Veeva Systems (VEEV) 10-Q3 Jun 242025 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Apr. 30, 2024	May 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		161,651,713
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001393052
Current Fiscal Year End Date	--01-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Current assets:
Cash and cash equivalents	$ 1,197,196	$ 703,487
Short-term investments	3,567,841	3,324,269
Accounts receivable, net of allowance for doubtful accounts of $216 and $520, respectively	362,320	852,172
Unbilled accounts receivable	38,771	36,365
Prepaid expenses and other current assets	78,820	86,918
Total current assets	5,244,948	5,003,211
Property and equipment, net	58,042	58,532
Deferred costs, net	23,967	23,916
Lease right-of-use assets	44,583	45,602
Goodwill	439,877	439,877
Intangible assets, net	58,231	63,017
Deferred income taxes	266,060	233,463
Other long-term assets	51,850	43,302
Total assets	6,187,558	5,910,920
Current liabilities:
Accounts payable	31,930	31,513
Accrued compensation and benefits	38,755	43,433
Accrued expenses and other current liabilities	41,187	32,980
Income tax payable	71,567	11,862
Deferred revenue	1,029,455	1,049,761
Lease liabilities	10,392	9,334
Total current liabilities	1,223,286	1,178,883
Deferred income taxes	705	2,052
Lease liabilities, noncurrent	45,351	46,441
Other long-term liabilities	28,835	38,720
Total liabilities	1,298,177	1,266,096
Commitments and contingencies (note 13)
Stockholders’ equity:
Common stock	2	2
Additional paid-in capital	2,017,904	1,915,002
Accumulated other comprehensive loss	(30,646)	(10,637)
Retained earnings	2,902,121	2,740,457
Total stockholders’ equity	4,889,381	4,644,824
Total liabilities and stockholders’ equity	$ 6,187,558	$ 5,910,920

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 216	$ 520

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Apr. 30, 2024	Apr. 30, 2023
Revenues:
Total revenues		$ 650,345	$ 526,325
Cost of revenues:
Total cost of revenues	[1]	173,884	166,663
Gross profit		476,461	359,662
Operating expenses:
Research and development	[1]	162,711	146,960
Sales and marketing	[1]	97,301	88,503
General and administrative	[1]	61,277	62,669
Total operating expenses	[1]	321,289	298,132
Operating income		155,172	61,530
Other income, net		51,729	30,248
Income before income taxes		206,901	91,778
Income tax provision (benefit)		45,237	(39,743)
Net income		$ 161,664	$ 131,521
Net income per share:
Basic (in usd per share)		$ 1	$ 0.82
Diluted (in usd per share)		$ 0.98	$ 0.81
Weighted-average shares used to compute net income per share:
Basic (in shares)		161,421	159,852
Diluted (in shares)		164,394	162,521
Other comprehensive income:
Net change in unrealized (loss) gain on available-for-sale investments		$ (18,861)	$ 5,428
Net change in cumulative foreign currency translation loss		(1,148)	(58)
Comprehensive income		141,655	136,891
Subscription services
Revenues:
Total revenues		533,955	414,546
Cost of revenues:
Total cost of revenues	[1]	78,148	67,575
Professional services and other
Revenues:
Total revenues		116,390	111,779
Cost of revenues:
Total cost of revenues	[1]	$ 95,736	$ 99,088

[1] (1) Includes stock-based compensation as follows: Cost of revenues: Cost of subscription services $ 1,554 $ 1,505 Cost of professional services and other 12,535 12,722 Research and development 41,743 38,906 Sales and marketing 23,043 20,135 General and administrative 17,036 17,451 Total stock-based compensation $ 95,911 $ 90,719

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Total stock-based compensation	$ 95,911	$ 90,719
Cost of subscription services
Total stock-based compensation	1,554	1,505
Cost of professional services and other
Total stock-based compensation	12,535	12,722
Research and development
Total stock-based compensation	41,743	38,906
Sales and marketing
Total stock-based compensation	23,043	20,135
General and administrative
Total stock-based compensation	$ 17,036	$ 17,451

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands		Total	Common stock		Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss
Beginning balance (in shares) at Jan. 31, 2023	[1]		158,244,607
Beginning 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]		1,788,009
Issuance of common stock upon exercise of stock options		15,233			15,233
Issuance of common stock upon vesting of restricted stock units (in shares)	[1]		260,782
Shares withheld related to net share settlement (in shares)	[1]		(93,166)
Shares withheld related to net share settlement		(16,987)			(16,987)
Stock-based compensation expense		91,674			91,674
Change in other comprehensive loss		5,370					5,370
Net income		131,521				131,521
Ending balance (in shares) at Apr. 30, 2023	[1]		160,200,232
Ending balance at Apr. 30, 2023		3,943,063	$ 2	[1]	1,622,547	2,346,273	(25,759)
Beginning balance (in shares) at Jan. 31, 2024			161,260,172
Beginning balance at Jan. 31, 2024		$ 4,644,824	$ 2		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)		178,777	178,777
Issuance of common stock upon exercise of stock options		$ 28,434			28,434
Issuance of common stock upon vesting of restricted stock units (in shares)			295,043
Shares withheld related to net share settlement (in shares)			(109,381)
Shares withheld related to net share settlement		(24,958)			(24,958)
Stock-based compensation expense		99,426			99,426
Change in other comprehensive loss		(20,009)					(20,009)
Net income		$ 161,664				161,664
Ending balance (in shares) at Apr. 30, 2024		161,624,611	161,624,611
Ending balance at Apr. 30, 2024		$ 4,889,381	$ 2		$ 2,017,904	$ 2,902,121	$ (30,646)

[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 12 Net Income per Share.

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Cash flows from operating activities
Net income	$ 161,664	$ 131,521
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8,499	7,549
Reduction of operating lease right-of-use assets	2,783	3,060
Accretion of discount on short-term investments	(6,187)	(3,407)
Stock-based compensation	95,911	90,719
Amortization of deferred costs	3,803	5,052
Deferred income taxes	(26,539)	(21,514)
Loss on foreign currency from mark-to-market derivative	1,082	180
Bad debt (recovery) expense	(152)	155
Changes in operating assets and liabilities:
Accounts receivable	490,004	289,960
Unbilled accounts receivable	(2,406)	44,104
Deferred costs	(3,854)	3,607
Prepaid expenses and other current and long-term assets	8,160	(36,298)
Accounts payable	280	1,955
Accrued expenses and other current liabilities	2,597	(3,344)
Income taxes payable	59,705	(329)
Deferred revenue	(31,292)	(1,221)
Operating lease liabilities	(1,643)	(2,693)
Other long-term liabilities	1,101	(3,120)
Net cash provided by operating activities	763,516	505,936
Cash flows from investing activities
Purchases of short-term investments	(777,831)	(612,492)
Maturities and sales of short-term investments	513,929	318,056
Long-term assets	(8,476)	(2,958)
Net cash used in investing activities	(272,378)	(297,394)
Cash flows from financing activities
Proceeds from exercise of common stock options	28,434	15,233
Taxes paid related to net share settlement of equity awards	(24,606)	(16,625)
Net cash provided by (used in) financing activities	3,828	(1,392)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(1,257)	19
Net change in cash, cash equivalents, and restricted cash	493,709	207,169
Cash, cash equivalents, and restricted cash at beginning of period	706,670	889,650
Cash, cash equivalents, and restricted cash at end of period	1,200,379	1,096,819
Cash, cash equivalents, and restricted cash at end of period:
Cash and cash equivalents	1,197,196	1,093,634
Restricted cash included in other long-term assets	3,183	3,185
Cash, cash equivalents, and restricted cash at end of period	1,200,379	1,096,819
Supplemental disclosures of other cash flow information:
Cash paid for income taxes, net of refunds	4,229	1,034
Excess tax benefits from employee stock plans	$ 3,121	$ 62,089

