VEEVA SYSTEMS INC (VEEV) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that VEEVA SYSTEMS INC surfaced in its latest filing.

• Agreement with Salesforce expired on September 1, 2025, with a wind-down period through September 1, 2030, during which sales of Salesforce-platform applications to new customers are prohibited, and sales to existing customers are capped at 150% of seats in use as of September 1, 2025.September 1, 2025
• Veeva CRM will be supported only until December 31, 2029.December 31, 2029
• Migration from legacy Veeva CRM to Vault CRM is underway, which may cause customers to choose competitors.
• Inflation Reduction Act (effective August 2022) drug pricing reforms could reduce life sciences companies' revenues and demand for Veeva's products.August 2022
• The Data (Use and Access) Act of 2025 regulates Veeva under UK GDPR.2025
• A 2025 U.S. DOJ final rule limits transfers/access to certain U.S. personal data by persons/entities in or controlled by China and other designated countries.2025
• The EU Data Act, effective September 12, 2025, allows EU customers to cancel subscriptions without cause upon notice after a transition period.September 12, 2025
• The EU AI Act creates a complex regulatory framework for data use in AI.
• In January 2026, the board authorized a $2 billion share repurchase program with a term of two years.January 2026
• The One Big Beautiful Bill Act provides permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act of 2017 and restoration of immediate expensing for domestic research and development expenditures.
• OECD Pillar Two 15% global minimum effective corporate tax rate may apply, with potential exemption for fiscal years beginning on or after January 1, 2026.January 1, 2026
• Washington’s My Health My Data Act impacted Veeva Crossix data platform audience segments.
• French governmental health agency mandates certification that health data be stored exclusively within the EEA.
• NIS2 directive requires EU member state implementing legislation by October 2024; several states have not finalized their legislation.October 2024