Q2 FY27 · Ended Jul 31, 2026 · View SEC filing
A weak year-ago quarter flatters the profit jump
Operating margin matches recent quarters; the year-ago quarter carried litigation settlement charges that made this comparison look stronger.
For investorsWhat has to hold for the margin to keep widening?
For foundersTurning a small, connected customer base into a sales force
Customers are billed up front, and other income, mostly interest on the cash, equals 27.1% of operating income.
R&D and Quality subscriptions grew 19.3% against 13.0% for Commercial, so growth increasingly rests on clinical, regulatory and quality software.
Sales and marketing took 13.7% of revenue against 24.0% for research and development; Veeva relies on what it calls reference selling.
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Business Lens describes Veeva Systems from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
