Discontinued — last reported Q3 '25
Veeva Systems Unbilled Revenue decreased by 12.1% to $50.61M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 24.2%, from $40.76M to $50.61M. Over 5 years (FY 2021 to FY 2026), Unbilled Revenue shows relatively stable performance with a 1.4% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
An increase often signals strong project pipeline execution, while a decrease might suggest a slowdown in project milestones or billing cycles.
This represents revenue recognized for services performed under contracts where the billing milestone has not yet been r...
Standard in project-based service firms; peers often report this as part of contract assets.
unbilled_revenue| 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 | $51.37M | $51.10M | $67.97M | $63.27M | $61.97M | $77.78M | $82.09M | $82.17M | $38.07M | $37.54M | $44.84M | $36.37M | $38.77M | $39.43M | $45.47M | $40.76M | $48.43M | $50.35M | $57.55M | $50.61M |
| QoQ Change | — | -0.5% | +33.0% | -6.9% | -2.0% | +25.5% | +5.5% | +0.1% | -53.7% | -1.4% | +19.4% | -18.9% | +6.6% | +1.7% | +15.3% | -10.4% | +18.8% | +4.0% | +14.3% | -12.1% |
| YoY Change | — | — | — | — | +20.6% | +52.2% | +20.8% | +29.9% | -38.6% | -51.7% | -45.4% | -55.7% | +1.8% | +5.0% | +1.4% | +12.1% | +24.9% | +27.7% | +26.6% | +24.2% |
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Professional services and other | $35.00M | $35.00M | $39.00M | $33.00M | $40.00M | $42.00M | $45.00M | $40.00M |
| Subscription | $4.00M | $4.00M | $6.00M | $8.00M | $8.00M | $8.00M | $13.00M | $11.00M |
| Total | $38.77M | $39.43M | $45.47M | $40.76M | $48.43M | $50.35M | $57.55M | $50.61M |