Information about Geographic Areas and Products
Information about Geographic Areas
We track and allocate revenues by principal geographic area rather than by individual country, which makes it impractical to disclose revenues for the United States or other specific foreign countries. We measure subscription revenue primarily by the estimated location of the end users in each geographic area for our Commercial Solutions and primarily by the estimated location of usage in each geographic area for our R&D and Quality Solutions. We measure professional services revenue primarily by the location of the resources performing the professional services.
Total revenues by geographic area were as follows for the periods shown below (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | |
| | | Fiscal year ended January 31, |
| | | | | 2026 | | 2025 | | 2024 |
| Revenues by geography | | | | | | | | | |
| North America | | | | | $ | 1,903,342 | | | $ | 1,621,697 | | | $ | 1,387,425 | |
| Europe | | | | | 939,630 | | | 790,777 | | | 662,560 | |
| Asia Pacific | | | | | 280,162 | | | 265,735 | | | 250,600 | |
| Other international | | | | | 72,177 | | | 68,410 | | | 63,088 | |
| Total revenues | | | | | $ | 3,195,311 | | | $ | 2,746,619 | | | $ | 2,363,673 | |
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Long-lived assets by geographic area are as follows as of the periods shown below (in thousands):
| | | | | | | | | | | |
| January 31, |
| 2026 | | 2025 |
| Long-lived assets by geography | | | |
| North America | $ | 54,089 | | | $ | 47,144 | |
| Europe | 11,018 | | | 6,778 | |
| Asia Pacific | 4,239 | | | 1,295 | |
| Other international | 915 | | | 695 | |
| Total long-lived assets | $ | 70,261 | | | $ | 55,912 | |
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Revenues by Product
We group our revenues into two product areas: Commercial Solutions and R&D and Quality Solutions. Commercial Solutions revenues consist of revenues from our Veeva Commercial Cloud and Veeva Data Cloud solutions. R&D and Quality Solutions revenues consist of revenues from our Veeva Development Cloud and Veeva Quality Cloud solutions.
Total revenues consist of the following (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | |
| | | Fiscal year ended January 31, |
| | | | | 2026 | | 2025 | | 2024 |
| Subscription | | | | | | | | | |
| Commercial Solutions | | | | | $ | 1,257,568 | | | $ | 1,104,888 | | | $ | 995,803 | |
| R&D and Quality Solutions | | | | | 1,426,626 | | | 1,179,771 | | | 905,790 | |
| Total subscription | | | | | 2,684,194 | | | 2,284,659 | | | 1,901,593 | |
| Professional services and other | | | | | | | | | |
| Commercial Solutions | | | | | 189,307 | | | 185,302 | | | 185,981 | |
| R&D and Quality Solutions | | | | | 321,810 | | | 276,658 | | | 276,099 | |
| Total professional services and other | | | | | 511,117 | | | 461,960 | | | 462,080 | |
| Total revenues | | | | | $ | 3,195,311 | | | $ | 2,746,619 | | | $ | 2,363,673 | |
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About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.