382 280,946
12 months or less, Gross unrealized losses (3,072) (1,227)
Greater than 12 months, Fair value 173,071 204,274
Greater than 12 months, Gross unrealized losses (172) (2,597)
Commercial paper    
Debt Securities, Available-for-Sale [Line Items]    
12 months or less, Fair value 4,944 70,037
12 months or less, Gross unrealized losses (1) (20)
Greater than 12 months, Fair value 0 0
Greater than 12 months, Gross unrealized losses $ 0 $ 0
v3.25.1
Deferred Costs (Details) - USD ($)
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Deferred Costs [Abstract]      
Deferred costs $ 26,383,000 $ 23,916,000  
Amortization of deferred costs 16,000,000 18,000,000 $ 22,000,000
Impairment losses recorded in relation to the costs capitalized $ 0 $ 0 $ 0
v3.25.1
Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 87,365 $ 95,289
Less accumulated depreciation (31,453) (36,757)
Total property and equipment, net 55,912 58,532
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 1,483 2,551
Furniture and fixtures    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 6,288 15,498
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 30,186 30,793
Construction in progress    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 2,992 $ 31
v3.25.1
Goodwill and Intangible Assets - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]      
Goodwill $ 439,877 $ 439,877  
Amortization expense $ 19,000 $ 19,000 $ 19,000
v3.25.1
Goodwill and Intangible Assets - Schedule of Details of Intangible Assets (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount $ 177,042 $ 177,042
Accumulated amortization (132,582) (114,025)
Net 44,460 63,017
Existing technology    
Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount 28,580 28,580
Accumulated amortization (24,878) (20,646)
Net $ 3,702 $ 7,934
Remaining useful life (in years) 1 year 2 years
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount $ 113,157 $ 113,157
Accumulated amortization (73,223) (61,755)
Net $ 39,934 $ 51,402
Remaining useful life (in years) 4 years 6 months 5 years 3 months 18 days
Trade name and trademarks    
Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount $ 13,900 $ 13,900
Accumulated amortization (13,900) (11,925)
Net $ 0 $ 1,975
Remaining useful life (in years) 0 years 9 months 18 days
Other intangibles    
Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount $ 21,405 $ 21,405
Accumulated amortization (20,581) (19,699)
Net $ 824 $ 1,706
Remaining useful life (in years) 1 year 9 months 18 days 2 years 2 months 12 days
v3.25.1
Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Expense (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
2026 $ 14,147  
2027 8,922  
2028 7,778  
2029 7,782  
2030 5,831  
Net $ 44,460 $ 63,017
v3.25.1
Accrued Expenses (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Payables and Accruals [Abstract]    
Accrued commissions $ 8,031 $ 9,848
Accrued bonus 3,391 3,481
Accrued vacation 7,017 7,375
Payroll tax payable 12,595 13,829
Accrued other compensation and benefits 8,395 8,900
Total accrued compensation and benefits 39,429 43,433
Accrued fees payable to Salesforce, Inc. 6,414 6,562
Taxes payable 8,697 7,632
Other accrued expenses 20,446 18,786
Total accrued expenses and other current liabilities $ 35,557 $ 32,980
v3.25.1
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, 2025
Jan. 31, 2024
Assets    
Short-term investments $ 4,031,442 $ 3,324,269
U.S. Treasury securities    
Assets    
Short-term investments 887,164 714,459
Certificates of deposit    
Assets    
Short-term investments 64,093 94,283
Asset-backed securities    
Assets    
Short-term investments 530,011 606,981
Commercial paper    
Assets    
Short-term investments 74,575 144,245
Corporate notes and bonds    
Assets    
Short-term investments 2,206,956 1,585,029
Foreign government bonds    
Assets    
Short-term investments 176,103 50,206
Municipal securities    
Assets    
Short-term investments 67,831 79,474
U.S. agency obligations    
Assets    
Short-term investments 24,709 49,592
Fair value, measurements recurring    
Assets    
Total financial assets 4,349,711 3,408,051
Liabilities    
Total financial liabilities (525) (232)
Fair value, measurements recurring | Money market funds    
Assets    
Cash equivalents: 314,872 73,197
Fair value, measurements recurring | U.S. Treasury securities    
Assets    
Cash equivalents: 3,301 9,969
Short-term investments 887,164 714,459
Fair value, measurements recurring | Certificates of deposit    
Assets    
Short-term investments 64,093 94,283
Fair value, measurements recurring | Asset-backed securities    
