Veeva Systems Inc VEEV Cash Flow

Veeva systems inc (VEEV)

CashFlow / Quarterly

Jan'20	Oct'19	Jul'19	Apr'19	Jan'19	Oct'18	Jul'18	Apr'18	Jan'18	Oct'17	Jul'17	Apr'17	Jan'17	Oct'16	Jul'16	Apr'16	Jan'16	Oct'15	Jul'15	Apr'15	Jan'15	Oct'14	Jul'14	Apr'14	Jan'14	Oct'13	Jul'13	Apr'13	Oct'12
Cash flows from operating activities
Net income
66,182	82,245	79,242	73,449	71,151	64,085	50,286	44,310	40,654	34,925	38,602	36,996	30,475	21,630	12,958	12,509	17,590	10,482	13,406	12,982	13,326	10,258	9,578	7,221	6,247	6,525	5,998	4,845	5,749
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
3,217	5,643	5,561	5,438	3,594	3,383	3,498	3,596	3,656	3,601	3,571	3,449	3,481	3,469	3,470	3,405	3,615	2,481	1,344	1,024	986	1,022	991	930	858	774	511	267	174
Amortization of premiums (accretion of discount) on short-term investments
278	722	1,096	1,178	1,051	848	353	179	-182	-365	-386	-456	-482	-481	-469	-420	-598	-693	-750	-763	-832	-611	-421	-312	-88	-98	-89	-89	-23
Stock-based compensation
37,459	29,321	28,370	20,756	19,778	19,918	19,718	17,011	14,863	14,018	13,380	11,788	11,686	10,955	10,014	8,143	7,157	6,691	5,611	4,799	4,084	3,585	3,400	3,256	2,914	2,086	1,215	735	181
Amortization of deferred costs
6,072	4,800	4,800	4,849	4,659	4,600	4,600	4,519	4,309	4,203	4,087	4,048	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-8,434	432	921	418	-10,733	1,824	868	-50	2,196	-44	-296	-647	-161	-157	36	-838	-	-308	-	-	-	-76	-	-	-	-86	-173	-	-192
(Gain) Loss on foreign currency from market-to-market derivative
8	74	-42	80	-5	19	186	-23	-146	134	-204	-49	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bad debt expense (recovery)
286	270	-159	-153	-64	84	-58	236	27	-63	-198	-8	10	235	90	-205	-16	-35	245	7	186	-28	41	28	56	-303	191	91	123
Changes in operating assets and liabilities:
Accounts receivable
242,164	-28,319	-18,804	-139,510	213,348	-21,658	-43,103	-69,592	158,271	-23,323	-16,345	-70,804	115,677	-23,080	7,277	-63,227	69,495	2,689	-1,995	-23,536	47,606	-16,684	721	2,812	9,886	9,417	-453	888	7,196
Unbilled accounts receivable
1,778	9,515	-1,982	5,244	-1,867	5,212	-2,858	4,287	-1,002	4,852	-7,453	7,932	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred costs
11,709	4,500	4,427	4,601	7,515	4,504	3,371	3,551	6,862	4,170	4,046	3,717	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes payable
-3,727	3,909	611	338	112	1,029	1,992	-2,496	-6,583	6,125	483	-2,545	-2,063	1,330	1,264	380	-5,595	2,758	-3,019	2,862	5,515	769	-280	-2,678	949	-1,750	-3,590	-393	2,541
Prepaid expenses and other current and long-term assets
4,213	-5,610	1,338	2,759	1,035	6,018	2,796	713	943	390	-331	1,491	-3,607	-5,300	9,466	-1,390	559	-6,266	5,560	-33	1,008	2,294	-511	1,861	834	1,224	365	528	335
Accounts payable
1,597	1,253	379	-416	-1,698	2,982	-1,443	1,981	-321	1,473	700	-456	699	-1,457	1,805	66	-1,368	1,074	560	-760	1,234	354	-1,210	912	-357	1,157	-401	-1,702	332
Accrued expenses and other current liabilities
-15,461	-1,682	2,672	-759	4,661	406	-1,540	-2,564	5,200	1,405	-361	905	3,104	-1,663	1,800	-2,905	1,405	3,300	1,673	-1,336	-3,545	4,017	-6,544	5,318	3,831	1,720	-808	4,947	3,018
Deferred revenue
203,390	-78,326	-35,225	7,914	160,032	-62,860	-30,406	22,650	100,814	-47,735	-24,250	29,411	70,602	-38,667	-4,058	23,357	54,772	-11,567	-1,651	-2,197	28,292	-635	10,431	7,492	13,866	5,254	3,897	5,456	5,049
Operating lease liabilities
-2,337	-1,625	-1,889	-1,629	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other long-term liabilities
3,124	-3,886	1,180	436	1,436	1,053	60	507	1,368	184	1,215	1,051	914	457	641	411	1,284	589	-172	92	476	-11	-10	12	15	433	221	104	249
Net cash provided by operating activities
39,109	61,504	100,473	236,289	31,873	41,556	86,813	150,585	1,437	32,234	57,606	142,161	-2,088	24,993	11,746	109,360	3,446	19,735	15,182	41,791	-1,420	34,256	16,608	18,130	16,225	5,267	7,238	13,023	9,716
Cash flows from investing activities
Purchases of short-term investments
123,734	190,695	209,195	228,894	137,309	214,839	181,069	193,162	87,139	207,268	87,202	56,249	41,062	89,826	116,219	67,740	51,247	94,195	67,078	100,837	68,227	103,836	94,776	135,116	14,317	4,315	1,414	1,357	9,888
