Veeva Systems Inc

Company facts

Industry

Services-Prepackaged Software

Headquarters

Pleasanton, California

Most recent report

10-Q, filed Aug 27, 2026

Incorporated

Delaware

Filings on record

1,000+ filings

On EDGAR

CIK 1393052

Fiscal year ends

January

Filer status

Large accelerated filer

What to read: Jul 2026 10-Q

SECSift found 3 of 13 sections worth reading, with 2 positive, 7 notable, and 3 negative flags.

• Financial Statements (Item 1)

  Full set of financials and notes with company-specific numbers for the period.
  Positive

  • Board authorized $2B buyback in Jan 2026; $467M spent in H1, $1.4B remaining.
  Notable

  • Acquired Ostro for $90M total, $70M net cash; added $44M goodwill and $25.5M intangibles.
  • Effective tax rate Q2 dropped to 21.8% from 24.5% due to new FDDEI deduction under OBBBA.
  • Switched long-term equity for non-CEO employees from annual option grants to cliff-vest RSUs (four-year).

• Management's Discussion (Item 2)

  Detailed financial results and liquidity analysis with current-period numbers.
  Positive

  • Repurchased 2.7M shares for $467M in H1 FY2026 under a new $2B board authorization from Jan 2026.
  Notable

  • R&D and Quality Solutions subscription revenue grew $131M vs Commercial $72M in H1, widening the mix to 56% of total revenue.
  • G&A fell 14% in H1 due to $31M settlement charge in prior year quarter; without it G&A rose slightly.

• Risk Factors (Item 1A)

  Company-specific risks: customer concentration at 28%, Salesforce deal expired, CRM migration.
  Notable

  • Complex CRM migration to own Vault platform could cause disruptions, outages, and customer loss.
  • Subscription revenue growth decelerated to 17% in FY2026 from 20% in FY2025.
  Negative

  • Salesforce, the primary CRM competitor, has won commitments from large Veeva CRM customers to switch.
  • Top 10 customers account for 28% of revenue each of the past three fiscal years, a high stable concentration.
  • Salesforce platform agreement expired Sept 1 2025; after wind-down in 2030, Veeva can't sell Salesforce-based apps at all.

What changed: Jul 2026 vs. Apr 2026

About 3% of VEEV's Jul 2026 10-Q is new information. 16 paragraphs were added, 97 changed, and 23 removed. Below are the most important lines SECSift identified.

• Item 2 28
• Item 1 27
• Item 1A 13
• Item 5 6
• Item 3 4
• Item 4 3
• Item 6 2