Assets    
Short-term investments 530,011 606,981
Fair value, measurements recurring | Commercial paper    
Assets    
Short-term investments 74,575 144,245
Fair value, measurements recurring | Corporate notes and bonds    
Assets    
Short-term investments 2,206,956 1,585,029
Fair value, measurements recurring | Foreign government bonds    
Assets    
Short-term investments 176,103 50,206
Fair value, measurements recurring | Municipal securities    
Assets    
Short-term investments 67,831 79,474
Fair value, measurements recurring | U.S. agency obligations    
Assets    
Short-term investments 24,709 49,592
Fair value, measurements recurring | Foreign currency derivative contracts    
Assets    
Short-term investments 96 616
Fair value, measurements recurring | Foreign currency derivative contracts    
Liabilities    
Foreign currency derivative contracts (525) (232)
Fair value, measurements recurring | Level 1    
Assets    
Total financial assets 314,872 73,197
Liabilities    
Total financial liabilities 0 0
Fair value, measurements recurring | Level 1 | Money market funds    
Assets    
Cash equivalents: 314,872 73,197
Fair value, measurements recurring | Level 1 | U.S. Treasury securities    
Assets    
Cash equivalents: 0 0
Short-term investments 0 0
Fair value, measurements recurring | Level 1 | Certificates of deposit    
Assets    
Short-term investments 0 0
Fair value, measurements recurring | Level 1 | Asset-backed securities    
Assets    
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 | Corporate notes and bonds    
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 | Municipal securities    
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 1 | Foreign currency derivative contracts    
Liabilities    
Foreign currency derivative contracts 0 0
Fair value, measurements recurring | Level 2    
Assets    
Total financial assets 4,034,839 3,334,854
Liabilities    
Total financial liabilities (525) (232)
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: 3,301 9,969
Short-term investments 887,164 714,459
Fair value, measurements recurring | Level 2 | Certificates of deposit    
Assets    
Short-term investments 64,093 94,283
Fair value, measurements recurring | Level 2 | Asset-backed securities    
Assets    
Short-term investments 530,011 606,981
Fair value, measurements recurring | Level 2 | Commercial paper    
Assets    
Short-term investments 74,575 144,245
Fair value, measurements recurring | Level 2 | Corporate notes and bonds    
Assets    
Short-term investments 2,206,956 1,585,029
Fair value, measurements recurring | Level 2 | Foreign government bonds    
Assets    
Short-term investments 176,103 50,206
Fair value, measurements recurring | Level 2 | Municipal securities    
Assets    
Short-term investments 67,831 79,474
Fair value, measurements recurring | Level 2 | U.S. agency obligations    
Assets    
Short-term investments 24,709 49,592
Fair value, measurements recurring | Level 2 | Foreign currency derivative contracts    
Assets    
Short-term investments 96 616
Fair value, measurements recurring | Level 2 | Foreign currency derivative contracts    
Liabilities    
Foreign currency derivative contracts $ (525) $ (232)
v3.25.1
Fair Value Measurements - Schedule of Fair Value of Outstanding Derivative Instruments (Details) - Foreign currency derivative contracts - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Derivatives, Fair Value [Line Items]    
Notional amount of foreign currency derivative contracts $ 130,122 $ 201,407
Fair value of foreign currency derivative contracts $ 130,552 $ 201,024
v3.25.1
Income Taxes - Schedule of Components of Income before Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Income Tax Disclosure [Abstract]      
United States $ 890,066 $ 546,837 $ 482,885
Foreign 29,315 41,186 26,211
Income before income taxes $ 919,381 $ 588,023 $ 509,096
v3.25.1
Income Taxes - Schedule of Components of Provision for Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Current provision:      
Federal $ 243,660 $ 126,174 $ 110,610
State 62,953 29,361 29,775
Foreign 10,903 12,157 8,507
Total current provision 317,516 167,692 148,892
Deferred benefit      
Federal (90,035) (87,651) (98,923)
State (18,569) (15,739) (20,755)
Foreign (3,669) (1,984) (7,824)
Total deferred benefit (112,273) (105,374) (127,502)
Income tax provision $ 205,243 $ 62,318 $ 21,390
v3.25.1
Income Taxes - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Income Tax Contingency [Line Items]        
Federal statutory income tax rate 21.00% 21.00% 21.00%  
State net operating loss carryforwards $ 13,000      