Maturities and sales of short-term investments
116,693	194,661	187,772	188,965	184,382	130,137	141,266	176,544	91,522	74,806	69,681	58,696	43,849	53,575	58,151	70,025	67,431	180,785	69,008	47,744	59,553	52,677	40,763	3,867	4,850	2,250	1,900	700	-
Purchases of property and equipment
-54	881	1,092	1,194	2,882	4,163	686	709	1,503	1,635	2,535	3,960	2,551	1,456	859	2,057	2,105	4,556	9,782	4,710	459	790	24,983	299	299	460	884	217	262
Acquisitions, net of cash and restricted cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	116,189	7	9,987	-	-	-	-	-	-	12,149	-	-
Purchases of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	568	-	-	-	-	-	-	-	-	-	-
Capitalized internal-use software development costs
147	356	286	419	370	495	284	230	400	301	242	791	343	32	69	140	237	0	172	22	112	81	0	220	-	720	293	-	257
Proceeds from note receivablerelated party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	253	-
Changes in restricted cash and deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	1	-109	6	-38	0	-2	-1	-12	-8	-4	3	-	5	-215	212	64
Net cash used in investing activities
-455,296	2,729	-22,801	-41,542	43,821	-89,360	-40,773	-17,557	2,480	-134,398	-20,298	-2,304	-209	-37,740	-58,887	82	13,880	-34,155	-8,597	-67,811	-9,233	-52,022	-78,992	-131,771	-9,868	-3,250	-12,625	-833	-10,471
Cash flows from financing activities
Reduction of lease liabilities - finance leases
255	241	239	249	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from early exercise of common stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	2	8	-	-	-	-	4	158	24	43	197
Proceeds from exercise of common stock options
2,376	1,607	3,620	3,391	6,182	4,867	7,022	7,839	3,610	3,747	6,131	7,285	4,361	3,473	3,183	1,345	1,737	1,368	1,608	1,162	1,499	2,102	1,527	685	42	95	146	231	37
Net proceeds from offerings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-323	0	-499	34,994	-	-	-529	-	-
Proceeds from Employee Stock Purchase Plan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,951	-	-	-	-	-	-
Restricted stock units acquired to settle employee tax withholding liability
-	-	-	-	-	-	-	-	-	-	-	-	1	1	11	1	0	0	2	4	-	-	-	-	-	-	-	-	-
Net proceeds from follow-on offering
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	216,263	-	-	-
Net cash provided by financing activities
2,121	1,366	3,381	3,142	6,182	4,867	7,022	7,839	3,610	3,747	6,131	7,285	13,739	8,781	11,251	4,205	6,296	3,185	5,590	4,335	7,771	9,800	13,633	40,058	-991	216,516	-359	274	234
Effect of exchange rate changes on cash, cash equivalents, and restricted cash
75	-487	-1,742	-702	1,453	-1,154	-1,565	-811	1,861	-12	327	913	-17	-321	313	116	-37	53	40	-7	0	-15	-21	-36	-	-	-	-	-
Net change in cash, cash equivalents, and restricted cash
-413,991	65,112	79,311	197,187	83,329	-44,091	51,497	140,056	9,388	-98,429	43,766	148,055	11,425	-4,287	-35,577	113,763	23,585	-11,182	12,215	-21,692	-2,882	-7,981	-48,772	-73,619	5,366	218,533	-5,746	12,464	-521
Supplemental disclosures of other cash flow information:
Cash paid for income taxes, net of refunds
9,285	1,739	882	2,383	2,273	6,697	6,455	4,116	4,319	2,106	1,780	4,256	812	1,061	9,316	2,965	3,703	273	13,350	2,642	-3,586	477	706	3,918	5,689	4,998	7,041	2,945	669
Excess tax benefits from employee stock plans
10,959	8,900	17,000	13,552	14,851	12,000	9,300	9,679	8,535	8,654	14,765	13,910	9,379	5,309	8,079	2,861	4,559	1,817	3,982	3,169	6,610	7,698	6,654	4,379	-	-	-	-	-
Non-cash investing and financing activities:
Changes in accounts payable and accrued expenses related to property and equipment purchases
995	109	97	-634	151	314	80	99	-289	-978	465	-586	482	765	-98	-689	-689	-1,592	133	2,482	518	191	-90	69	-	-	-	-	-
Property and equipment included in accounts payable and accrued expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-46	-8	18	0
Vesting of early exercised stock options
-	-	-	-	-	-	-	-	-	0	0	1	0	0	10	16	16	19	18	17	59	87	112	119	112	212	95	153	55
Offering costs not yet paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-515	515	-	805	-	-	0