Summary of Business and Signifi

Summary of Business and Significant Accounting Policies	3 Months Ended
Summary of Business and Significant Accounting Policies	Apr. 30, 2024
Accounting Policies [Abstract]
Summary of Business and Significant Accounting Policies	Summary of Business and Significant Accounting Policies Description of Business Veeva is the leading provider of industry cloud solutions for the global life sciences industry. Our offerings span cloud software, data, analytics, professional services, and business consulting and are designed to meet the unique needs of our customers and their most strategic business functions—from research and development (R&D) 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, quality, regulatory, and safety functions help life sciences companies streamline their end-to-end product development processes to increase operational efficiency and maintain regulatory compliance throughout the product life cycle. We also bring the benefits of our content and data management solutions to a set of customers outside of life sciences in the consumer product and chemical industries. Our fiscal year end is January 31. Principles of Consolidation and Basis of Presentation These unaudited condensed 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 interim financial reporting and include the accounts of our wholly-owned subsidiaries after elimination of intercompany balances and transactions. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended January 31, 2024, filed on March 25, 2024. There have been no changes to our significant accounting policies described in the annual report that have had a material impact on our condensed consolidated financial statements and related notes. The unaudited condensed consolidated balance sheet as of January 31, 2024 included herein was derived from the audited financial statements as of that date. These unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly our financial position, results of operations, comprehensive income, and cash flows for the interim periods but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year ending January 31, 2025 or any other period. New Accounting Pronouncements Issued and Not Yet Adopted 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. This new standard is effective for our fiscal year beginning on February 1, 2024 and interim periods beginning on February 1, 2025 on a retrospective basis. We are currently evaluating this ASU to determine its impact on our disclosures. 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.

Short-Term Investments

Short-Term Investments	3 Months Ended
Short-Term Investments	Apr. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Short-Term Investments	Short-Term Investments As of April 30, 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 deposits $ 98,650 $ 23 $ (55) $ 98,618 Asset-backed securities 659,618 571 (3,834) 656,355 Commercial paper 284,131 6 (119) 284,018 Corporate notes and bonds 1,719,063 673 (12,669) 1,707,067 Foreign government bonds 54,834 — (456) 54,378 Municipal securities 76,780 41 (473) 76,348 U.S. agency obligations 55,920 — (211) 55,709 U.S. treasury securities 642,726 — (7,378) 635,348 Total available-for-sale securities $ 3,591,722 $ 1,314 $ (25,195) $ 3,567,841 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 deposits $ 94,210 $ 87 $ (14) $ 94,283 Asset-backed securities 605,852 2,916 (1,787) 606,981 Commercial paper 144,218 47 (20) 144,245 Corporate notes and bonds 1,581,382 8,835 (5,188) 1,585,029 Foreign government bonds 50,180 206 (180) 50,206 Municipal securities 79,404 301 (231) 79,474 U.S. agency obligations 49,372 232 (12) 49,592 U.S. treasury securities 717,015 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): April 30, January 31, Due in one year or less $ 1,164,946 $ 919,871 Due in greater than one year 2,402,895 2,404,398 Total $ 3,567,841 $ 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 April 30, 2024 (in thousands): 12 months or less Greater than 12 months Fair Gross Fair Gross Certificates of deposits $ 66,055 $ (55) $ — $ — Asset-backed securities 415,388 (2,530) 91,285 (1,304) Commercial paper 257,932 (119) — — Corporate notes and bonds 1,191,177 (9,496) 235,212 (3,173) Foreign government bonds 41,939 (336) 12,439 (120) Municipal securities 44,941 (392) 16,998 (81) U.S. agency obligations 55,709 (211) — — U.S. treasury securities 498,599 (5,163) 136,749 (2,215) 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 Value Gross unrealized losses Certificates of deposits $ 22,465 $ (14) $ — $ — Asset-backed securities 120,543 (343) 105,419 (1,444) Commercial paper 70,037 (20) — — Corporate notes and bonds 394,823 (1,560) 280,092 (3,628) Foreign government bonds 8,915 (19) 9,784 (161) Municipal securities 31,418 (122) 13,686 (109) U.S. agency obligations 1,795 (3) 4,991 (9) U.S. treasury securities 280,946 (1,227) 204,274 (2,597)

Deferred Costs

Deferred Costs	3 Months Ended
Deferred Costs	Apr. 30, 2024
Deferred Costs [Abstract]
Deferred Costs	Deferred CostsDeferred costs, which consist of deferred sales commissions, was $24 million as of both April 30, 2024 and January 31, 2024. Amortization expense for the deferred costs included in sales and marketing expenses in the condensed consolidated statements of comprehensive income was $4 million for the three months ended April 30, 2024 and $5 million for the three months ended April 30, 2023. There have been no impairment losses recorded in relation to the costs capitalized for any period presented.

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
Property and Equipment, Net	Apr. 30, 2024
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): April 30, January 31, Land $ 3,040 $ 3,040 Building 20,984 20,984 Land improvements and building improvements 22,392 22,392 Equipment and computers 2,602 2,551 Furniture and fixtures 15,638 15,498 Leasehold improvements 30,915 30,793 Construction in progress 202 31 95,773 95,289 Less accumulated depreciation (37,731) (36,757) Total property and equipment, net $ 58,042 $ 58,532 Total depreciation expense was immaterial for the three months ended April 30, 2024 and 2023. Land is not depreciated.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
Goodwill and Intangible Assets	Apr. 30, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill was $440 million as of both April 30, 2024 and January 31, 2024. The following schedule presents the details of intangible assets as of April 30, 2024 (dollar amounts in thousands): April 30, 2024 Gross carrying amount Accumulated amortization Net Remaining useful life (in years) Existing technology $ 28,580 $ (21,686) $ 6,894 1.7 Customer relationships 113,157 (64,575) 48,582 5.1 Trade name and trademarks 13,900 (12,574) 1,326 0.5 Other intangibles 21,405 (19,976) 1,429 2.1 Total intangible assets $ 177,042 $ (118,811) $ 58,231 The following schedule presents the details of intangible assets as of January 31, 2024 (dollar amounts in thousands): January 31, 2024 Gross Accumulated Net Remaining Existing technology $ 28,580 $ (20,646) $ 7,934 2.0 Customer relationships 113,157 (61,755) 51,402 5.3 Trade name and trademarks 13,900 (11,925) 1,975 0.8 Other intangibles 21,405 (19,699) 1,706 2.2 Total intangible assets $ 177,042 $ (114,025) $ 63,017 Amortization expense associated with intangible assets was $5 million for the three months ended April 30, 2024 and 2023. As of April 30, 2024, the estimated amortization expense for intangible assets was as follows (in thousands): Fiscal Year Estimated Remaining for 2025 $ 13,771 2026 14,147 2027 8,922 2028 7,778 2029 7,782 Thereafter 5,831 Total $ 58,231

Accrued Expenses

Accrued Expenses	3 Months Ended
Accrued Expenses	Apr. 30, 2024
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consisted of the following as of the dates shown (in thousands): April 30, January 31, Accrued commissions $ 3,168 $ 9,848 Accrued bonus 3,545 3,481 Accrued vacation (1) 8,296 7,375 Payroll tax payable 13,771 13,829 Accrued other compensation and benefits 9,975 8,900 Total accrued compensation and benefits $ 38,755 $ 43,433 Accrued fees payable to Salesforce, Inc. 6,536 $ 6,562 Taxes payable 5,881 7,632 Other accrued expenses (2) 28,770 18,786 Total accrued expenses and other current liabilities $ 41,187 $ 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.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Apr. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying amounts of accounts receivable and other current assets, accounts payable, and accrued liabilities approximate their fair value due to their short-term nature. Financial assets and liabilities recorded at fair value in the condensed 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 April 30, 2024 (in thousands): Level 1 Level 2 Total Assets Cash equivalents: Money market funds $ 292,069 $ — $ 292,069 U.S. Treasury securities — 67,891 67,891 Commercial paper — 35,543 35,543 Short-term investments: Certificates of deposit — 98,618 98,618 Asset-backed securities — 656,355 656,355 Commercial paper — 284,018 284,018 Corporate notes and bonds — 1,707,067 1,707,067 Foreign government bonds — 54,378 54,378 Municipal securities — 76,348 76,348 U.S. agency obligations — 55,709 55,709 U.S. Treasury securities — 635,348 635,348 Foreign currency derivative contracts — 108 108 Total financial assets $ 292,069 $ 3,671,383 $ 3,963,452 Liabilities Foreign currency derivative contracts $ — $ (806) $ (806) Total financial liabilities $ — $ (806) $ (806) 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 condensed consolidated statements of comprehensive income. Cash flows from such forward contracts are classified as operating activities. The realized foreign currency gains were not material for both the three months ended April 30, 2024 and 2023. The fair value of our outstanding derivative instruments is summarized below (in thousands): April 30, January 31, Notional amount of foreign currency derivative contracts $ 133,096 $ 201,407 Fair value of foreign currency derivative contracts 133,909 201,024

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Apr. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesFor the three months ended April 30, 2024 and 2023, our effective tax rates were 21.9% and (43.3)%, respectively. During the three months ended April 30, 2024, as compared to the prior year period, our effective tax rate increased primarily due to reduced excess tax benefits related to equity compensation. We recognized excess tax benefits of $4 million and $64 million in our provision for income taxes for the three months ended April 30, 2024 and 2023, respectively. The decrease in excess tax benefits during the three months ended April 30, 2024 was primarily due to stock option exercises by our Chief Executive Officer in the prior year and none in the current year.