Foreign net operating loss carryforwards 2,000      
Federal net operating loss carryforwards 3,000      
Unrecognized tax benefits 39,402 $ 39,737 $ 30,713 $ 25,241
Unrecognized tax benefits that would impact effective tax rate 25,000      
Accrued interest and penalties 3,000 $ 2,000 $ 3,000  
State and Local Jurisdiction | California Franchise Tax Board        
Income Tax Contingency [Line Items]        
Tax credit carryforward $ 78,000      
v3.25.1
Income Taxes - Schedule of Reconciliation of Statutory Federal Income Tax to Effective Tax (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Income Tax Disclosure [Abstract]      
Expected provision at statutory tax rate $ 193,070 $ 123,485 $ 106,910
State taxes, net of federal benefit 42,650 12,056 7,318
Tax credits (35,416) (36,333) (33,463)
Stock-based compensation 35,618 (32,054) (52,304)
Valuation allowance 3,726 13,572 5,654
Foreign derived intangible income deduction (FDII) (30,535) (15,489) (15,811)
Release of income tax reserves (2,531) (9,201) (293)
Other (1,339) 6,282 3,379
Income tax provision $ 205,243 $ 62,318 $ 21,390
v3.25.1
Income Taxes - Schedule of Components of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Deferred tax assets:    
Capitalized expenditures $ 326,533 $ 228,845
Stock-based compensation 68,466 49,710
Tax credit carryforward 64,536 65,307
Lease liabilities 19,737 13,967
Other 14,781 18,360
Gross deferred tax assets 494,053 376,189
Valuation allowance (77,056) (79,056)
Total deferred tax assets 416,997 297,133
Deferred tax liabilities:    
Intangible assets (23,305) (27,019)
Lease right-of-use assets (16,675) (11,410)
Other (33,685) (27,293)
Total deferred tax liabilities (73,665) (65,722)
Net deferred tax assets $ 343,332 $ 231,411
v3.25.1
Income Taxes - Schedule of Changes in Total Gross Amount of Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Unrecognized Tax Benefits [Roll Forward]      
Beginning balance $ 39,737 $ 30,713 $ 25,241
Increases related to tax positions taken during the prior period 2 7,385 971
Increases related to tax positions taken during the current period 4,242 10,131 4,934
Decreases related to tax positions taken during the prior period (101) (17) (137)
Lapse of statute of limitations (4,478) (8,475) (296)
Ending balance $ 39,402 $ 39,737 $ 30,713
v3.25.1
Deferred Revenue, Performance Obligations, and Unbilled Accounts Receivable - (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Disaggregation of Revenue [Line Items]      
Recognition of deferred revenue $ 1,028,000 $ 833,000 $ 708,000
Unbilled accounts receivable 40,761 36,365  
Subscription services      
Disaggregation of Revenue [Line Items]      
Unbilled accounts receivable $ 8,000 4,000  
Subscription services | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-02-01      
Disaggregation of Revenue [Line Items]      
Revenue, remaining performance obligation, recognition period 12 months    
Professional services and other      
Disaggregation of Revenue [Line Items]      
Unbilled accounts receivable $ 33,000 $ 32,000  
v3.25.1
Leases - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Leases [Line Items]      
Operating lease expense $ 14 $ 16 $ 16
Maximum      
Leases [Line Items]      
Operating leases, options to extend leases term 7 years    
v3.25.1
Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Leases [Abstract]    
Cash paid for lease liabilities $ 12,522 $ 10,291
Lease right-of-use assets obtained in exchange for new lease liabilities $ 30,866 $ 3,700
v3.25.1
Leases - Schedule of Supplemental Balance Sheet Information Related to Leases (Details)
Jan. 31, 2025
Jan. 31, 2024
Operating Leases    
Weighted average remaining lease term 7 years 8 months 12 days 6 years 7 months 6 days
Weighted average discount rate 4.60% 4.40%
v3.25.1
Leases- Schedule of Maturity of Operating Lease Liabilities (Details)
$ in Thousands
Jan. 31, 2025
USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]  
2026 $ 8,818
2027 13,451
2028 14,101
2029 10,653
2030 9,847
Thereafter 36,041
Total lease payments 92,911
Less imputed interest (17,136)
Total lease liabilities $ 75,775
v3.25.1
Stockholders' Equity - Additional Information (Details)
$ / shares in Units, $ in Millions
 12 Months Ended
Jan. 31, 2025
USD ($)
vesting_increment
vote
$ / shares
shares
Jan. 31, 2024
$ / shares
shares
Jan. 31, 2023
$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Common stock, shares outstanding (in shares) 162,583,789 161,260,172  
Options outstanding (in shares) 14,633,921 11,147,810  
Weighted-average grant date fair value of options granted (in usd per share) | $ / shares $ 80.69 $ 81.17 $ 88.25
