Veeva Systems (VEEV) Reports 15% Revenue Increase

By Bobby Samwell • Thursday, August 29 07:58 • Permanent Link

Veeva Systems Inc. has announced its fiscal 2025 second-quarter results, reporting total revenues of $676.2 million, marking a 15% increase from the previous year. Subscription services revenues also saw a significant rise, reaching $561.3 million, reflecting a 19% year-over-year increase.

In terms of operating income and non-GAAP operating income, Veeva reported second-quarter operating income of $166.5 million, up 60% from the previous year. Non-GAAP operating income for the same period was $279.8 million, representing a 32% increase year over year.

The company's net income also demonstrated substantial growth, reaching $171.0 million for the second quarter, a 53% increase from the previous year. Non-GAAP net income for the same period was $267.3 million, reflecting a 35% year-over-year growth.

The fully diluted net income per share for the second quarter was $1.04, compared to $0.68 one year ago. Similarly, non-GAAP fully diluted net income per share was reported at $1.62, up from $1.21 in the previous year.

Looking ahead, Veeva provided guidance for its fiscal third quarter ending October 31, 2024, with total revenues projected to range between $682 and $685 million. The company also expects non-GAAP operating income to fall between $273 and $275 million, with non-GAAP fully diluted net income per share estimated to range between $1.57 and $1.58.

For the fiscal year ending January 31, 2025, Veeva anticipates total revenues to fall between $2,704 and $2,710 million, with non-GAAP operating income expected to reach approximately $1,080 million. The company also estimates non-GAAP fully diluted net income per share to be around $6.22.

In terms of recent highlights, Veeva's vault CRM suite expanded with the addition of the service center, and the company added 14 new vault CRM customers in the quarter. Additionally, Veeva's clinical platform innovations have resulted in significant capabilities to streamline and simplify the clinical trial process for sites and biopharma sponsors.

Veeva's performance in the second quarter and its outlook for the future reflect strong financial results and strategic advancements, positioning the company for continued growth and success in the life sciences industry. Today the company's shares have moved -0.4% to a price of $199.35. If you want to know more, read the company's complete 8-K report here.

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