Deferred Revenue, Performance O

Deferred Revenue, Performance Obligations, and Unbilled Accounts Receivable	3 Months Ended
	Apr. 30, 2024
Revenue Recognition and Deferred Revenue [Abstract]
Deferred Revenue, Performance Obligations, and Unbilled Accounts Receivable	Deferred Revenue, Performance Obligations, and Unbilled Accounts Receivable Of the beginning deferred revenue balance for the respective periods, we recognized $440 million of subscription services revenue for the three months ended April 30, 2024 and $354 million for the three months ended April 30, 2023. Professional services revenue recognized in the same periods from deferred revenue balances at the beginning of the respective periods was immaterial. Transaction Price Allocated to the Remaining Performance Obligations As of April 30, 2024, the amount of the transaction price allocated to remaining performance obligations for non-cancellable 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 April 30, 2024, unbilled accounts receivable consisted of (i) a receivable of $35 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. 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.

Leases

Leases	3 Months Ended
Leases	Apr. 30, 2024
Leases [Abstract]
Leases	Leases We have operating leases for our corporate offices. Our leases have various expiration dates through 2034, some of which include options to extend the leases for up to seven years. Additionally, we are the sublessor for certain office space. Our sublease income for each of the three months ended April 30, 2024 and 2023 was immaterial. For the three months ended April 30, 2024 and 2023, our operating lease expense was $4 million. Supplemental cash flow information related to leases was as follows (in thousands): Three months ended April 30, 2024 2023 Cash paid for operating lease liabilities $ 2,253 $ 3,295 Operating lease right-of-use assets obtained in exchange for new operating lease liabilities 605 — Supplemental balance sheet information related to operating leases was as follows: April 30, 2024 January 31, 2024 Weighted Average Remaining Lease Term 6.5 years 6.6 years Weighted Average Discount Rate 4.4 % 4.4 % As of April 30, 2024, remaining maturities of operating lease liabilities are as follows (in thousands): Fiscal Year Remaining for 2025 $ 9,552 2026 11,037 2027 10,027 2028 9,181 2029 6,626 Thereafter 18,274 Total operating lease payments 64,697 Less imputed interest (8,954) Total operating lease liabilities $ 55,743

Stockholders' Equity

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Apr. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stockholders' Equity	Stockholders’ Equity Common Stock As of April 30, 2024, we had 161,624,611 shares of common stock outstanding. Stock Option Activity A summary of stock option activity for the three months ended April 30, 2024 is as follows: Number of shares Weighted average exercise price Weighted average remaining contractual term (in years) Aggregate Options outstanding at January 31, 2024 11,147,810 $ 157.20 6.7 $ 626 Options granted 1,914,837 214.82 Options exercised (178,777) 159.05 Options forfeited/cancelled (132,323) 208.61 Options outstanding at April 30, 2024 12,751,547 $ 165.33 6.9 $ 551 Options vested and exercisable at April 30, 2024 6,180,088 $ 136.47 5.4 $ 441 Options vested and exercisable at April 30, 2024 and expected to vest thereafter 12,751,547 $ 165.33 6.9 $ 551 The options granted during the three months ended April 30, 2024 were predominantly made in connection with our annual performance review cycle. The weighted average grant-date fair value of options granted was $101.26 per option for the three months ended April 30, 2024. As of April 30, 2024, there was $485 million in unrecognized compensation cost related to unvested stock options granted under the 2012 Equity Incentive Plan and 2013 Equity Incentive Plan. This cost is expected to be recognized over a weighted average period of 2.6 years. As of April 30, 2024, we had authorized and unissued shares of common stock sufficient to satisfy exercises of stock options. The total intrinsic value of options exercised was approximately $12 million for the three months ended April 30, 2024. 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: Three months ended April 30, 2024 2023 Volatility 40% - 41% 39% - 40% Expected term (in years) 6.25 - 7.00 6.25 - 7.00 Risk-free interest rate 4.12% - 4.65% 3.34% - 3.99% Dividend yield —% —% Restricted Stock Units A summary of restricted stock unit (RSU) activity for the three months ended April 30, 2024 is as follows: Unreleased restricted stock units Weighted average grant date fair value Balance at January 31, 2024 1,011,731 $ 192.77 RSUs granted 882,706 214.83 RSUs vested (295,043) 179.19 RSUs forfeited/cancelled (15,610) 202.48 Balance at April 30, 2024 1,583,784 207.50 As of April 30, 2024, there was a total of $252 million in unrecognized compensation cost related to unvested RSUs. This cost is expected to be recognized over a weighted-average period of approximately 1.4 years. The total grant date fair value of RSUs vested was $67 million for the three months ended April 30, 2024.

Net Income per Share

Net Income per Share	3 Months Ended
Net Income per Share	Apr. 30, 2024
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 the three months ended April 30, 2023, we have disclosed earnings per share for Class A and Class B common stock for the three months ended April 30, 2023. For the three months ended April 30, 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): Three months ended April 30, 2024 2023 Common Class A Class B Basic Numerator Net income, basic $ 161,664 $ 119,574 $ 11,947 Denominator Weighted average shares used in computing net income per share, basic 161,421 145,332 14,520 Net income per share, basic $ 1.00 $ 0.82 $ 0.82 Diluted Numerator Net income, basic $ 161,664 $ 119,574 $ 11,947 Reallocation as a result of conversion of Class B to Class A common stock: Net income, basic — 11,947 — Reallocation of net income to Class B common stock — — 1,964 Net income, diluted $ 161,664 $ 131,521 $ 13,911 Denominator Number of shares used for basic net income per share computation 161,421 145,332 14,520 Conversion of Class B to Class A common stock — 14,520 — Effect of potentially dilutive common shares 2,973 2,669 2,669 Weighted average shares used in computing net income per share, diluted 164,394 162,521 17,189 Net income per share, diluted $ 0.98 $ 0.81 $ 0.81 Potential common share equivalents excluded where the inclusion would be anti-dilutive are as follows: Three months ended April 30, 2024 2023 Options and awards 2,972,590 5,749,358