Unrecognized compensation cost related to unvested stock options granted | $ $ 466    
Intrinsic value of options exercised | $ $ 45    
Options granted (in shares) 4,759,152    
Options granted (in usd per share) | $ / shares $ 226.45    
Number of increments | vesting_increment 5    
Number of consecutive trading days 60 days    
Chief Executive Officer      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Options granted (in shares) 2,650,000    
Options granted (in usd per share) | $ / shares $ 236.90    
Exercisable closing price threshold (in usd per share) | $ / shares $ 236.90    
Share based payment award options grant date fair value | $ $ 172    
Class A & B common stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vote per common share | vote 1    
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    
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%    
2013 Equity Incentive Plan | Director      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of shares issued in period (in shares) 6,450,406    
2013 Equity Incentive Plan | Common Class A      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of shares available for issuance (in shares) 47,283,077    
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) 1 year 1 month 6 days    
Unrecognized compensation cost related to unvested RSUs | $ $ 84    
Grant date fair value of RSUs vested | $ $ 215    
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 4 months 24 days    
Stock Options | 2013 Equity Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 4 years    
Maximum | Stock Options | 2013 Equity Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Options exercisable period 10 years    
Maximum | Certain Employee Stock Options | 2013 Equity Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 7 years    
Minimum | Restricted Stock Units (RSUs) | 2013 Equity Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 1 year    
Minimum | Certain Employee Stock Options | 2013 Equity Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 5 years    
v3.25.1
Stockholders' Equity - Schedule of Stock Option Activity (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Number of shares    
Options outstanding, beginning balance (in shares) 11,147,810  
Options granted (in shares) 4,759,152  
Options exercised (in shares) (673,079)  
Options forfeited/cancelled (in shares) (599,962)  
Options outstanding, ending balance (in shares) 14,633,921 11,147,810
Options vested and exercisable (in shares) 6,331,044  
Options vested and exercisable and expected to vest thereafter (in shares) 14,633,921  
Weighted average exercise price    
Options outstanding, beginning balance (in usd per share) $ 157.20  
Options granted (in usd per share) 226.45  
Options exercised (in usd per share) 156.79  
Options forfeited/cancelled (in usd per share) 208.88  
Options outstanding, ending balance (in usd per share) 177.65 $ 157.20
Options vested and exercisable (in usd per share) 130.97  
Options vested and exercisable and expected to vest thereafter (in usd per share) $ 177.65  
Weighted average remaining contractual term (in years), Options outstanding 6 years 9 months 18 days 6 years 8 months 12 days
Weighted average remaining contractual term (in years), Options vested and exercisable 4 years 6 months  
Weighted average remaining contractual term (in years), Options vested and exercisable and expected to vest thereafter 6 years 9 months 18 days  
Aggregate intrinsic value (in millions)    
Options outstanding $ 860 $ 626
Options vested and exercisable 676  
Options vested and exercisable and expected to vest thereafter $ 860  
v3.25.1
Stockholders' Equity - Schedule of Weighted-Average Assumptions Used to Estimate Grant Date Fair Value of Options Granted (Details) - Stock Options
 3 Months Ended 12 Months Ended
Jan. 31, 2025
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Volatility, minimum   39.00% 39.00% 37.00%
Volatility, maximum   41.00% 41.00% 40.00%
Risk-free interest rate, Minimum   3.46% 3.34% 1.90%
Risk-free interest rate, Maximum   4.65% 4.73% 4.20%
Dividend yield   0.00% 0.00% 0.00%
Chief Executive Officer        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Volatility 39.00%      
Expected term (in years) 7 years 7 months 6 days      
Risk-free interest rate 4.18%      
Dividend yield 0.00%      
Minimum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Expected term (in years)   5 years 6 months 6 years 3 months 18 days 6 years
Maximum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Expected term (in years)   7 years 7 months 6 days 7 years 7 years
