Company file · VEEV

Veeva Systems

Veeva Systems' revenue rose 16.3% in FY2026, to $3.2B, and net income rose 27.3% to $909M

Revenue rose 16.3% to $3.2B in FY2026, from $2.7B in FY2025. Net income rose 27.3% to $909M. Subscription was the largest product or service, at 84% of revenue.

Prepared from SEC filings · Latest annual report: 10-K for FY2026 (filed Mar 20, 2026) · Latest quarter: 10-Q for the quarter ended Jul 31, 2026 (filed Aug 27, 2026) · Data pulled Nov 11, 2026

Key facts

In fiscal 2026, which ended Jan 31, 2026, Veeva Systems (NYSE: VEEV) took in $3.2B of revenue (up 16.3% on fiscal 2025); net income was $909M (up 27.3%). The most recent quarter, ended Jul 31, 2026, brought revenue of $928M, up 17.6% year over year, with net income of $273M. Subscription was the biggest single line by product or service: 84% of fiscal 2026 revenue. Sources: 10-K for fiscal 2026 (filed Mar 20, 2026) and 10-Q for the quarter ended Jul 31, 2026 (filed Aug 27, 2026).

Revenue$3.2BFY2026 · +16.3% vs FY2025

Net income$909MFY2026 · +27.3% vs FY2025

Operating cash flow$1.4BFY2026 · +29.8% vs FY2025

Cash & equivalents$1.8Bat Jul 31, 2026 · +27.5% vs FY2026 end

Diluted shares167MFY2026 avg · +1.1% vs FY2025

Revenue and net income, three fiscal yearsBy fiscal year, $bn

RevenueNet income

Source: 10-K FY2026, filed Mar 20, 2026

Quarterly revenue: fiscal 2027 vs a year earlierFiscal Q1–Q2, $bn (each quarter from that quarter's 10-Q)

FY2026FY2027

Source: 10-Q filed Jun 5, 2026 · 10-Q filed Aug 27, 2026

How it makes money

By product or service, FY2026

LineAmountSharevs FY2025
Subscription$2.7B84%+17.5%
Technology services$511M16%+10.6%

Source: 10-K FY2026, XBRL breakdown

By product or service in FY2026: Subscription (84%) and Technology services (16%), as shares of total revenue. Total revenue was $3.2B.

By product or service: three-year mixShare of the total each fiscal year

FY2024

80%20%

FY2025

83%17%

FY2026

84%16%

SubscriptionTechnology services

Source: 10-K FY2026

By region, FY2026

North America$1.9B60%+17.4%

Europe$940M29%+18.8%

Asia Pacific$280M9%+5.4%

Other International$72M2%+5.5%

Share is of the FY2026 total; the last column is the change from FY2025.

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q2 FY2027 (May to Jul 2026) compared with Q2 FY2026 (May to Jul 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q2 FY2027Q2 FY2026

Company

Revenue

$928M Q2 FY2027

$789M Q2 FY2026

17.6% increase

Net income

$273M Q2 FY2027

$200M Q2 FY2026

36.5% increase

Source: Veeva Systems 10-Q for the quarter ended Jul 31, 2026, filed Aug 27, 2026

By product or service

Subscription

$767M Q2 FY2027

$659M Q2 FY2026

16.3% increase

Technology services

$161M Q2 FY2027

$130M Q2 FY2026

24.1% increase

Source: Veeva Systems 10-Q for the quarter ended Jul 31, 2026, filed Aug 27, 2026

Cash & equivalents $1.8B at Jul 31, 2026, vs $1.4B at FY2026 end.
Operating cash flow, first 6 months of fiscal 2027: $1.4B vs $1.1B a year earlier.

The bull case and the bear case

The bull case

Revenue rose 16.3% in FY2026 to $3.2B, from $2.7B a year earlier. 10-K, FY2026
Net income rose 27.3% in FY2026 to $909M, from $714M. 10-K, FY2026
Operating cash flow rose 29.8% in FY2026 to $1.4B. 10-K, FY2026
Revenue in the quarter ended Jul 31, 2026 was $928M, up 17.6% on a year earlier. 10-Q, quarter ended Jul 31, 2026

The bear case

Diluted shares rose 1.1% in FY2026, which spreads profit across more shares. 10-K, FY2026
The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include regulation; pricing and reimbursement; competition. 10-K, Item 1A

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

Veeva Systems is in the health care technology industry, part of the health care sector. The SEC files it under Services-Prepackaged Software.

The full description of Veeva Systems' business is in Item 1 of its 10-K, linked below. This page shows its revenue by product or service and region.

Its fiscal year ends in January; the latest, FY2026, ended Jan 31, 2026.

Source: 10-K, Item 1 Business

Risks common in this industry

These are general risks for companies in the health care technology industry. They are not a summary of Veeva Systems’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.

