Subscription — Unbilled accounts receivable
Veeva Systems Subscription — Unbilled accounts receivable decreased by 15.4% to $11.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 37.5%, from $8.00M to $11.00M. Over 4 years (FY 2022 to FY 2026), Subscription — Unbilled accounts receivable shows a downward trend with a -24.8% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
An increase suggests strong future cash flow potential from existing contracts, while a significant decrease might indicate a shift in billing cycles or contract terms.
Detailed definition
This metric represents the portion of revenue recognized for subscription services that has not yet been invoiced to the...
Peer comparison
Comparable to unbilled receivables or contract assets reported by other enterprise software firms with multi-year subscription agreements.
veev_segment_subscription_unbilled_accounts_receivableHistorical Data
| 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 | $26.00M | $25.00M | $38.00M | $36.00M | $30.00M | $46.00M | $48.00M | $50.00M | $5.00M | $4.00M | $7.00M | $4.00M | $4.00M | $4.00M | $6.00M | $8.00M | $8.00M | $8.00M | $13.00M | $11.00M |
| QoQ Change | — | -3.8% | +52.0% | -5.3% | -16.7% | +53.3% | +4.3% | +4.2% | -90.0% | -20.0% | +75.0% | -42.9% | +0.0% | +0.0% | +50.0% | +33.3% | +0.0% | +0.0% | +62.5% | -15.4% |
| YoY Change | — | — | — | — | +15.4% | +84.0% | +26.3% | +38.9% | -83.3% | -91.3% | -85.4% | -92.0% | -20.0% | +0.0% | -14.3% | +100.0% | +100.0% | +100.0% | +116.7% | +37.5% |
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Frequently Asked Questions
- What is Veeva Systems's subscription — unbilled accounts receivable?
- Veeva Systems (VEEV) reported subscription — unbilled accounts receivable of $11.00M in Q4 2025.
- How has Veeva Systems's subscription — unbilled accounts receivable changed year-over-year?
- Veeva Systems's subscription — unbilled accounts receivable increased by 37.5% year-over-year, from $8.00M to $11.00M.
- What is the long-term trend for Veeva Systems's subscription — unbilled accounts receivable?
- Over 4 years (2022 to 2026), Veeva Systems's subscription — unbilled accounts receivable has grown at a -24.8% compound annual growth rate (CAGR), from $125.00M to $40.00M.
- What does subscription — unbilled accounts receivable mean?
- Revenue that has been earned but not yet billed to the customer.