Company: VEEV
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001393052-25-000022
Chunk: 408

Company: VEEVA SYSTEMS INC
Filing Date: 2025-03-24
Form: 10-K
Item: Item 1
Chunk 408
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 a result of worldwide inflationary pressures and changes in interest rates, currency exchange fluctuations, changes in trade policies and practices (including the imposition of tariffs) or other economic policies, geopolitical conflicts (like the Russian invasion of Ukraine and the regional conflict in the Middle East), and concerns about a possible domestic or global recession have led to volatility in the stock market. As a result, our stock price has changed significantly in recent periods, and we expect the trading price of our common stock will likely continue to be volatile for the 

Veeva Systems Inc. | Form 10-K29

Table of Contents

foreseeable future. In addition to those risks described in this “Risk Factors” section, other factors have in the past and could in the future impact the value of our common stock, including:

•fluctuations in the valuation of companies perceived by investors to be comparable to us, such as high-growth or cloud companies, or in valuation metrics, such as our price to revenues ratio;

•overall performance of the stock market;

•changes in our financial, operating or other metrics, regardless of whether we consider those metrics as reflective of the current state or long-term prospects of our business, and how those results compare to securities analyst expectations, including whether those results fail to meet, exceed, or significantly exceed securities analyst expectations;

•changes in the forward-looking estimates of our financial, operating, or other metrics, how those estimates compare to securities analyst expectations, or changes in recommendations by securities analysts that follow our common stock;

•announcements of customer additions and customer cancellations or delays in customer purchases;

•the net increase in the number of customers, either independently or as compared to published expectations of industry, financial or other analysts that cover us;

•announcements by us or by our competitors of technological innovations, new solutions, enhancements to services, strategic alliances or significant agreements;

•announcements by us or by our competitors of mergers or other strategic acquisitions or rumors of such transactions;

•the economy as a whole and market conditions within our industry and the industries of our customers;

•macroeconomic and geopolitical factors and instability and volatility in the global financial markets;

•future monetary policy changes in the United States and globally;

•the operating performance and market value of other comparable companies;

•securities or industry analysts downgrading our common stock or publishing inaccurate or unfavorable research about our business;

•trading activity by directors, executive officers (in particular our Chief Executive Officer who holds a significant portion of our outstanding common stock and a significant number of vested