v3.25.1
Stockholders' Equity - Schedule of Restricted Stock Unit (RSU) Activity (Details) - Restricted Stock Units (RSUs)
 12 Months Ended
Jan. 31, 2025
$ / shares
shares
Unreleased restricted stock units  
Beginning balance (in shares) | shares 1,011,731
RSUs granted (in shares) | shares 989,174
RSUs vested (in shares) | shares (1,030,545)
RSUs forfeited/cancelled (in shares) | shares (90,334)
Ending balance (in shares) | shares 880,026
Weighted  average grant date fair value  
Beginning balance (in usd per share) | $ / shares $ 192.77
RSUs granted (in usd per share) | $ / shares 213.04
RSUs vested (in usd per share) | $ / shares 199.52
RSUs forfeited/cancelled (in usd per share) | $ / shares 206.10
Ending balance (in usd per share) | $ / shares $ 206.25
v3.25.1
Other Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Other Income and Expenses [Abstract]      
Foreign currency (loss) gain $ (3,274) $ 124 $ 591
Accretion on investments 22,622 24,817 2,982
Interest income, net 207,987 133,748 45,860
Miscellaneous income 611 0 572
Other income, net $ 227,946 $ 158,689 $ 50,005
v3.25.1
Net Income per Share - Schedule of 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, 2025
Jan. 31, 2024
Jan. 31, 2023
Schedule Of Earnings Per Share Basic And Diluted [Line Items]      
Net income, basic $ 714,138    
Weighted average shares used in computing net income per share, basic (in shares) 161,879 160,532 155,385
Net income per share, basic (in usd per share) $ 4.41 $ 3.27 $ 3.14
Reallocation as a result of conversion of Class B to Class A common stock:      
Net income, basic $ 0    
Reallocation of net income to Class B common stock 0    
Net income, diluted $ 714,138    
Conversion of Class B to Class A common stock (in shares) 0    
Effect of potentially dilutive common shares (in shares) 3,353    
Weighted average shares used in computing net income per share, diluted (in shares) 165,232 163,486 162,437
Net income per share, diluted (in usd per share) $ 4.32 $ 3.22 $ 3.00
Class A      
Schedule Of Earnings Per Share Basic And Diluted [Line Items]      
Net income, basic   $ 491,747 $ 441,425
Weighted average shares used in computing net income per share, basic (in shares)   150,162 140,640
Net income per share, basic (in usd per share)   $ 3.27 $ 3.14
Reallocation as a result of conversion of Class B to Class A common stock:      
Net income, basic   $ 33,958 $ 46,281
Reallocation of net income to Class B common stock   0 0
Net income, diluted   $ 525,705 $ 487,706
Conversion of Class B to Class A common stock (in shares)   10,370 14,745
Effect of potentially dilutive common shares (in shares)   2,954 7,052
Weighted average shares used in computing net income per share, diluted (in shares)   163,486 162,437
Net income per share, diluted (in usd per share)   $ 3.22 $ 3.00
Class B      
Schedule Of Earnings Per Share Basic And Diluted [Line Items]      
Net income, basic   $ 33,958 $ 46,281
Weighted average shares used in computing net income per share, basic (in shares)   10,370 14,745
Net income per share, basic (in usd per share)   $ 3.27 $ 3.14
Reallocation as a result of conversion of Class B to Class A common stock:      
Net income, basic   $ 0 $ 0
Reallocation of net income to Class B common stock   8,887 19,163
Net income, diluted   $ 42,845 $ 65,444
Conversion of Class B to Class A common stock (in shares)   0 0
Effect of potentially dilutive common shares (in shares)   2,954 7,052
Weighted average shares used in computing net income per share, diluted (in shares)   13,324 21,797
Net income per share, diluted (in usd per share)   $ 3.22 $ 3.00
v3.25.1
Net Income per Share - Schedule of Potential Common Share Equivalents Excluded where the Inclusion would be Anti-dilutive (Details) - shares
shares in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Earnings Per Share [Abstract]      
Options and RSUs (in shares) 8,609 6,083 3,945
v3.25.1
Commitment and Contingencies (Details)
$ in Millions
Mar. 13, 2017
USD ($)
IQVIA Litigation Matter | Minimum  
Long-term Purchase Commitment [Line Items]  
Monetary damages $ 200
v3.25.1
Segment Reporting - Schedule of Segment Reporting Information, by Segment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]      
Total revenues $ 2,746,619 $ 2,363,673 $ 2,155,060
Cost of revenues - adjusted:      
Total cost of revenues [1] 699,636 677,291 609,405
Operating expenses:      
Research and development [1] 693,078 629,031 520,278
Sales and marketing [1] 396,726 381,472 348,691
General and administrative [1] 265,744 246,545 217,595
