Subscription — Total cost of revenues
Veeva Systems Subscription — Total cost of revenues increased by 2.5% to $96.54M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 15.6%, from $83.49M to $96.54M. Over 4 years (FY 2022 to FY 2026), Subscription — Total cost of revenues shows an upward trend with a 12.7% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
An increase relative to revenue may suggest rising infrastructure costs or inefficiencies, whereas a decrease relative to revenue indicates improved operating leverage.
Detailed definition
This metric captures the direct costs associated with delivering subscription software services, including cloud infrast...
Peer comparison
Comparable to Cost of Goods Sold (COGS) for SaaS companies, specifically focusing on hosting and service delivery costs.
veev_segment_subscription_total_cost_of_revenuesHistorical 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 | $51.22M | $53.91M | $59.65M | $60.14M | $58.95M | $64.04M | $65.73M | $68.91M | $67.58M | $71.17M | $74.44M | $77.40M | $78.15M | $78.79M | $82.64M | $83.49M | $78.35M | $93.83M | $94.17M | $96.54M |
| QoQ Change | — | +5.3% | +10.6% | +0.8% | -2.0% | +8.6% | +2.7% | +4.8% | -1.9% | +5.3% | +4.6% | +4.0% | +1.0% | +0.8% | +4.9% | +1.0% | -6.2% | +19.8% | +0.4% | +2.5% |
| YoY Change | — | — | — | — | +15.1% | +18.8% | +10.2% | +14.6% | +14.6% | +11.1% | +13.2% | +12.3% | +15.6% | +10.7% | +11.0% | +7.9% | +0.3% | +19.1% | +14.0% | +15.6% |
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Frequently Asked Questions
- What is Veeva Systems's subscription — total cost of revenues?
- Veeva Systems (VEEV) reported subscription — total cost of revenues of $96.54M in Q4 2025.
- How has Veeva Systems's subscription — total cost of revenues changed year-over-year?
- Veeva Systems's subscription — total cost of revenues increased by 15.6% year-over-year, from $83.49M to $96.54M.
- What is the long-term trend for Veeva Systems's subscription — total cost of revenues?
- Over 4 years (2022 to 2026), Veeva Systems's subscription — total cost of revenues has grown at a 12.7% compound annual growth rate (CAGR), from $224.91M to $362.89M.
- What does subscription — total cost of revenues mean?
- The direct expenses incurred to provide and maintain the company's subscription software services.