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Apr. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation IQVIA Litigation Matters Veeva OpenData/Network Action. On January 10, 2017, IQVIA Inc. (formerly Quintiles IMS Incorporated) and IMS Software Services, Ltd. (collectively, “IQVIA”) filed a complaint against us in the U.S. District Court for the District of New Jersey (IQVIA Inc. v. Veeva Systems Inc. (No. 2:17-cv-00177)). In the complaint, IQVIA alleges that we used unauthorized access to proprietary IQVIA data to improve our software and data products and that our software is designed to steal IQVIA trade secrets. IQVIA further alleges that we have intentionally gained unauthorized access to IQVIA proprietary information to gain an unfair advantage in marketing our products and that we have made false statements concerning IQVIA’s conduct and our data security capabilities. IQVIA asserts claims under both federal and state misappropriation of trade secret laws, federal false advertising law, and common law claims for unjust enrichment, tortious interference, and unfair trade practices. The complaint seeks declaratory and injunctive relief and unspecified monetary damages. On March 13, 2017, we filed our answer denying IQVIA's claims and filed counterclaims. Our counterclaims allege that IQVIA, as the dominant provider of data for life sciences companies, has abused monopoly power to exclude Veeva OpenData and Veeva Network from their respective markets. The counterclaims allege that IQVIA has engaged in various tactics to prevent customers from using our applications and has deliberately raised costs and increased the difficulty of attempting to switch from IQVIA data to our data products. As amended, our counterclaims assert federal and state antitrust claims, as well as claims under California’s Unfair Practices Act and common law claims for intentional interference with contractual relations, intentional interference with prospective economic advantage, and negligent misrepresentation. The counterclaims seek injunctive relief, monetary damages exceeding $200 million, and attorneys’ fees. On October 3, 2018, the court denied IQVIA’s motion to dismiss our antitrust claims. On February 18, 2020, IQVIA filed a motion for sanctions against Veeva, seeking default judgment and dismissal and, in the alternative, an adverse inference at trial related to discovery disputes. On May 7, 2021, the special master appointed to oversee litigation discovery ruled against IQVIA’s request for default judgment and dismissal and ruled in IQVIA’s favor with respect to certain other matters, including recommending to the trial judge that a permissive adverse inference instruction be issued to the jury with respect to certain documents that were not preserved by Veeva. Should the trial judge accept the recommendation, the jury would be permitted, but not required, to infer that certain evidence not preserved by Veeva would have been unfavorable to Veeva, if the jury first concludes that Veeva controlled the evidence, that the evidence was relevant, and that Veeva should have preserved the evidence. The jury is also likely to be instructed that it may also consider whether the non-preserved evidence was duplicative of other evidence produced by Veeva and whether Veeva’s conduct was reasonable in light of all circumstances. Veeva was also ordered to pay IQVIA’s fees and expenses incurred in connection with portions of its sanctions motion. On June 4, 2021, we appealed the special master’s ruling and IQVIA’s fee award to the federal district court judge. Veeva Nitro Action. On July 17, 2019, IQVIA filed a lawsuit in the U.S. District Court for the District of New Jersey (IQVIA Inc. v. Veeva Systems Inc. (No. 2:19-cv-15517)) (IQVIA Declaratory Action) seeking a declaratory judgment that IQVIA is not liable to Veeva for disallowing use of IQVIA’s data products in Veeva Nitro or any later-introduced Veeva software products. The IQVIA Declaratory Action does not seek any monetary relief. On July 18, 2019, we filed a lawsuit against IQVIA in the U.S. District Court for the Northern District of California (Veeva Systems Inc. v. IQVIA Inc. (No. 3:19-cv-04137)) (Veeva Nitro Action), alleging that IQVIA engaged in anticompetitive conduct as to Veeva Nitro. Our complaint asserts federal and state antitrust claims, as well as claims under California’s Unfair Competition Law and common law claims for intentional interference with contractual relations and intentional interference with prospective economic advantage. The complaint seeks injunctive relief and monetary damages. IQVIA filed its answer and affirmative defenses on September 5, 2019. On September 26, 2019, the Northern District of California transferred the Veeva Nitro Action to the District of New Jersey (Veeva Systems Inc. v. IQVIA Inc. (No. 2:19-cv-18558)). On March 24, 2020, we amended our complaint in the Veeva Nitro Action to include allegations of IQVIA’s anticompetitive conduct as to additional Veeva software applications, such as Veeva Andi, Veeva Align, and Veeva Vault MedComms; additional examples of IQVIA’s monopolistic behavior against Veeva Nitro; IQVIA’s unlawful access of Veeva’s proprietary software products; and a request for declaratory relief. IQVIA answered the amended complaint on May 22, 2020. On August 21, 2020, the District of New Jersey consolidated the Veeva Nitro Action and IQVIA Declaratory Action. Fact discovery in both the Veeva OpenData/Network Action and the Veeva Nitro Action is largely complete and expert discovery in both cases was completed in October 2023. The federal district court presiding over all of the IQVIA Litigation Matters has bifurcated the claims for trial such that IQVIA's trade secret claims will go to trial first. That trial is expected to begin on February 10, 2025. No trial date has been set for Veeva's antitrust claims asserted in the Veeva OpenData/Network Action or the Veeva Nitro Action. 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. Mednet Litigation Matter On July 14, 2020, Mednet Solutions, Inc. filed a complaint in Minnesota state court ( Mednet Solutions, Inc. v. Veeva Systems Inc. (No. 27-CV-20-9374)) against us and a Veeva employee who previously worked for Mednet. The complaint alleged that the employee improperly accessed Mednet’s computer systems after joining Veeva, in violation of his employment agreement to misappropriate Mednet’s confidential and trade secret information for our benefit. On December 9, 2020, the case was removed to the U.S. District Court for the District of Minnesota (No. 20-cv-2502). On May 30, 2024, we entered into a settlement agreement with Mednet, which will result in dismissal of the case with prejudice. 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.

Revenues by Product

Revenues by Product	3 Months Ended
Revenues by Product	Apr. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues by Product	Revenues by Product We group our revenues into two product areas: Commercial Solutions and R&D Solutions. Commercial Solutions revenues consist of revenues from our Veeva Commercial Cloud, Veeva Data Cloud, and Veeva Claims solutions. R&D Solutions consist of revenues from our Veeva Development Cloud, Veeva RegulatoryOne, and Veeva QualityOne solutions. Total revenues consist of the following (in thousands): Three months ended April 30, 2024 2023 Subscription services Commercial Solutions $ 261,316 $ 239,324 R&D Solutions 272,639 175,222 Total subscription services $ 533,955 $ 414,546 Professional services Commercial Solutions $ 48,772 $ 44,864 R&D Solutions 67,618 66,915 Total professional services $ 116,390 $ 111,779 Total revenues $ 650,345 $ 526,325

Information about Geographic Ar

Information about Geographic Areas	3 Months Ended
Information about Geographic Areas	Apr. 30, 2024
Segment Reporting [Abstract]
Information about Geographic Areas	Information about Geographic Areas We track and allocate revenues by principal geographic area rather than by individual country, which makes it impractical to disclose revenues for the United States or other specific foreign countries. We measure subscription services revenue primarily by the estimated location of the end users in each geographic area for our Commercial Solutions and primarily by the estimated location of usage in each geographic area for our R&D Solutions. We measure professional services revenue primarily by the location of the resources performing the professional services. Total revenues by geographic area were as follows for the periods shown below (in thousands): Three months ended April 30, 2024 2023 Revenues by geography North America $ 381,599 $ 313,975 Europe 189,915 142,423 Asia Pacific 62,440 55,577 Middle East, Africa, and Latin America 16,391 14,350 Total revenues $ 650,345 $ 526,325 Long-lived assets by geographic area are as follows as of the periods shown below (in thousands): April 30, January 31, Long-lived assets by geography North America $ 48,928 $ 49,725 Europe 6,607 6,885 Asia Pacific 1,075 751 Middle East, Africa, and Latin America 1,432 1,171 Total long-lived assets $ 58,042 $ 58,532

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Pay vs Performance Disclosure
Net income	$ 161,664	$ 131,521

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Apr. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Alan Mateo [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	The following table sets forth the material terms of all “Rule 10b5-1 trading arrangements” (as such term is defined under Item 408(a) of Regulation S-K) adopted or terminated by our Section 16 officers and directors during the fiscal quarter ended April 30, 2024: Name and Title Action Adoption / Termination Date Aggregate Number of Shares of Common Stock to be Sold (1) Expiration Date (2) Alan Mateo Former Executive Vice President, Global Sales (3) Adoption 3/20/2024 50,242 4/30/2025 (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. (3) As previously disclosed on our Current Report on Form 8-K filed on April 1, 2024, Mr. Mateo retired from his position as Executive Vice President, Global Sales and transitioned to a part-time advisor role, effective April 30, 2024.
Name	Alan Mateo
Title	Former Executive Vice President, Global Sales
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	3/20/2024
Arrangement Duration	406 days
Aggregate Available	50,242