RegulationApprovals, safety rules and government oversight shape what it can sell and how.
Pricing and reimbursementPayers, insurers and governments influence what it can charge.
CompetitionNew treatments, generics and rival products can take share.
LitigationProduct liability and other legal claims can lead to costs.
SupplyManufacturing and supplier problems can interrupt products.

Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$	FY2024	FY2025	FY2026
Revenue	$2.4B	$2.7B	$3.2B
Net income	$526M	$714M	$909M
Operating cash flow	$911M	$1.1B	$1.4B
Cash & equivalents (year end)	$703M	$1.1B	$1.4B
Diluted shares	163M	165M	167M

Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator

Explainers for this page

Plain-English guides to terms this file uses, with real numbers from filings.

About these numbers

Veeva Systems names its fiscal year by the calendar year in which it ends, so FY2026 is the year that ended Jan 31, 2026.

What we left out

Total debt: the company's filing data doesn't carry a consistent debt total for the years shown, so it isn't shown.

Recent filings

Form	Filed	Period
10-Q	Aug 27, 2026	Jul 31, 2026
10-Q	Jun 5, 2026	Apr 30, 2026
DEF 14A	May 4, 2026	Jun 17, 2026
10-K	Mar 20, 2026	Jan 31, 2026

Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

Common questions about Veeva Systems

How does Veeva Systems make money?

In fiscal 2026, revenue totaled $3.2B. By product or service in FY2026: Subscription (84%) and Technology services (16%), as shares of total revenue. Total revenue was $3.2B. Source: 10-K for fiscal 2026, filed Mar 20, 2026.

What was Veeva Systems's revenue in fiscal 2026?

Revenue came to $3.2B in the year ended Jan 31, 2026. Going back two years, it was $2.4B in fiscal 2024 and $2.7B in fiscal 2025, so the latest year was up 16.3%. Source: 10-K for fiscal 2026, filed Mar 20, 2026.

Is Veeva Systems profitable?

Yes, by US accounting rules (GAAP): net income was $909M in fiscal 2026, up 27.3% from $714M a year earlier. For the quarter ended Jul 31, 2026, net income was $273M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2026, filed Mar 20, 2026.

What did Veeva Systems report in its latest quarterly filing?

The 10-Q for the quarter ended Jul 31, 2026 shows revenue of $928M, against $789M in the same quarter a year before (up 17.6%), and net income of $273M, against $200M (up 36.5%). Source: 10-Q for the quarter ended Jul 31, 2026, filed Aug 27, 2026.

What are the main risks Veeva Systems faces?

Veeva Systems's own risk factors are in Item 1A of its 10-K for fiscal 2026, filed Mar 20, 2026. Risks that are common among companies in the health care technology industry include Regulation; pricing and reimbursement; competition; litigation; supply. The first: Approvals, safety rules and government oversight shape what it can sell and how. Source: 10-K, Item 1A Risk Factors.

Where do these Veeva Systems numbers come from?

Two filings Veeva Systems made with the SEC: its fiscal 2026 10-K, filed Mar 20, 2026, and its 10-Q for the quarter ended Jul 31, 2026, filed Aug 27, 2026. The figures are taken from the XBRL data the SEC publishes, and every one links back to its source. Methodology explains how fiscal years and missing numbers are handled.

Tracked funds that report owning Veeva Systems

Baillie Gifford: 652,111 shares, reported value $186.1M at Sep 30, 2026 (−16.1% in shares since the filing for Jun 30, 2026). Form 13F filed Nov 9, 2026.
Two Sigma Investments: 943,507 shares, reported value $167.4M at Jun 30, 2026 (−48.3% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Fundsmith: 816,785 shares, reported value $145.0M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 14, 2026.
Millennium Management: 270,772 shares, reported value $48.1M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 14, 2026.
Citadel Advisors: 64,755 shares, reported value $11.5M at Jun 30, 2026 (−57.3% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
Bridgewater Associates: 30,709 shares, reported value $5.4M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 14, 2026.

From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.

Disclosures

Editor holdings in VEEV: The editor holds no position in Veeva Systems (VEEV). As of Nov 11, 2026.
Trading rule: The editor does not buy or sell VEEV from 3 days before to 3 days after this page is published or substantively updated.
Compensation: Nobody paid for this page. No affiliate links on this page.
Sources: The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated: Nov 5, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold VEEV, and it doesn't consider your situation.

Compare with peers

Company	Fiscal year	Revenue	Revenue growth	Net income
Veeva SystemsVEEV	FY2026	$3.2B	+16.3%	$909M
SolventumSOLV	FY2025	$8.3B	+0.9%	$1.6B
Eli LillyLLY	FY2025	$65.2B	+44.7%	$20.6B
Johnson & JohnsonJNJ	FY2025	$94.2B	+6.0%	$26.8B

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.