Veeva Systems (VEEV) Cost of Revenue (2012 - 2026)

Veeva Systems has reported Cost of Revenue for 15 years, with the latest figure at $110.2 million in Q1 2026.

• For the quarter ending Q1 2026, Cost of Revenue fell 72.6% year-over-year to $110.2 million; the trailing twelve-month figure through Jan 2026 stood at $514.6 million (down 33.63% YoY), and the FY2026 full-year result was $428.8 million, down 38.71% from the prior year.
• Cost of Revenue for Q1 2026 stood at $110.2 million, roughly flat from $110.6 million in the prior quarter.
• The five-year high for Cost of Revenue was $402.1 million in Q1 2025, with the low at -$96.4 million in Q1 2023.
• Average Cost of Revenue over 5 years is $123.0 million, with a median of $110.6 million recorded in 2025.
• Year-over-year, Cost of Revenue tumbled 133.78% in 2022 and surged 305.34% in 2025.
• Tracing VEEV's Cost of Revenue over 5 years: stood at $153.9 million in 2022, then sank by 37.12% to $96.8 million in 2023, then soared by 80.2% to $174.4 million in 2024, then slumped by 36.61% to $110.6 million in 2025, then decreased by 0.34% to $110.2 million in 2026.
• The last three Cost of Revenue figures came in at $110.2 million (Q1 2026), $110.6 million (Q4 2025), and $195.3 million (Q3 2025), per Business Quant data.

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