Summary of Business and Signi_2

Summary of Business and Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 30, 2024
Accounting Policies [Abstract]
Description of Business	Description of Business Veeva is the leading provider of industry cloud solutions for the global life sciences industry. Our offerings span cloud software, data, analytics, professional services, and business consulting and are designed to meet the unique needs of our customers and their most strategic business functions—from research and development (R&D) 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, quality, regulatory, and safety functions help life sciences companies streamline their end-to-end product development processes to increase operational efficiency and maintain regulatory compliance throughout the product life cycle. We also bring the benefits of our content and data management solutions to a set of customers outside of life sciences in the consumer product and chemical industries. Our fiscal year end is January 31.
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation These unaudited condensed 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 interim financial reporting and include the accounts of our wholly-owned subsidiaries after elimination of intercompany balances and transactions. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended January 31, 2024, filed on March 25, 2024. There have been no changes to our significant accounting policies described in the annual report that have had a material impact on our condensed consolidated financial statements and related notes. The unaudited condensed consolidated balance sheet as of January 31, 2024 included herein was derived from the audited financial statements as of that date. These unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly our financial position, results of operations, comprehensive income, and cash flows for the interim periods but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year ending January 31, 2025 or any other period.
New Accounting Pronouncements Issued and Not Yet Adopted	New Accounting Pronouncements Issued and Not Yet Adopted 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. This new standard is effective for our fiscal year beginning on February 1, 2024 and interim periods beginning on February 1, 2025 on a retrospective basis. We are currently evaluating this ASU to determine its impact on our disclosures. 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.
Fair Value Measurements	Financial assets and liabilities recorded at fair value in the condensed 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 the three months ended April 30, 2023, we have disclosed earnings per share for Class A and Class B common stock for the three months ended April 30, 2023. For the three months ended April 30, 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.

Short-Term Investments (Tables)

Short-Term Investments (Tables)	3 Months Ended
Short-Term Investments (Tables)	Apr. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Short-Term Investments	As of April 30, 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 deposits $ 98,650 $ 23 $ (55) $ 98,618 Asset-backed securities 659,618 571 (3,834) 656,355 Commercial paper 284,131 6 (119) 284,018 Corporate notes and bonds 1,719,063 673 (12,669) 1,707,067 Foreign government bonds 54,834 — (456) 54,378 Municipal securities 76,780 41 (473) 76,348 U.S. agency obligations 55,920 — (211) 55,709 U.S. treasury securities 642,726 — (7,378) 635,348 Total available-for-sale securities $ 3,591,722 $ 1,314 $ (25,195) $ 3,567,841 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 deposits $ 94,210 $ 87 $ (14) $ 94,283 Asset-backed securities 605,852 2,916 (1,787) 606,981 Commercial paper 144,218 47 (20) 144,245 Corporate notes and bonds 1,581,382 8,835 (5,188) 1,585,029 Foreign government bonds 50,180 206 (180) 50,206 Municipal securities 79,404 301 (231) 79,474 U.S. agency obligations 49,372 232 (12) 49,592 U.S. treasury securities 717,015 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): April 30, January 31, Due in one year or less $ 1,164,946 $ 919,871 Due in greater than one year 2,402,895 2,404,398 Total $ 3,567,841 $ 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 April 30, 2024 (in thousands): 12 months or less Greater than 12 months Fair Gross Fair Gross Certificates of deposits $ 66,055 $ (55) $ — $ — Asset-backed securities 415,388 (2,530) 91,285 (1,304) Commercial paper 257,932 (119) — — Corporate notes and bonds 1,191,177 (9,496) 235,212 (3,173) Foreign government bonds 41,939 (336) 12,439 (120) Municipal securities 44,941 (392) 16,998 (81) U.S. agency obligations 55,709 (211) — — U.S. treasury securities 498,599 (5,163) 136,749 (2,215) 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 Value Gross unrealized losses Certificates of deposits $ 22,465 $ (14) $ — $ — Asset-backed securities 120,543 (343) 105,419 (1,444) Commercial paper 70,037 (20) — — Corporate notes and bonds 394,823 (1,560) 280,092 (3,628) Foreign government bonds 8,915 (19) 9,784 (161) Municipal securities 31,418 (122) 13,686 (109) U.S. agency obligations 1,795 (3) 4,991 (9) U.S. treasury securities 280,946 (1,227) 204,274 (2,597)

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
Property and Equipment, Net (Tables)	Apr. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consists of the following as of the dates shown (in thousands): April 30, January 31, Land $ 3,040 $ 3,040 Building 20,984 20,984 Land improvements and building improvements 22,392 22,392 Equipment and computers 2,602 2,551 Furniture and fixtures 15,638 15,498 Leasehold improvements 30,915 30,793 Construction in progress 202 31 95,773 95,289 Less accumulated depreciation (37,731) (36,757) Total property and equipment, net $ 58,042 $ 58,532

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
Goodwill and Intangible Assets (Tables)	Apr. 30, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Details of Intangible Assets	The following schedule presents the details of intangible assets as of April 30, 2024 (dollar amounts in thousands): April 30, 2024 Gross carrying amount Accumulated amortization Net Remaining useful life (in years) Existing technology $ 28,580 $ (21,686) $ 6,894 1.7 Customer relationships 113,157 (64,575) 48,582 5.1 Trade name and trademarks 13,900 (12,574) 1,326 0.5 Other intangibles 21,405 (19,976) 1,429 2.1 Total intangible assets $ 177,042 $ (118,811) $ 58,231 The following schedule presents the details of intangible assets as of January 31, 2024 (dollar amounts in thousands): January 31, 2024 Gross Accumulated Net Remaining Existing technology $ 28,580 $ (20,646) $ 7,934 2.0 Customer relationships 113,157 (61,755) 51,402 5.3 Trade name and trademarks 13,900 (11,925) 1,975 0.8 Other intangibles 21,405 (19,699) 1,706 2.2 Total intangible assets $ 177,042 $ (114,025) $ 63,017
Schedule of Estimated Amortization Expense	As of April 30, 2024, the estimated amortization expense for intangible assets was as follows (in thousands): Fiscal Year Estimated Remaining for 2025 $ 13,771 2026 14,147 2027 8,922 2028 7,778 2029 7,782 Thereafter 5,831 Total $ 58,231

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
Accrued Expenses (Tables)	Apr. 30, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following as of the dates shown (in thousands): April 30, January 31, Accrued commissions $ 3,168 $ 9,848 Accrued bonus 3,545 3,481 Accrued vacation (1) 8,296 7,375 Payroll tax payable 13,771 13,829 Accrued other compensation and benefits 9,975 8,900 Total accrued compensation and benefits $ 38,755 $ 43,433 Accrued fees payable to Salesforce, Inc. 6,536 $ 6,562 Taxes payable 5,881 7,632 Other accrued expenses (2) 28,770 18,786 Total accrued expenses and other current liabilities $ 41,187 $ 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.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Apr. 30, 2024
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 April 30, 2024 (in thousands): Level 1 Level 2 Total Assets Cash equivalents: Money market funds $ 292,069 $ — $ 292,069 U.S. Treasury securities — 67,891 67,891 Commercial paper — 35,543 35,543 Short-term investments: Certificates of deposit — 98,618 98,618 Asset-backed securities — 656,355 656,355 Commercial paper — 284,018 284,018 Corporate notes and bonds — 1,707,067 1,707,067 Foreign government bonds — 54,378 54,378 Municipal securities — 76,348 76,348 U.S. agency obligations — 55,709 55,709 U.S. Treasury securities — 635,348 635,348 Foreign currency derivative contracts — 108 108 Total financial assets $ 292,069 $ 3,671,383 $ 3,963,452 Liabilities Foreign currency derivative contracts $ — $ (806) $ (806) Total financial liabilities $ — $ (806) $ (806) 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): April 30, January 31, Notional amount of foreign currency derivative contracts $ 133,096 $ 201,407 Fair value of foreign currency derivative contracts 133,909 201,024

