Veeva Data Cloud Presentation

Reconciliation of GAAP to Non-GAAP Measures Gross margin on total revenues on a GAAP basis FY'181 69.4% 1.4 Stock-based compensation expense Amortization of purchased intangibles Gross margin on total revenues on a non-GAAP basis 0.6 71.4% FY'19 71.6% 1.4 0.3 73.3% FY'20 72.5% 1.8 0.4 74.7% FY'21 72.1% 2.2 0.4 74.7% FY'18¹ % of Revenue FY'19 % of Revenue FY'20 % of Revenue FY'21 % of Revenue Sales and marketing expense on a GAAP basis $ 128.8 19% $ 148.9 17% $ 190.3 17% $ 235.0 16% Stock-based compensation expense (16.3) (18.4) (27.5) (40.6) Amortization of purchased intangibles (3.9) (3.9) (6.0) (14.2) Sales and marketing expense on a non-GAAP basis $ 108.6 16% $ 126.6 15% $ 156.8 14% $ 180.2 12% FY'181 % of Revenue FY'19 % of Revenue FY'20 % of Revenue FY'21 % of Revenue Research and development expense on a GAAP basis $ 132.0 19% $ 158.8 18% $ 209.9 19% $ 294.2 20% Stock-based compensation expense (17.8) (22.1) (37.0) (63.5) Amortization of purchased intangibles (0.1) Research and development expense on a non-GAAP basis $ 114.2 17% $ 136.7 16% $ 172.9 16% $ 230.6 16% FY'18¹ % of Revenue FY'19 % of Revenue FY'20 % of Revenue FY'21 % of Revenue General and administrative expense on a GAAP basis $ 60.4 9% $ Stock-based compensation expense (10.0) 86.4 (23.8) 10% $ 114.3 10% $ 149.1 10% (31.2) (48.4) Amortization of purchased intangibles (0.1) (0.2) General and administrative expense on a non-GAAP basis $ 50.4 7% $ 62.6 7% $ 83.0 8% $ 100.5 7% Operating margin on a GAAP basis Stock-based compensation expense Amortization of purchased intangibles Operating margin on a non-GAAP basis FY'18¹ 22.9% FY'19 25.8% 7.7 8.9 1.1 0.8 31.7% 35.5% FY'20 25.9% 10.5 0.9 37.3% FY'21 25.8% 12.6 1.4 39.8% Fiscal Year Ending January 31 1 Restated for ASC 606 Copyright Veeva Systems 2021

View entire presentation