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Operating Expense Breakdown
Details core costs like R&D, marketing, and admin, offering insight into how efficiently Veeva Systems runs and where it’s prioritizing investment.Veeva is clearly prioritizing product-led growth: R&D spending has surged and now dominates opex growth as the company double-downs on Vault CRM, RTSM/EDC, safety and AI, while sales & marketing has also ramped to commercialize migrations and CRM rollouts. That mix reflects a deliberate trade-off—heavier near-term investment to capture the study-by-study/CRO and top‑20 R&D opportunities—which may pressure comparability against tough Crossix comps but aligns with management’s guidance that investments will be pursued while retaining strong operating leverage and profitable services margins.
Date | Sales and Marketing | Research and Development | General and Administrative |
|---|---|---|---|
Jun 30, 2026 | $126.70M | $222.92M | $71.31M |
Mar 31, 2026 | $111.12M | $208.32M | $69.47M |
Dec 31, 2025 | $110.18M | $198.79M | $67.63M |
Sep 30, 2025 | $110.55M | $191.88M | $68.48M |
Jun 30, 2025 | $109.44M | $192.68M | $95.80M |
Mar 31, 2025 | $98.63M | $184.03M | $68.83M |
Dec 31, 2024 | $99.20M | $181.53M | $70.74M |
Sep 30, 2024 | $98.69M | $172.41M | $72.36M |
Jun 30, 2024 | $101.53M | $176.43M | $61.37M |
Mar 31, 2024 | $97.30M | $162.71M | $61.28M |