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Apr. 30, 2024
Leases [Abstract]
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases was as follows (in thousands): Three months ended April 30, 2024 2023 Cash paid for operating lease liabilities $ 2,253 $ 3,295 Operating lease right-of-use assets obtained in exchange for new operating lease liabilities 605 —
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to operating leases was as follows: April 30, 2024 January 31, 2024 Weighted Average Remaining Lease Term 6.5 years 6.6 years Weighted Average Discount Rate 4.4 % 4.4 %
Schedule of Maturity of Operating Lease Liabilities	As of April 30, 2024, remaining maturities of operating lease liabilities are as follows (in thousands): Fiscal Year Remaining for 2025 $ 9,552 2026 11,037 2027 10,027 2028 9,181 2029 6,626 Thereafter 18,274 Total operating lease payments 64,697 Less imputed interest (8,954) Total operating lease liabilities $ 55,743

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
Stockholders' Equity (Tables)	Apr. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	A summary of stock option activity for the three months ended April 30, 2024 is as follows: Number of shares Weighted average exercise price Weighted average remaining contractual term (in years) Aggregate Options outstanding at January 31, 2024 11,147,810 $ 157.20 6.7 $ 626 Options granted 1,914,837 214.82 Options exercised (178,777) 159.05 Options forfeited/cancelled (132,323) 208.61 Options outstanding at April 30, 2024 12,751,547 $ 165.33 6.9 $ 551 Options vested and exercisable at April 30, 2024 6,180,088 $ 136.47 5.4 $ 441 Options vested and exercisable at April 30, 2024 and expected to vest thereafter 12,751,547 $ 165.33 6.9 $ 551
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: Three months ended April 30, 2024 2023 Volatility 40% - 41% 39% - 40% Expected term (in years) 6.25 - 7.00 6.25 - 7.00 Risk-free interest rate 4.12% - 4.65% 3.34% - 3.99% Dividend yield —% —%
Schedule of Restricted Stock Unit (RSU) Activity	A summary of restricted stock unit (RSU) activity for the three months ended April 30, 2024 is as follows: Unreleased restricted stock units Weighted average grant date fair value Balance at January 31, 2024 1,011,731 $ 192.77 RSUs granted 882,706 214.83 RSUs vested (295,043) 179.19 RSUs forfeited/cancelled (15,610) 202.48 Balance at April 30, 2024 1,583,784 207.50

Net Income per Share (Tables)

Net Income per Share (Tables)	3 Months Ended
Net Income per Share (Tables)	Apr. 30, 2024
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): Three months ended April 30, 2024 2023 Common Class A Class B Basic Numerator Net income, basic $ 161,664 $ 119,574 $ 11,947 Denominator Weighted average shares used in computing net income per share, basic 161,421 145,332 14,520 Net income per share, basic $ 1.00 $ 0.82 $ 0.82 Diluted Numerator Net income, basic $ 161,664 $ 119,574 $ 11,947 Reallocation as a result of conversion of Class B to Class A common stock: Net income, basic — 11,947 — Reallocation of net income to Class B common stock — — 1,964 Net income, diluted $ 161,664 $ 131,521 $ 13,911 Denominator Number of shares used for basic net income per share computation 161,421 145,332 14,520 Conversion of Class B to Class A common stock — 14,520 — Effect of potentially dilutive common shares 2,973 2,669 2,669 Weighted average shares used in computing net income per share, diluted 164,394 162,521 17,189 Net income per share, diluted $ 0.98 $ 0.81 $ 0.81
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: Three months ended April 30, 2024 2023 Options and awards 2,972,590 5,749,358

Revenues by Product (Tables)

Revenues by Product (Tables)	3 Months Ended
Revenues by Product (Tables)	Apr. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Total Revenues	Total revenues consist of the following (in thousands): Three months ended April 30, 2024 2023 Subscription services Commercial Solutions $ 261,316 $ 239,324 R&D Solutions 272,639 175,222 Total subscription services $ 533,955 $ 414,546 Professional services Commercial Solutions $ 48,772 $ 44,864 R&D Solutions 67,618 66,915 Total professional services $ 116,390 $ 111,779 Total revenues $ 650,345 $ 526,325

Information about Geographic _2

Information about Geographic Areas (Tables)	3 Months Ended
Information about Geographic Areas (Tables)	Apr. 30, 2024
Segment Reporting [Abstract]
Schedule of Revenues by Geographic Area	Total revenues by geographic area were as follows for the periods shown below (in thousands): Three months ended April 30, 2024 2023 Revenues by geography North America $ 381,599 $ 313,975 Europe 189,915 142,423 Asia Pacific 62,440 55,577 Middle East, Africa, and Latin America 16,391 14,350 Total revenues $ 650,345 $ 526,325
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): April 30, January 31, Long-lived assets by geography North America $ 48,928 $ 49,725 Europe 6,607 6,885 Asia Pacific 1,075 751 Middle East, Africa, and Latin America 1,432 1,171 Total long-lived assets $ 58,042 $ 58,532

Short-Term Investments - Schedu

Short-Term Investments - Schedule of Short-Term Investments (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	$ 3,591,722	$ 3,321,633
Gross unrealized gains	1,314	13,892
Gross unrealized losses	(25,195)	(11,256)
Estimated fair value	3,567,841	3,324,269
Certificates of deposits
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	98,650	94,210
Gross unrealized gains	23	87
Gross unrealized losses	(55)	(14)
Estimated fair value	98,618	94,283
Asset-backed securities
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	659,618	605,852
Gross unrealized gains	571	2,916
Gross unrealized losses	(3,834)	(1,787)
Estimated fair value	656,355	606,981
Commercial paper
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	284,131	144,218
Gross unrealized gains	6	47
Gross unrealized losses	(119)	(20)
Estimated fair value	284,018	144,245
Corporate notes and bonds
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	1,719,063	1,581,382
Gross unrealized gains	673	8,835
Gross unrealized losses	(12,669)	(5,188)
Estimated fair value	1,707,067	1,585,029
Foreign government bonds
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	54,834	50,180
Gross unrealized gains	0	206
Gross unrealized losses	(456)	(180)
Estimated fair value	54,378	50,206
Municipal securities
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	76,780	79,404
Gross unrealized gains	41	301
Gross unrealized losses	(473)	(231)
Estimated fair value	76,348	79,474
U.S. agency obligations
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	55,920	49,372
Gross unrealized gains	0	232
Gross unrealized losses	(211)	(12)
Estimated fair value	55,709	49,592
U.S. treasury securities
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	642,726	717,015
Gross unrealized gains	0	1,268
Gross unrealized losses	(7,378)	(3,824)
Estimated fair value	$ 635,348	$ 714,459

Short-Term Investments - Sche_2

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	Apr. 30, 2024	Jan. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Due in one year or less	$ 1,164,946	$ 919,871
Due in greater than one year	2,402,895	2,404,398
Total	$ 3,567,841	$ 3,324,269

Short-Term Investments - Sche_3

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	Apr. 30, 2024	Jan. 31, 2024
Certificates of deposits
Debt Securities, Available-for-Sale [Line Items]
12 months or less, Fair value	$ 66,055	$ 22,465
12 months or less, Gross unrealized losses	(55)	(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	415,388	120,543
12 months or less, Gross unrealized losses	(2,530)	(343)
Greater than 12 months, Fair value	91,285	105,419
Greater than 12 months, Gross unrealized losses	(1,304)	(1,444)
Commercial paper
Debt Securities, Available-for-Sale [Line Items]
12 months or less, Fair value	257,932	70,037
12 months or less, Gross unrealized losses	(119)	(20)
Greater than 12 months, Fair value	0	0
Greater than 12 months, Gross unrealized losses	0	0
Corporate notes and bonds
Debt Securities, Available-for-Sale [Line Items]
12 months or less, Fair value	1,191,177	394,823
12 months or less, Gross unrealized losses	(9,496)	(1,560)
Greater than 12 months, Fair value	235,212	280,092
Greater than 12 months, Gross unrealized losses	(3,173)	(3,628)
Foreign government bonds
Debt Securities, Available-for-Sale [Line Items]
12 months or less, Fair value	41,939	8,915
12 months or less, Gross unrealized losses	(336)	(19)
Greater than 12 months, Fair value	12,439	9,784
Greater than 12 months, Gross unrealized losses	(120)	(161)
Municipal securities
Debt Securities, Available-for-Sale [Line Items]
12 months or less, Fair value	44,941	31,418
12 months or less, Gross unrealized losses	(392)	(122)
Greater than 12 months, Fair value	16,998	13,686
Greater than 12 months, Gross unrealized losses	(81)	(109)
U.S. agency obligations
Debt Securities, Available-for-Sale [Line Items]
12 months or less, Fair value	55,709	1,795
12 months or less, Gross unrealized losses	(211)	(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	498,599	280,946
12 months or less, Gross unrealized losses	(5,163)	(1,227)
Greater than 12 months, Fair value	136,749	204,274
Greater than 12 months, Gross unrealized losses	$ (2,215)	$ (2,597)

