Cost of Revenue
Total Cost of Revenue
Veeva Systems Total Cost of Revenue increased by 7.0% to $213.48M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 17.9%, from $180.99M to $213.48M. Over 4 years (FY 2022 to FY 2026), Total Cost of Revenue shows an upward trend with a 11.6% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
StatementIncome Statement
SectionCost of Revenue
CategoryProfitability
SignalLower is better
VolatilityStable
First reportedQ1 2014
Last reportedQ1 2026
How to read this metric
An increase relative to revenue suggests rising production costs or margin compression, while a decrease suggests improved operational efficiency.
Detailed definition
Total cost of revenue includes the direct costs attributable to the production of goods or the delivery of services sold...
Peer comparison
Varies by industry; for medical device manufacturers, this includes significant manufacturing and supply chain costs.
Metric ID:
total_cost_of_revenueHistorical Data
20 periods
| Q1 '21 | Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $116.14M | $122.10M | $129.56M | $135.88M | $139.52M | $151.67M | $153.91M | $164.31M | $166.66M | $169.02M | $167.68M | $173.93M | $173.88M | $170.37M | $174.39M | $180.99M | $173.82M | $195.25M | $199.47M | $213.48M |
| QoQ Change | — | +5.1% | +6.1% | +4.9% | +2.7% | +8.7% | +1.5% | +6.8% | +1.4% | +1.4% | -0.8% | +3.7% | -0.0% | -2.0% | +2.4% | +3.8% | -4.0% | +12.3% | +2.2% | +7.0% |
| YoY Change | — | — | — | — | +20.1% | +24.2% | +18.8% | +20.9% | +19.5% | +11.4% | +9.0% | +5.9% | +4.3% | +0.8% | +4.0% | +4.1% | -0.0% | +14.6% | +14.4% | +17.9% |
Range$116.14M – $213.48M
CAGR+13.7%
Avg YoY Growth+11.9%
Median YoY Growth+12.9%
Current Streak3 quarters growth
Product Breakdown
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Professional services and other | $95.74M | $91.58M | $91.75M | $97.50M | $95.48M | $101.42M | $105.29M | $116.94M |
| Subscription | $78.15M | $78.79M | $82.64M | $83.49M | $78.35M | $93.83M | $94.17M | $96.54M |
| Total | $173.88M | $170.37M | $174.39M | $180.99M | $173.82M | $195.25M | $199.47M | $213.48M |
Total Cost of Revenue at Other Companies
Frequently Asked Questions
- What is Veeva Systems's total cost of revenue?
- Veeva Systems (VEEV) reported total cost of revenue of $213.48M in Q4 2025.
- How has Veeva Systems's total cost of revenue changed year-over-year?
- Veeva Systems's total cost of revenue increased by 17.9% year-over-year, from $180.99M to $213.48M.
- What is the long-term trend for Veeva Systems's total cost of revenue?
- Over 4 years (2022 to 2026), Veeva Systems's total cost of revenue has grown at a 11.6% compound annual growth rate (CAGR), from $503.68M to $782.02M.
- What does total cost of revenue mean?
- The direct costs incurred to produce the goods or services that a company sold during a specific period.