Veeva Systems (VEEV) risk factors: FY2026 10-K

1. If our security measures are breached or compromised or unauthorized access to customer data is otherwise obtained, our solutions may be perceived as not being secure, customers may reduce or stop their use of our solutions, and we may incur significant liabilities.
2. We face intense competition in markets in which we operate and if we do not compete effectively, we may lose customers and our business and operating results could be adversely affected.new
3. Defects or disruptions in our solutions could result in diminished demand for our solutions, a reduction in our revenues, and subject us to substantial liability.
4. If our newer solutions are not successfully adopted by new and existing customers, the growth rate of our revenues and operating results will be adversely affected.
5. Our revenues are relatively concentrated within a small number of key customers, and the loss of one or more of such key customers, or their failure to renew or expand user subscriptions, could slow the growth rate of our revenues or cause our revenues to decline.
6. Our sales cycles can be long and unpredictable, and our sales efforts require considerable investment of resources. If our sales cycle lengthens or we invest substantial resources pursuing unsuccessful sales opportunities, our operating results and growth would be harmed.
7. Sales to customers outside the United States or with international operations expose us to risks inherent in international sales.
8. The migration of our CRM customers to our Vault CRM applications built on our own Veeva Vault platform could cause business disruptions for customers and adversely affect our operating results.reworded
9. Difficulty attracting and retaining highly skilled employees could adversely affect our business and efforts to attract and retain such employees may increase our expenses.
10. Catastrophic events could disrupt our business and adversely affect our operating results.
11. Acquisitions could divert our management’s attention, result in additional dilution to our stockholders, and otherwise disrupt our operations.
12. Changes in our senior management team or other key personnel could have a negative effect on our ability to execute our business strategy.
13. Our business could be adversely affected if our customers are not satisfied with the professional or technical support services provided by us or our partners.
14. Our estimate of the market size for our solutions we have provided publicly may prove to be inaccurate, and even if the market size is accurate, we cannot assure you that our business will serve a significant portion of the market.

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1. Nearly all of our revenues are generated by sales to customers in the life sciences industry, and factors that adversely affect this industry, including mergers within the life sciences industry or regulatory changes, could also adversely affect us.
2. Our solutions address heavily regulated functions within the life sciences industry, and failure to comply with applicable laws and regulations could lessen the demand for our solutions or subject us to significant claims and losses.
3. Increasingly complex regulations relating to privacy, data protection, and cybersecurity are burdensome, may reduce demand for our solutions, and non-compliance may impose significant liabilities.Cybersecurity
4. Incorporating AI in our solutions or other uses of AI may result in reputational harm and increased liability.rewordedAI

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1. We rely on third-party providers—including Amazon Web Services and Salesforce—for computing infrastructure, secure network connectivity, and other technology-related services needed to deliver our cloud solutions. Any disruption in the services provided by such third-party providers could adversely affect our business and subject us to liability.reworded
2. We are currently dependent upon Salesforce’s platform for our Veeva CRM application.reworded
3. We employ third-party licensed software and software components for use in or with our solutions, and the inability to maintain these licenses or the presence of errors or security vulnerabilities in the software we license could limit the functionality of our products and result in increased costs or reduced service levels, which would adversely affect our business.
4. Our solutions utilize open-source software, and any failure to comply with the terms of one or more of these open-source licenses could adversely affect our business.

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1. Our historic growth rates of total revenues and subscription revenues should not be viewed as indicative of our future performance.reworded
2. Our results may fluctuate from period to period, which could prevent us from meeting our own guidance or security analyst or investor expectations.
3. Our subscription agreements with our customers are typically for a term of one year. If our existing customers do not renew their subscriptions, do not buy additional solutions and user subscriptions from us, renew at lower aggregate fee levels, or early terminate their existing agreements, our business and operating results will suffer.
4. We may not be able to sustain the level of profitability we have achieved in the past.reworded
5. Our revenues and gross margin from professional services fees are volatile and may not increase from quarter to quarter or at all.
6. Because we recognize subscription revenues ratably over the term of an order for our subscription services, our short-term results of operations may not reflect a decline in sales and may not be indicative of future results.reworded
7. Deferred revenue and change in deferred revenue may not be accurate indicators of our future financial results.
8. Currency exchange fluctuations may negatively impact our financial results.
9. Taxing authorities may successfully assert that we should have collected or in the future should collect sales and use, value-added or similar transactional taxes, and we could be subject to liability with respect to past or future sales, which could adversely affect our results of operations.
10. Unanticipated changes in our effective tax rate and additional tax liabilities, including as a result of our international operations or implementation of new tax rules, could harm our future results.
11. If we are unable to implement and maintain effective internal controls over financial reporting, investors may lose confidence in the accuracy and completeness of our financial reports.
12. We have broad discretion in the use of our cash balances and may not use them effectively.

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1. We have been and may in the future be sued by third parties for alleged infringement of their proprietary rights or misappropriation of intellectual property, and we may suffer damages or other harm from such proceedings.
2. Any failure to protect our intellectual property rights could impair our ability to protect our proprietary technology and our brand.

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1. Our status as a Delaware public benefit corporation may not result in the benefits that we anticipate, requires our directors to balance the interest of stockholders with other interests, and may subject us to legal uncertainty and other risks.
2. Evolving expectations and disclosure requirements related to environmental, social and governance matters expose us to risks that could adversely affect our reputation and performance.
3. Our common stock price has been and will likely continue to be volatile.
4. Our share repurchase program may not enhance long-term shareholder value.new
5. We do not intend to pay dividends on our capital stock for the foreseeable future, so any returns will be limited to changes in the value of our common stock.
6. Provisions in our certificate of incorporation and bylaws and Delaware law might discourage, delay or prevent a change in control of our company or changes in our management and, therefore, depress the market price of our common stock.
7. Our bylaws provide for exclusive forums for certain disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.

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Headings in the FY2025 10-K with no match this year.

1. The markets in which we participate are highly competitive, and if we do not compete effectively, our business and operating results could be adversely affected.
2. If the third-party providers of healthcare professional and healthcare organization data and prescription drug sales data do not allow our customers to upload and use such data in our solutions, the demand for our solutions may decrease, and our business may be negatively impacted.