Deferred Costs (Details)

Deferred Costs (Details) - USD ($)	3 Months Ended
Deferred Costs (Details) - USD ($)	Apr. 30, 2024	Apr. 30, 2023	Jan. 31, 2024
Deferred Costs [Abstract]
Deferred costs	$ 23,967,000		$ 23,916,000
Amortization of deferred costs	4,000,000	$ 5,000,000
Impairment losses recorded in relation to the costs capitalized	$ 0	$ 0

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 95,773	$ 95,289
Less accumulated depreciation	(37,731)	(36,757)
Total property and equipment, net	58,042	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	2,602	2,551
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	15,638	15,498
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	30,915	30,793
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 202	$ 31

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Jan. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Goodwill	$ 439,877		$ 439,877
Amortization expense	$ 5,000	$ 5,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Details of Intangible Assets (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 177,042	$ 177,042
Accumulated amortization	(118,811)	(114,025)
Net	58,231	63,017
Existing technology
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	28,580	28,580
Accumulated amortization	(21,686)	(20,646)
Net	$ 6,894	$ 7,934
Remaining useful life (in years)	1 year 8 months 12 days	2 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 113,157	$ 113,157
Accumulated amortization	(64,575)	(61,755)
Net	$ 48,582	$ 51,402
Remaining useful life (in years)	5 years 1 month 6 days	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	(12,574)	(11,925)
Net	$ 1,326	$ 1,975
Remaining useful life (in years)	6 months	9 months 18 days
Other intangibles
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 21,405	$ 21,405
Accumulated amortization	(19,976)	(19,699)
Net	$ 1,429	$ 1,706
Remaining useful life (in years)	2 years 1 month 6 days	2 years 2 months 12 days

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Remainder for 2025	$ 13,771
2026	14,147
2027	8,922
2028	7,778
2029	7,782
Thereafter	5,831
Net	$ 58,231	$ 63,017

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Payables and Accruals [Abstract]
Accrued commissions	$ 3,168	$ 9,848
Accrued bonus	3,545	3,481
Accrued vacation	8,296	7,375
Payroll tax payable	13,771	13,829
Accrued other compensation and benefits	9,975	8,900
Total accrued compensation and benefits	38,755	43,433
Accrued fees payable to Salesforce, Inc.	6,536	6,562
Taxes payable	5,881	7,632
Other accrued expenses	28,770	18,786
Total accrued expenses and other current liabilities	$ 41,187	$ 32,980

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Assets
Short-term investments	$ 3,567,841	$ 3,324,269
U.S. Treasury securities
Assets
Short-term investments	635,348	714,459
Commercial paper
Assets
Short-term investments	284,018	144,245
Certificates of deposit
Assets
Short-term investments	98,618	94,283
Asset-backed securities
Assets
Short-term investments	656,355	606,981
Corporate notes and bonds
Assets
Short-term investments	1,707,067	1,585,029
Foreign government bonds
Assets
Short-term investments	54,378	50,206
Municipal securities
Assets
Short-term investments	76,348	79,474
U.S. agency obligations
Assets
Short-term investments	55,709	49,592
Fair value, measurements recurring
Assets
Total financial assets	3,963,452	3,408,051
Liabilities
Total financial liabilities	(806)	(232)
Fair value, measurements recurring \| Money market funds
Assets
Cash equivalents:	292,069	73,197
Fair value, measurements recurring \| U.S. Treasury securities
Assets
Cash equivalents:	67,891	9,969
Short-term investments	635,348	714,459
Fair value, measurements recurring \| Commercial paper
Assets
Cash equivalents:	35,543
Short-term investments	284,018	144,245
Fair value, measurements recurring \| Certificates of deposit
Assets
Short-term investments	98,618	94,283
Fair value, measurements recurring \| Asset-backed securities
Assets
Short-term investments	656,355	606,981
Fair value, measurements recurring \| Corporate notes and bonds
Assets
Short-term investments	1,707,067	1,585,029
Fair value, measurements recurring \| Foreign government bonds
Assets
Short-term investments	54,378	50,206
Fair value, measurements recurring \| Municipal securities
Assets
Short-term investments	76,348	79,474
Fair value, measurements recurring \| U.S. agency obligations
Assets
Short-term investments	55,709	49,592
Fair value, measurements recurring \| Foreign currency derivative contracts
Assets
Short-term investments	108	616
Fair value, measurements recurring \| Foreign currency derivative contracts
Liabilities
Foreign currency derivative contracts	(806)	(232)
Fair value, measurements recurring \| Level 1
Assets
Total financial assets	292,069	73,197
Liabilities
Total financial liabilities	0	0
Fair value, measurements recurring \| Level 1 \| Money market funds
Assets
Cash equivalents:	292,069	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 \| Commercial paper
Assets
Cash equivalents:	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 \| 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	3,671,383	3,334,854
Liabilities
Total financial liabilities	(806)	(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:	67,891	9,969
Short-term investments	635,348	714,459
Fair value, measurements recurring \| Level 2 \| Commercial paper
Assets
Cash equivalents:	35,543
Short-term investments	284,018	144,245
Fair value, measurements recurring \| Level 2 \| Certificates of deposit
Assets
Short-term investments	98,618	94,283
Fair value, measurements recurring \| Level 2 \| Asset-backed securities
Assets
Short-term investments	656,355	606,981
Fair value, measurements recurring \| Level 2 \| Corporate notes and bonds
Assets
Short-term investments	1,707,067	1,585,029
Fair value, measurements recurring \| Level 2 \| Foreign government bonds
Assets
Short-term investments	54,378	50,206
Fair value, measurements recurring \| Level 2 \| Municipal securities
Assets
Short-term investments	76,348	79,474
Fair value, measurements recurring \| Level 2 \| U.S. agency obligations
Assets
Short-term investments	55,709	49,592
Fair value, measurements recurring \| Level 2 \| Foreign currency derivative contracts
Assets
Short-term investments	108	616
Fair value, measurements recurring \| Level 2 \| Foreign currency derivative contracts
Liabilities
Foreign currency derivative contracts	$ (806)	$ (232)

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Fair Value of Outstanding Derivative Instruments (Details) - Foreign currency derivative contracts - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Derivatives, Fair Value [Line Items]
Notional amount of foreign currency derivative contracts	$ 133,096	$ 201,407
Fair value of foreign currency derivative contracts	$ 133,909	$ 201,024

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Apr. 30, 2024	Apr. 30, 2023
Income Tax Disclosure [Abstract]
Effective tax rates	21.90%	(43.30%)
Excess tax benefits in provision from employee stock plans	$ 4	$ 64

Deferred Revenue, Performance_2

Deferred Revenue, Performance Obligations, and Unbilled Accounts Receivable - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Jan. 31, 2024
Disaggregation of Revenue [Line Items]
Unbilled accounts receivable	$ 38,771		$ 36,365
Subscription services
Disaggregation of Revenue [Line Items]
Recognition of deferred revenue	440,000	$ 354,000
Unbilled accounts receivable	4,000		4,000
Professional services and other
Disaggregation of Revenue [Line Items]
Unbilled accounts receivable	$ 35,000		$ 32,000

Deferred Revenue, Performance_3

Deferred Revenue, Performance Obligations, and Unbilled Accounts Receivable - Performance Obligation Duration (Details)	Apr. 30, 2024
Subscription services \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-05-01
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, recognition period	12 months

