Original SEC Filing
View VEEVA SYSTEMS INC's original 10-K filing on SEC website
Visit Official SEC Filing🎯 Veeva Systems Inc. (VEEV) FY2026 10-K: The AI-Powered Life Sciences Giant Is Healthy, But Watch for CRM Migration Headwinds
💡 Core Insight: Veeva Systems, the dominant cloud solutions provider for the life sciences industry, reported robust 16% revenue growth and strong profitability in FY2026, driven by its R&D and Quality Solutions. However, its ambitious migration of CRM customers to its proprietary Vault CRM, coupled with intense competition and evolving regulations, presents both significant opportunities and critical risks for investors.
📊 Key Financial Highlights
| Metric | Value (FY2026) | Change (YoY) | Impact |
|---|---|---|---|
| Total Revenues | $3,195 million | +16% | Consistent strong growth, especially impressive at this scale. |
| Subscription Revenues | $2,684 million | +17% | Main revenue driver, indicates sticky customer base. |
| R&D & Quality Solutions | 55% of Total Rev. | Up from 53% | Shifting revenue mix, highlighting growth in product development and compliance solutions. |
| Net Income | $909 million | +27% | Significant profit increase, demonstrating operational efficiency. |
| Operating Income | $916 million | +33% | Strong margin expansion. |
| Cash from Operations | $1,415 million | +30% | Excellent cash generation, funding growth and buybacks. |
| Market Value | ~$42.6 billion | Steady | Reflects large market capitalization as a well-known seasoned issuer. |
| Total Customers | 1,552 | +5% (75 new) | Continued customer acquisition, slower but steady. |
| Employee Count | 7,928 | +8.7% | Investing in human capital to support R&D and operations. |
💰 What Signals Does This Report Reveal?
Business Performance
Veeva Systems continues to be a powerhouse in the specialized life sciences cloud market. Imagine Veeva as the "operating system" for pharmaceutical companies, from drug discovery to market launch. Their 16% year-over-year revenue growth to $3.195 billion is a testament to the increasing reliance of life sciences companies on specialized cloud solutions. This isn't just growth; it's profitable growth, with net income surging by 27%.
Good News 📈
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