VEEVVeeva Systems
Veeva is the leading provider of industry cloud solutions for the global life sciences industry. 10-K, Item 1
- Employees
- 7,928
- Headquarters
- Pleasanton, CA
- Next results
- around Mar 3, 2027
The biggest changes in the 10-K filed 2026-03-20, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Operating margin
25.2% → 28.7% (+3.5 pts) Big change FY to 2026-01-31 vs 2025-01-31“Research and development expenses for the fiscal year ended January 31, 2026 increased $74 million, primarily due to an increase of $64 million in employee compensation-related costs, which was driven by increases in salaries and benefits, as well as headcount.”
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Cash from operations
+29.8% Big change FY to 2026-01-31 vs 2025-01-31“The increase in cash provided by operating activities was primarily due to increased sales and the related cash collections and the impact of the OBBBA, partially offset by increased expenses.”
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Net income
+27.3% Big change FY to 2026-01-31 vs 2025-01-31“Other income, net, for the fiscal year ended January 31, 2026 increased $50 million, primarily due to an increase in interest income from higher investment asset and cash balances.”
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“During the fiscal year ended January 31, 2026, as compared to the prior fiscal year, our effective tax rate increased primarily due to the indirect effects of the One Big Beautiful Bill Act (“OBBBA”), offset by increased excess tax benefits related to equity compensation.”
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Revenue
+16.3% Big change FY to 2026-01-31 vs 2025-01-31“The increase in subscription revenues consisted of $247 million attributable to R&D and Quality Solutions and $153 million attributable to Commercial Solutions.”
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“Sales and marketing expenses for the fiscal year ended January 31, 2026 increased $32 million, primarily due to an increase of $29 million in employee compensation-related costs, which was driven by increases in salaries and benefits, as well as headcount.”
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Gross margin
74.5% → 75.5% (+1.0 pts) FY to 2026-01-31 vs 2025-01-31The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
Work on VEEV in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/VEEV/export.csv") into a cell.