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Leases [Line Items]
Operating lease expense	$ 4	$ 4
Maximum
Leases [Line Items]
Operating leases, options to extend leases term	7 years

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Leases [Abstract]
Cash paid for operating lease liabilities	$ 2,253	$ 3,295
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	$ 605	$ 0

Leases - Schedule of Suppleme_2

Leases - Schedule of Supplemental Balance Sheet Information Related to Leases (Details)	Apr. 30, 2024	Jan. 31, 2024
Operating Leases
Weighted Average Remaining Lease Term	6 years 6 months	6 years 7 months 6 days
Weighted Average Discount Rate	4.40%	4.40%

Leases- Schedule of Maturity of

Leases- Schedule of Maturity of Operating Lease Liabilities (Details) $ in Thousands	Apr. 30, 2024 USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remaining for 2025	$ 9,552
2026	11,037
2027	10,027
2028	9,181
2029	6,626
Thereafter	18,274
Total operating lease payments	64,697
Less imputed interest	(8,954)
Total operating lease liabilities	$ 55,743

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Apr. 30, 2024 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares outstanding (in shares) \| shares	161,624,611
Weighted-average grant date fair value of options granted (in usd per share) \| $ / shares	$ 101.26
Unrecognized compensation cost related to unvested stock options granted	$ 485
Intrinsic value of options exercised	$ 12
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of unvested stock (in years)	2 years 7 months 6 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of unvested stock (in years)	1 year 4 months 24 days
Unrecognized compensation cost related to unvested RSUs	$ 252
Grant date fair value of RSUs vested	$ 67

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Apr. 30, 2024	Jan. 31, 2024
Number of shares
Options outstanding, beginning balance (in shares)	11,147,810
Options granted (in shares)	1,914,837
Options exercised (in shares)	(178,777)
Options forfeited/cancelled (in shares)	(132,323)
Options outstanding, ending balance (in shares)	12,751,547	11,147,810
Options vested and exercisable (in shares)	6,180,088
Options vested and exercisable and expected to vest thereafter (in shares)	12,751,547
Weighted average exercise price
Options outstanding, beginning balance (in usd per share)	$ 157.20
Options granted (in usd per share)	214.82
Options exercised (in usd per share)	159.05
Options forfeited/cancelled (in usd per share)	208.61
Options outstanding, ending balance (in usd per share)	165.33	$ 157.20
Options vested and exercisable (in usd per share)	136.47
Options vested and exercisable and expected to vest thereafter (in usd per share)	$ 165.33
Weighted average remaining contractual term (in years), Options outstanding	6 years 10 months 24 days	6 years 8 months 12 days
Weighted average remaining contractual term (in years), Options vested and exercisable	5 years 4 months 24 days
Weighted average remaining contractual term (in years), Options vested and exercisable and expected to vest thereafter	6 years 10 months 24 days
Aggregate intrinsic value (in millions)
Options outstanding	$ 551	$ 626
Options vested and exercisable	441
Options vested and exercisable and expected to vest thereafter	$ 551

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Weighted-Average Assumptions Used to Estimate Grant Date Fair Value of Options Granted (Details) - Stock Options	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility, minimum	40%	39%
Volatility, maximum	41%	40%
Risk-free interest rate, Minimum	4.12%	3.34%
Risk-free interest rate, Maximum	4.65%	3.99%
Dividend yield	0%	0%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 3 months	6 years 3 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	7 years	7 years

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of Restricted Stock Unit (RSU) Activity (Details) - Restricted Stock Units (RSUs)	3 Months Ended
	Apr. 30, 2024 $ / shares shares
Unreleased restricted stock units
Beginning balance (in shares) \| shares	1,011,731
RSUs granted (in shares) \| shares	882,706
RSUs vested (in shares) \| shares	(295,043)
RSUs forfeited/cancelled (in shares) \| shares	(15,610)
Ending balance (in shares) \| shares	1,583,784
Weighted average grant date fair value
Beginning balance (in usd per share) \| $ / shares	$ 192.77
RSUs granted (in usd per share) \| $ / shares	214.83
RSUs vested (in usd per share) \| $ / shares	179.19
RSUs forfeited/cancelled (in usd per share) \| $ / shares	202.48
Ending balance (in usd per share) \| $ / shares	$ 207.50

Net Income per Share - Schedule

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	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Net income, basic	$ 161,664
Weighted average shares used in computing net income per share, basic (in shares)	161,421	159,852
Net income per share, basic (in usd per share)	$ 1	$ 0.82
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	$ 161,664
Conversion of Class B to Class A common stock (in shares)	0
Effect of potentially dilutive common shares (in shares)	2,973
Weighted average shares used in computing net income per share, diluted (in shares)	164,394	162,521
Net income per share, diluted (in usd per share)	$ 0.98	$ 0.81
Class A
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Net income, basic		$ 119,574
Weighted average shares used in computing net income per share, basic (in shares)		145,332
Net income per share, basic (in usd per share)		$ 820
Reallocation as a result of conversion of Class B to Class A common stock:
Net income, basic		$ 11,947
Reallocation of net income to Class B common stock		0
Net income, diluted		$ 131,521
Conversion of Class B to Class A common stock (in shares)		14,520
Effect of potentially dilutive common shares (in shares)		2,669
Weighted average shares used in computing net income per share, diluted (in shares)		162,521
Net income per share, diluted (in usd per share)		$ 0.81
Class B
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Net income, basic		$ 11,947
Weighted average shares used in computing net income per share, basic (in shares)		14,520
Net income per share, basic (in usd per share)		$ 820
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		1,964
Net income, diluted		$ 13,911
Conversion of Class B to Class A common stock (in shares)		0
Effect of potentially dilutive common shares (in shares)		2,669
Weighted average shares used in computing net income per share, diluted (in shares)		17,189
Net income per share, diluted (in usd per share)		$ 0.81

Net Income per Share - Schedu_2

Net Income per Share - Schedule of Potential Common Share Equivalents Excluded where the Inclusion would be Anti-dilutive (Details) - shares	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Earnings Per Share [Abstract]
Options and awards (in shares)	2,972,590	5,749,358

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Mar. 13, 2017 USD ($)
IQVIA Litigation Matter \| Minimum
Long-term Purchase Commitment [Line Items]
Monetary damages	$ 200

Revenues by Product (Details)

Revenues by Product (Details) $ in Thousands	3 Months Ended
Revenues by Product (Details) $ in Thousands	Apr. 30, 2024 USD ($) product_area	Apr. 30, 2023 USD ($)
Disaggregation of Revenue [Line Items]
Number of product areas \| product_area	2
Total revenues	$ 650,345	$ 526,325
Total subscription services
Disaggregation of Revenue [Line Items]
Total revenues	533,955	414,546
Commercial Solutions
Disaggregation of Revenue [Line Items]
Total revenues	261,316	239,324
R&D Solutions
Disaggregation of Revenue [Line Items]
Total revenues	272,639	175,222
Total professional services
Disaggregation of Revenue [Line Items]
Total revenues	116,390	111,779
Commercial Solutions
Disaggregation of Revenue [Line Items]
Total revenues	48,772	44,864
R&D Solutions
Disaggregation of Revenue [Line Items]
Total revenues	$ 67,618	$ 66,915

Information about Geographic _3

Information about Geographic Areas - Schedule of Revenues by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Revenues by geography
Total revenues	$ 650,345	$ 526,325
North America
Revenues by geography
Total revenues	381,599	313,975
Europe
Revenues by geography
Total revenues	189,915	142,423
Asia Pacific
Revenues by geography
Total revenues	62,440	55,577
Middle East, Africa, and Latin America
Revenues by geography
Total revenues	$ 16,391	$ 14,350

Information about Geographic _4

Information about Geographic Areas - Schedule of Long-Lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Long-lived assets by geography
Total long-lived assets	$ 58,042	$ 58,532
North America
Long-lived assets by geography
Total long-lived assets	48,928	49,725
Europe
Long-lived assets by geography
Total long-lived assets	6,607	6,885
Asia Pacific
Long-lived assets by geography
Total long-lived assets	1,075	751
Middle East, Africa, and Latin America
Long-lived assets by geography
Total long-lived assets	$ 1,432	$ 1,171