Veeva Systems Inc. has recently released its 10-Q report, providing a detailed insight into the company's financial performance and operations. Veeva Systems Inc. is a leading provider of industry cloud solutions for the global life sciences industry, offering cloud software, data, and business consulting services designed to meet the unique needs of its customers. The company's solutions span from research and development through commercialization, aimed at helping life sciences companies develop and bring products to market faster and more efficiently, market and sell more effectively, and maintain compliance with government regulations.
In the fiscal year ended January 31, 2025, Veeva Systems Inc. derived approximately 48% and 52% of its subscription services revenues and 47% and 53% of its total revenues from its Commercial Solutions and R&D Solutions, respectively. The company's total revenues for the fiscal years ended January 31, 2025, 2024, and 2023 were $2,747 million, $2,364 million, and $2,155 million, respectively, representing year-over-year growth in total revenues of 16% in the fiscal year ended January 31, 2025, and 10% in the fiscal year ended January 31, 2024. Additionally, Veeva Systems Inc. reported net income of $714 million, $526 million, and $488 million for the fiscal years ended January 31, 2025, 2024, and 2023, respectively.
As of January 31, 2025, the company served 1,477 customers, showing a steady increase from 1,432 and 1,388 customers in the preceding years. The customer count for Commercial Solutions and R&D Solutions also showed an upward trend, indicating the company's growing customer base and demand for its offerings.
For the nine months ended October 31, 2025, subscription services revenues constituted 84% of total revenues, while professional services and other revenues constituted 16% of total revenues. Veeva Systems Inc. generally enters into master subscription agreements with its customers, and subscription services revenues are recognized ratably over the respective noncancellable subscription term due to the continuous transfer of control to the customer.
The company's cost of revenues for all of its solutions consists of expenses related to its computing infrastructure provided by third parties, personnel-related costs associated with hosting its subscription services and providing support, expenses associated with computer equipment and software, and allocated overhead. Veeva Systems Inc. also incurs significant employee-related expenses for research and development, sales and marketing, and general and administrative purposes.
The market has reacted to these announcements by moving the company's shares -9.77% to a price of $244.06. For the full picture, make sure to review VEEVA SYSTEMS INC's 10-Q report.
