As of Q3'26 (2025-10-31), VEEV reported Operating Cash Flow of USD 193M and Free Cash Flow of USD 193M, both showing a notable increase from the previous quarter. This marks one of the higher cash flow figures in the recent quarters, indicating strong cash generation for the period. Over the period from Q4'23 to Q3'26, both Operating and Free Cash Flow for VEEV have exhibited significant volatility, with pronounced spikes in Q1 of each fiscal year—most notably reaching USD 877M in Operating Cash Flow and USD 871M in Free Cash Flow in Q1'26. Between these peaks, cash flows generally decline sharply, followed by gradual recovery, suggesting a recurring seasonal pattern in the company’s cash generation cycle.