Other income, net 227,946 158,689 50,005
Income tax provision 205,243 62,318 21,390
Net income 714,138 525,705 487,706
Operating Segments      
Operating expenses:      
Research and development 507,092 456,041 378,594
Sales and marketing 293,105 276,505 247,077
General and administrative 157,271 176,048 151,139
Operating income - adjusted 1,152,343 842,526 830,462
Other segment items 460,908 413,192 371,371
Other income, net 227,946 158,689 50,005
Income tax provision 205,243 62,318 21,390
Net income 714,138 525,705 487,706
Subscription services      
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]      
Total revenues 2,284,659 1,901,593 1,733,002
Cost of revenues - adjusted:      
Total cost of revenues [1] 323,070 290,577 257,635
Subscription services | Operating Segments      
Cost of revenues - adjusted:      
Total cost of revenues 312,169 279,626 246,909
Professional services and other      
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]      
Total revenues 461,960 462,080 422,058
Cost of revenues - adjusted:      
Total cost of revenues [1] 376,566 386,714 351,770
Professional services and other | Operating Segments      
Cost of revenues - adjusted:      
Total cost of revenues $ 324,639 $ 332,927 $ 300,879
[1]
(1) Includes stock-based compensation as follows:
Cost of revenues:
Cost of subscription services$6,591 $6,483 $6,257 
Cost of professional services and other51,377 53,237 50,341 
Research and development185,901 172,876 141,571 
Sales and marketing90,178 90,865 87,509 
General and administrative103,303 70,272 66,229 
Total stock-based compensation$437,350 $393,733 $351,907 
v3.25.1
Information about Geographic Areas and Products - Revenue by Geographic Area (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Disaggregation of Revenue [Line Items]      
Total revenues $ 2,746,619 $ 2,363,673 $ 2,155,060
North America      
Disaggregation of Revenue [Line Items]      
Total revenues 1,621,697 1,387,425 1,253,760
Europe      
Disaggregation of Revenue [Line Items]      
Total revenues 790,777 662,560 598,828
Asia Pacific      
Disaggregation of Revenue [Line Items]      
Total revenues 265,735 250,600 244,655
Middle East, Africa, and Latin America      
Disaggregation of Revenue [Line Items]      
Total revenues $ 68,410 $ 63,088 $ 57,817
v3.25.1
Information about Geographic Areas and Products - Schedule of Long-Lived Assets by Geography (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Disaggregation of Revenue [Line Items]    
Total long-lived assets $ 55,912 $ 58,532
North America    
Disaggregation of Revenue [Line Items]    
Total long-lived assets 47,144 49,725
Europe    
Disaggregation of Revenue [Line Items]    
Total long-lived assets 6,778 6,885
Asia Pacific    
Disaggregation of Revenue [Line Items]    
Total long-lived assets 1,295 751
Middle East, Africa, and Latin America    
Disaggregation of Revenue [Line Items]    
Total long-lived assets $ 695 $ 1,171
v3.25.1
Information about Geographic Areas and Products - Schedule of Total Revenues (Details)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
USD ($)
product_area
Jan. 31, 2024
USD ($)
Jan. 31, 2023
USD ($)
Disaggregation of Revenue [Line Items]      
Number of product areas | product_area 2    
Total revenues $ 2,746,619 $ 2,363,673 $ 2,155,060
Total subscription services      
Disaggregation of Revenue [Line Items]      
Total revenues 2,284,659 1,901,593 1,733,002
Commercial Solutions      
Disaggregation of Revenue [Line Items]      
Total revenues 1,104,888 995,803 946,252
R&D Solutions      
Disaggregation of Revenue [Line Items]      
Total revenues 1,179,771 905,790 786,750
Total professional services      
Disaggregation of Revenue [Line Items]      
Total revenues 461,960 462,080 422,058
Commercial Solutions      
Disaggregation of Revenue [Line Items]      
Total revenues 185,302 185,981 177,188
R&D Solutions      
Disaggregation of Revenue [Line Items]      
Total revenues $ 276,658 $ 276,099 $ 244,870
v3.25.1
401(k) Plan (Details) - USD ($)
 11 Months Ended 12 Months Ended
Jan. 01, 2025
Dec. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Defined Contribution Plan Disclosure [Line Items]          
Total expense related defined benefit plan     $ 10,000,000 $ 9,000,000 $ 8,000,000
401(k) Plan          
Defined Contribution Plan Disclosure [Line Items]          
Employer maximum matching contribution amount per employee per year $ 4,000 $ 2,000      
RRSP | CANADA          
Defined Contribution Plan Disclosure [Line Items]          
Employer maximum matching contribution amount per employee per year     $ 2,000