Veeva Systems Inc
VEEVQ1 2025(VEEV Q4 FY2025)Estimated3% AI
AI Revenue %
3%
AI Fair Value
$469.5M
AI Revenue (Q)
$24.3M
Total Revenue (Q)
$811.2M
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
FY2025 annual 10-K filing. FY2025 total revenue was $2,747M (subscription $2,285M + professional services $462M), 16% YoY growth. The 10-K now includes a 'Note 15. Segment Information' with adjusted operating income reconciliation, but still no AI-specific revenue. Product categories remain the same four clouds. Commercial Solutions ~48% and R&D Solutions ~52% of subscription. FY2025 R&D expense was significant, reflecting continued investment in platform capabilities including AI. Q4 implied revenue: $2,747M - $650.3M - $676.2M - $699.2M = ~$721.3M. Estimate maintained at 3.0%. Math: $721.3M * 3.0% = ~$21.6M.
Analyzed by claude-opus-4-6
Quoted Figures
For our fiscal years ended January 31, 2025, 2024, and 2023, our total revenues were $2,747 million, $2,364 million, and $2,155 million, respectively, representing year-over-year growth in total revenues of 16%.
10-K for fiscal year ended January 31, 2025, Item 7 MD&A
In our fiscal year ended January 31, 2025, we derived approximately 48% and 52% of our subscription services revenues and 47% and 53% of our total revenues from our Commercial Solutions and R&D Solutions, respectively.
10-K for fiscal year ended January 31, 2025, Item 7 MD&A
The Company operates as a single operating and reportable segment that is focused on providing industry cloud solutions tailored to the global life sciences industry.
10-K for fiscal year ended January 31, 2025, Note 15 Segment Information
AI Products Identified (Ring 1)
Veeva CRM Bot (with GenAI)Andi (AI search for medical content)ML-based analytics in Veeva Data CloudGenAI features in Vault platformClinical trial AI optimizationRegulatory intelligence AI
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Veeva CRMVeeva Vault platformVeeva Commercial CloudVeeva Development CloudVeeva Quality CloudVeeva Data CloudProfessional services
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix